By Anya Kaats
Late last year, the Baca Grande Property Owners Association (POA) hired a forensic accountant to improve the accuracy of its financial records. “Straightening out our finances has been more difficult than expected,” said LeRoy West, vice president of the POA Board of Directors during the last POA Board of Directors meeting on Jan. 16.
The board parted ways with its previous accountant who, after a year, failed to correct long standing issues with its account reconciliation from 2023 and 2024. “Our accountant was unable to deliver accurate financial records or resolve critical discrepancies,” West explained, adding that although the accounting records are in worse shape than the board previously thought, the POA’s financial position is actually better than anticipated.
Addressing a recent rumor that started on Facebook that claimed the POA was in danger of bankruptcy, West reassured the board that the rumor was not only untrue, but that POA bank balances exceed two million dollars. “That seems like a lot of money for an organization our size,” said West, adding that the POA is aiming to have four million dollars in reserves, on top of its operating balance. “We’re making good progress,” said West.
Despite the setbacks, West expressed confidence in the new accountant’s ability to work alongside staff to improve the POA’s financial records. “We’ve come a long way, but there’s still work to be done,” West concluded.