The Financial Statements have one primary function: Provide the Board with the financial information to make decisions relating to the Association’s financial situation The association’s financial statements are the summary of the financial activity of the association during a given period of time. Financial statements are the final product of the accounting function. There are…
It seems these days everyone’s schedules are more hectic than ever, and board members schedules are no different. Because of scheduling difficulty and, in some cases, convenience, we have boards of directors that hold their board meetings via online services such as Skype, GoToMeeting, and Google Plus Hangouts. With these online services, board members have…
Certain terms are used incorrectly or generically when discussing association issues. For example, the CC&Rs are often incorrectly referred to as the bylaws or the membership believes they are voting for the officers of the board of directors during an annual meeting. Articles of Incorporation: Are the basic charter of an association corporation which spells…