YOUR MOST IMMEDIATE SOURCE OF CANDLEWICK LAKE NEWS, EVENTS, AND OPINION.
THIS SITE IS INDEPENDENT FROM THE CANDLEWICK LAKE HOMEOWNERS ASSOCIATION

Saturday, September 28, 2013

Thoughts on borrowing

We all have read or heard how so many local governments as well as bodies all the way to the top are drowning in debt. We are not. We have solid cash reserves. We need to keep solid cash reserves.
Every so often we hear of what I consider a bone headed plan to borrow money for some major project and pay it off over many years. This is folly and will eventually sink us as an association. I believe in operating always within our existing means with funds on hand to cover almost any unforeseen calamity.
There is an election coming after the first of the year. Mine is the only seat up for grabs. If I remain on the board or not if ever I hear of any plan to borrow for new amenities or any other purpose I will be there to oppose it. I know of not one current board member or finance commission member in favor of such a disastrous plan but I am sure some "big ideas" are hiding in the weeds waiting for an opportunity. Stay alert!
Ken