With a stated goal of being “more communicative with our neighbors”, (1) the Board of Directors just unveiled it’s first notification in a glitzy, multi page periodical titled “Board Update” prepared with the help of the Marketing Department and their $428k budget. Continue reading “Always something new in POA land . . .”
Category: Governance
Circling the wagons: Part Two . . .
Remember the Finance Committee Chair that surmised to the community in his “Renew Big Canoe” financial presentations that food and beverage losses are a “good thing” because that means we don’t have to pay taxes? (1) Now installed for a second term as Chairman, he’s back and presenting a rambling and disconnected tutorial on GAAP (generally accepted accounting principals) and accountability. (2a) Continue reading “Circling the wagons: Part Two . . .”
Another year in POA land . . .
To be honest, for this writer, 2023 was a disappointing year in Big Canoe. With plunging cash ratios, continued negative cash flow, escalating food and beverage losses, extravagant capital expenditures, more assessment increases and flawed budgets all culminating with a board reaching even further lows by consciously and overtly altering and manipulating official documents in order to advance their agenda, there is no current confidence that 2024 will be any better. Continue reading “Another year in POA land . . .”
Guest Spot: In the interest of the Community . . .
It is sincerely appreciated that long time property owner, Wayne Huey took the time to contact the Board of Directors regarding the “repurposing” of the Chimneys into administrative office space. And now, in the spirit of transparency, he has requested that his memo and the outrageous response he received be posted on bcmatters.org. Thank you Wayne for sharing this important information with the community. (Patricia)
Note: Comments and additional documentation will be provided by this writer at the end of Wayne’s post. Continue reading “Guest Spot: In the interest of the Community . . .”
Just more of the same . . .
Kudos to the Big Canoe POA Board of Directors for finally recognizing the importance of transferring the $474k residual balance of the insurance settlement proceeds (for the Chimneys and realty office freeze damage) to a capital account rather than allowing those dollars to remain commingled with the operating cash account. (1) (2) Continue reading “Just more of the same . . .”
A bridge too far . . .
In an act akin to pulling out the shred machine, the 96 page report titled “Big Canoe Community Overview 2023” dated October 8th, 2023 that was laboriously prepared by the seven member Long Range Planning Committee (“LRPC”) has now been removed from the POA website and replaced with an altered, edited and manipulated version all at the direction of the current POA President. Continue reading “A bridge too far . . .”
Save the Chimneys . . .
A collaboration by: Wayne A. Huey and Patricia Cross
Again wasting no time since the community vote approving the construction of a new postal facility ($2.76 million) and clubhouse renovation ($6.35 million), the Board of Directors has immediately moved forward with the remaining capital projects under the umbrella of Renew Big Canoe that they themselves have deemed allowable without a property owner vote. Continue reading “Save the Chimneys . . .”
A cautionary tale . . .
Well now. With little more than a month elapsed since the announcement of the Renew Big Canoe results, it seems that the board’s euphoria has already begun to fade into oblivion only to be replaced by cryptic references of gloom and doom. Continue reading “A cautionary tale . . .”
Unfinished business . . .
Returning home after a month in Europe, it is apparent that this writer has quite a lot of catching up to do with the Renew Big Canoe initiative already in full swing and scheduled for the “fast track” delivery of ballots in mid to late July. But for now, after only alluding to discrepancies found in the capital fund accounts, it seems important and appropriate to finally provide the community with the details surrounding this writer’s requests for certain accounting records and the subsequent interactions with the board of directors and POA corporate counsel, Kim Gaddis. After all, it’s your money. Continue reading “Unfinished business . . .”
The basics . . .
Only in Big Canoe could monthly financial results reflecting a $46k net operating loss be considered acceptable without explanation or discussion. (1a) Further, and with all due respect, it appears that our monthly board meetings have become little more than scripted dog and pony shows designed to impress and mislead while full of conflicting details and an abundance of incorrect and/or missing financial information. Given that, along with the constant trickle of other emerging news, it is difficult to know where to even begin. Continue reading “The basics . . .”