Chapter 11- 2003 POA Crisis
During mid-2003, the POA experienced a crisis which generated a major distraction for property owners and POA employees alike. The Chief Financial Officer for the Association made serious accusations alleging financial improprieties against the General Manager and other employees, and accused the POA Board of failing in their fiduciary duty to see that POA monies were adequately protected. Subsequently the CFO had fraud allegations directed at him by others. The CFO was fired after it was determined that he had obtained his job with false credentials, and he then began sending blanket emails to Big Canoe property owners to secure their support.
Subsequently, in August of that year, General Manager Troy Ledbetter retired and, at the August Town Hall meeting, the board announced three property owners to serve on an interim basis as General Manager (Harry Gilmer), Chief Financial Officer (Emory Williams), and Chief Operations Officer (John Cutler). Special Audits of the POA were commissioned to look for fraud and/or poor financial practices, and a feedback was given in early 2004. No fraud was determined to have occurred, but numerous instances of poor practices were reported. The board together with the interim managers addressed the reported deficiencies along with others that became obvious. By the end of 2004 there was strong evidence that major improvements in practices and procedures had been made, and all recommendations contained in the Special Audit Report had been completed by early 2005.
The interim managers served for various lengths of time, and in August 2004, Stan Stewart was named as the new General Manager.
Going back to the August Town Hall meeting, a presentation was made by a task force of property owners giving the results of the Big Canoe Organization and Management Study (BCOMS). This effort had been commissioned by the POA Board to provide comments and suggestions for future POA governance structure and processes once the property owners obtained control of the Board. The BCOMS’ recommendations were used as one source of input during the 2004 Governance negotiations.
-
About This Site
This site is presented as a resource for use by Big Canoe property owners. Information found on this site will often differ from that which is presented by the POA Board, the current administration, and some of the committees. Much of what you will see here is opinion, but the opinions will be formed from the best available information.
As property owners and users of this site, you are urged to bring attention to the good things you see as well as the bad. You are particularity urged to bring attention to acts by our employees when those actions exceed your expectations.
Property owners have strongly held views and they are encouraged to express their views on this forum. Please refrain from name-calling or attacking individuals. Keep in mind that the goal is to effect change, not create enemies. -
Recent Posts
-
Recent Comments
- Chris Beechler: This proposed R&R Reserve Fund plsn needs some clsrificsation for it to be meaningful to me. Here...
- F Shead: Congratulations, very well done.
- F Shead: Must address no-bid contracts. There must be wording added to stop multi-million dollar “no-bid”...
- Larry Grizzle: I would like to think that everyone involved in this process feels they’re doing the right thing...
- DAVID KELLY: My fear is that the POA Board will turn around and increase the monthly assessment to generate the funds...
- Don Wyeth: My numbers as to homes and lots may be slightly inaccurate but are close enough to establish a point....
- mark sementilli: So this is the new and improved CIF? What a dissapointing outcome. I don’t want to appear as...
- Don Wyeth: By now most of you are aware that the POA Board has , after great consideration , come up with a new plan...
- mark sementilli: Doug, The one area or your letter that strikes me as truly amazing is the purported spiking of the...
- Doug Piggott: “Corporate” Board – Fact or Fiction? You decide. Some would have us believe that this term...
