In formal terms, board members are responsible for "fulfilling their fiduciary duties". But what the heck does that mean???
Well, here are some things Board members are responsible for. (These come from CAI's "Rights & Responsiblities for Better Communities".)
- participate in Board meetings & decision-making communication in a prompt manner
- meet their responsibilities as a homeowner, and as a community leader
- contribute to a responsive & competent association
- manage the association in an organized manner, and exercise sound business judgment
- be honest, fair & respectful
- maintain the community according to established, agreed-upon standards
- help manage funds responsibly
- demonstrate a willingness to listen to others
- keep an open mind
- support their colleagues
- encourage input from residents
- conduct business in a transparent manner
- become educated in the association's governing documents
Board members' responsibilities do require a commitment of time and effort, but when willing participants serve, it doesn't take much -- and it's time well-spent!
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