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6/17/2019 1:23:58 PM
 
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Section 5: OPA Board Subject: F&Beverage Forensic Audit Msg# 1049235
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Joe,
The Board as the governing body shares the responsibility. However, I was pointing out that not all seven directors stayed passive as it was unfair generalization. You should remember, as I recall you observed those board meetings during summer of 2017. I was the director that argued against the 20% discount for being a bad business decision and because it directly affected the approved budget. I was the lonely voice on that one. I was also the director that voted against the budget because revenue projections for the YC and BC were, to put it politely, overly opportunistic. You are correct that something drastic should have been done by the Board by July 2017.... I hope you remember that I tried very hard to do just that and you know how that turned out.... Have a nice week. Slobodan |
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For reference, the above message is a reply to a message where: I was not aware of the problems but I took immediate action the moment I learned about Mary Bosack's resignation and the reason for her decision to do so. Beverly was talking about the massive operational losses and labor costs. I am not sure what action you took personally, but the Board of Directors allowed the operational losses to go on and on at the Yacht Club and Beach Club after it was obvious management was losing money hand over fist. Then John Viola took over as the Director of Finance in spring of 2017. He along with then Treasurer Pat Supik should be able to explain / answer why things were allowed to get much worse financially during that summer of 2017. Slobodan, are you suggesting the board had no responsibility for those massive operational losses? The Board of Directors in the summer of 2017 sat back and watched as operational losses ballooned to about $1 million or more. Something drastic should have been done by the board no later than late July and possibly earlier. |
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