Dear Sir,

The financial crisis north of the border and elsewhere, has trickled down to the Lake Chapala Society in Ajijic.  The LCS is about broke!

According to their just published News Release, "In April 2008, the Board of Directors BEGAN (my emphasis) to realize there were serious problems with the budget put in place in 2007".

The financial situation of the LCS has always been one to be carefully watched.  Apparently it took the current board months to notice a problem and then 6 months more to take decisive action!  Employees have been fired and the membership fees have been increased by 25% or more!  It's another management "bail out".  And we, the membership, are the ones who have to pay.

How did the LCS get into this mess?  We had 2 accountants on the payroll.  Why does it take our board months to notice a problem and months more to implement action?  We need to hear from the Lake Chapala Society Board and we need to hear soon before the situation may become worse.

The Guadalajara Reporter would be an excellent venue for a serious review of the LCS problems.

David Moss