The Association
Our Association is governed by a eight
member Board of Directors elected to office by the members
of the community. Elections are held annually with each
Director serving a two year term. The Board
of Directors is composed of a President,
a Vice-President,
a Secretary,
a Sub-Secretary,
a Tresurer,
and 3 Vocals.
Board members are ultimately responsible
for the operation and management of the association.
The associations has duty
to enforce provisions in the operative documents.
Associations operate similar to large
publicly held corporations regardless of their size.
The members (stockholders) elect a Board of Directors
to run the association (corporation). The Board in turn
holds meetings and set policy on how the association
(corporation) will operate. It also hires management
(staff) to carry out the day to day duties of the association
(corporation) such as managers, accountants, maintenance
personnel and contractors. The manager, accountant,
maintenance personnel or contractors can not just do
anything they want. They receive their authority and
directives from the Board.
As in a publicly held corporation the
stockholders (members) hold the Board of Directors responsible
for the operation of the corporation (association).
The Board is the ultimate responsible party for actions
taken by the managing agent of the association. The
Board has a fiduciary responsibility to its members
and must oversee the actions of the manager. Failure
of the Board to take action for non-action by the managing
agent carries the same fiduciary responsibility as taking
a wrong action.
In order for management to act, the
Board establishes :
- Rules and Regulations
- Architectural and Design Guidelines
- Collection Procedures
- Meeting Procedures (Annual, Board and Special Meetings)
- Employee Responsibilities
- Annual Budget and Assessment Payments
- Establishes Management Duties
Once the Board establishes the guidelines
and procedures, management takes over the day to day
duties according to such guidelines and procedures.
The Board monitors the overall operation of the association
on a month to month basis. It must be attuned to the
needs of the members and make sure all members are treated
equally and fairly. It must monitor the income and expenses
with the goal to protect the assets of the association.
However, the Board must let management do it's job and
not interfere with the daily operation of the association
and the managing agents duties. The Board must also
stand behind management in conflicts with members as
long as management has followed the Board's guidelines
and procedures. Its a team effort between the Board
and management.
|