One would think that while presenting details of the 2023 budget to the community for the third time, the GM could have gotten it right and at least attempted to refrain from spouting untruthful information to the property owners. But alas, during the December annual meeting, the GM continued to erroneously insist that the association’s debt service is included in the $4.2 million net income before depreciation. (1) Again, as stated in a previous post, it is not there. (2) https://bcmatters.org/self-inflicted-chaos/ Continue reading “Self-inflicted Chaos updated . . .”
Category: Governance
Self-inflicted Chaos . . .
There’s been a lot going on in Big Canoe recently to include the unveiling of the 2023 budget revealing leadership’s plans for the coming year coupled with the $20 per month assessment increase (with $5 of the increase allocated to the Master Plan Fund). Unfortunately, rather than presenting the community with a concisely constructed financial plan, the GM’s budget presentation has become a media blitz of power point slides and pie charts containing often misleading, manipulated and incomplete information. Continue reading “Self-inflicted Chaos . . .”
Two sets of rules . . .
In what seems to have become an end of the year norm, leadership is appealing to the property owners to vote affirmatively for yet another “board contrived” change to our governing documents, i. e., the Leasing Administration Fee (1) And as has been the case in recent years, (2) (3) (4) property owners have not been provided access to the actual language contained in the amendment until only days before the ballots are scheduled to be placed in the mail. This continuing practice gives limited opportunity for discussion, revision or opposition. Continue reading “Two sets of rules . . .”
Let’s not give away the ranch . . .
Horse trading. That is the term used by one director to characterize the water and sewer mediation proceedings with Utilities, Inc. during his board update of those ongoing negotiations. (1) To be honest, while recognizing that the mediation process demands confidentiality, the use of that terminology, elicited a sense of uneasiness regarding the possible outcome of those private discussions. Continue reading “Let’s not give away the ranch . . .”
With red flags waving . . .
Quite an extravaganza, the August board meeting was filled with leadership’s self-applause and vague references to purported misinformation imagined to be swirling about the community. In fact, it seems that leadership sometimes goes to extraordinary lengths to ensure that the property owners “believe” that all is financially wonderful in Big Canoe. Unfortunately, all is never exactly as it may appear. Continue reading “With red flags waving . . .”
The domino effect . . .
An unfolding of events all began with a recent unusual Friday morning e-blast announcing “POA Board of Directors to Vote on Financing New Fire Engine”. (1) What a misleading choice of words, as the Association already owned the fire engine delivered in late June after paying cash in advance to have the fire engine built eighteen plus months before. Instead, the fire truck just happened to be yet another item of collateral pledged on a loan for the purpose of generating additional cash which will be deposited in the “Capital Replacement Fund”. Continue reading “The domino effect . . .”
An update to True Colors: The Taunt . . .
A property owner and member of the Responsive Governance Group recently made good use of the “three minute allotment” granted to property owners during the Q&A session of regularly scheduled board meetings. Stepping forward during the July 28th meeting, the board was questioned about it’s decision to disregard a petition signed by 194 property owners (and still counting) asking the board to place an amendment to the covenants on the November ballot for a community vote regarding the property owner approval requirements of certain capital expenditures. (1) Continue reading “An update to True Colors: The Taunt . . .”
True Colors . . .
For those who may not have heard, a small group of concerned property owners including this writer (“the group”) was formed for the initial purpose of soliciting signatures on a petition asking the board to give the property owners an opportunity to vote on a proposed amendment to the covenants regarding capital expenditures exceeding $1 million and the associated member approval requirements. (1) petition Continue reading “True Colors . . .”
What if . . .
Has each member of our Board of Directors considered that potential purchasers of property might turn away from a community such as Big Canoe with such an outrageous level of debt? That is the question just recently posed to the board with the President responding that “all involved determined it was in the best interest of owners both present and future.” Maybe, but not actually. Continue reading “What if . . .”
Speechless . . .
Not one of our better times, the first month of 2022 has been filled with unfortunate events and broken promises as the level of secrecy and non-transparency exhibited by our board of directors continues to escalate to new levels. And while just weeks ago, this writer tried to envision the next fifty years of Big Canoe, (1) we now know that for the next eighteen years, we will be burdened with debt. Continue reading “Speechless . . .”