and will wan rema
Un rstand your fiduciary duties. Associa ion handle
for all pa ties. r
or all p rtie Undersderst
e la e su f ne n it is ma the m Und mo
ain attentiive to your issues. This s a win
nt to do mo v
his iis
do more busiine s wiess w th the associa ive to ur issues. Th
ass
ation and s a wiin-win situation
e very large sums of money. Even if it is small it is everyoryone’s money. Board members are entrusted to ta care o
ociatio s can all, it
of the money using the best business practices and, ce king?
take k d,
ye common sense. Questions should be asked where iss, co oney, when was the last time it was checked on, who has access to it, is it insured, what investment risks is thecc board tak
Under nderstan
financial docu are a my t
ay a tax forms and the l d.
nd the Association’s Financials. Association cuments can be difficult to understand as there yriad ofof accounting tools including spreadsheets, the like. You do not have to be an accounting
genius to be on the board. Ask property management and your accountant if you do not understand something. Never lose sight of the fact that they work for you, and not the other wa
genius to be on the b our account
o fa ary, a
ur a coun ant if you do sig
ght of the ffact th wa around
volu pr
hat
In summary, according to Mr. Thew, board participation goes beyond volunteering for something. It should be an honor and a privilege to serve one’s community. One person ca
Keeping in miind th
he associiatio the Gameame of Ass
son can truly make a difference for an association.diifferen mind the need to do things for the good of on wiill
according to Mr. Thew, d volunteering for som riviilel ge to serve on ake a d
nce
will help you succe sociation
d to do uc
ia ation Life. o thin
nce for an associatiooc ngs for th
ccessfully he good of y move through
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TomEngblomCMCA, AMS, PCAM VP, Regional Account Exective 312-209-2623 Toll Free 866-800-4656, ext. 7498
tom.engblom@mutualofomahabank.com
10 | COMMON INTEREST®
A Publication of CAI-Illinois Chapter
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