Tuesday, November 06, 2007

It was a pretty dark morning along the coastal bend today. The power went out about 5 am and didn’t come back until about 8:15 am. It was off from the north side of Corpus to at least Fulton. I heard that a power station in Corpus had failed.

Fishing has been a bit better. Pat and Jimmy caught six trout on the pier on Friday night and Pat picked up one while fishing for flounder on Saturday morning. The guests in 402 went with a guide to San Antonio Bay on Saturday and came back with only three trout. Pat (602) went out this morning and got his limit of trout in less than two hours. My son, Ryan, took my boat to Cedar Bayou on Saturday, but did no good. He did see a feral hog swimming across the intracoastal. He said he put a pretty big wake on him and just kept paddling along. I’ll post at the bottom of this message what I caught off the deck this evening. I’ll not say publicly how large it was, but it was big.

Rob has hired a contractor, Chuck Wright, to finish the detail work on the decks. The decks look much better after he trims all the edges and squares off the corners. Tom is no longer working for Justin. I think he is back in New Mexico. The second stucco man was let go and work is stalled on that project. The stucco was being replaced where new flashing was installed around stairs and decks.

I picked up a September financial statement last week. For the month we had budgeted $36,004 and we spent $57,429. The largest over budget item was “repair and maint-other”. It was budgeted at $350 and we spent $9,454. I have no idea what that is. Another over budget item was security. The budgeted amount was $320 (although that is not the amount on the adopted budget) and we spent $2,000. I have to think that is a result of the theft that took place in August. Paul did say his hours were increased. For the year we have gone from $6,559.94 to $94,543.26 in negative equity.

I visited with Gary Cate today. I asked him to help me understand what the legal disclosure statement means when it says,” Management has elected to omit the statement of cash flows and substantially all of the disclosures required by generally accepted accounting principles” and the paragraph that says,” The American institute of Certified Public Accountants has determined that supplementary information about future major repairs and replacements of common property is required to supplement, but not required to be a part of, the basic financial statements. The Kontiki Beach Condominiums-Phase I Council of Co-Owners, Inc. has not presented this supplementary information.” He was very helpful although we digressed somewhat into talking about deer hunting. I asked if he thought that we would have the October financial statements in time for our owners’ meeting. He said that he had one other HOA that is meeting soon also, and that “yes” he would probably have them ready.

0 Comments:

Post a Comment

<< Home