An email from former POA president, Lloyd Ramirez has been circulated concerning the forensic audit ordered by the POA treasurer, Mike Schaefer. Its contents reads as follows:
From: Lloyd Ramirez
Sent: Thursday, September 03, 2015 4:22 PM
To: Craig Harvey
Cc: Don Crosby; Marshall Kyger; Paul Montjoy; John Fletcher; Donald P. Silcio Jr.; Mark Boyd
Subject: Fw: Response to Financial Truth
Gents, Good letter (see:Director’s Rational for Blocking Treasurer’s Audit) . Looks like the Treasurer went out on a limb. I suspect he can be removed from the Board IF he spent unauthorized money. Bylaw Section 4.9 provides for such a removal by vote of the members. Also, I see nothing in the Bylaws that authorize the Treasurer to act without Board authorization (but of course I am not an attorney). Board authorization is provided in Section 5.4 when the Board is acting “as a Board, regularly convened”. Finally, I was amused by the comment that the Club is “loosing $50,000 per
month.” If the Treasurer would bother to read, NONE of the 5 instruments that the POA operates under requires the POA to make a profit or otherwise not lose money. In fact, the POA Charter and Bylaws establish the POA as a non-profit (that means to NOT MAKE A PROFIT) land management firm whose sole two responsibilities are to operate and maintain the people’s amenities and to provide the architectural control for the Covenants. In fact, while it is always nice to hold down costs, there is NOTHING requiring the POA to make a PROFIT. In fact, if memory serves, if the POA does make a profit, it would probably lose its “non-Profit” status, meaning it would lose its tax reducing advantages and have to start paying taxes on its “profits” as well as very large property taxes from which it is currently exempt.