Fellow Residents – There will be folks having the opportunity to speak at the Meeting tomorrow at the Club House. The Board needs to be challenged on its behavior and more specifically its agenda for Aquarina. The irony is that the Board’s real responsiblity is not an agenda but to maintain our community, and not change it, add to it, or take anything away. The Board is taking the role as a developer, but the irony again is that a developer has its own funds where this Board in their cloak as a developer has no funds to use other than the Residents’ funds, which the Board uses at its own discretion without a required Resident vote.
The first Big Demand to the Board is for them to make available the AGI financial data, which by Florida State Statutes is the Board’s legal responsibility to maintain and the Board’s legal responsibility to provide the Residents upon request. AGI is owned and controled by the ACSA (the Residents) by fact of the direction it is provided by the Board and by fact that the Residents subsidize the AGI. AGI is not an entity unto itself to do what it wants. All expenses and revenues of the ACSA and its subsidiaries (like AGI) are by Florida Statutes required to be maintained and made available to the Residents for review.
Being told otherwise is bogus. If the Board denies the request, then ask by what Law. The Residents have a State Statute to see the data. What law does the Board have to deny the request – the Board’s own discretionary law?
Remember from the last Blog post to the Board President – where he states that AGI generates income to pay for 80% of its expenses/costs. If there is a budget line item where the Residents need to pay be at least $200,000 to subsidize the AGI, then doesn’t it make sense that the Residents are paying the 20% of the expenses/costs that are not paid? That interprets to a total $1,000,000 in expenses/costs, and the Residents are forced to be in an unknowable state with the $1,000,000?
What is being hidden?