The proposed Budget shows an equity transfer over to AGI from the Residents’ fees. This is a masquerade statement for a subsidy to keep the Golf and the Tennis businesses financially afloat. Surely, there are probably additional funds moved into these businesses through other payments; however, we, the Residents, are not permitted to know that information. Just ask the Board for a detailed accounting of the Golf, Tennis, and Brassie Grille operations, and hear the response. “We are not obligated to share that information.” Really? Hmm. Our $200,000 subsidy goes down a black hole?
The most cost effective way to avoid the Board’s collusion with AGI , which then has Resident funds disappearing, is to hire a management team to independently run these businesses. Aquarina could collect rent payments from these businesses for the use of Aquarina’s facilities, and have the ability to evaluate, but not control, these businesses, other than the ability to dismiss management if they do not perform. The risk to have these businesses perform should be on the hired management and not the Residents. The Residents should see rent payments to them, and not Resident deficit payments to the businesses.