Ted Mulvihill sends me this picture to remind us of just why we choose to spend time at Coral Beach. Have a thought for our President who is having to cope with at least an extra foot of the white stuff in nearby Maple, Ontario.
It is worth trawling through recent comments as many Owners are responding to the financial statements. I also see that I have just received the Treasurer's report by email.
4 comments:
Thanks for the snow bird picture - I wond how it is in New Jersy? I know it must be cold outside.
This cold snap is a bit chilly for me, since I live in the south.
Keep up this blog, Pat, it's great!
Weezy
Is Mr. Galiano sending a treasurer's report or a building and grounds committee report? Whichever it is he misses the mark on several important points.
Neither Mr. Galiano nor any other member of the 2006/07 board, with the exception of Mr, Delorme, has responded in the last year and a half to any communication from this owner (e-mail, phone, letter). Because of this I write under my own name in this blog. I understand why owners would write anonymously as Mr. Rufa said to me after the 2007 AGM that this is his year for revenge.
Mr. Galiace our questions are not about maintenance fees. The BOD minutes of 18 Jan.05 report $690,000 in CDs and $116,571.00(B) plus $57,057.00(US)in cash. BOD minutes of 14 Jan.05 report a hurricane settlement offer of 767,115.60. This claim was reported to be re-opened in the 6 Feb. 05 BOD minutes. Was there even a greater insurance settlement as Mr. Rufa hinted at in 2006 Open Forums? Now to top it off, we add a special assessment of $800,00.00. This gives owners a grand total of $2,430,743.60!! An amount of money with which to work no previous BOD has EVER had. This is what we want accounted for; and articles DEMAND that DIRECTORS keep these records and have yearly audits and make these records availables to owners.
The special assessment was for spalling, painting, A/C,and guttering. This work is incomplete. Are these the large projects there is not funds for? G-7's bid, 14 Nov.'05, was for $372,000.00 and in the BOD minutes of 13 Jan.'06 the BOD set aside $150,000.00 for materials for this project. Where went the remaining$1,908,743.60?
This does not include our regular maintenance fees and hotel room sales.
Susan Roche
Phil, Phil, Phil....don't you know you can't sue people for stating the truth? You have grossly underestimated the owners' ability to perform their own due diligence. Further, the bloggers are expressing their own opinions, which is allowed in a democracy
(the Bahamas still is one,but apparently not Coral Beach).
In an Owners forum last Nov, you threatened to sue any owner who does not follow the Articles("and I have the means to do so"), does it not follow, then, that you and all Board members can also be sued for failure to follow the Articles? You know, one set of rules for everyone?
At kast reading, the Articles, as well as the Law of Property and Conveyancing clearly charge you and all Board members with the responsibility of:
1.keeping all documents, records, receipts, accounts and books available in the company office
2. making all documents, receivables, accounts, records and books available for inspection by owners
3.providing a certified audit on an annual basis to the body corporate. Here, there is no provision for relieving the Board of this responsibility because of messy account keeping.
I would be very careful about pointing fingers at others because, as they say, the finger eventually ends up pointing back at you.
Phil,
I just finished reading your Treasurer's/Building and Grounds Report. While I disagree with much of what you have to say, I will leave that debate to others.
I do feel I must comment on your diatribe against those posters who choose to remain anonymous. Let me point out that not everyone leaves their names off their posts. I, for one, have certainly been willing to sign mine as you can see throughout the blog.
However, I believe this dynamic was actually fostered by the actions of the Board when it punished vocal owners by denying rentals without cause, by turning off the electricity of other owners for months and months, as well as other owners who have reported threats made against them and their families. These Board actions were certainly not lost on the rest of the owners. I am certain that the more the Board did to harass select owners, the more obvious it became to others that something very wrong was going on. Can anyone blame them for not wanting to stick their necks out after seeing what happened to many of us?
If the purpose of those punitive actions was to suppress criticism of the Board among owners, history shows that those tactics never succeed. Instead of stopping criticisim and dissension, you only force it to go underground. Any politico will tell you that.
That is what you are experiencing now.
I suspect this criticism will not go away unless and until the Board comes forth with full and complete disclosure of all expenditures
(every penny and every detail)to the satisfaction of all owners/shareholders, and establishes an open door policy on inspections of any and all records at the request of any and all owners/shareholders. In short, the solution to whether all of this underground criticism continues or ends has been in the Board's hands all along.
Jean Mankamyer
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