Who said it wasn't? I said I had not seen it. I believe you can view it in the budget book in the lobby at the admin building.

As for the golf and yacht club, the HOA Board does not have the expertise, knowledge running these types of businesses. The GM most certainly is not experienced in these types of operations. As you know the board wasted and paid out more money over time for what was called "drainage" work masked as major capital improvement to the course. 

As has likely been the case since the first Board of Directors and first GM. This is true for any "elected" group of people, from the federal government on down. They come and they go and it is not their personal money at risk.  I don't say that in a disparaging way, either. I appreciate those who step up, run for office, and get to run things. It is simply the nature of the beast and always will be to one extent or another. Stuff run by an elected group will rarely be run as efficiently as a privately owned business. For starters, a poorly managed business will not be in business very long. A business run by any elected group is kept afloat by the "taxpayers."

In OPA-Land what saves us is that the losses are divided among 8440 payers.