Meetings are rarely on anyone’s list of favorite things to do – and keeping meeting minutes is even worse. However, timely, accurate minutes are important, especially if decisions are being made about your home and community. Ideally, after the conclusion of an HOA meeting, minutes detailing what was discussed and any decisions that were made will be submitted to the HOA board leadership who will approve the minutes and disseminate them to all relevant parties.
Unfortunately, that’s not always what happens. Some HOAs are better than others at capturing the important information from a meeting and making sure that info gets to all HOA members, whether they were able to attend the meeting or not. If you’re not sure whether your HOA meeting minutes are up to snuff, here are five must-have elements that will instantly upgrade their quality (and make things easier for the minute taker).
1. USE AN AGENDA:
It’s nearly impossible to turn out quality meeting minutes if the meeting was disorganized and poorly planned. Make sure each meeting has a clearly outlined agenda that includes all old business that needs to be reviewed, new business that needs to be addressed, and leaves room for questions and additional items that may come up.
2. FOLLOW A TEMPLATE:
The best way to ensure that all relevant and required information is included, is to use a standard template for your meeting minutes. At a minimum it should include the date and place of the meeting, the members present, and follow the outline of the meeting agenda. All motions need to be noted, and any resultant decisions included.
3. TRACK THOSE MOTIONS:
It’s already been mentioned, but one of the key requirements of HOA meeting minutes is that they accurately track all motions that are put forth and whether or not they are approved. Some states have specific requirements for how this information should be presented, so be sure to find out if there’s a certain format you need to use.
4. INCLUDE FINANCIAL INFO:
Meeting minutes are a record of the official business conducted at the meeting. One of the most vital aspects of official business is the review of financial statements. The current balance on any accounts, a review of monthly expenses, and the status of collected HOA fees should be the minimum of what is included. Other items to address may be upcoming expenses or any potential owner assessments that may be pending.
5. GET A QUORUM:
Without the requisite number of members present, any meeting held will not be valid. Before you go to the work of establishing an agenda and painstakingly recording information, make sure that a quorum is present. A quorum is the minimum number of members present to conduct official business. If you’re not sure what establishes a quorum for your association, consult the by-laws – and make sure all meetings meet the requirement.
Put these principles into practice for your next HOA meeting – and don’t hesitate to reach out to our team of experts if you have questions or want more information about successful HOA meetings and minutes. Contact PMI today to find out more!
To find out more about the subject of association management meeting minutes, contact our Property Management Inc. office.