12-08-2014, 10:55 AM
First, an apology for being slow on the uptake. I just noticed the following on the agenda for the upcoming Board meeting:
VIII. Old Business:
2. Only owners in good standing to receive financial reports
Does anyone know the justification for the Board's decision to break the Bylaws again?
According to the Bylaws:
ARTICLE VIII – BOARD OF DIRECTORS, Section 8. Powers and Authority.
(m) Review and approve an annual budget and Capital Improvement Plan and ensure an annual report reflecting the Association's financial status (unaudited) and the Capital Improvement Plan is mailed to the membership and posted on the Association website within 60 days after fiscal year end.
(s) Cause an independent certified public accountant, which may be an individual, firm, partnership, or corporation, to conduct a mandatory annual audit of the financial records of the Association. Copies of the audit shall be available to members upon request.
To prevent a debate on whether those two references could be stretched to limit the access from "member" to "member in good standing", there are ten specific references to the latter in the Bylaws. If the Bylaws had intended a restriction on access to financial reports, it would have stipulated such. In fact, it states that the annual financial report shall be posted on the website!
VIII. Old Business:
2. Only owners in good standing to receive financial reports
Does anyone know the justification for the Board's decision to break the Bylaws again?
According to the Bylaws:
ARTICLE VIII – BOARD OF DIRECTORS, Section 8. Powers and Authority.
(m) Review and approve an annual budget and Capital Improvement Plan and ensure an annual report reflecting the Association's financial status (unaudited) and the Capital Improvement Plan is mailed to the membership and posted on the Association website within 60 days after fiscal year end.
(s) Cause an independent certified public accountant, which may be an individual, firm, partnership, or corporation, to conduct a mandatory annual audit of the financial records of the Association. Copies of the audit shall be available to members upon request.
To prevent a debate on whether those two references could be stretched to limit the access from "member" to "member in good standing", there are ten specific references to the latter in the Bylaws. If the Bylaws had intended a restriction on access to financial reports, it would have stipulated such. In fact, it states that the annual financial report shall be posted on the website!