Every board member plays an important role. The secretary is no exception and is much more than just “note taker”. They are critical to the Association’s success. At a minimum, there are five areas for which the secretary should be responsible.
Giving proper notice – the secretary is responsible for giving proper notice of the board meetings and the member meetings according with the requirements of the governing documents. This means giving the required minimum number of days notice and ensuring that the notice includes all the necessary information. Not just the who, where, and when – but perhaps most importantly the “what”. A good meeting notice will clearly explain to the community what items are being discussed at a particular meeting and their relevance to the homeowner.
Agenda development – the secretary coordinates with the association president to put together the meeting agenda’s content. The secretary should conference with the president prior to finalizing the agenda to identify the agenda items and the time needed for each item. The secretary can provide an additional service to the president by also serving as the time keeper for the meeting. Agenda’s should be distributed prior to the board meeting allowing the board members ample time to review and prepare for discussion. Your governing documents will likely state how many days in advance the agenda must be distributed prior to the board meeting.
Meeting minutes – when you think “secretary” most people think “meeting minutes”. There is a definite skill involved in writing good meeting minutes. They should capture who was at the meeting and the specific decisions that were made. Far too often the association secretary includes too much detail in the minutes – this can come back to haunt you later. To learn more about taking great minutes read: HOA Minutes.
Record keeping – the association’s records must be kept somewhere and they are stored under the supervision of the secretary. Boxes of old records don’t have to be housed in the home of the secretary, in fact it is preferable to keep them in a more public location if possible – but they should be accessible. Association records must be made available for inspection by homeowners upon request. I don’t know about you, but I don’t want people coming into my home to view boxes of records. For this reason, the association may wish to consider investing resources in scanning old paper files into electronic documents; making it much easier to provide records to the homeowners to request them.
Community communication – The old adage “no news is good news” simply does not hold true for homeowners associations. Whether it is a website, newsletter or some other method of communication – keeping the community apprised of happenings is very important. Determining the best communication tool will depend on your community’s demographics. If the association does not keep the community up to date on how assessments are being spent (improvements, repairs, etc.), owners will begin to assume that the association is doing nothing at all. Let them know what the association is doing on their behalf!
With over 40 years of combined industry experience, the Executive Staff of Riverside Property Management knows that the most successful communities are those where there is a sense of unity and pride among the membership.
Call 678-866-1436 Today for a free quote in the Atlanta, GA. area.
# # #
With over 40 years of combined industry experience, the Executive Staff of Riverside Property Management knows that the most successful communities are those where there is a sense of unity and pride among the membership; this unity and pride begins with a firm foundation comprised of:
Well defined policies and objectives
A strategic plan and future vision
A proactive Management team
Mutual team trust and respect
Timely and open communication
Excellent customer service
Industry knowledge
“Out of the Box” Thinking
Services designed to meet your needs
Give us fifteen minutes of your time and we can show you how to put your community on a fast track to success; if you don’t believe us, feel free to call upon any one of our satisfied clients.
Call (678) 866-1436 TODAY!
http://www.riversidepropertymgt.com
Tags: Alpharetta, annual meetings, Atlanta, Board of directors, Cobb County Georgia, Community association, Condominium, Executive Staff of Riverside Property Management, HOA Management, Homeowner association, Kennesaw Georgia, Marietta Georgia, Minutes, Mutual, Press release, Property Management, Secretary, Tertiary sector of the economy, Vinings, woodstock
A nonprofit Board of Directors is responsible for many things in its organization. The Board oversees the operation, provides guidance, and develops policy. A good Board makes for a good organization. So who monitors the Board to make sure it’s as good as it can be?
It’s up to the Board itself to evaluate its own activities. An annual self-assessment is a great way to do that.
A good self-assessment is comprehensive and covers all areas of Board responsibility
It helps determine the Board’s effectiveness and level of functioning. It also provides
- A structured time for reflection.
- An opportunity to assess individual and group weaknesses and strengths.
- A springboard for Board member recruitment in the coming year.
- A way to identify any training that might be needed for the Board.
There are lots of tools out there that can be used to assess Board performance including surveys and questionnaires.
Related Coverage
Recruiting good Board members for small
nonprofit organizations isn’t always easy, but it can be done. Here are some good ideas to make it a little easier.
Fundraising in a soft economy offers unique challenges to nonprofit organizations. The bad news is that you will find many doors that were historically open to you suddenly closed. The good news is that the most effective fundraisers are still able to raise significant funds.
Your Board is the leadership of your nonprofit organization. Not only do they set policy and plan for the organization’s future, they are expected to set the stage for
fundraising by making their own
gifts to the organization. This means that each one of your Board members must make a financial gift to the organization. And it should come from their own
checking account. Getting a gift from their company is great and welcome, but it’s not the same as giving from their own resources.
Every nonprofit organization has more needs than they have resources to fill. A Wish List is a great tool for giving donors, volunteers, and prospects ideas about how they can help you. Typically, some items on a
wish list can be fulfilled with a monetary gift, but most are usually items that are needed.
It doesn’t matter so much which tool is used as long as one is used.Giving the Board a chance to evaluate its own effectiveness is a step toward best practice in governance. It can contribute to the overall teamwork of the group and satisfaction of individual members. It points out areas where improvement is needed and sets a course of action for the coming year.
Having a policy in place that requires the Board to evaluate itself each year is a great way to make sure that it happens.
The organization will only be as good as its Board, so make the Board the best it can be through annual self-assessment!
Tags: Alpharetta, Atlanta, Best practice, Board of directors, Buckhead, Cobb County Georgia, Condominium, Consulting, Economy, Fundraising, Homeowner association, Internal Revenue Service, Kennesaw Georgia, Marietta Georgia, Non-profit organization, Nonprofit organization, Nonprofit Resources, Organization, Property Management, Riverside Property Management, Small business, United States, Vinings, woodstock
A nonprofit Board of Directors is responsible for many things in its organization. The Board oversees the operation, provides guidance, and develops policy. A good Board makes for a good organization. So who monitors the Board to make sure it’s as good as it can be?
It’s up to the Board itself to evaluate its own activities. An annual self-assessment is a great way to do that.
A good self-assessment is comprehensive and covers all areas of Board responsibility
It helps determine the Board’s effectiveness and level of functioning. It also provides
- A structured time for reflection.
- An opportunity to assess individual and group weaknesses and strengths.
- A springboard for Board member recruitment in the coming year.
- A way to identify any training that might be needed for the Board.
There are lots of tools out there that can be used to assess Board performance including surveys and questionnaires.
Related Coverage
Recruiting good Board members for small
nonprofit organizations isn’t always easy, but it can be done. Here are some good ideas to make it a little easier.
Fundraising in a soft economy offers unique challenges to nonprofit organizations. The bad news is that you will find many doors that were historically open to you suddenly closed. The good news is that the most effective fundraisers are still able to raise significant funds.
Your Board is the leadership of your nonprofit organization. Not only do they set policy and plan for the organization’s future, they are expected to set the stage for
fundraising by making their own
gifts to the organization. This means that each one of your Board members must make a financial gift to the organization. And it should come from their own
checking account. Getting a gift from their company is great and welcome, but it’s not the same as giving from their own resources.
Every nonprofit organization has more needs than they have resources to fill. A Wish List is a great tool for giving donors, volunteers, and prospects ideas about how they can help you. Typically, some items on a
wish list can be fulfilled with a monetary gift, but most are usually items that are needed.
It doesn’t matter so much which tool is used as long as one is used.Giving the Board a chance to evaluate its own effectiveness is a step toward best practice in governance. It can contribute to the overall teamwork of the group and satisfaction of individual members. It points out areas where improvement is needed and sets a course of action for the coming year.
Having a policy in place that requires the Board to evaluate itself each year is a great way to make sure that it happens.
The organization will only be as good as its Board, so make the Board the best it can be through annual self-assessment!
Tags: Alpharetta, Atlanta, Best practice, Board of directors, Buckhead, Cobb County Georgia, Condominium, Consulting, Economy, Fundraising, Homeowner association, Internal Revenue Service, Kennesaw Georgia, Marietta Georgia, Non-profit organization, Nonprofit organization, Nonprofit Resources, Organization, Property Management, Riverside Property Management, Small business, United States, Vinings, woodstock
Appoint Your 2014 Budget Committee Now
Atlanta, Georgia–With the first quarter quickly approaching, it’s “drop-dead” time for budget planning for Atlanta business community associations and homeowners associations. A tip to help with the process is to utilize a properly run budget committee. The budget committee is comprised of members of the community association, which enables residents to have a say in how their money is spent. How does the budget committee work and who serves on it?
The Treasurer’s and Accountant’s Roles
It makes sense for the board treasurer of your Atlanta community association to chair the budget committee. As chair, it’s the treasurer’s job to keep everyone on track as the budget is prepared. The treasurer also presents the budget for approval to the board and members. If your community association works with an accountant, he or she may offer consulting, but the accountant really has no significant role in the process of devising the budget.
Who Should Be on the Association’s Budget Committee?
The owners who serve on the budget committee should represent a cross-section of your Atlanta community association. Of course, if there are members willing to serve who have expertise in areas such as insurance, landscaping, contracting, that’s even better. When it comes to size, a good general guideline is that the committee shouldn’t be so large that it becomes unwieldy.
What the Budget Committee Does
The treasurer of your Atlanta community association should make sure that all committee members understand the three basic components of the budget:
1. Non-Discretionary Operating Expenses. Funds needed for daily operation of your Atlanta community association, such as common area electricity and water, landscaping maintenance, Atlanta association management, insurance, and general maintenance. These expenses are either contractual or can be reasonably estimated based on experience. One important consideration when looking at items in the operating budget is the level of service sought by your Atlanta community association. Do owners want a landscaper who is on site three times a week or once a week? Do your Atlanta association homeowners want a landscaper who is a “blow, mow, and go” type, or do they want a landscaper who provides a higher level of service? Do your Atlanta homeowners association members want a lifeguard present at your association pool for twelve hours everyday or want to allow owners to swim at their own risk? These decisions will significantly impact the your Atlanta community association’s operating expenses.
2. Future Reserves. Funds needed to maintain your Atlanta community association’s reserves at sufficient levels are essential for preserving the value of Atlanta condominium and homeowners associations. Reserve funds provide money for the repair and replacement of the community’s assets—such as the pool, roofs, pavement, etc. and must be set aside in the budget to be able to meet future expenses as they become due.
3. Discretionary Expenses. Funds for additions or enhancements to the existing property. This is a function of what members of your Atlanta community association wants and is willing to pay for. The community should provide input and approval for this component. For example, you may want to erect a gazebo on the common grounds or install a new water slide at your community association pool. These expenses are discretionary and should be included in your Atlanta community association’s budget only if there is money left over to pay for them after payment of all non-discretionary expenses and reserve funding.
How to Crunch the Numbers
Armed with this knowledge, your Atlanta community association’s budget committee should be able to estimate total expenses for the coming year and compare that sum to your Atlanta community association’s potential revenue (assessments, interest on investments, swim and tennis team income, and so on). If expenses are greater than revenue, the budget committee needs to look for ways to lower expenses without compromising services. If that doesn’t balance the budget, the budget committee may have to make a tough decision—whether to increase assessments or levy a one-time special assessment.
Riverside Property Management is a Homeowners and Condominium Association management company management company proudly serving Roswell, Alpharetta, Buckhead, Marietta and all of North Georgia. Riverside is also an expert Georgia association management company and high rise Atlanta association management company. To find out more about Riverside Property Management and why it is one of Georgia’s fastest growing property management companies, go to www.riversidepropertymgt.com. You’ll be glad you did.
Riverside Property Management in Kennesaw works with homeowner and condo associations providing a variety of management, code enforcement, consulting and educational services, reserve studies, budgeting assistance and maintenance planning expertise.
Tags: Alpharetta, Association management, Atlanta, Board of directors, Budget, Cobb County Georgia, Community association, Condo, Condominium, Condominium Association, Georgia, HOA Management, Homeowner association, Insurance, Kennesaw Georgia, Marietta, Non-profit organization, Property Management, Riverside Property Management, roswell, smyrna, United States, Vinings, woodstock
Organization of community care is a huge business that many volunteers find difficult to work in their busy lives.
An Association Board is supposed to guarantee that the needs of the community are satisfied and properly manage a budget. Several functions of administration may be made available by a third-party provider regarding the daily functions of the board and is necessary in a neighborhood. Preservation, collection rates, facilities, key decisions, legal compliance and neighborhood improvement are functions of a Homeowners Association. Often, the obligations become excessive, so a property manager is a major tool for improving the community. A group of volunteers can always fight with all management tasks or the can make use of a specialists’ expertise in order to prevent residents risking their biggest investment.
Management companies provide a lot of potential ideas that an HOA can customize to meet their precise demands. The guidance given by the community management eliminates labor-intensive tasks.
Operations management strengthens simply by decreasing Board demand.
Community Managers are valuable in areas such as community covenant violations, issue resolutions of residents, service management, closing duties and home assessments. They examine the neighborhood often and collect ongoing assessments.
The Community Manager acts as an intermediary to resolve minor problems in an effort to alleviate burdens on the Board of Directors. In addition, a manager is normally given the task of acquiring all the individual communications bring major concerns to the awareness of the board. They have the ability to monitor the area regularly, solve problems, collect on delinquent accounts, and can handle all the additional activities.
An HOA can do these activities themselves, but, association management offerings provide more time for tasks connected to a partnership, while the fundamentals are handled reliably. The prosperity of these services often hinges on the manager because he or she is completing the duties required by the association. Property owners have control of the participants on the board, amendments, rule obedience, besides fulfilling their tax obligations in the area. In addition, volunteers are encouraged as part of the association and get involved with the neighborhood regularly. The board sets the guidelines, oversees the association, provides expenditure budgets, and also ensures the association complies with all state laws.
Management companies have their own basic functions beyond individual rights appointed by the Board. Standard responsibilities include performing on behalf of the Homeowners Association, imposing the payment of dues, collecting money, contract management, vendor relations, budget, along with record keeping. They also manage a number of other management activities and planning annual meetings. A board defines how actively involved management becomes. Community management services of the organization must be carefully outlined before recruitment is completed to make sure all expected responsibilities are adequately covered.
Call today and you will see “The Riverside Advantage”!
(678) 866-1436
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Tags: acworth, Alpharetta, annual meetings, Association Dues, Association management company, Atlanta, Board Advice, Board duties, Board President, Budget, Business and Economy, Cobb County Georgia, Condominium, Financial services, ga, Georgia, hoa, HOA Board, Homeowner association, Kennesaw Georgia, Marietta Georgia, Neighborhood association, Non-profit organization, Property Management, Riverside Property Management, running the annual meeting, Special Assessments, towne lake management, Vinings, Vocus, woodstock
A nonprofit Board of Directors is responsible for many things in its organization. The Board oversees the operation, provides guidance, and develops policy. A good Board makes for a good organization. So who monitors the Board to make sure it’s as good as it can be?
It’s up to the Board itself to evaluate its own activities. An annual self-assessment is a great way to do that.
A good self-assessment is comprehensive and covers all areas of Board responsibility
It helps determine the Board’s effectiveness and level of functioning. It also provides
- A structured time for reflection.
- An opportunity to assess individual and group weaknesses and strengths.
- A springboard for Board member recruitment in the coming year.
- A way to identify any training that might be needed for the Board.
There are lots of tools out there that can be used to assess Board performance including surveys and questionnaires.
Related Coverage
Recruiting good Board members for small
nonprofit organizations isn’t always easy, but it can be done. Here are some good ideas to make it a little easier.
Fundraising in a soft economy offers unique challenges to nonprofit organizations. The bad news is that you will find many doors that were historically open to you suddenly closed. The good news is that the most effective fundraisers are still able to raise significant funds.
Your Board is the leadership of your nonprofit organization. Not only do they set policy and plan for the organization’s future, they are expected to set the stage for fundraising by making their own gifts to the organization. This means that each one of your Board members must make a financial gift to the organization. And it should come from their own checking account. Getting a gift from their company is great and welcome, but it’s not the same as giving from their own resources.
Every nonprofit organization has more needs than they have resources to fill. A Wish List is a great tool for giving donors, volunteers, and prospects ideas about how they can help you. Typically, some items on a
wish list can be fulfilled with a monetary gift, but most are usually items that are needed.
It doesn’t matter so much which tool is used as long as one is used.Giving the Board a chance to evaluate its own effectiveness is a step toward best practice in governance. It can contribute to the overall teamwork of the group and satisfaction of individual members. It points out areas where improvement is needed and sets a course of action for the coming year.
Having a policy in place that requires the Board to evaluate itself each year is a great way to make sure that it happens.
The organization will only be as good as its Board, so make the Board the best it can be through annual self-assessment!
Riverside Property Management is a Homeowners and Condominium Association management company management company proudly serving Roswell, Alpharetta, Buckhead, Marietta and all of North Georgia. Riverside is also an expert Georgia association management company and high rise Atlanta association management company. To find out more about Riverside Property Management and why it is one of Georgia’s fastest growing property management companies, go to www.riversidepropertymgt.com. You’ll be glad you did.
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Tags: Alpharetta, Atlanta, Best practice, Board of directors, Buckhead, Budget, Cobb County Georgia, Community association, Condominium, Condominium Association, Economy, Fundraising, Georgia, Homeowner association, Internal Revenue Service, Kennesaw Georgia, Marietta, Marietta Georgia, Non-profit organization, Nonprofit organization, Nonprofit Resources, Organization, Property Management, Riverside Property Management, roswell, Small business, smyrna, United States, woodstock
Organization of community care is a huge business that many volunteers find difficult to work in their busy lives.
An Association Board is supposed to guarantee that the needs of the community are satisfied and properly manage a budget. Several functions of administration may be made available by a third-party provider regarding the daily functions of the board and is necessary in a neighborhood. Preservation, collection rates, facilities, key decisions, legal compliance and neighborhood improvement are functions of a Homeowners Association. Often, the obligations become excessive, so a property manager is a major tool for improving the community. A group of volunteers can always fight with all management tasks or the can make use of a specialists’ expertise in order to prevent residents risking their biggest investment.
Management companies provide a lot of potential ideas that an HOA can customize to meet their precise demands. The guidance given by the community management eliminates labor-intensive tasks.
Operations management strengthens simply by decreasing Board demand.
Community Managers are valuable in areas such as community covenant violations, issue resolutions of residents, service management, closing duties and home assessments. They examine the neighborhood often and collect ongoing assessments.
The Community Manager acts as an intermediary to resolve minor problems in an effort to alleviate burdens on the Board of Directors. In addition, a manager is normally given the task of acquiring all the individual communications bring major concerns to the awareness of the board. They have the ability to monitor the area regularly, solve problems, collect on delinquent accounts, and can handle all the additional activities.
An HOA can do these activities themselves, but, association management offerings provide more time for tasks connected to a partnership, while the fundamentals are handled reliably. The prosperity of these services often hinges on the manager because he or she is completing the duties required by the association. Property owners have control of the participants on the board, amendments, rule obedience, besides fulfilling their tax obligations in the area. In addition, volunteers are encouraged as part of the association and get involved with the neighborhood regularly. The board sets the guidelines, oversees the association, provides expenditure budgets, and also ensures the association complies with all state laws.
Management companies have their own basic functions beyond individual rights appointed by the Board. Standard responsibilities include performing on behalf of the Homeowners Association, imposing the payment of dues, collecting money, contract management, vendor relations, budget, along with record keeping. They also manage a number of other management activities and planning annual meetings. A board defines how actively involved management becomes. Community management services of the organization must be carefully outlined before recruitment is completed to make sure all expected responsibilities are adequately covered.
Call today and you will see “The Riverside Advantage”!
(678) 866-1436
0.000000
0.000000
Tags: acworth, Alpharetta, annual meetings, Association Dues, Association management company, Atlanta, Board Advice, Board duties, Board President, Budget, Business and Economy, Cobb County Georgia, Condominium, Financial services, ga, Georgia, hoa, HOA Board, Homeowner association, Kennesaw Georgia, Marietta Georgia, Neighborhood association, Non-profit organization, Property Management, Riverside Property Management, running the annual meeting, Special Assessments, towne lake management, Vinings, Vocus, woodstock
Organization of community care is a huge business that many volunteers find difficult to work in their busy lives.
An Association Board is supposed to guarantee that the needs of the community are satisfied and properly manage a budget. Several functions of administration may be made available by a third-party provider regarding the daily functions of the board and is necessary in a neighborhood. Preservation, collection rates, facilities, key decisions, legal compliance and neighborhood improvement are functions of a Homeowners Association. Often, the obligations become excessive, so a property manager is a major tool for improving the community. A group of volunteers can always fight with all management tasks or the can make use of a specialists’ expertise in order to prevent residents risking their biggest investment.
Management companies provide a lot of potential ideas that an HOA can customize to meet their precise demands. The guidance given by the community management eliminates labor-intensive tasks.
Operations management strengthens simply by decreasing Board demand.
Community Managers are valuable in areas such as community covenant violations, issue resolutions of residents, service management, closing duties and home assessments. They examine the neighborhood often and collect ongoing assessments.
The Community Manager acts as an intermediary to resolve minor problems in an effort to alleviate burdens on the Board of Directors. In addition, a manager is normally given the task of acquiring all the individual communications bring major concerns to the awareness of the board. They have the ability to monitor the area regularly, solve problems, collect on delinquent accounts, and can handle all the additional activities.
An HOA can do these activities themselves, but, association management offerings provide more time for tasks connected to a partnership, while the fundamentals are handled reliably. The prosperity of these services often hinges on the manager because he or she is completing the duties required by the association. Property owners have control of the participants on the board, amendments, rule obedience, besides fulfilling their tax obligations in the area. In addition, volunteers are encouraged as part of the association and get involved with the neighborhood regularly. The board sets the guidelines, oversees the association, provides expenditure budgets, and also ensures the association complies with all state laws.
Management companies have their own basic functions beyond individual rights appointed by the Board. Standard responsibilities include performing on behalf of the Homeowners Association, imposing the payment of dues, collecting money, contract management, vendor relations, budget, along with record keeping. They also manage a number of other management activities and planning annual meetings. A board defines how actively involved management becomes. Community management services of the organization must be carefully outlined before recruitment is completed to make sure all expected responsibilities are adequately covered.
Call today and you will see “The Riverside Advantage”!
(678) 866-1436
0.000000
0.000000
Tags: Alpharetta, annual meetings, Association Dues, Association management company, Atlanta, Board Advice, Board duties, Board President, Budget, Business and Economy, Cobb County Georgia, Condominium, Financial services, Georgia, hoa, HOA Board, Homeowner association, Kennesaw Georgia, Marietta Georgia, Neighborhood association, Non-profit organization, Property Management, Riverside Property Management, running the annual meeting, Special Assessments, Vinings, Vocus
Appoint Your 2013 Budget Committee Now
Atlanta, Georgia–With the first quarter quickly approaching, it’s “drop-dead” time for budget planning for Atlanta business community associations and homeowners associations. A tip to help with the process is to utilize a properly run budget committee. The budget committee is comprised of members of the community association, which enables residents to have a say in how their money is spent. How does the budget committee work and who serves on it?
The Treasurer’s and Accountant’s Roles
It makes sense for the board treasurer of your Atlanta community association to chair the budget committee. As chair, it’s the treasurer’s job to keep everyone on track as the budget is prepared. The treasurer also presents the budget for approval to the board and members. If your community association works with an accountant, he or she may offer consulting, but the accountant really has no significant role in the process of devising the budget.
Who Should Be on the Association’s Budget Committee?
The owners who serve on the budget committee should represent a cross-section of your Atlanta community association. Of course, if there are members willing to serve who have expertise in areas such as insurance, landscaping, contracting, that’s even better. When it comes to size, a good general guideline is that the committee shouldn’t be so large that it becomes unwieldy.
What the Budget Committee Does
The treasurer of your Atlanta community association should make sure that all committee members understand the three basic components of the budget:
1. Non-Discretionary Operating Expenses. Funds needed for daily operation of your Atlanta community association, such as common area electricity and water, landscaping maintenance, Atlanta association management, insurance, and general maintenance. These expenses are either contractual or can be reasonably estimated based on experience. One important consideration when looking at items in the operating budget is the level of service sought by your Atlanta community association. Do owners want a landscaper who is on site three times a week or once a week? Do your Atlanta association homeowners want a landscaper who is a “blow, mow, and go” type, or do they want a landscaper who provides a higher level of service? Do your Atlanta homeowners association members want a lifeguard present at your association pool for twelve hours everyday or want to allow owners to swim at their own risk? These decisions will significantly impact the your Atlanta community association’s operating expenses.
2. Future Reserves. Funds needed to maintain your Atlanta community association’s reserves at sufficient levels are essential for preserving the value of Atlanta condominium and homeowners associations. Reserve funds provide money for the repair and replacement of the community’s assets—such as the pool, roofs, pavement, etc. and must be set aside in the budget to be able to meet future expenses as they become due.
3. Discretionary Expenses. Funds for additions or enhancements to the existing property. This is a function of what members of your Atlanta community association wants and is willing to pay for. The community should provide input and approval for this component. For example, you may want to erect a gazebo on the common grounds or install a new water slide at your community association pool. These expenses are discretionary and should be included in your Atlanta community association’s budget only if there is money left over to pay for them after payment of all non-discretionary expenses and reserve funding.
How to Crunch the Numbers
Armed with this knowledge, your Atlanta community association’s budget committee should be able to estimate total expenses for the coming year and compare that sum to your Atlanta community association’s potential revenue (assessments, interest on investments, swim and tennis team income, and so on). If expenses are greater than revenue, the budget committee needs to look for ways to lower expenses without compromising services. If that doesn’t balance the budget, the budget committee may have to make a tough decision—whether to increase assessments or levy a one-time special assessment.
Riverside Property Management is a Homeowners and Condominium Association management company management company proudly serving Roswell, Alpharetta, Buckhead, Marietta and all of North Georgia. Riverside is also an expert Georgia association management company and high rise Atlanta association management company. To find out more about Riverside Property Management and why it is one of Georgia’s fastest growing property management companies, go to www.riversidepropertymgt.com. You’ll be glad you did.
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Tags: Alpharetta, Atlanta, Board of directors, Budget, Cobb County Georgia, Community association, Condominium, Condominium Association, Georgia, Homeowner association, Insurance, Marietta, Property Management, Riverside Property Management, roswell, smyrna, United States, Vinings, woodstock
Home Owners Associations (HOAs) bring peace and civility to shared communities. Condominium or single-family home complexes may create an HOA to determine how common areas will be maintained, for example. In Georgia, as in most states across the country, bylaws and a board of directors must be established before an HOA is official. Talk to neighbors within your development to garner support for the HOA and commence with an expeditious launch.
Instructions
1
Contact the Georgia General Assembly. Reach out to the offices of your House of Representatives and/or State Senator and ask for a copy of the Georgia Property Owners Association Act (GPOA). Review the GPOA to familiarize yourself with the rules and guidelines of the state for creating an HOA. Log online and visit the official Georgia General Assembly website to find the contact information for your respective representatives.
2
Form the physical HOA. Assemble residents of your community. Elect HOA leadership representatives including a president, vice-president, secretary, and treasurer. Establish any committees necessary to the function of your HOA — planning or policy committees, for example. Write the bylaws for the HOA. State how shared community areas will be overseen, who is affected by the rules and the amount members will pay for annual dues. File the Bylaws and Declaration of Covenants, Conditions, and Restrictions.
3
Reach out to the Internal Revenue Service (IRS). Ask an IRS representative for all necessary 501(c)(4) tax documentation for creating an HOA. Filing for 501(c)(4) status makes the HOA an official non-profit organization. Submit all necessary forms and supplemental documentation (a copy of the bylaws, for example) required by the IRS. Consult IRS agents and the 501(c) (4) forms for instructions.
From Riverside Property Management, Inc.
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Tags: Alpharetta, Atlanta, Board Advice, Board duties, Board of directors, Cobb County Georgia, Condominium, Georgia, Georgia General Assembly, HOA Management, Homeowner association, Internal Revenue Service, Kennesaw Georgia, Law, Marietta Georgia, Riverside Property Management, United States House of Representatives, Vinings
Riverside Professional Association Management 