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2011 CCIOA Budget Ratification Checklist

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As 2011 nears, many boards and managers find themselves in the midst of budget season. If your community was created after July 1, 1992, it is subject to the budget process laid out in CCIOA. Although this process sets forth lots of requirements, it also creates latitude for associations whose documents set forth more stringentGo to Resource

Manager Liability

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Experience has proven that a manager who takes the effort to avoid the five practices listed below benefits both from reduced liability and the increased professionalism that he/she exhibits in dealing with boards, vendors, and developers. 1.    Do not exceed documented authority to act The contract between the manager and the association and the minutes/resolutionGo to Resource

Hold Harmless Clauses In Management Agreements

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Traditionally, most management agreements contain a provision known as a “hold harmless” clause.  Such clause generally indemnifies and holds harmless a manager from claims arising from situations he or she did not cause or were forced to participate in by virtue of his or her subservient role as agent of the association.  Hold harmless clausesGo to Resource

The Consumer Price Index and Assessments

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Introduction Associations are generally formed to perform many tasks on behalf of the owners within the common interest community.  In order to perform these tasks, there must be sufficient monies.  Thus, a funding mechanism is provided through the levying of assessments.  The declaration for a community generally contains a provision addressing how the yearly assessmentGo to Resource

Reserve Funds 101

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There has been much ado about reserve studies, reserve funds and investment of reserves in the last few years, fueled largely by changes in Colorado law related to reserves.  It is no wonder board members and managers often have a lot of questions about what is required and what is prudent.  This article is designedGo to Resource

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