John A. Lewis
15232 1/4 Dickens Street Sherman Oaks, CA 91403 Phone/FAX: (818) 788-1747 Cell (818) 219-3975 E-Mail: j_lewis1@pacbell.net
NOVEMBER 20, 2004
RE: 2005 Operating Budget & Dues Increase
Dear Dickens Street Gardens Board of Directors,
Please note the following from our Bylaws:
ARTICLE III, ADMINISTRATION
Section 1. Association Responsibilities.
The owners of the ACondominium@ will constitute the Association of Owners (hereinafter referred to as AAssociation@) who will have the responsibility of administering the project, approving the annual budget, establishing and collecting monthly assessments and arranging for the management of the project pursuant to an agreement, containing provisions relating to the duties, obligations, removal and compensation of the management agent. Except as otherwise provided, decisions and resolutions of the Association shall require approval by a majority of owners .
It appears that the 2005 operating budget and any dues increase directly related to that budget must first be approved by the general membership, before being implemented. The Board of Directors doesn?’t, on their own and along with their management agent, have the power to create and then pass a budget.
The way I see it, the 2004 budget stays in effect until the general Membership meeting in March 2005.
A simple solution would be to change the Annual Meeting date to November so members can vote on the new budget or change the beginning date of the proposed 2005 budget to take effect after the general membership meeting time in March.
Sincerely,
John Lewis
15232 1/4 Dickens Street Sherman Oaks, CA 91403 Phone/FAX: (818) 788-1747 Cell (818) 219-3975 E-Mail: j_lewis1@pacbell.net
NOVEMBER 20, 2004
RE: 2005 Operating Budget & Dues Increase
Dear Dickens Street Gardens Board of Directors,
Please note the following from our Bylaws:
ARTICLE III, ADMINISTRATION
Section 1. Association Responsibilities.
The owners of the ACondominium@ will constitute the Association of Owners (hereinafter referred to as AAssociation@) who will have the responsibility of administering the project, approving the annual budget, establishing and collecting monthly assessments and arranging for the management of the project pursuant to an agreement, containing provisions relating to the duties, obligations, removal and compensation of the management agent. Except as otherwise provided, decisions and resolutions of the Association shall require approval by a majority of owners .
It appears that the 2005 operating budget and any dues increase directly related to that budget must first be approved by the general membership, before being implemented. The Board of Directors doesn?’t, on their own and along with their management agent, have the power to create and then pass a budget.
The way I see it, the 2004 budget stays in effect until the general Membership meeting in March 2005.
A simple solution would be to change the Annual Meeting date to November so members can vote on the new budget or change the beginning date of the proposed 2005 budget to take effect after the general membership meeting time in March.
Sincerely,
John Lewis
