A few owners have emailed asking what do the officers do in the association. Here are some guidelines.
- First and foremost, the Treasurer is in charge of all association funds. This would include overseeing the billing to owners, collections, and the disbursement of all Association funds. As part of their duties, the Treasurer will present a proposed operating budget and reserve allocations and throughout the year the Treasurer will also monitor the budget. The Treasurer would also be involved and oversee year-end reporting to the IRS and Indiana Secretary of State with assistance from legal and accounting counsel. The Treasurer’s position is probably the most active and most time consuming. The Treasurer should have at least some knowledge of simple bookkeeping.
- The President is the presiding officer and makes effective decisions for managing the day-to-day operations of the Association. These operations include meeting or engaging vendors, contractors and other professionals and putting various contracted services and items out to bid and the monitoring of those services. Additionally, President opens the meetings, establishes the schedule of the meeting, and coordinates the subject matter of the agenda.
- The Vice President assumes and performs the duties and responsibilities of the President during the President’s absence. The Vice President may also be asked to oversee and be in charge of any special projects for the Association. However, whatever the case, the Vice President should remain flexible, ready to pitch in, not only in the President’s absence but in whatever capacity that can contribute to help keep things operating smoothly.
Each Officer should have a place on the Agenda for Reports of the Officers, and for their report they will detail the activities of their position at each Association meeting.