What are the Duties for the Board of Directors?
Who are the Board of Directors?
Your Board of Directors are regular homeowners just like you that have volunteered to become more involved in the day-to-day function of their local neighborhood by running for elective office.
What are their obligations?
The primary obligation of the Board is to ensure that the community is abiding by the governing documents of the community along with complying with all relevant federal, state, and local laws. The Board alongside management is committed to protecting the property values of the members of an association and enforce CC&R’s.
How Long Does the HOA Board of Directors Stay In Office?
Terms most often range from 1 to 3 years. There are Annual Meetings each year to elect your officers on the Board.
HOA Board of Directors: The Role They Play.
· Vice President
Budgets, Assessments, and Accounting.
The Board and Management put an annual budget together each year and deliver it to the membership. The budget shows all the expenses the Association anticipates having over the course of the year. Owners are also able to see what their monthly assessment will be. This is the amount each owner pays each month to their homeowner’s association. This is often called the HOA fee. Alliance Association Management puts monthly financials together with the help of a certified professional accountant. These reports are able to be reviewed by the Board and Membership for full transparency.