Our common interest community problem can be solved by tracing properties once owned by those who were forced to sell and/or by tracing the when, where and how ownership changed. Who now owns and/or owned the properties.? What properties were or are owned who had access to inside information. What is that information worth? Ownership information is the key. Records have disappeared. Important records are stored off site. Who had or still has access? What records were trashed or have gone missing?
What properties are now by individuals and/or groups who had or may still have inside information, investment groups, etc. Do they include partnerships, corporations etc. Have the properties wound up in auctions and if so, who owns them now? Some of the answers are readily available and some are not. Was payment for services rendered?
Our common interest community problem can be solved by tracing properties once owned by those who were forced to sell and/or by tracing the when, where and how ownership changed. Who now owns and/or owned the properties.? What properties were or are owned who had access to inside information. What is that information worth? Ownership information is the key. Records have disappeared. Important records are stored off site. Who had or still has access? What records were trashed or have gone missing?
What properties are now by individuals and/or groups who had or may still have inside information, investment groups, etc. Do they include partnerships, corporations etc. Have the properties wound up in auctions and if so, who owns them now? Some of the answers are readily available and some are not. Was payment for services rendered?
There are many, many ways to get very wealthy at our expense, very quietly, without a person's name being attached. Our so-called audits do not enter this world of how some become very rich at our expense. Many have known for a long time about the out-of-state purchasers who own many homes that had inside information. That information is not readily available to the membership. It takes money to follow the trail. Some time ago I posted that rest of us are like sheep waiting to be sheared of everything we own. I have not changed that opinion.
BOB HALL
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t very wealthy at our expense, very quietly, without a person's name being attached. Our so-called audits do not enter this world of how some become very rich at our expense. Many have known for a long time about the out-of-state purchasers who own many homes that had inside information. That information is not readily available to the membership. It takes money to follow the trail. Some time ago I posted that rest of us are like sheep waiting to be sheared of everything we own. I have not changed that opinion.
BOB HALL
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-----Original Message-----
From: "John Galt vegasjohngalt@yahoo.com [SC-SCOOP]"
Sent: Mar 15, 2015 12:57 PM
To: "SC-SCOOP@yahoogroups.com"
Cc: Bernard Silver , SCBOARD , SUE PAPILION , BOB FRANK , SUN CITY SUMERLIN LSC , BOB ROBEY , My Sun City Summerlin-Blog
Subject: Re: [SC-SCOOP] Re: SCSCAI JANUARY 2015 SUMMARY OF OPERATIONS
Dwain,
SCSCAI financials get audited annually according to GAAS (Generally Accepted Auditing Standards). I am not aware of material audit adjustments that have been required from the auditors in the course of their audit so I am fairly confident our financials are free of material misstatements.
I think don't think combining for-profit and not-for-profit complicates things, except perhaps for taxes. The fund accounting with reserves may make things complicated. But I believe we would still have that complicating feature even if we were only not-for-profit.
I think the issue at hand is the qualifications of administration management. It appears that things are not running as smoothly as they once did. Maybe things never ran smoothly but the chaos seems to be showing more.
The true cost of "volunteer management" is hidden, that is, you won't see it on any financials. Maybe that's a good thing. Maybe ignorance is bliss...
But you make a good point.
JG
Bernie, I have come to the conclusion that this is the True Cost of Volunteer Management (free Management). Sun City Summerlin is a self managed community by nine volunteer Board of Directors. (only Management qualifications needed is membership in a small political group)
What can be expected from an (unaudited) Balance Sheet? Moreover SCSCAI has a very complicated financial structure because it consolidates the balance sheets of the membership funds (Dues) with for profit cash business (golf/restaurants) therefore, co-mingling assets, liabilities and ownership and not providing the accountability of Generally Accepted Auditing Standards, or GAAS to the SCSCAI membership. The Board and Management are well aware of this and refuse to address this problem, Why?
It is logical to think that this situation will continue until this mismanagement has been stopped. Accountability and the end of controlled Communications is needed.
