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For some number of years, voices have been raised to enfranchise our seasonal Resident Owners to enable them to join into the debate and vote on such major issues as our UCO Budget. There has been much talk, but today, the Officer's Committee took action. It turns out that a scant two lines in our Bylaws shows the way to making this happen; the following extract says it all:
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Note Nr. 3 in red.
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The motion and unanimous vote was to move the Fiscal Year to commence 1 April, 2015; it was also voted to extend the current Budget year by three months. The new budget would be presented to the Delegate Assembly in February.
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This will be presented to the Executive Board on Tuesday next, and then to the subsequent Delegate Assembly. Hopefully, the ability for our seasonal Residents to vote on the UCO budget will be accomplished in about one week.
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Can "One Vote per Unit" be far behind; we shall see.
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Dave Israel
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Excellent, the more people involved in the process ,the better CV will be .
ReplyDeleteThe fiscal year is not changing. The fiscal year will remain the same; it is the calendar year.
ReplyDeleteThe change is in the budget year. Rather than January to December, it will be changed in 2016 to April to March.
The monthly 2014 Budget will remain in place until April 1, 2016.
A Bylaw change will be requested at the October Delegate Meeting to change the month that the budget is presented to the Delegate Assembly.
The change is from a presentation in October, to a presentation in January.
This change is meant to allow more visibilty and input to and from the seasonal residents of Century Village.
I was at the meeting and understood that we would extend this current budget 3 months and start the new budget 2015/2016 on April 1, 2015?
ReplyDeleteHoward made a typing error.
ReplyDeleteBarbara is correct, the monthly 2014 Budget will be extended into 2015 for three months and then the 2015-2016 Budget will start.
Sorry for any confusion.
Apparently I've learned something: The budget year of an organization need not be the same as its fiscal year. The fiscal year, I take it, would be when an organization's records showing ACTUAL income and disbursements for a 12-month period start and end. Does it really work well for the budget year to be different? Is this widely practiced?
ReplyDeleteI do not see where a change in the budget timing has to be done via a bylaw. It is my understanding that a passed motion by the UCO delegate assembly will do it. Great idea so that more owners will be involved and we will certainly hear fewer complaints from the Norther 40. Hope all those in favor of the change attend the September delegate's meeting and hold their ballots high voting YES to change the dates.
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