The auditor presents his report first. That is because he is paid by the hour and the sooner he presents his report, answers all questions put to him and leaves, the less it costs the corporation.
The President's Report should give the owners an overview of the corporation. He should report on the maintenance of the building, any important projects that are underway or being planned and on the performance of the different contractors that work on the property.
The treasurer is in charge of your treasure and should explain how well the actual expenses are doing against the budget and the Reserve Fund balance compared to what amount the Reserve Fund Study calls for. (However, this is rarely done.)
Any changes to the declaration or by-laws needs to be discussed and voted upon. The owners should vote on any costly improvements to the property that is planned but, unfortunately, they do not always get that opportunity.
Then there are the elections for the open positions on the board of directors. Usually, all the candidates get a couple of minutes to make a campaign speech and sometimes the owners get the opportunity to ask the candidates questions but most often they do not.
This is when the owners get the chance to give their ideas, state what issues are important to them, raise problems and complain about all kinds of items, both big and small.
It is important for you to listen to the other
owners' concerns and problems. You may find that others have the same
issues that you do.
top contents chapter previous next