As a member of a homeowner association Board of Directors, you're charged with directing association business wisely and being "in the know". Since -- asset-wise -- you're often directors of a multi-million dollar corporation, you should carefully consider all business before acting.

Like any corporation, homeowner association business is seldom cut and dried. Often, there are political ramifications, so the Board must tread carefully. So how can the Board get and stay better informed?

Retreats

Retreats are a good way of getting the Board to focus on important goals and issues. Retreats are designed to talk about philosophical issues and not to transact business. Business, as always, should be handled in a duly called board meeting open to the homeowners.

A retreat needs to be held apart from activities that invariably interfere. Ringing phones, the kids' rap music and barking dogs make it impossible to focus on really tough issues.

If not a full-blown retreat, consider gathering in a community meeting room. Libraries often have them available for little or no charge with the advantage of an available copier.

Board Manuals

Another invaluable information tool is the Board Manual. It's a collection of association information that can be quickly accessed when needed, such as:

• Governing Documents (CC&Rs)

• Rules & Regulations

• Current Operating Budget

• Reserve Study

• Insurance Coverage Recap & Agent Contact Information

• Management Planning Calendar

• Maintenance & Insurance Areas of Responsibility

• Current Financial Report

• Meeting Minutes (last 12 months)

• Newsletters (last 12 months)

• List of Board Members, addresses, phone #s and email addresses

• Management key contact, phone #s, email address

• Utility Companies (trash, water, power, gas, cable, phone) phone #s

• List of Contractors, key contact, phone#s (landscape, janitorial, etc.)

• Map showing streets, buildings, homes, utility meters, fire extinguishers, underground plumbing, equipment, etc.

• Security Information (keys, passwords, etc.)

• Tool and Equipment Inventory

• Equipment Information (elevator equipment, parking garage door, pool equipment, etc.)

Organize this information by subject in a three ring binder so updates can be easily made. Provide one to each board member. With this basic information on hand, most issues and crises can be addressed without scrambling.

Prepare for Meetings

All Board Meetings should have an agenda and related materials distributed to the directors at least a week in advance of the meeting. Review things like financial reports, owner requests and contract proposals in advance of the meeting so you're not shooting from the "lip". At the meeting, stick to the agenda. Do not allow owners to spring complicated issues at the meeting and expect a decision. Architectural change requests and rules enforcement issues should only be considered after full and complete written request is received and calendared for the Board Meeting.

Get Good Advice

One area where Boards often stumble is failure to seek out competent advice. Use your insurance agent, an attorney specializing in homeowner association law, a CPA, reserve analyst, engineers and architects when the subject matter is clearly beyond the expertise of the Board. Do not "wing it" to save a few bucks.

There is too much riding on the outcome and the owners are depending on you. The Board is not charged with knowing everything but to make informed decisions. Gather the information indicated for a Board Manual and assemble it now! And, give yourself time to reflect on the impact and consequences of the decisions you make. Those decisions directly affect the harmony of the community.

For more information on this subject, see www.Regenesis.net.