It’s that time of the year! The time to look back on 2014 and set goals for 2015. Here at Barrera and Company we sincerely hope you are able to learn Spanish and lose 15 pounds but more importantly – we are here to help you set and reach the goals of your Home Owner’s Association.
With that in mind, we’ve come up with a list of worthy goals for your HOA to pursue in 2015. Keep in mind, these are just examples! Feel free to get creative and come up with goals that are most relevant to your association.
1. Make sure you’ve completed your Annual Budget Report (Civil Code 5300) and Annual Policy Statement (Civil Code 5310) and are providing them to owners.
2. Unfortunately, most HOAs are not fully funded. If that’s you, make it a priority to increase your reserve funds this year by at least 20%.
READ MORE: The Reality of Underfunded Reserves
3. Speaking of which… Complete a Reserve Study! (pssst… we can help!)
READ MORE: The Importance of a Reserve Study
4. Update your CC&Rs (Covenants, Conditions, and Restrictions) and Bylaws to use the new Civil Code references (new numbers took effect in 2014).
5. Challenge all HOA members to review the governing documents (CC&Rs, bylaws, and rules). The new year is a great time for a refresher!
READ MORE: What are CC&Rs and Why Should I Care?
6. This year, set a goal to limit board meetings to 2 hours, and aim for a meeting length of 1 – 1.5 hours.
READ MORE: 6 Ways to Improve your HOA Board Meetings
7. Try to improve communication and transparency in your community by updating (or establishing) your association’s website. Keep an up to date calendar and post pertinent documents and information for download. For bonus points – establish an email database and send quarterly newsletters and/or event reminders.
8. Contact your local utility provider and request an audit for your association’s use of electricity, gas, and water. You may be able to identify areas of waste or opportunities for subsidy backed retrofits.
READ MORE: Save Water – Save the Planet, Save Money!
9. Look for opportunities to establish committees, to share the workload, and offer members opportunities to get involved.
READ MORE: 6 Ways to Prevent Board Member Fatigue
10. Make an effort to get to know each owner and recruit new board members.
What other resolutions can you think of?