Tag Archives: Non-profit organization

Creating A Board for Your HOA or Condominium Association in Cobb County


WHO SHOULD BE ON THE BOARD?
The board should be composed of a diverse group of individuals who are interested in working toward the organization’s mission and have the particular skills that will help to contribute to a well-run organization. For instance, you may want to seek out people with financial, marketing, or legal backgrounds. You may want to consider bringing on someone with an entrepreneurial
background, or someone who is proficient with emerging technologies. You may
also want to recruit members who have influence in the community, work at similar types of organizations, or are representative of the community you are serving. Having this collective knowledge from the beginning will help you make informed decisions. You will also find that as your organization matures, your board composition needs may be very different from those of your founding board. The role of the board tends to change over time as the organization
develops and matures. Early in an organization’s life, the primary need for the board may be individuals who are prepared to give a great deal of time and energy. Later, you may find that as paid staff are brought on, the board focuses primarily on the governance functions of the organization and is less involved with the smaller details of bringing the organization up to speed.
HOW BIG SHOULD THE BOARD BE?
Boards can vary in size from three to more than 50 members.  Each state has regulations that determine the minimum size of the board, but the optimum number of people who sit on the board should be determined by the needs of the organization. Assess the list of tasks that the board needs to accomplish and plan your board around the jobs that need to be done. There should be enough meaningful tasks for the board to accomplish without leaving board
members feeling overburdened or uninvolved.
HOW OFTEN SHOULD THE BOARD MEET?
As with the size of your board, the number of board meetings each year should be determined by the work that needs to be accomplished. For logistical and practical reasons, larger boards often meet less frequently, leaving much of the work to the board’s committees.
Regular attendance at board meetings is one of the individual responsibilities of board members. Your organization’s bylaws should include an attendance policy that clearly states the number of meetings that can be missed by an individual board member before he or she is asked to leave the board. Develop an annual schedule of meetings determined a year in advance. Circulate clear and thorough information materials, including an agenda, to all members
two to three weeks before each meeting. Maintain complete and accurate minutes of all meetings, and keep meetings brief and well focused. An organization’s bylaws should also state the number of board members required to constitute a quorum. Without a quorum, the board is unable to conduct its official business.
WHAT KIND OF TERM LIMITS SHOULD BOARD MEMBERS SERVE?
There are no hard-and-fast rules for determining board members’ tenure. Many organizations do, however, limit members to two consecutive terms and require a hiatus of one year before a board member may be reappointed. Many organizations also stagger terms of service so that one-half or one-third of board members are elected every one or two years for terms of two to six years. Such policies encourage institutional renewal because a board can profit from the experience of veteran board members while welcoming the fresh perspective that new members offer. Board members on hiatus can remain active in committee service or serve in an advisory capacity. Term limits are a painless mechanism for rotating inactive or ineffective members off the board. These policies should be written into the organization’s bylaws.

Call (678) 866-1436 for more information!  www.riversidepropertymgt.com

Riverside Property Management in Kennesaw works with homeowner and condo associations providing a variety of management, code enforcement, consulting and educational services, reserve studies, budgeting assistance and maintenance planning expertise.

Build a Better Board for Your HOA, POA or Condo Association


surf_board_meeting_card-p137694051110942242q0yk_400

WHO SHOULD BE ON THE BOARD?

The board should be composed of a diverse group of individuals who are interested in working toward the organization’s mission and have the particular skills that will help to contribute to a well-run organization. For instance, you may want to seek out people with financial, marketing, or legal backgrounds. You may want to consider bringing on someone with an entrepreneurial
background, or someone who is proficient with emerging technologies. You may
also want to recruit members who have influence in the community, work at similar types of organizations, or are representative of the community you are serving. Having this collective knowledge from the beginning will help you make informed decisions. You will also find that as your organization matures, your board composition needs may be very different from those of your founding board. The role of the board tends to change over time as the organization
develops and matures. Early in an organization’s life, the primary need for the board may be individuals who are prepared to give a great deal of time and energy. Later, you may find that as paid staff are brought on, the board focuses primarily on the governance functions of the organization and is less involved with the smaller details of bringing the organization up to speed.
HOW BIG SHOULD THE BOARD BE?
Boards can vary in size from three to more than 50 members.  Each state has regulations that determine the minimum size of the board, but the optimum number of people who sit on the board should be determined by the needs of the organization. Assess the list of tasks that the board needs to accomplish and plan your board around the jobs that need to be done. There should be enough meaningful tasks for the board to accomplish without leaving board
members feeling overburdened or uninvolved.
HOW OFTEN SHOULD THE BOARD MEET?
As with the size of your board, the number of board meetings each year should be determined by the work that needs to be accomplished. For logistical and practical reasons, larger boards often meet less frequently, leaving much of the work to the board’s committees.
Regular attendance at board meetings is one of the individual responsibilities of board members. Your organization’s bylaws should include an attendance policy that clearly states the number of meetings that can be missed by an individual board member before he or she is asked to leave the board. Develop an annual schedule of meetings determined a year in advance. Circulate clear and thorough information materials, including an agenda, to all members
two to three weeks before each meeting. Maintain complete and accurate minutes of all meetings, and keep meetings brief and well focused. An organization’s bylaws should also state the number of board members required to constitute a quorum. Without a quorum, the board is unable to conduct its official business.
WHAT KIND OF TERM LIMITS SHOULD BOARD MEMBERS SERVE?
There are no hard-and-fast rules for determining board members’ tenure. Many organizations
do, however, limit members to two consecutive terms and require a hiatus of one year before a
board member may be reappointed. Many organizations also stagger terms of service so that
one-half or one-third of board members are elected every one or two years for terms of two to
six years. Such policies encourage institutional renewal because a board can profit from the
experience of veteran board members while welcoming the fresh perspective that new members
offer. Board members on hiatus can remain active in committee service or serve in an
advisory capacity. Term limits are a painless mechanism for rotating inactive or ineffective
members off the board. These policies should be written into the organization’s bylaws.

Call (678) 866-1436 for more information!  www.riversidepropertymgt.com

Riverside Property Management in Kennesaw works with homeowner and condo associations providing a variety of management, code enforcement, consulting and educational services, reserve studies, budgeting assistance and maintenance planning expertise.

Creating A Board for Your HOA or Condominium Association in Georgia


WHO SHOULD BE ON THE BOARD?
The board should be composed of a diverse group of individuals who are interested in working toward the organization’s mission and have the particular skills that will help to contribute to a well-run organization. For instance, you may want to seek out people with financial, marketing, or legal backgrounds. You may want to consider bringing on someone with an entrepreneurial
background, or someone who is proficient with emerging technologies. You may
also want to recruit members who have influence in the community, work at similar types of organizations, or are representative of the community you are serving. Having this collective knowledge from the beginning will help you make informed decisions. You will also find that as your organization matures, your board composition needs may be very different from those of your founding board. The role of the board tends to change over time as the organization
develops and matures. Early in an organization’s life, the primary need for the board may be individuals who are prepared to give a great deal of time and energy. Later, you may find that as paid staff are brought on, the board focuses primarily on the governance functions of the organization and is less involved with the smaller details of bringing the organization up to speed.
HOW BIG SHOULD THE BOARD BE?
Boards can vary in size from three to more than 50 members.  Each state has regulations that determine the minimum size of the board, but the optimum number of people who sit on the board should be determined by the needs of the organization. Assess the list of tasks that the board needs to accomplish and plan your board around the jobs that need to be done. There should be enough meaningful tasks for the board to accomplish without leaving board
members feeling overburdened or uninvolved.
HOW OFTEN SHOULD THE BOARD MEET?
As with the size of your board, the number of board meetings each year should be determined by the work that needs to be accomplished. For logistical and practical reasons, larger boards often meet less frequently, leaving much of the work to the board’s committees.
Regular attendance at board meetings is one of the individual responsibilities of board members. Your organization’s bylaws should include an attendance policy that clearly states the number of meetings that can be missed by an individual board member before he or she is asked to leave the board. Develop an annual schedule of meetings determined a year in advance. Circulate clear and thorough information materials, including an agenda, to all members
two to three weeks before each meeting. Maintain complete and accurate minutes of all meetings, and keep meetings brief and well focused. An organization’s bylaws should also state the number of board members required to constitute a quorum. Without a quorum, the board is unable to conduct its official business.
WHAT KIND OF TERM LIMITS SHOULD BOARD MEMBERS SERVE?
There are no hard-and-fast rules for determining board members’ tenure. Many organizations do, however, limit members to two consecutive terms and require a hiatus of one year before a board member may be reappointed. Many organizations also stagger terms of service so that one-half or one-third of board members are elected every one or two years for terms of two to six years. Such policies encourage institutional renewal because a board can profit from the experience of veteran board members while welcoming the fresh perspective that new members offer. Board members on hiatus can remain active in committee service or serve in an advisory capacity. Term limits are a painless mechanism for rotating inactive or ineffective members off the board. These policies should be written into the organization’s bylaws.

Call (678) 866-1436 for more information!  www.riversidepropertymgt.com

Riverside Property Management in Kennesaw works with homeowner and condo associations providing a variety of management, code enforcement, consulting and educational services, reserve studies, budgeting assistance and maintenance planning expertise.

Creating A Successful Board for Your HOA or Condo Association in Georgia


https://i0.wp.com/www.belleplaine.lib.ia.us/images/2009a/boardmeeting.jpg

WHO SHOULD BE ON THE BOARD?
The board should be composed of a diverse group of individuals who are interested in working toward the organization’s mission and have the particular skills that will help to contribute to a well-run organization. For instance, you may want to seek out people with financial, marketing, or legal backgrounds. You may want to consider bringing on someone with an entrepreneurial
background, or someone who is proficient with emerging technologies. You may
also want to recruit members who have influence in the community, work at similar types of organizations, or are representative of the community you are serving. Having this collective knowledge from the beginning will help you make informed decisions. You will also find that as your organization matures, your board composition needs may be very different from those of your founding board. The role of the board tends to change over time as the organization
develops and matures. Early in an organization’s life, the primary need for the board may be individuals who are prepared to give a great deal of time and energy. Later, you may find that as paid staff are brought on, the board focuses primarily on the governance functions of the organization and is less involved with the smaller details of bringing the organization up to speed.
HOW BIG SHOULD THE BOARD BE?
Boards can vary in size from three to more than 50 members.  Each state has regulations that determine the minimum size of the board, but the optimum number of people who sit on the board should be determined by the needs of the organization. Assess the list of tasks that the board needs to accomplish and plan your board around the jobs that need to be done. There should be enough meaningful tasks for the board to accomplish without leaving board
members feeling overburdened or uninvolved.
HOW OFTEN SHOULD THE BOARD MEET?
As with the size of your board, the number of board meetings each year should be determined by the work that needs to be accomplished. For logistical and practical reasons, larger boards often meet less frequently, leaving much of the work to the board’s committees.
Regular attendance at board meetings is one of the individual responsibilities of board members. Your organization’s bylaws should include an attendance policy that clearly states the number of meetings that can be missed by an individual board member before he or she is asked to leave the board. Develop an annual schedule of meetings determined a year in advance. Circulate clear and thorough information materials, including an agenda, to all members
two to three weeks before each meeting. Maintain complete and accurate minutes of all meetings, and keep meetings brief and well focused. An organization’s bylaws should also state the number of board members required to constitute a quorum. Without a quorum, the board is unable to conduct its official business.
WHAT KIND OF TERM LIMITS SHOULD BOARD MEMBERS SERVE?
There are no hard-and-fast rules for determining board members’ tenure. Many organizations
do, however, limit members to two consecutive terms and require a hiatus of one year before a
board member may be reappointed. Many organizations also stagger terms of service so that
one-half or one-third of board members are elected every one or two years for terms of two to
six years. Such policies encourage institutional renewal because a board can profit from the
experience of veteran board members while welcoming the fresh perspective that new members
offer. Board members on hiatus can remain active in committee service or serve in an
advisory capacity. Term limits are a painless mechanism for rotating inactive or ineffective
members off the board. These policies should be written into the organization’s bylaws.

Creating A Board for Your HOA or Condo Association in Georgia


https://i2.wp.com/blog.bizmosis.com/wp-content/uploads/2010/10/team.jpg

WHO SHOULD BE ON THE BOARD?
The board should be composed of a diverse group of individuals who are interested in working toward the organization’s mission and have the particular skills that will help to contribute to a well-run organization. For instance, you may want to seek out people with financial, marketing, or legal backgrounds. You may want to consider bringing on someone with an entrepreneurial
background, or someone who is proficient with emerging technologies. You may
also want to recruit members who have influence in the community, work at similar types of organizations, or are representative of the community you are serving. Having this collective knowledge from the beginning will help you make informed decisions. You will also find that as your organization matures, your board composition needs may be very different from those of your founding board. The role of the board tends to change over time as the organization
develops and matures. Early in an organization’s life, the primary need for the board may be individuals who are prepared to give a great deal of time and energy. Later, you may find that as paid staff are brought on, the board focuses primarily on the governance functions of the organization and is less involved with the smaller details of bringing the organization up to speed.
HOW BIG SHOULD THE BOARD BE?
Boards can vary in size from three to more than 50 members.  Each state has regulations that determine the minimum size of the board, but the optimum number of people who sit on the board should be determined by the needs of the organization. Assess the list of tasks that the board needs to accomplish and plan your board around the jobs that need to be done. There should be enough meaningful tasks for the board to accomplish without leaving board
members feeling overburdened or uninvolved.
HOW OFTEN SHOULD THE BOARD MEET?
As with the size of your board, the number of board meetings each year should be determined by the work that needs to be accomplished. For logistical and practical reasons, larger boards often meet less frequently, leaving much of the work to the board’s committees.
Regular attendance at board meetings is one of the individual responsibilities of board members. Your organization’s bylaws should include an attendance policy that clearly states the number of meetings that can be missed by an individual board member before he or she is asked to leave the board. Develop an annual schedule of meetings determined a year in advance. Circulate clear and thorough information materials, including an agenda, to all members
two to three weeks before each meeting. Maintain complete and accurate minutes of all meetings, and keep meetings brief and well focused. An organization’s bylaws should also state the number of board members required to constitute a quorum. Without a quorum, the board is unable to conduct its official business.
WHAT KIND OF TERM LIMITS SHOULD BOARD MEMBERS SERVE?
There are no hard-and-fast rules for determining board members’ tenure. Many organizations
do, however, limit members to two consecutive terms and require a hiatus of one year before a
board member may be reappointed. Many organizations also stagger terms of service so that
one-half or one-third of board members are elected every one or two years for terms of two to
six years. Such policies encourage institutional renewal because a board can profit from the
experience of veteran board members while welcoming the fresh perspective that new members
offer. Board members on hiatus can remain active in committee service or serve in an
advisory capacity. Term limits are a painless mechanism for rotating inactive or ineffective
members off the board. These policies should be written into the organization’s bylaws.

Build a Better Board for Your HOA, POA or Condo Association


https://i2.wp.com/blog.bizmosis.com/wp-content/uploads/2010/10/team.jpg

WHO SHOULD BE ON THE BOARD?
The board should be composed of a diverse group of individuals who are interested in working toward the organization’s mission and have the particular skills that will help to contribute to a well-run organization. For instance, you may want to seek out people with financial, marketing, or legal backgrounds. You may want to consider bringing on someone with an entrepreneurial
background, or someone who is proficient with emerging technologies. You may
also want to recruit members who have influence in the community, work at similar types of organizations, or are representative of the community you are serving. Having this collective knowledge from the beginning will help you make informed decisions. You will also find that as your organization matures, your board composition needs may be very different from those of your founding board. The role of the board tends to change over time as the organization
develops and matures. Early in an organization’s life, the primary need for the board may be individuals who are prepared to give a great deal of time and energy. Later, you may find that as paid staff are brought on, the board focuses primarily on the governance functions of the organization and is less involved with the smaller details of bringing the organization up to speed.
HOW BIG SHOULD THE BOARD BE?
Boards can vary in size from three to more than 50 members.  Each state has regulations that determine the minimum size of the board, but the optimum number of people who sit on the board should be determined by the needs of the organization. Assess the list of tasks that the board needs to accomplish and plan your board around the jobs that need to be done. There should be enough meaningful tasks for the board to accomplish without leaving board
members feeling overburdened or uninvolved.
HOW OFTEN SHOULD THE BOARD MEET?
As with the size of your board, the number of board meetings each year should be determined by the work that needs to be accomplished. For logistical and practical reasons, larger boards often meet less frequently, leaving much of the work to the board’s committees.
Regular attendance at board meetings is one of the individual responsibilities of board members. Your organization’s bylaws should include an attendance policy that clearly states the number of meetings that can be missed by an individual board member before he or she is asked to leave the board. Develop an annual schedule of meetings determined a year in advance. Circulate clear and thorough information materials, including an agenda, to all members
two to three weeks before each meeting. Maintain complete and accurate minutes of all meetings, and keep meetings brief and well focused. An organization’s bylaws should also state the number of board members required to constitute a quorum. Without a quorum, the board is unable to conduct its official business.
WHAT KIND OF TERM LIMITS SHOULD BOARD MEMBERS SERVE?
There are no hard-and-fast rules for determining board members’ tenure. Many organizations
do, however, limit members to two consecutive terms and require a hiatus of one year before a
board member may be reappointed. Many organizations also stagger terms of service so that
one-half or one-third of board members are elected every one or two years for terms of two to
six years. Such policies encourage institutional renewal because a board can profit from the
experience of veteran board members while welcoming the fresh perspective that new members
offer. Board members on hiatus can remain active in committee service or serve in an
advisory capacity. Term limits are a painless mechanism for rotating inactive or ineffective
members off the board. These policies should be written into the organization’s bylaws.

Creating A Board for Your HOA or Condominium Association


https://i2.wp.com/blog.bizmosis.com/wp-content/uploads/2010/10/team.jpg

WHO SHOULD BE ON THE BOARD?
The board should be composed of a diverse group of individuals who are interested in working toward the organization’s mission and have the particular skills that will help to contribute to a well-run organization. For instance, you may want to seek out people with financial, marketing, or legal backgrounds. You may want to consider bringing on someone with an entrepreneurial
background, or someone who is proficient with emerging technologies. You may
also want to recruit members who have influence in the community, work at similar types of organizations, or are representative of the community you are serving. Having this collective knowledge from the beginning will help you make informed decisions. You will also find that as your organization matures, your board composition needs may be very different from those of your founding board. The role of the board tends to change over time as the organization
develops and matures. Early in an organization’s life, the primary need for the board may be individuals who are prepared to give a great deal of time and energy. Later, you may find that as paid staff are brought on, the board focuses primarily on the governance functions of the organization and is less involved with the smaller details of bringing the organization up to speed.
HOW BIG SHOULD THE BOARD BE?
Boards can vary in size from three to more than 50 members.  Each state has regulations that determine the minimum size of the board, but the optimum number of people who sit on the board should be determined by the needs of the organization. Assess the list of tasks that the board needs to accomplish and plan your board around the jobs that need to be done. There should be enough meaningful tasks for the board to accomplish without leaving board
members feeling overburdened or uninvolved.
HOW OFTEN SHOULD THE BOARD MEET?
As with the size of your board, the number of board meetings each year should be determined by the work that needs to be accomplished. For logistical and practical reasons, larger boards often meet less frequently, leaving much of the work to the board’s committees.
Regular attendance at board meetings is one of the individual responsibilities of board members. Your organization’s bylaws should include an attendance policy that clearly states the number of meetings that can be missed by an individual board member before he or she is asked to leave the board. Develop an annual schedule of meetings determined a year in advance. Circulate clear and thorough information materials, including an agenda, to all members
two to three weeks before each meeting. Maintain complete and accurate minutes of all meetings, and keep meetings brief and well focused. An organization’s bylaws should also state the number of board members required to constitute a quorum. Without a quorum, the board is unable to conduct its official business.
WHAT KIND OF TERM LIMITS SHOULD BOARD MEMBERS SERVE?
There are no hard-and-fast rules for determining board members’ tenure. Many organizations
do, however, limit members to two consecutive terms and require a hiatus of one year before a
board member may be reappointed. Many organizations also stagger terms of service so that
one-half or one-third of board members are elected every one or two years for terms of two to
six years. Such policies encourage institutional renewal because a board can profit from the
experience of veteran board members while welcoming the fresh perspective that new members
offer. Board members on hiatus can remain active in committee service or serve in an
advisory capacity. Term limits are a painless mechanism for rotating inactive or ineffective
members off the board. These policies should be written into the organization’s bylaws.

Creating A Board for Your HOA, POA or Condominium Association


https://i2.wp.com/blog.bizmosis.com/wp-content/uploads/2010/10/team.jpg

WHO SHOULD BE ON THE BOARD?
The board should be composed of a diverse group of individuals who are interested in working toward the organization’s mission and have the particular skills that will help to contribute to a well-run organization. For instance, you may want to seek out people with financial, marketing, or legal backgrounds. You may want to consider bringing on someone with an entrepreneurial
background, or someone who is proficient with emerging technologies. You may
also want to recruit members who have influence in the community, work at similar types of organizations, or are representative of the community you are serving. Having this collective knowledge from the beginning will help you make informed decisions. You will also find that as your organization matures, your board composition needs may be very different from those of your founding board. The role of the board tends to change over time as the organization
develops and matures. Early in an organization’s life, the primary need for the board may be individuals who are prepared to give a great deal of time and energy. Later, you may find that as paid staff are brought on, the board focuses primarily on the governance functions of the organization and is less involved with the smaller details of bringing the organization up to speed.
HOW BIG SHOULD THE BOARD BE?
Boards can vary in size from three to more than 50 members.  Each state has regulations that determine the minimum size of the board, but the optimum number of people who sit on the board should be determined by the needs of the organization. Assess the list of tasks that the board needs to accomplish and plan your board around the jobs that need to be done. There should be enough meaningful tasks for the board to accomplish without leaving board
members feeling overburdened or uninvolved.
HOW OFTEN SHOULD THE BOARD MEET?
As with the size of your board, the number of board meetings each year should be determined by the work that needs to be accomplished. For logistical and practical reasons, larger boards often meet less frequently, leaving much of the work to the board’s committees.
Regular attendance at board meetings is one of the individual responsibilities of board members. Your organization’s bylaws should include an attendance policy that clearly states the number of meetings that can be missed by an individual board member before he or she is asked to leave the board. Develop an annual schedule of meetings determined a year in advance. Circulate clear and thorough information materials, including an agenda, to all members
two to three weeks before each meeting. Maintain complete and accurate minutes of all meetings, and keep meetings brief and well focused. An organization’s bylaws should also state the number of board members required to constitute a quorum. Without a quorum, the board is unable to conduct its official business.
WHAT KIND OF TERM LIMITS SHOULD BOARD MEMBERS SERVE?
There are no hard-and-fast rules for determining board members’ tenure. Many organizations
do, however, limit members to two consecutive terms and require a hiatus of one year before a
board member may be reappointed. Many organizations also stagger terms of service so that
one-half or one-third of board members are elected every one or two years for terms of two to
six years. Such policies encourage institutional renewal because a board can profit from the
experience of veteran board members while welcoming the fresh perspective that new members
offer. Board members on hiatus can remain active in committee service or serve in an
advisory capacity. Term limits are a painless mechanism for rotating inactive or ineffective
members off the board. These policies should be written into the organization’s bylaws.

Audit the Associations Books?


Audits are Expensive and Should Be Done Selectively.

An audit is an extensive and methodical examination of all of the books, records and accounts that support the financial statements.  In most circumstances, they are costly and time consuming.  However, it is often prudent to audit the HOA books and records whenever a developer turns over a community to the homeowners to verify that the developer has fulfilled its obligations to the association, and won’t leave unit owners holding the bag for any unpaid fees.  Or an audit may be need if misappropriation of funds by an association or management company is suspected or a community is transtioning from self-management to a management company and experiencing extreme financial hardship.    In those case, a forensic audit must be performed to determine exactly where the money has been going.

A Review is a Less Expensive Alternative to an Audit.

A review is a report of limited assurance stating that the accountant is not aware of any material modifications that need to be made to the financial statements in order for them to conform with Generally Accepted Accounting Principles (GAAP). The accountant must perform sufficient inquiry and procedures to give a reasonable basis for that conclusion.  A review is a more affordable alternative for most associations and should be sufficient in most cases.

When governing documents talk about “audit,” it generally refers to some level of independent review of the books by a CPA.   Depending on the size and complexity of your HOA, an audit may be overkill and may not be warranted.   Rather than perform an annual audit, the Board may elect to perform an annual review.

Whether your HOA decides to do a review, a compilation, or a full blown audit,  we think it is a good idea to do on an annual basis.   Some HOA governing documents require it, others are silent on this point.

There are a variety of qualified CPA‘s in the Atlanta area that can do this work for your Atlanta HOA. Why is this a good idea? The easiest answer is a simple one: it’s smart, prudent policy. Even if you are confident in your Atlanta HOA management company, it is a good idea to do this as it shows the membership that you are being thorough in your desire to ensure the HOA’s funds are tended to in an appropriate manner. Regardless of whether you do an audit, make sure you review the financial reports you get from your property management company each month.

We are happy to provide financial report training to any of our clients. We’ll explain what the GAAP rules are and why we adhere to them in your financial reporting. We’ll also explain the rules of double entry and much more. If you are interested in getting more information on our financial report training webinars please contact us by going to our website at http://www.riversidepropertymgt.com.

How Do I Form an HOA in Georgia?


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Home Owners Associations (HOAs) bring peace and civility to shared communities. Condominium or single-family home complexes may create an HOA to determine how common areas will be maintained, for example. In Georgia, as in most states across the country, bylaws and a board of directors must be established before an HOA is official. Talk to neighbors within your development to garner support for the HOA and commence with an expeditious launch.

Difficulty:
Moderately Easy

Instructions

    • 1

      Contact the Georgia General Assembly. Reach out to the offices of your House of Representatives and/or State Senator and ask for a copy of the Georgia Property Owners’ Association Act (GPOA). Review the GPOA to familiarize yourself with the rules and guidelines of the state for creating an HOA. Log online and visit the official Georgia General Assembly website to find the contact information for your respective representatives.

    • 2

      Form the physical HOA. Assemble residents of your community. Elect HOA leadership representatives including a president, vice-president, secretary, and treasurer. Establish any committees necessary to the function of your HOA — planning or policy committees, for example. Write the bylaws for the HOA. State how shared community areas will be overseen, who is affected by the rules and the amount members will pay for annual dues. Title the bylaws “Declaration of Covenants, Conditions, and Restrictions.”

    • 3

      Reach out to the Internal Revenue Service (IRS). Ask an IRS representative for all necessary 501(c)(4) tax documentation for creating an HOA. Filing for 501(c)(4) status makes the HOA an official non-profit organization. Submit all necessary forms and supplemental documentation — a copy of the bylaws, for example — required by the IRS. Consult IRS agents and the 501(c) (4) forms for instructions.