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M A R C H , 2 0 1 8
PRESIDENT’S
CORNER
LISA VITIELLO, CPA
CAI-NJ 2018 PRESIDENT | TOWNE & COUNTRY MANAGEMENT, INC.
"Our communities are micro-cities.
Like NYC, we have our share of
security issues."
T
his month’s issue is focused on “Homeowner Leaders.”
Homeowner Leaders in community associations are
both board members, elected by the members, at
large and committee members, usually appointed by the
board to lead those committees. I have, personally, walked
in both sets of shoes.
My first home was a condominium where I volunteered
as a committee member as well as an elected board mem-
ber. The latter lasted twenty years and I experienced com-
munity operations from the board member’s vantage point.
Board members of communities are volunteers who bring
diverse experiences to the board room. There are those
members who are interested in the social aspect of being
involved and others who wish to bring their business expe-
rience to the table. The one common link for all members is
that they have a vested interest in seeing that the community
thrives.
For many boards, this is a new endeavor. It was for me.
Being one of the first board members in a new community,
the first major matter at hand was transitioning from devel-
oper to owner control. Fortunately, for our community, we
had a seasoned board member who knew about CAI. Our
board was able to tap into the plethora of educational pro-
grams to guide us through. Education was and continues
to be key to a thriving community.
Being a board member brings much responsibility. You
are entrusted with the fiduciary duty to make the best
business judgement decisions for your community and its
"Board members of communities
are volunteers who bring diverse
experiences to the board room."
members. Therefore, I offer a few key guidelines in making
your decisions.
• Keep emotions out of your decision making. The unique
part of being a community board member is that many
situations involve your neighbors. Focus on what is best
for the community, at large.
• Self Interest should not be your motive. You were elected
to serve the members, at large
• Segregation of duties is a key financial control. Don’t
have one person performing overlapping duties. You
need checks and balances to safeguard community
assets.
• Don’t be afraid to raise fees. In the long run, it will hurt
the value of your homes if there are insufficient capital
funds to maintain the community.
• Curb appeal is important for added value. Put those
flowers in !!!
Enjoy your community and neighbors. I have life, long
friends from my community living experience.
n
Homeowner Leaders