HOA - La Cresta - Brief Overview -
Reserve funds are used for large projects such as replacements or
repairs within the homeowners association. The funds usually have strict
criteria for how they are to be used. The criteria is based on the HOA
community rules and regulations, bylaws and accountability. Some
examples of reserve fund use are:
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Roof replacement on common area buildings such as clubhouses and condominiums
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Repairs on community pools and spas such as new pool pumps, pool heaters, pool deck repairs or refinishing etc.
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Playground equipment, clubhouse, neighborhood parks, tennis courts
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Replacing fencing in HOA controlled areas
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Painting of community association buildings
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Major landscape projects
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Construction and major renovations such as sidewalk projects and private roads
This is just a brief look at a few examples of major projects that the
reserve fund may be used for. Community-wide there may be hundreds of
items the HOA board is responsible for, so check your governing
documents. To get a copy of the governing documents for please contact
the board members or property manager listed below.
Offices of the Board of Directors and their Duties
The officers of the board of directors are generally president, vice-president, secretary, treasurer and member at large.
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President - The president of the Board presides at all meetings of the
Board of Directors. The president is ultimately responsible to see that
orders and resolutions of the Board of Directors are carried out. The
president generally signs all contracts and other written instruments
and co-signs all checks and promissory notes.
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Vice-President - The vice-president acts in the place and stead of the
president in the event of his absence and exercises other duties as may
be required of him by the Board.
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Secretary - The secretary record the votes and keeps the minutes of all
meetings and proceedings of the Board and of the Members. The secretary
also signs all contracts and other instruments executed in the name of
or on behalf of the association. The secretary is keeper of the
corporate seal of the Association and affix it on all papers requiring
the seal. The secretary also serves or causes to be served, notice of
meetings of the Board and of the Members; keeps appropriate current
records showing the Members of the Association together with their
address, and performs other duties as required by the Board.
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Treasurer - The treasurer receives and deposits in appropriate bank
accounts all monies of the Association and disburses such funds as
directed by resolution of the Board of Directors. The treasurer signs
all checks of the association; is keeper of the books of account; cause
an annual audit of the Association books to be made by a public
accountant at the completion of each fiscal year; and prepares an annual
budget and a statement of income and expenditures to be presented to
the membership in compliance with the civil code, and delivers a copy of
each to the Members.
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Member at Large - The member at large is the fifth member of the Board
of Directors and is a voting member of the board. The member at large
fulfills duties as assigned by the President or by the board.
Being a volunteer member of an HOA board of directors does come with
duties and responsibilities. The associations C.C.and R.'s (covenants,
conditions and restrictions) and Bylaws set forth the general powers and
duties of the Board and the specific limitations upon the Board's
powers. The Board of Directors of an HOA generally have the power to
adopt and publish "Rules and Regulations" to protect the interests of
the homeowners. Each individual board position comes with certain duties
and responsibilities. Read more about joining your HOA board of
directors
Being a volunteer member of an HOA board of directors does come with
duties and responsibilities. The associations C.C.and R.'s (covenants,
conditions and restrictions) and Bylaws set forth the general powers and
duties of the Board and the specific limitations upon the Board's
powers. The Board of Directors of an HOA generally have the power to
adopt and publish "Rules and Regulations" to protect the interests of
the homeowners. Each individual board position comes with certain duties
and responsibilities.
Please reach out to the Board or the property Management for more info on how to become a Board Member - PHOAC -
P: 619.229.0044 - |
www.phoac.com
