A whole is the sum of it's parts, and a group is only as strong as it's weakest member. You probably know that there are a lot of occasions where these phrases ring true, and a community association board is one of them. Each member is important to the success of the entire board, and they all have different roles.
With the help of our friends over at CAI, we've summarized the roles of the president, secretary and treasurer for you below.
President: It's important for the president to understand not only the roles and responsibilities of his or her position, but also effective leadership and management.
- Associations are both communities and businesses, so the president should enhance the lifestyle of residents and protect the value of the asset.
- It's important that the president work closely with the bo
ard, manager and residents to form overall association goals.
- The president must be knowledgeable of all governing documents and ensure that the association operates correctly.
- As the president is responsible for the financial well being of the association, he/she must direct the budget process, collect assessments, ensure reserves are adequately funded and that insurance coverage is sufficient.
- Presidents preside at board meetings, prepare meeting agendas and ensure that valid voting procedures are used.
- The president identifies and trains potential leaders.
- In order to ensure successful operation of the association, the president should work closely with professional managers and other association professionals.
- The president must be an effective communicator, as he/she is a spokesperson for the community.
Secretary: Like any other business, an association must preserve its history, maintain records and protect itself from liability, and it's the secretary's job to do these duties.
- Treasurer: Healthy finances are essential to the smooth operation of an association, and the treasurer is the custodian of the funds and financial records.Prepare and distribute meeting notices.
- Record meeting minutes and resolutions.
- Affix the corporate seal to legal documents and witness and verify signatures on documents.
- Accept and verify process for annual or special membership meetings.
- Maintain all the records.
- File necessary forms with state agencies.
- The financial voice of the board and community.
- As the board's liaison to the auditor, the treasurer should monitor annual audit progress and make sure that appropriate tax returns are filed on time.
- Implement a reserve program based on an engineering study and make sure it has adequate funding.
- Ensure the implementation of an annual operating budget.
- Implement safeguards to protect association assets.
- Oversee insurance, financial record maintenance, fund investment, collection of assessments and delinquent accounts, and calculation and funding of reserves.
All the roles of a community association board are important, and it's essential that each person knows what their responsibilities are so that everything runs smoothly. To be effective, an association board needs to understand its roles and purposes and have a clear mission. Whether the board is made up of volunteers or professionals, each member has to work together to make sure the entire board works efficiently towards its purpose of maintaining the community.