Purpose of Board Meetings
What is a Condominium Board Meeting?
A condominium board meeting is a formal gathering of the elected board members to make decisions regarding the management and operation of the condominium corporation. These meetings are essential for ensuring financial accountability, operational oversight, and compliance with Alberta’s Condominium Property Act (CPA).
Key Purposes of Board Meetings:
Decision-Making:
Approving budgets and expenditures.
Setting condominium policies.
Reviewing and approving contracts (e.g., maintenance, management).
Financial Oversight:
Reviewing financial statements and reserve fund reports.
Approving special assessments, if required.
Ensuring compliance with financial reporting requirements under the Condominium Property Regulation.
Operational Management:
Discussing maintenance and repair needs.
Addressing owner concerns and complaints.
Ensuring compliance with condominium bylaws and Alberta legislation.
Timing and Scheduling Requirements for Board Meetings
Frequency of Board Meetings
The Condominium Property Act (CPA) and Regulations do not specify a required frequency for board meetings.
The corporation’s bylaws typically outline how often board meetings should occur.
Best practice is to hold regular meetings (e.g., monthly or quarterly) to ensure proactive governance.
Annual General Meeting (AGM) vs. Regular Board Meetings
Annual General Meetings (AGMs): Required by law to elect board members, review financials, and report on operations.
Regular Board Meetings: Held as needed throughout the year to manage ongoing operations and decision-making.
Notice and Agenda Requirements
Board members must receive proper notice of meetings, as required by the condominium bylaws.
Agendas should be prepared in advance to ensure meetings are structured and efficient.
Roles and Responsibilities of Board Members and the Condominium Manager in Meeting Facilitation
Board Members’ Responsibilities:
Chairperson (President): Leads meetings, ensures agenda items are covered, and facilitates discussions.
Treasurer: Presents financial statements and budget updates.
Secretary: Records meeting minutes and distributes them as required.
General Board Members: Participate in decision-making and provide input on operational matters.
Condominium Manager’s Role:
Prepares financial reports and operational updates for the board.
Advises on legal and compliance matters, ensuring the board follows CPA requirements.
Coordinates meeting logistics, including scheduling and distributing documents.
Implements board decisions by managing contracts, maintenance, and financial transactions.
The Condominium Property Act states a corporation shall keep minutes of its proceedings and make them available for inspection by an owner or a person authorized by an owner in writing. This reinforces the importance of record-keeping and transparency in board meetings.
