Annual Meeting
The Annual Meeting is scheduled for the Fall, or more accurately - during the month of September. The date and time for the Annual Meeting is communicated via regular mail, and will include a proxy form for those unable to attend.
Of all the activities while residing in a condominium, the most important for a unit owner is to attend the Annual Meeting.
The Annual Meeting is a unique occasion for co-owners to meet and find out the state of the Association and the resources necessary to keep everything in good shape. A condo is in many ways a very large part of a co-owner's net worth. To participate and learn about the state of your asset is the most important responsibility for a conscientious and responsible co-owner.
At the Annual Meeting, the minutes of the previous year's meeting will be distributed and read, and the Board president, or assignee, will present a report of the year's activities. You will learn what happened during the last year, what is planned for the next year, and of any future capital expenditures. The financial statements, prepared by an outside independent firm or accountant, will be distributed at the meeting.
Per our Bylaws, the agenda for the Annual Meeting is as follows;
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Roll call to determine the voting power represented at the meeting;
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Proof of notice of meeting or waiver of notice;
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Reading of minutes of preceding meeting;
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Reports of Officers;
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Reports of committees, if any;
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Appointment of three (3) Co-owners as inspectors of elections at annual meetings or special meetings held for purpose of election of Directors or Officers);
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Election of Directors (at annual meeting or special meetings held for such purpose);
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Unfinished business, and;
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New business.
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Per our Master Deed, votes cast at any meeting of the Association are determined by each condo unit's assigned value, or size. This results in the larger units having a slightly larger percentage vote than the smaller units. This 'assigned value' also affects our condo fees - a larger unit pays a higher monthly fee than a smaller unit. Should there be additional assessments for major repairs like roads, roofs or major construction, then the larger units again will pay more than the smaller units.
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If you are unable to attend an Annual Meeting, you can instead mail (or email a copy of) the proxy form included with the meeting notice to the Management Company. The proxy can also be sent via to the Board Secretary.
Proxy vs Designated Voter Representative Form (DVR)
Proxy vs. Designated Voter Representative Form (DVR) - do you know the difference?
When you are the only owner of a condo, you are automatically the 'Designated Voter Representative' (DVR), i.e., the person who can vote and make decisions regarding the unit. If a unit has more than one owner, then the owners must decide which one of them will be the Designated Voter Representative.
Using the wrong form (filling in a DVR form instead of a Proxy form) prior to the Annual Meeting, or any important meeting where your vote is required, could lead Co-Owners to unknowingly giving away their rights. Once a DVR form is signed over to another person, you will no longer be sent notices of future meetings or any other important information. These notices will instead be sent to the person you signed the DVR for.
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As an example; if you sign a DVR to your neighbor and the Association imposes a special assessment, you will be responsible for payment of the assessment even though you did not receive notice of this (your neighbor will receive the notice). Your unit could have a lien put on it, be foreclosed upon, and/or you may be forced to pay late fees and/or attorney’s fees, and costs, if the fees and assessments are not paid. Your unit could even end up sold at an auction without your knowledge!
In contrast, a proxy form is a "one time only" permission for another person to vote/act on your behalf at a meeting.
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Quorum - Why is it important?
A quorum is the minimum number of unit owners who must be present at a meeting before any business can be transacted. For Mill Creek that number is 35% of all owners, or 97 people. Meetings that do not have a quorum must be adjourned and rescheduled to a later date (at additional costs to the Association, i.e. the owners). If a second meeting still doesn't have a quorum, the Board will have to keep rescheduling new meetings until a quorum is achieved. This is because the Board is legally obligated to conduct an Annual Meeting for the Association (i.e., the co-owners). Co-owners present at a meeting without quorum can motion to continue the meeting to discuss the affairs of the Association. However, voting of any kind cannot be held without quorum.
During the Annual Meeting, new Board members are elected. If there is no quorum, there cannot be an election and the current Board members will remain on the Board until an election can be held.
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You can still "attend" a meeting and get counted towards the quorum requirement by submitting the proxy form included with the meeting notice for meetings of the Association. The proxy allows you to assign your vote to another person, or the Board, on your behalf. Proxies are very important as they may help avoid the additional cost of rescheduling a meeting that didn't have enough people attend in person.