HOA Annual Meeting

Started by TamH • 7 replies • 2486 views

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TamH (California)
Posts: 30

Posted:

Does it really matter if the HOA Annual Meeting is changed to another month as long as it is voted on by the shareholders?
Reason wanting to change the month of the Annual meeting is that in April the BOD is busy
getting work for the common grounds in order. We have weed spraying, many trees that need trimming, fertilizing of grass and lawn cutting for about 45 acres, and we also have horse pasture that needs taken care of after winter. Plus it is a bad time to try to do the yearly budget.
Most everyone thought Oct or Nov would be a better time to change our Annual Meeting time and there are those that say we cannot change the month in haveing the annual meeting even with a vote. Their bogus reason is something about our fiscal year cannot be changed, taxes any anything else they Bla, bla, bla that makes no sense.

RogerB (Colorado)
Posts: 5,067

Posted:

Tam, why not change the Bylaws to the optimum month to hold the annual meeting? Until you do you need to obey the Bylaws.

The fiscal year is independent of the Bylaws. It is set when you file federal taxes and has nothing to do with the annual meeting.

JeanneK3 (Maryland)
Posts: 562

Posted:

In Maryland we usually have a budget meeting separate from the annual meeting. We have our annual meeting in April (why is April so popular?) and our budget meeting in November.
Jeanne

GlenL (Ohio)
Posts: 5,491

Posted:

Do your documents specify when the annual meeting is to be held?

Studies show that 5 out of 4 people have problems with fractions

MaryA1 (Arizona)
Posts: 7,043

Posted:

Quote:

Posted By TamH on 08/02/2009 8:29 PM
Does it really matter if the HOA Annual Meeting is changed to another month as long as it is voted on by the shareholders?
Reason wanting to change the month of the Annual meeting is that in April the BOD is busy
getting work for the common grounds in order. We have weed spraying, many trees that need trimming, fertilizing of grass and lawn cutting for about 45 acres, and we also have horse pasture that needs taken care of after winter. Plus it is a bad time to try to do the yearly budget.
Most everyone thought Oct or Nov would be a better time to change our Annual Meeting time and there are those that say we cannot change the month in haveing the annual meeting even with a vote. Their bogus reason is something about our fiscal year cannot be changed, taxes any anything else they Bla, bla, bla that makes no sense.

Tam,

It makes sense to hold the annual meeting at the end of the fiscal year especially since the budget for the coming year should be discussed at the meeting. It's hard for me to give a logical opinion since I don't know what month your bylaws state the annual meeting must occur and I don't know what your fiscal year is. Changing the month of the annual meeting may not require a vote of the members. Check your bylaws to determine how they may be amended. Some assn bylaws do not require a vote of the members, instead all that is required is a vote of the BOD. Be sure to keep in mind the fact that the assn's fiscal year cannot be changed w/o IRS approval. The annual meeting and the assn's year end should coincide.

MichaelK11 (Texas)
Posts: 432

Posted:

My BoD changed the Annual Meeting from February to the end of March, in a time of great controversy and expense. Since dues are due on March 15th each year, this substantially reduced overall eligibility of the Membership to vote in elections for Directors. I believe this was an intended consequence.

In any event, that is one potential consequence of moving the meeting date.

MaryA1 (Arizona)
Posts: 7,043

Posted:

Michael,

If dues are due by Mar 15, they should all be paid up by the end of March. Many assn's pay dues each month, which would mean there wouldn't be a month in the year where there may not be delinquent members. If any member is really concerned about voting they will make certain their dues are paid up.

Does the fact that the BOD changed the meeting month mean your bylaws do not require a vote of the members to change? I think this is the norm for many assn's.

MichaelK11 (Texas)
Posts: 432

Posted:

Our Bylaws require the meeting be held in the first quarter. The change was not a violation of the Bylaws, but a dirty political trick.

Many homeowners tend to pay late.

This is the kind of change that people don't understand until afterwards. Also, this takes advantage of general apathy of homeowners. I believe it's a dirty, unethical trick, but not one of their actual rule violations.

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