Don't Blame Tom Judson

There are grains of truth in some of what has been said about POA reserve funds recently. What is not true, and misses the mark, is the notion that what's happened to the reserve funds, and how they were spent, is Tom Judson's responsibility and has been done at his direction. In fact, spending down of the reserve funds was started well before Judson was hired and was done at the direction of two previous boards, including the one I served on. If anything, Tom just continued what he heard as direction from the board to continue on that path. So, why did we do that?

It's very easy to speak in worn out platitudes and cliches about "living within our means" and "we need rainy day funds" and another thing altogether to define what that means in real terms. Reserve funds were around $12 million when I first joined the POA board. At the suggestion of board director Brad Morris, a former chief financial officer of a major U.S. corporation, we began to question why a non-profit, 501(c)3 corporation, with a guaranteed monthly revenue stream from assessments, needs $12 million in reserves. Why $12 million? Why not $10 or $5, or $1 million? We quickly discovered there is no model or formula to be found to define that for us. We had to follow what one would call a "prudent man," rule of thumb, process to maintain "adequate" reserves and at the same time explain why many of our most prized assets -- the Yacht Club, for example -- were rotting to the ground.

We started projects to revitalize our assets, bringing all facilities up to current ADA compliance, replacing software systems that were no longer supported by vendors, replacing the crumbling Highway 71 marque signs, remodeling and reopening the Lake Point Event Center, repurposing the Branchwood golf course, partnering with the city to build trails and other projects. Many suggestions came from the Joint Advisory Committees. These are volunteers -- your friends and neighbors. Their suggestions were presented to the board, and the decision to proceed came from the board of directors -- your elected representatives -- not Mr. Judson.

You can make a very good argument that we need to rebuild reserve funds before we consider any new projects. That starts with the board of directors with input from their employee, Tom Judson, and of course the membership. That should be done in a civilized and respectful fashion without chaos. It's every member's right (duty) to question what their elected representatives in this corporation do, but the misinformed vitriol in recent letters, social media and board meetings goes beyond the pale. There is a vast difference between healthy, informed skepticism and vicious, nihilistic cynicism.

My hope is that both sides will return to a civil, fact-based discussion of the issue, open their minds to possible solutions and acknowledge the validity of each other's point of view. And, oh yeah, quit blaming Tom Judson.

Jane and Dave Barfield

Bella Vista

Editorial on 10/17/2018