Committee-Specific Purposes and Objectives:

 

 

The primary purpose of the Finance / Long Range Planning Committee shall be to advise the Board regarding development and monitoring of all financial practices and plans for HPMA, including but not limited to advising the Board regarding operating budgets and capital budgets. of the Capital Reserve.

 

In fulfilling these responsibilities, the Committee shall, among other things:

 

1. Receive and review input from all property owners, committees, board members and staff who chose to submit input regarding projected needs of the Association.

 

2. Recommend to the Board of Directors major priorities after applying a priority-setting process that includes the use of preliminary cost estimates.

 

3. Work with HPMA staff and the Treasurer, to develop draft operating and capital budgets with funding recommendations to present for Board action and Lot owners’ approval where appropriate.

 

4. Prepare/Work with outside professional consultant to draft updates of the Capital Reserve at the intervals required by statute. draft long-range plans for the preservation, major maintenance needs (not day-to-day maintenaince), and enhancement of capital assets at Hartstene Pointe and present the draft plans to the Board for consideration.

 

5. Participate in periodic reviews of financially-related plans and submit recommendations to the Board of Directors for consideration and action upon request by BOD.