WHAT IS THE PURPOSE OF A BOARD OF DIRECTORS AND WHAT DO THEY DO?
The Board of Directors is the governing body of your homeowners association and is elected annually by members of the association. They have three broad areas of responsibility: financial management, day-to-day operation, and the administration of the community governing documents. Some of the main duties they are empowered to do may include, but are not limited to:
- Prepare the annual budget
- Collect routine assessments
- Establish rules and regulations for the association
- Contract for services to maintain the association including management, ground maintenance, building maintenance, etc.
- Use and disburse association funds
- Establish committees
- Enforce the governing documents including rules and regulations
- Elect officers for the association
- Ensure the association has adequate insurance
- Invest in your reserves for future capital improvements
- Establish an architectural review committee