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1. Wasatch Commons Management Responsibilities : Overview (draft)

Overview  

The Management role is a blend of stewardship (protecting property and finances), governance (setting and enforcing rules), operations (keeping the place running), and representation (acting on behalf of all owners)

Core Responsibilities

  • Enforcing Rules: Upholding rules defined in our CC&Rs, Bylaws, Rules & Regulations fairly and consistently.
  • Legal Compliance: Ensuring the association adheres to federal, state, and local laws.
  • Maintaining Common Areas: Coordinate with Wasatch Commons' committees and community members to ensure that all Common Areas are maintained, repaired, and/or replaced as needed.
  • Financial Management: Create the annual budget, set monthly dues, collect monthly assessments (HOA fees), manage bank accounts, pay bills, oversee reserve funds for future repairs and property improvements.
  • Reserve Analysis: Ensure reserve analysis is conducted every six years as required by Utah Condo Law (??)
  • Vendor Management: Hire accountants, attorneys, contractors, property managers, and other professionals as needed
  • Insurance Oversight: Ensure Wasatch Commons has all appropriate insurance coverages; also manage claims and deductibles
  • Recordkeeping: Maintain ownership records, financial records, meeting minutes, contracts, insurance documents
  • Communication: Provide information to potential buyers, communicate policy changes, notify owners of violations, explain budgets and assessments


Officer Roles

President
HOA president’s responsibilities focus on overseeing the functioning of the association and decision-making. Typically, the president would have the final say when deciding on various initiatives and projects. Any initiative that the board can’t decide on unanimously can be pushed forward or halted by the president.

But that also means that anyone serving as the HOA president must understand bylaws and regulations at an incredible level, if only to have all the insights required to make a well-informed decision. 

Finally, because the president’s function is to ensure that the association functions at a full capacity, the person must also have an in-depth understanding of all the ins and outs of the association. 

Duties:

Overseeing the association’s activities
Decision making
Presiding and running meetings

Secretary
The HOA secretary handles all the documentation within the association. This might include managing all the HOAs documents, communicating with other board members and the residents, updating records, submitting forms, and managing the legal paperwork. 

The secretary would also notify the board and residents of upcoming meetings and record meeting minutes. 

Duties: 

Overseeing the HOA’s documents and records.
Notifying about board meetings and recording the minutes. 

Treasurer
The HOA treasurer handles the association’s money and financial matters. As part of their job, the treasurer will also conduct internal controls and monitor how the funds are being handled in the HOA. In addition, they will maintain financial records, conduct regular audits of the finances, create the HOA’s annual budget and deal with the association’s taxes.  

The treasurer might also be responsible for overseeing the HOAs insurance to ensure that the association has adequate insurance types - casualty, fidelity, worker’s compensation, and other necessary protections.

Duties:

Overseeing the association’s financial matters
Preparing annual budgets
Managing financial records
Dealing with the association’s taxes
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Fiduciary Duties
Board members have a "fiduciary duty" to the community, meaning they must act in the best interest of the association rather than personal interest. This includes the duty of care (making informed decisions), duty of loyalty (avoiding conflicts of interest), and the duty of obedience (acting within the scope of their authority). 


Key Differences between Wasatch Commons HOA Management vs other HOAs

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