From the “0808 Financial Statements” - Big Canoe Property Owners Association, Inc. - August 2008:

“Summary of Operations at August 2008:”

“Balance Sheet:”

“The cash balance of $1,817,804 has increased by $336,187 since the end of July.”

The above looks/reads good, doesn’t it; but didn’t the cash balance actually decrease by $338,813? Read more below:

“It should be noted, based on a detailed review of future cash flows through April of 2009, an additional draw on the Wachovia was made in the amount of $675,000 [to cover the cash flows shortfalls].”

“It is anticipated that cash flow will be sufficient enough by April of 2009 that repayment of this amount can begin [after a new CIF is put in place?].”