HOA Annual Board Meetings
Annual Meetings for homeowners associations are a crucial component for keeping the business of the association moving forward. In addition to holding the annual HOA Board elections, where new members are elected to the Board of Directors by their fellow homeowners, Annual Meetings also serve to update the homeowners on what is happening in the community. This is a meeting of the members and not a typical Board meeting where the Board of Directors are making decisions for the community.
The timing of your community’s Annual Meeting depends on the requirements indicated by your Association’s Bylaws. The meeting is typically held at the same time each year. To achieve the best results, planning the Annual Meeting should begin several months before the meeting date. Some communities require that a nominating committee be formed to select candidates for the Board. Securing a meeting location is also imperative, and it is important to book the venue early as some of the places that do not charge for meeting space may be booked months in advance.
Below are some helpful planning tips:
- Confirm available dates with Board of Directors
- Schedule location of the meeting
- Obtain Certificate of Insurance, if necessary (Most meeting venues require this which would include the venue being named as additional insured for liability purposes)
- Prepare meeting notice signed by Board secretary, if required by governing documents
- Send out a questionnaire to members to help prepare for questions in advance of the meeting
- Mail HOA Annual Meeting Notice within the timeframe noted in CC&Rs and/or Bylaws
- Be prepared for the meeting with the following items: sign-in sheets, delinquency reports and ledger cards, election ballots, quorum requirement for the meeting, financial statements, meeting agenda and any handouts
The following are items to complete after the Annual Meeting:
- Work with the Community Manager to compile the list of Board members, including the newly elected members. Make sure that the terms that the new Board Members have filled are carefully tracked in communities that provide for staggered terms.
- Schedule the first Board of Directors meeting post-election/Annual Meeting. This is typically the meeting at which the Board Members will determine officers of the association.
- Prepare Annual Meeting minutes.
- Update the bank accounts to remove previous Board members and add new Board Members.
Still have more questions regarding the HOA Board Meeting protocol? Contact AAM today to discuss the needs of your HOA.