Hello,
If you are interested in running for the HOA Board of Directors good news! There are 3 open position every year; application open every AUGUST.
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Apply Here:
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Questions To:
NOMINATION@LANDSDOWNE.ORG
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What is the Board of Directors and what do they do?
This is to clearly outline the expectations, duties, roles, and responsibilities of the listed board positions. This is to assist current and potential future board members in making an informed decision; and to determine their future contributions in fulfilling one of the positions.
Expectations, to the best of your ability, contribute, on average, 1+ hours per week; and 6+ hours per month of your time. Check and respond to emails and/or messages from other Board Members, Board Officers, or the Management Company; several times a week. Attend all related monthly, special, committee, or other related meetings. Ensure all duties, roles, and responsibilities (based on our founding documents) listed below are completed.
Fiduciary Duty: A fiduciary duty is a legal responsibility to act in good faith on behalf of a person or group that relies on you. A board member’s fiduciary responsibility is to help the association succeed while adhering to the governing documents. To act for the benefit of the whole, not for any specific smaller group or individual; to preserve the community's well-being and maintain its quality, thereby protecting its overall value.
Strategic Planning: Create/approve all policies, procedures, etc. Contribute to developing the association's long-term goals, strategies, and vision for the community.
Financial Items: Exercise the best judgment in maintaining the community. Ensure responsible financial practices. Review, update, approve, and manage the association’s budget. Review, set, and authorize the collection of homeowner assessments and dues (by the Management Company). Maintain a reserve fund for unexpected expenses and capital projects.
Community Enhancement: Develop and implement initiatives to enhance the overall quality of life and property values within the community.
Membership Engagement: Promote community involvement and engage homeowners to participate in the decision-making process.
Special Committees: Form committees or workgroups to address specific community issues or projects. Delegate responsibilities and oversee their activities.
Expectations, to the best of your ability, would be to contribute a minimum of 1+ hours per week; 6+ hours per month of your time. Officers must at all times act in the best interests of the association and carry out their duties with prudence, honesty, good faith, and fairness. Ensure all duties, roles, and responsibilities (based on our founding documents) listed below are completed. Note: This is in addition to the above expectations of being a board member.
President: Works closely with the leadership team (Officers and Management Company) to monitor progress, foster collaboration, and ensure the organization stays on track.
Directive Oversight: Ensure that all directives and guidance given by the board are carried out and implemented by the Management Company.
Board Meetings: Shall facilitate board meetings to ensure processes are followed, order is maintained, and fair and equal discussions are allowed. The President compiles the agenda from input by the Management Company, Officers, and Board Members.
Legal and Contractual Matters: Ensure compliance with legal and contractual requirements.
Documents: Sign all association documents.
Vice President: Works closely with the leadership team (Officers and Management Company) to monitor progress, foster collaboration, and ensure the organization stays on track.
Membership Feedback: Work with the Management Company to gather and relay homeowner feedback and concerns to the board; facilitate open dialogue between the board.
Backup to the President: The Vice President should be prepared to assume the role of President in their absence or when the President is unable to fulfill their duties.
Secretary: Works closely with the leadership team (Officers and Management Company) to monitor progress, foster collaboration, and ensure the organization stays on track.
Meeting Minutes: Record and maintain accurate minutes of all board meetings and, in some cases, general membership meetings. Document discussions, decisions, actions taken, and any voting results.
Record-Keeping: Maintain and organize official records, which typically include: governing documents; bylaws; Covenants, Conditions, and Restrictions (CC&Rs); rules and regulations; contracts; and correspondence. Ensure that records are kept in a secure and accessible manner.
Document Review and Updates: Review and, if necessary, recommend updates to the association's governing documents, bylaws, policies, and rules. Maintain a record of revisions and amendments.
Assist with Elections: Provide oversight on the election process by assisting the Nominations Committee; nominations and ballot process; and with certification and document of election results.
Treasurer: Works closely with the leadership team (Officers and Management Company) to monitor progress, foster collaboration, and ensure the organization stays on track.
Financial Oversight: Participate in financial decision-making, and ensure that finances are well-managed. The Management Company often works closely with the Treasurer in this regard.
Budget Development: Work with the Management Company to create an annual budget that takes into account the association's needs and goals. Present the budget for approval by the board and, if required, the membership.
Reserve Fund Management: Manage the reserve fund, ensuring it is adequately funded to cover anticipated capital expenses and long-term maintenance.
Financial Reporting: Provide regular financial updates to the board and homeowners during meetings. Ensure that financial reports are clear, accurate, and easily understandable for all members.
Banking and Account Management: Provide oversight on bank accounts, including checking and savings accounts. In assistance to the Management Company, where applicable: sign checks, manage deposits, and authorize financial transactions on behalf of the association.
Audit and Tax Compliance: Provides oversight on financial audits or reviews, if required, and ensures compliance with tax regulations. Work with external auditors or accountants as necessary.
Investment Management: Works with the investment manager/consultant (Meryll Lynch) on association investments; assesses opportunities for optimizing the association's financial assets while considering safety and liquidity; presents investment plans to the board for approval.
There are no additional duties, responsibilities, or expectations for Members-at-Large. Members-at-Large are not authorized to, nor do they have the authority to, act on association business between board meetings; unless empowered by the board for specific tasks.
