LanceG1 (Georgia)
Posts: 97
Posts: 97
Posted:
I'm in a 130 house HOA with $300 a year assessments...on the board.
I've heard different opinions with this.
In some older posts I saw people mention that they had fundraisers for the social committee and that those funds were kept separate from the association. I've heard of others having a budget for it.
Right now we don't have a budget for ours, but they can ask the board for surplus money in the budget.
Obviously there are the issues of some people will not want to participate etc.. My own personal position is that I'm OK with the HOA providing it if the owners have had a chance to have a say in it. To that end I suggested that this be a part of the budget so that it is now a nebulous figure. My guiding principal is that it attempts to be inclusive to all and that people outside of the board can have a chance to have a say. Well that and don't do something that we are not insured for, against the law etc. IE: serving alcohol (we currently do not have coverage for that).
I was also reading a post about there being a limit on the amount you should spend out of association funds because it technically doesn't benefit everybody. There was a no more than 10% rule there.
What are other groups currently doing?
I've heard different opinions with this.
In some older posts I saw people mention that they had fundraisers for the social committee and that those funds were kept separate from the association. I've heard of others having a budget for it.
Right now we don't have a budget for ours, but they can ask the board for surplus money in the budget.
Obviously there are the issues of some people will not want to participate etc.. My own personal position is that I'm OK with the HOA providing it if the owners have had a chance to have a say in it. To that end I suggested that this be a part of the budget so that it is now a nebulous figure. My guiding principal is that it attempts to be inclusive to all and that people outside of the board can have a chance to have a say. Well that and don't do something that we are not insured for, against the law etc. IE: serving alcohol (we currently do not have coverage for that).
I was also reading a post about there being a limit on the amount you should spend out of association funds because it technically doesn't benefit everybody. There was a no more than 10% rule there.
What are other groups currently doing?