- COMMUNITY SPECIFIC PLANNING
- SOUND FINANCIAL OVERSIGHT
- EFFECTIVE OPERATIONAL GOVERNANCE
- MEANINGFUL COMMUNICATION
- STAFFING and LIAISON WITH THE MANAGING AGENT
VIABLE ALLOCATION OF RESPONSIBILITIES
While your governing documents normally give you the right to hire a Managing Agent, there are some aspects of Association stewardship which are the exclusive purview of the Board, and cannot be transferred to the Agent. A truly successful collaboration is based on a clear understanding of both the Board’s and the Managing Agent’s roles, and a workable allocation of the responsibilities each must perform. No matter what service mix best fits your Association’s needs, a successful collaboration requires that each member of the Board accept the fiduciary obligations inherent in being elected to serve the membership, and, once elected, to work in concert with one another to accomplish the highest level of performance possible.
OBLIGATIONS INHERENT IN BOARD SERVICE
Election to your Association’s Board of Directors is substantially more than a popularity contest. It is a serious obligation to oversee the affairs of the Association. No matter what function you perform or office you hold, your election to the Board carries with it the affirmative obligation to make every effort to properly fulfill the fiduciary duties entrusted to the Board in the governing documents.
DUTIES OF ALL BOARD MEMBERS
Read, understand, and agree to perform the obligations you accepted in running for the Board, including any all Declarations, Articles of Incorporation, By-laws, existing Rules and Regulations, and any addenda or amendments added subsequently.
Understand the role of the Board and its relationship to the Membership, acknowledging the fiduciary responsibilities of the Board, and the general oversight rights of the electorate.
Commit the time and effort needed to fulfill the obligations of a Director, including the time and effort needed to research issues thoroughly, prepare for and attend meetings, and communicate with the membership that elected you.
Treat all members of the Association equally and fairly, avoiding favoritism, conflicts of interest, and disruptive or derisive behaviors.
Exercise your best judgment, cooperatively and decisively, remembering that in the absence of objection or question, acceptance is presumed.
Annually update the mission statement based on the surveyed needs of the membership, and set clearly articulated goals to accomplish the mission.
Advance the goals of the entire organization, prioritizing the needs of the assertive complainer equally with the needs of the reticent unspoken.
MAKING THE WORK COMFORTABLE, PRODUCTIVE, AND NON-ACTIONABLE
Adopt reasonable, thorough and productive procedures for decision-making, and conflict resolution, to protect the time of the volunteer directors, and avoid charges of malfeasance or misfeasance.
Evaluate past experience against your current responsibilities, and seek the training needed to improve skills to the level needed to appropriately fulfill the role you have undertaken.
Avoid personality-based policy making by adopting and maintaining written policies, codifying each decision for the benefit of future Boards.
Develop and exercise the skills needed to run productive meetings, make well-reasoned decisions, and conduct fair adjudications of issues or disputes.
Accept responsibility for the meaningful review of financial reports, utilizing professionally accepted standards of practice.
Actively track, and prudently direct the investment of Replacement Reserves, assuring limited risk and maximum long-term gain.
Adopt a proactive mindset, and employ strategic reviews, so that the information needed for productive decision-making is available when the need arises.
Reach consensus with fellow Directors who have divergent view points, avoiding personal agendas, favoritism, infighting and self-serving actions.
Establish and maintain the committees and procedures needed to implement the agreed upon enforcement of Association Rules and Covenants.
Develop leadership continuity, assigning committee appointments based on skill level and willingness to serve.
Accept the professional counsel of attorneys, auditors, consultants, engineers, and managers, whose education and expertise are designed to protect or enhance your stewardship of the Association.