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 . . .”
It seems appropriate to acknowledge that since posting the previous article on this site, (1) the Director of Finance has now provided a response to this writer’s Ask the POA questions regarding the $571k insurance settlement received thus far for the Chimneys and realty office damage. And although appreciation is certainly extended to the Director for that response, it did nothing to alleviate concerns regarding the disposition of those proceeds. Continue reading “An update to “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 . . .”
After a summer immersed in everything “Renew Big Canoe”, the suspense is now over. With initiatives to construct a new post office and to renovate the existing clubhouse overwhelmingly approved by the property owners (67% and 61% respectively), (1) leadership has now been given the green light to borrow the funds needed against the $15 million Wells Fargo line. The remaining millions available on the line will be used for those projects set to proceed without a vote. Continue reading “What just happened . . .”
In only a few weeks, property owners will gather a glimpse of what our futures in Big Canoe will be as the last Renew Big Canoe ballots are returned and counted. One can only hope that each property owner had access to all the facts and pondered the choices carefully. But for now, there isn’t much more that can be said so it seems appropriate to refocus on the further draining of “our money” from the Association’s coffers along with the continued discrepancies found in the Association’s financial reporting. (1) Continue reading “In search of full disclosure . . .”
Special thanks are again extended to fellow property owner Wayne Huey for his excellent presentation regarding the architectural issues and shortcomings found in the clubhouse and postal facility plans. (1) Appreciation is also extended to the many property owners that have stepped forward and either contacted the board or included their comments at the bottom of these recent articles. Meanwhile, with the ballots set to be placed in the mail any day now and a leadership attempting to debunk any concerns from naysayers, it might be useful to break down some of the myths and lay out a few facts surrounding this ambitious and bold initiative. Continue reading “Renew Big Canoe: The financials . . .”
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 . . .”
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 . . .”
Still stunned by the February 23rd announcement that the capital fund account balances would be restated as of the 2022 year end, (1) additional issues continue to surface regarding those accounts as well as other questionable financial information currently being peddled to the community. Continue reading “Connect the dots – part two . . .”
For those of you who have not viewed the February 23rd board meeting, the Chairman of the Finance Committee informed the board and the community that the capital fund accounts would be renamed and the cash balances in these accounts would be “restated” as of December 31st (1) based on a recommendation from management. An unusual if not also shocking announcement indeed. Continue reading “Connect the dots . . .”