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1. Think about the Big Picture: deal with issues that people bring to you, but also keep your mind on all aspects of your mission. The buildings, the residents, the neighborhood, the lenders, the management company, and what is not included here.

2. "Fiduciary" responsibilities -- meaning manage your money well. You are managing the money and the other assets for all the organization's members. So:

bulletBe honest.
bullet"Due diligence"
bulletManage it for its best return.
bulletSet annual budget
bulletAudit once a year.

 

3. Run organization democratically.

bulletAdhere to Bylaws
bulletHold elections regularly
bulletMeetings should be open and well-announced. Bring major issues to membership.
bulletCommittees
bulletProvide plenty of information about what you are doing.

4. Operate your development

bulletSupervise your manager
bulletUnderstand the laws that pertain to your housing
bulletMake sure the housing is safe and sound and the residents are reasonably content.

5. Supervise your Contractors and Staff

bulletAlways select your contractors through a "Request for Proposals".
bulletConsultants should have contracts.
bulletRemember that you are the boss - Large decisions should be yours. At the same time, you hire a contractor because you trust them. You shouldn't need to check every little thing they do.
bulletAll consultants, contractors and staff should know exactly who is supervising them, whether a single person or the Board. Other Directors or Members should not attempt to direct that contractor or staff person.

6. Keep records. Have an office.

bulletKeep meeting minutes and notices and sign up sheets.
bulletKeep monthly financial records.
bulletContracts and other binding documents.

7. Build the Organization

bulletResident Selection
bulletOrientation of new Residents
bulletRecruitment of active members for Association
bulletCommittees
bulletLeadership Development

8. Education

bulletFor new members
bulletFor new directors
bulletRefresher courses
bulletOngoing learning

9. Strategic Planning

bulletKnow yourself and your organization.
bulletSet goals and means of reaching them.
bulletEvaluate your progress toward these goals

10. Limits to Your Power

1. Individual Limits - Trustees as individuals have no powers except what the Board specifically delegates to them. Officers have certain powers as described in your Bylaws.

2. Legal Limits - The Board must act legally. For example,

bulletIt must observe the terms of its contracts;
bulletIt must observe state Housing Laws.

3. Affordability - The Board must keep the Association in compliance with the Regulatory Agreement.

4. Board Limits - The Board only has the powers delegated to it by the Bylaws. The Board does not have the power to make decisions concerning anyone's personal life, except as it is affected by Bylaws.

5. Practical Limits - While not required, in order to best execute your responsibilities as a Director, you will do best by treating all other Trustees, your Owners, your Management Company, and Staff, with respect and consideration at all times.

 

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Unless otherwise indicated, copyright 1999 ARCH. All rights reserved.
Revised: October 02, 2003.

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