Dec
3
There are approximately 1530 property owners in Spanish Cove.
· CPOC committee members represent about 1/3rd of 1% of all Spanish Cove property owners.
To date the Board and Spanish Cove’s new manager have:
· Hired a new forensic CPA
· Hired a new manager
· Uses a new purchase order system
· Limits the use of credit cards
· Is attempting to hire a degreed full-time accountant.
· Is forming a sub-committee to study and modify existing policies, emphasize individual responsibility and control internal financial and accounting processes.
The Board is working to resolve past and prevent future problems.
How about supporting and helping them CPOC committee members?
Tags: Committees, Financial, POASC
Bill, I do not believe that there any “owners” of the corporation. If it were to disappear, which for all intents and purposes is not possible all assets it has would go to the state of Alabama. The property owners elect the Board Members each and every one of them. Those that have been appointed have been done so by the Board, per our Covenants, to fill a vacancy caused by a member resigning, or dieing. There are currently 2 vacant seats because no one has has indicated an interest in serving. I previously have answered your question concerning why some “projects” require a vote. Please look at that posting if you want an answer. A Board Member can not be removed by petition. The petition if it contains the proper number of valid signatures forces a recall vote. The vote if approved and made by the required 20% of all members results in the Board Member being removed from the Board. You ask why that can happen. The answer is because the Covenants give the members the right to elect and to remove a director from office. This all goes back to what Dick has said, the rights a property owner has are delineated in the Covenants and certain sections of the By-Laws. Those rights are the only ones any property owner has.
Hey guys, this is beginning to sound a little like ‘the other website’ so please tone it down. Getting ugly with each other doesn’t help anyone. Thanks, Sandra
Goodbye. Good Luck.
And by the way, it’s Junkins.
Bill Pittw, unfortunately, I can’t remove your name from this site since your name was never registered or added in any way.
The comments on Cove Connections were created by you.
My intention isn’t to upset you further but to only let you know that only your comments are on Cove Connections and if you would like me to remove them please let me know.
Thank you, Sandra
Mr.Junkin. My previous comment is my last. It is no need trying to reason with you.You think that you have all of the answers.
Please ask Mrs Bonnett to remove my name from this site. She has asked me to tone down my comments. It is obvious that you, Dave Danson, and Dale Morsette can be overly critical of the CPOC with no ramifications.The CPOC is made up of Spanish Cove Property Owners and they deserve more respect than they are getting. They should certainly get more respect from Board Members.
MRS.BONNETT; REMOVE MY NAME.
Mr. Junkin:
You never answered the question:
1–Who owns the corporation?
2–Who elects Board Members?(some cannot be elected and are appointed)
3–Why do certain projects require the vote of the Property Owners?
4–Why is it possible for Property Owners to remove a Board Member by Petitio?
And you say that Property Owners have no power. What don’t you understand? I know who you are, and I am not at all impressed with you.
Here’s the direct quote form my earlier post: “We own the property on which we place our homes, and THAT’S IT!”
And that’s the truth, Bill Pittw, or whoever you are. We property owners don’t own the Cove, just our lots and the improvements on those lots. I don’t know why you’re having so much trouble understanding that.
It’s unlikely that I will resign simply because you don’t like me or the the information I’m providing. You may want to “resign” yourself to the fact that what we have is what we have, and try to work within the system if you’re dissatisfied and want to see changes.
Sandra:
Why don’t you tell Junkin and Danson to tone it down? In fact, if you are bothered by what I say remove me from the site. I really don’t care.
Mr. Junkin:
You said that the Property Owners rights were limited to his / her property–then you said “thats it” That’s not true and you know it. You can overlook my opinion if you want to, but my opinion is in line with the majority of home owners.
If you can’t own up o what you said you need to resign from the Board.
Well, Sally, I appreciate the invitation but my wife might object. LOL.
Snowbird, you need to retire. 72 is too long to be working at a job. Come down here and you can work at all kinds of neat things, your tan, water aerobics, poker, etc. Don’t worry about the name spelling. As they say, don’t sweat the small stuff.
P.S. Sorry about the mis-spell of your name.
Salley – That’s an old slave song. I didn’t work the cotton fields but I did listen to Pat Boone, Harry and of course Elvis. I’m coming up on 72 so that may give you some insight. LOL.
Dick, most of the documents are on .org. They just need to add the Rules and Regs pertaining to the ByLaws and the Operating Procedures which, by the way, contain the Employee Handbook that someone on this site said did not exist.
Snowbird, I’m entirely too young to remember that song. But in an attempt at full disclosure, Denny and I saw Harry in concert at the Palmer House in Chicago in the ’50′s. We were mere children at the time.
Bill Pittw, would you please tone it down a little? Feel free to comment civilly. Thanks, Sandra
I never said or inferred that property owners have no rights – only that their rights were limited by our Covenants and Bylaws. And given the tone of your post, that’s about as much reply as I think is due. Thanks for your opinion
How can a Board Membe stay on the Board when he / she continues to slander a Property Owner. Board Members should not be allowed to place comments on Cove Connecion. It is not a certified Spanish Cove Web Site.
The CPOC was formed because the Board did not properly do their job in addressing the Credit Card problems.The Book Keeper’s job should have been eliminated at the same tme as the Property Managers. The CPOC was also formed because the Board Chairman refused to let the Property Owners ask questions in Board Meetings.Some could have been answered; however, the Chirman would not allow any questions. The CPOC is now providing informatiin to the Property Owners, that should have been provided by the Board of Directors.
Certain Board Members are being critical of the CPOC. They need to realize that the CPOC is doing what the Board did not do.
BOARD MEMBERS. STOP BEING CRITICAL OF THE CPOC. YOU MUST REMEMBER THAT THEY ARE PROPERTY OWNERS AND DESERVE MORE RESPECT THAT SOME OF YOU ARE GIVING THEM.
Mr. Junkin:
1–The Property Owners elect Board Members.
2–By Petiton the Property Owners can remove any Board Member
3–There are certain projects that require the approval of Property Owners.
In view of this how can you say tht Property Owners have no rights?
With your attitude you need to resign from the Board. You are not doing a very good job representing the Property Owners.
Last week I contacted Tom Lake, who is now the webmaster for the .org site, about just that thing. He intends to bring the issue up with the Communications Committee after the first of the year. Seems there has been some reluctance to post Cove documents at the site. Tom is looking at different methods / options for getting all the documents posted and more easily accessible. Sally: Your comment about the Home Page button is exactly what I recommended!
As Sarah would say “gotcha” Thanks Sally. Reminds me of that tune “jump down, spin around, pick a pail of cotton” Harry Belafonte.
Snowbird, you have to go to the Home Page, then click on “Cove Life”, then click on “The Association”, then go all the way down to the bottom of the page and click on “POASC Documents”, then go all the way to the bottom of the page and click on the pdf file. Yikes! A button on the home page could say “Documents” and take you directly to the information.
Dale -
Not sure what your question was? Both Dave and Dick did a search and found nothing relatve to the conversation. I checked the Spanishcove.org site and didn’t see any documents there.
I’m a little confused on where SC information is at. The offical site is where this info should be as it is representative of SC and accessible to anyone considering buying into the Cove. IMO.
Well, in about 6 hours I’m going to have total knee replacement so I’ll be layed up for a day or two. Merry Xmast to you folks!
Hi Dale, yes. At the very top of each web page there’s a section called ‘Documents’ where the most recent POASC documents can be found, opened and downloaded. When the document is open visitors can search for words etc with the built-in Adobe search feature.
For Snowbird and question to Dick, Dave, Sandra, et. al.: aren’t the documents referred to on this site under the tab “DOCUMENTS”?
Thanks, Ken. That sounds like a good procedure. The more information a prospective buyer can have is good for them and us. The Communications Committee put together a “No-No” list some time ago. It lists the more common rules such as permits required, etc. Perhaps that needs to be updated.
In reference to Sally concerning “covenants” We at Neighborhood Real Estate have a policy of presenting potiential buyers of Spanish Cove property on a case by case basis, and this is how it works.
Once it becomes apparent to us a buyer has choosen Spanish Cove is an area they are seriously considering buying in, we make them aware t5hat Spanish Cove is a community with rules, regulations and they require buy in and transfer fees, we also make sure they understand all the benefits they receive by living in Spanish Cove, at the latest we supply them with the latest covenants prior to any written offer being made on a Spanish Cove property, and I’m sure the local ERA office also has a policy simular to this.
The past problem with the version the office has been issuing to Spanish Cove buyers is this, they do not contain the complete set of rules, it only contains rewritten or the new rules, this information has been given to the office so it might have been changed, but if it has we have not been made aware it, hope this is of some assistance.
Snowbird and Dick. I have to admit that my search of the volumes of dull reading named the Covenants, By-Laws, and Operating Procedures did not turn up anymore information than yours. However, the rules committee within the last 3 years, under Bill Campbell discussed this very matter and recommended to the Board that the seller be responsible to make sure the buyer knew or had a copy of the documents. This recommendation was based on the fact that there was little we could do to require realtors to provide the information outside of requesting they do so and because there are many transactions that are “for sale by owner”. I am almost positive that this recommendation was approved by the Board as it was part of the discussion of giving only the abridged form of the documents or the full package and it was found that the full package was not that lengthy, however who knows.
Dave; Snowbird: I don’t know of any Cove documents or procedures that require the seller to provide copies of those documents to a buyer, and I just did a pretty extensive search. Maybe someone can educate me. Ben mentions the requirement for full disclosure on the part of the buyer, but I don’t know if that extends to copies of Restrictive Covenants and other such documents.
I don’t see how POASC can require that Cove documents be provided to prospective property owners. We can certainly encourage it, and do our best to make those documents available. This site certainly does. SpanishCove.org needs to follow that lead.
Bottom line: I would hope that most buyers perform the due diligence that Gary W outlines. I think most of us did just that. Otherwise, you may be in that Caveat Emptor category, and we end up with another unhappy camper in the Cove.
And did I mention – You have to READ the dang things!
Dave –
Your statement “Our procedures hold the seller responsible for informing the buyer of the Restrictive Covenants.” My question was – what are those procedures? Are there directives somewhere, online maybe? It still doesn’t sound like everyone is together on this.
Before I bought my place in 1996, I looked at RV property for two years. Saw an agent’s listing on the web, did extensive research on SC by computer on various RV blogs, the Cove Web site, came down and talked to people, went to a yard sale (wife bought an item), checked out the pool, the pier, emailed board members, asked about crime rates, etc. The agent told me a lot about the place, and after I bought, remember going to the office to get card keys for the RV clubhouse and the pool fence door lock, and was given a one inch copy of the covenants (loose paper that had been recopied I do not know how many times). I like rules and regulations, the people we met, the landscaping, and have no regrets.
There is also the issue of “full disclosure” and Caveat Emptor to think about.
Our procedures hold the seller responsible for informing the buyer of the Restrictive Covenants. There is no way to enforce the passing of the information on as required. I also personally feel many sellers, and or their agent, do not make the buyer aware because “you don’t give any information that may kill the sale.” That is why the seller is never wanted in the house when an agent brings a buyer over. There are signs at all entrances indication that there are Covenants. A buyer is responsible for doing due diligence the sign should light up a warning light. Personally, I don’t want an unaware buyer to purchase in The Cove because you have the potential of an unhappy resident. This is not in any of our interest.I do think POASC should crate some kind of a document that the buyer is forced to sign at the closing advising the buyer that they are not owners of anything but their home and lot, that all amenities are owned by POASC etc.
Oops! I knew there was something else I wanted to add. As soon as an employee (Security & Maintenance, at least) of POASC sees a “For Sale by Owner” sign, they should notify the manager and a letter could go to the property owner encouraging them to send the potential buyer to the office for a copy of the Covenants. If there is a charge, it could be added to the closing costs at the time of sale. Some years ago I believe we sent letters to the major realtors doing business in the Cove telling them to provide a copy of the Covenants before the purchase.
Mr. Junkins was appointed to the Board to fill a vacancy, at an Executive Board meeting. He was unanimously accepted by the Board. He was sworn in at the next regular public Board meeting. He presented his qualifications and his sincere desire to work on the P.O.A.S.C.Board, and to serve the P.O.A.S.C.Owners needs where appropriate. He is doing an excellent job. I hope this answers Julia Craigs’ question, do I approve of Dick Junkins. I do, because he is meticulous, honest, intelligent, and more, all good reasons for his appointment.
Joan Fletcher, P.O.A.S.C. Board Chairman.
The only way you can be sure every buyer receives a copy of the Covenants and other documents is to send them to each one at their home address, not to their Spanish Cove address. Many people purchase property and do not live here until they retire or perhaps come down for a few weeks here and there. Most realtors give a copy of the Covenants before contracts are signed. However, how far in advance, I don’t know. You certainly wouldn’t want to give one to every person who looks at a property. Perhaps one of our realtors could tell us when the best time is. Closing is too late. It takes a while to read the Covenants, so they should be given prior to closing, perhaps when the escrow is paid. We haven’t bought property in probably 20 years, so the procedures are a little foggy now.
I don’t know? Sales of property in the Cove, are between Buyer and Seller, and are handled by many different agents and attorneys. And sometimes, via private sale. Once the transaction has been recorded in the Probate Court, the completed paperwork is sent to the POASC and kept in the Office by Lot #. By signing the deed, the Buyer agrees to abide by the Covenants, etc.
You raise a good question, and I will pursue it further with our attorney. Although, each agent is SUPPOSED to provide a Buyer with a copy of the Covenants, I wonder how we might ensure that this happens in every instance?
One more question. Do the purchasers of property in SC receive any kind of an agreement that states their understanding of the conditions that they are about to enter into and is that form signed and witnessed? Thank you.
Observer you’re right on! Our attorney(he serves 150 Associations) describes the Cove as “unique” as compared to other POAs. Probably due to the early incorporation, circa 1975?.
In any event, we will ask him to write a “lay person’s version” of just what the Contract is: and how individuals are affected.
We’ll post it on this site when its ready………..
Sounds like nobody really understands the make-up of SC and its policies. Perhaps a lawyer could come in and give a comprehensive presentation to all concerned.
Paragraph R page 3, of our Covenants, refers to the Maintenance and Utility easement that POASC maintains over the geographical area of Spanish Cove. Unfortunately its in Legalese!
Sorry to be so late to respond to MS Craig for Board Members to either support or deny Dick Junkins’ statements regarding POASC rules and member rights and responsibilities. I am a Board Member and confirm Mr. Junkins’ descriptions and statements.
Dale Morsette
Bill, I think you have projects and changes to certain by-laws mixed up. The only “projects” that require membership approval are the sale of excess property and a capital improvement project where the value of the sale or new asset exceed 5% of the budget. Unless my memory fails me the only approval vote on items of this nature was for the pool and that was back in 2001, I believe. Membership approval is required for any Covenant changes and changes to certain sections of the By-Laws. The requirement of a vote to change the Covenants is required in the Covenants themselves. The Board agreed to require a vote on changes to some By-Law sections in I believe 2001 or 2002. The requirement to vote was made after a contentious round of discussion with a group of property owners. This vote is not called for in the Covenants.
POASC will desolve in I believe 2074. I am not sure you want that though since all amenities would then go to the State of Alabama along with any monies. That would mean no pool, no clubhouses, or Tennis Courts, etc. Remember you dues have gone to build and maintain these assets. The “Insurance Fund” which is referred to as AR&R (Asset Repair and Replacement) and has a cash value of approximately $500,000 of our assessment money would also go.
Bill Pittw: I didn’t answer all your questions. The Property Owners Association of Spanish Cove is a membership association. All property owners are members, but membership does not confer any kind of ownership. Our Covenants and Bylaws require that the Board, which is charged with the operation of the Corporation for the benefit of the Membership, be elected by that Membership. Some checks and balances are built into our Bylaws to keep the elected (or appointed) Board members from getting out of hand. You’ll find similar checks and balances in other corporations. But you’ll also find that the power of individual members, much like individual shareholders in a for-profit corporation, is very limited. The corporation is designed to be run by the Board, its Officers and the employees hired by that Board. By the same token, individual Board members have very little power to do things on their own. It’s only as a deliberative body that they derive their powers, as outlined in our Bylaws.
The corporation isn’t “owned” by anyone. It’s an entity unto itself, and grew out of the Spanish Cove Corporation, the original developers, who also came up with the original Covenants. POASC was established in 1991 under the Alabama Nonprofit Corporation Act, with its own Articles of Incorporation. Since that time, the current Bylaws, Covenants, amplifying Rules and Operating Procedures have evolved. It’s all laid out in the POASC documents, available from a number of sources, including this site. Those same documents spell out the methodology for the operation and administration of the Corporation, and the duties, responsibilities, authority, rights and priveleges of the Board, POASC Officers, employees and property owners. There are many folks who know a heck of a lot more of the history than I do, buy I’m learning as i go.
Sorry if all this is a revelation to you, but it is what it is. As for myself, I bought here BECAUSE of the Covenants, Bylaws, Rules & Regulations. I read them (continually, it seems), I understand them (for the most part)and I’m happy to abide by them. I also realize there are parts of them that could use a fresh coat of paint, which is one of the reasons I’m involved in committees and the Board.
Hope the information has been useful and hasn’t ticked you off more than you already appear to be.
Mr. Junkin
My question to you is, WHO OWNS THE CORPORATON? Also, why are Board Mebers elected by the Property Owners? Why do certain projects require the approval of the Property Owners?
If what you say is true POASC shold be diposed of. It would save me a bunch of money.
My appreciation and thanks to the P.O.A.S.C Board of Directors as well as Mr. Butch Price. I must not leave Sandra and Sally out fot Cove Connections.
Naw, changed my mind. Sometimes it’s tough being a lady. Ignorance is it’s own shield after all.
Ms. Craig, for a person whose background was in the field of business, you apparently know little or nothing of the workings of a corporation. Your ignorance of the subject is not a crime, but it borders on it when you attack the person who has spent his time to clarify the subject for you. I suggest you re-read his clarification, and apologize to Dick Junkins for your attack.
The Owners didn’t create the corporation, they voted to accept it from the developer.
Julia, I’m sorry that you’ve been burned but maybe if you work as volunteer you’d get to know the residents and Board members of Spanish Cove. They’re decent caring people.
I believe the POASC Visa statements, that were furnished to CPOC by the Board of Directors, provided the information | data that populated the CPOC’s committee reports. No coverup there!
I also seem to remember that you and Wally talked about CPOC at several Board meetings.
If you don’t know Dick’s background, education, job history why don’t you ask him – he’s just a phone call away.
I really can not believe this discussion. Julia, you are under a complete misconception. POASC is not a governmental body in any form or manner. It is a corporation, a business. What say do you, or anyone else have in the running of GE or Marriott. In their case you are a stockholder, a minority owner. You have no say in the day to day operations. Dick is completely right. Under our Covenants which your mother agreed to, since she is the owner of the house you live in, you have certain limited rights, and an obligations. One of the obligations is to pay assessments so the corporation can provide the amenities you and the other residents can enjoy. Yes, you can threaten to withhold your assessments. In fact you can even not pay them. Examen, however, what the result of this action accomplishes. First your mother loses the right to vote or use any of the amenities. Second, your mother has the privilage of paying us 4% per month interest on any overdue monies. Third, she will enjoy having a lien placed on her property for monies due including all interest and charges related to the filing of the lien. Lastly, she and you can start looking for a new place to live after we foreclose on her property. It appears to me that your mother bought her property in The Cove without doing her due diligence, or was the purchase based on your advice?
Marge, I do not understand your comment about not being able to talk at any Board meetings. No one has ever been denied the right to talk–that is make a statement at a Board meeting. The Board has then right and even the obligation to not answer a question if they have been advised that comment on it would put them in a position of possible suit. In my opinion it is better to error on the side of safety than to say things which can cost POASC money. Frankly, I am a little surprised, and disappointed that you and Ken, who sell property within The Cove and I would hope are familiar with our Covenants and By-Laws allow one of your members say things which are so completely incorrect when it concerns the rights and status of the member. It makes me wonder.
Mr. Junkins,
Your statement speaks for itself. I mis-read nothing. The entire committee has offered it’s services to the Board time and again ad infinitem. It is the Board who does not want what they consider to be ‘interference’. Why are decisions made by only PART of the Board? Why isn’t the actions of the POASC along with it’s financial records transparent?
You are right in that I am angry. I am resentful. The very people who are my neighbors, whom were entrusted to safeguard MY and my neighbors Best Interests are covering up wrongdoings, not answering valid questions and trying to make honest caring individuals go away and not bother them with the ‘details’. My question stands, who on the Board agrees with your statement?
And now there us a new one…why should I or anyone else trust you? We do not know your background, your education, your job history. In fact we don’t you from Adam, but we are supposed to blindly believe that you are the man that can effect the changes that need to be made…sorry…been there done that…been burned.
Ms. Craig: It’s apparent you didn’t actually read my posting before launching into your diatribe. What I wrote is correct. We property owners have a limited role in the operation of the corporation, other than those powers conveyed by the Covenants and Bylaws. I never stated or inferred that we have no voice, but that we hsve a limited voice; that we have a system established for the operation of the Association and its assets, and that system is structured around a Board of Directors, its committees and Cove Management.
There is no need to be angry, resentful or write mean-spirited things about others at this site. If you’re a property owner, you can become part of the process and help improve things in the Cove. Or you can sit in the dark and curse the night. I suspect that calling me names and impugning my motives or abilities reflects more on you than me.
This place runs on a small band of hard-working employees and dedicated, community-minded volunteers. My point is and has been: Rather than tear those people down, try to work within the system they have agreed to uphold. Might turn out to be a better way
For those out there who think that we are taking this issue, or ourselves, a little too seriously, understand this…
We can do the math too…
1530 homeowners multiplied by $52 a month for twelve months, comes to $954,720 per year in assessments alone.
Not only are we the size of a small town, we have the same problems of a small town. Take a stand. This is your home…are you really going to let a few people tell you to sit down and shut up because they know what is GOOD for you? And you don’t?
Mr. Junkins…you scare the hell out of me!
Your last statement that once we pay the assessments to the POASC we have little or NO say over how it is used, and that the Board doesn’t answer to the Homeowners is incredible!!
That is the same as saying, once we pay taxes to a state or federal agency, our elected officials can spend it any way they please, and not be answerable to their constituency for it!!
There have been many politicians who felt that they were “above the laws of the people”. History has dealt with them quite severely. In the case of one ex-President who felt as you do, he found impeachment proceeding were filed against him. To his dying day, he couldn’t understand why people hated him, and found him to be one of the worst presidents in the History of our Nation. If the entire country can come together to defeat tyranny, so will the people of Spanish Cove if pushed too far.
Perhaps you have forgotten, but this is a nation OF the people, BY the people and FOR the people. How many of our loved ones and forefathers have died for those words that you so easily throw aside? I can show you mine back to the Revolutionary war, which was fought against people who felt like you do.
In Communist countries, people pay taxes, but have NO say in how that money is used, or who gets to spend it. That is not the case here in the Cove, nor in our beloved country! If you prefer it your way, you are in the Wrong place.
As to the “limited power” of the homeowners, let me tell you that it was homeowners who formed the Corporation and homeowners can disolve it as well! How long would the Board be able to operate if the Assessments stopped rolling in?
Your message is the perfect example of what is wrong with the way the POASC Board members are thinking. The worst part? is that you are the ‘Assistant Treasurer’ although no one is sure when that happened or how that happened, kind of similar to what goes on in a Communist country…AND the man who we are supposed to trust to create new policies and procedures to protect the very homeowners you so disdain. Is there any doubt left out there as to why the CPOC is fighting so hard to obtain full disclosure? To obtain neutral professional guidance to write the new policies? To stop the theiving that has continued to happen due to the Board’s lack of oversight, or caring?
I would like to see how many of your fellow Board members believe in your last statement enough to stand up and support it publicly. I challenge them, your fellow Board members, to take a stand here and now…Please respond to this message, one line will do…either, yes I feel Mr. Junkins is right, or No Mr. Junkins is WRONG! It will be intersting to see how courageous the Board really is, and where there politics are as well.
Stand up Homeowners! Join the CPOC. Let your voice, your vote, your money count for more than speed limit signs and pool furniture. As Americans, we have ALWAYS had to fight against tyranny…taxation without representation…Politicians who think that once elected, they answer to no one!! This is NO DIFFERENT!! To add your voice to the outcry, email me directly at jcraig627@yahoo.com .
For all who read here – a few realities:
We property owners do not “own” the Cove, nor do we “own” POASC. We are not shareholders; we have absolutely zero financial interest in POASC. The money we pay in Assessments, once it leave our hands, is no longer “ours”. We own the property on which we place our homes, and THAT’S IT!
POASC is a corporation established to manage the common properties and amenities put in place here for the enjoyment and use of the Membership, who are Members of the Corporation with very LIMITED rights. The POASC Bylaws spell out what those few rights are, and show how most individual rights are given over to the collective called POASC.
The Board’s principal duty is to the POASC. Though they are required to keep the property owners’ interests in mind, their principal obligation is to the health and welfare of the Association.
Once we give up our assessment payments to the coffers of POASC, it is no longer our money. It becomes an asset of the Corporation and we no longer have any direct and very little indirect control of it. Aside from some few upper-level restrictions which require a vote of the Membership, The Board and Cove Management can pretty much do whatever they see fit with those monies they receive from us. Doubt me? Check your Bylaws.
Thank goodness that, for the most part, we have good and conscientious Board members who try to keep the property owners’ interests at heart when making decisions.
It’s not a perfect process, but it works most of the time. We find things wrong with our procedures, we fix them. We find things that aren’t so important; we fix them later. But we plan to get them all fixed, so that by and large the system works.
Where it doesn’t work today. We’re tasked with making it better. Join us in that endeavor. It’s a thankless task, but personally satisfying. Try it. I think you’ll like it.
Some of us need to gain a bit of perspective here. The value of the “questionable” expenditures revealed by the CPOC in their review of past years’ credit card statements is relatively small with respect to our annual budgets. That’s not to say that the holes in our financial procedures were insignificant, it’s only to say that it’s not the end of the world. And the significant holes have been patched. How much are we willing to spend to validate these expenses, and what do we gain? If we were to spend many thousands of dollars on Ms. Craig’s forensic specialist, and he or she were actually able to match expenses to “things” purchased, and somebody was still around to say, “Oh yeah, that was a valid purchase” or “Gee, I don’t remember that one”, I believe we might well discover that many of the “questionable” expenses were valid – or worse, that they are still “questionable”. Remember, “questionable” means “We don’t know what it is”.
So what’s the point? Who or what are we after? Sounds like the Treasurer is next on the hit parade, now that Davison and Nygaard are gone. Let’s move on, and move forward, please. We don’t need to spend good money to maybe discover information of limited value. And no, Ms. Streeter, we don’t need to pay a CPA to come in and write instructions we’re perfectly capable of writing ourselves. You need not concern yourself with our qualifications. And yes, we’ll do it in a timely manner.
Any of you folks want to go after somebody? Try our illustrious Federal Government. Latest word is that they expect 10% to 15% of fraud, waste and abuse on the $700 Billion of “Stimulus” money Congress is spending. Now there’s a thought!
LOL, my name is Sandra and aren’t you [CPOC] taking yourselves a little too seriously? I know I am!
G’Nite ya’ll.
Sharon, In response to your ” Request for Support”.
In speaking for myself.
1. I appreciate that there have been some changes made in the running of the POSAC office. But you need to tell it like it truly has been.
2. The Cove has NOT, (how many times do we have to say this) hired a forensic CPA. I don’t think that Rick Lowe appreciates you saying this, as it’s true. He is a CPA and my understanding from the Finance Committee, he will be used only a couple hours a month to oversee the accounting and only after the Sub-Committee has written the new rules for running the office and accounting proceedures. These proceedures should be written by a professional NOT by some of our property owners that will meet one hour a month ( as the meetings now last) will eventually get a policy together. Then present this to the board for their approval. Seems to me we need to have them done by someone that knows in the beginning.
I understand we have a new Operational Manager, and can you imagine what a time he is having when we don’t have a “Operation Manual” after all these years.
I understand that the Cove has already hired a new Bookkeeper. Does that mean they are also hiring an Accountant or is that the Forensic Accountant your talking about
When you ask why the CPOC doesn’t help and support. I don’t know where you’ve been, but this committee was only started after we asked some of the Board Members many months ago to check into the alligations against the Operation Manager and Accounting System and were told there was nothing wrong being done and to stay out of this business. Next we went to the Board meetings ( the next 5 months) as concerned property owners and every time we asked a question were either told they could not talk about the issue or the Chairman adjourned the meeting. Now you tell me what else could we do but to go to the property owners ourselves. So, don’t ever say we don’t support our community, we are the ones that are trying to look out after the money the property owners have intrusted in Spanish Cove. We elected the Offical Board members to watch after our interest and money, at no time should they tell the property owners to just butt out and let the same people that were suppose to be overseeing our money and making sure the policys were in place and being enforced handle this problem.
I do appreciate the use of your web-site, since we haven’t been able to talk at a board meeting or print anything in the Update. Maybe the Lillian won’t sensor us, but isn’t that a shame.
We maybe small but this is just the start.
Ms. Bonnet,
This may be difficult to understand, but the CPOC IS supporting the Board. We have reiterated many times how pleased we are with the initial steps that have been taken to improve the current situation. But those steps alone are not enough. We have made our position clear in previous comments posted under “Subcommittee Established…” so I see no need to say it again.
However, there are some discrepancies in your statement that I should address.
First, Mr. Lowe has stated that he is NOT a forensic accountant. To say that an MD in General Practice is a brain surgeaon is not accurate, and very misleading, if what you really need IS a brain surgeon. Same is true with accountants. Also we appreciate the fact that you took the time to do the math, but what has how many people are members of the CPOC to do with anything? The Board is responsible to EVERY homeowner. Would the Board be more interested in our help and opinions if there were say 50 homeowners? or is 100 the magic number? perhaps the Board is only interested when there is 20% of homeowners who have come together?
The CPOC stands ready to assist the Board in any way it can. We even published that in our handout. We are still waiting for their call.
Sandra -
But it only takes a spark to start a fire and if you can’t stand the heat, well u know.
Thank you very much, Sandra.