Page 8 - Boca ViewPointe - May '23
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Page 8, Viewpointe                                                    May 2023
      Your Fiduciary Duty

      By Peter Sachs, Founding Partner, Sachs Sax Caplan P.L.  association officers, directors, and even committee   process. This means attending meetings, asking questions,
                                                         members from actions that amount to honest mistakes   and voicing your concerns when necessary. You must
         Robert Kennedy once said, “It is the essence of   or errors in judgment, as long as the officer, director, or   also be willing to work collaboratively with other board
      responsibility to put the public good ahead of personal   committee member does not commit an act of self-dealing,   members and members of the association to make
      gain.” For Florida condominium and homeowners’     take action with a reckless disregard for the interests   decisions that are in the best interests of all involved.
      association officers and directors, this fiduciary   of others, or commit a criminal act. The long-standing      In conclusion, as a  Florida community association
      responsibility to the members of your association is no   “Business Judgment Rule” further ensures that courts will   officer and/or director, your fiduciary duty to the members
      different. You are not simply a figurehead! Rather, you   not overturn decisions made by a board, as long as those   of the association is of utmost importance. You must
      are a leader, entrusted with the task of acting in the best   decisions follow the association’s governing documents,   exercise loyalty, good faith, and due care in carrying out
      interests of the association and its members. This means   the law, and the advice of competent professionals.  your responsibilities, and be diligent in your oversight of the
      that you must exercise the utmost loyalty, good faith, and      To ensure that you are meeting your fiduciary duty as   association’s finances. By staying informed and engaged,
      due care in carrying out your responsibilities.    a Florida condominium or HOA director, it is important   you can help ensure that your association is being run
         Loyalty means that you must put the interests of the   to  stay  informed  and  engaged  in  the  decision-making   properly and in the best interests of all its members. 
      association and its members before your own personal
      interests. This can be a difficult task, especially if you have
      However, you must always remember that your primary  Community Association Meetings Monthly Schedule
      close relationships with certain members, vendors or suppliers.
      responsibility is to the association, and that any conflicts of      (All meetings held via Zoom and in person.)
      interest must be disclosed and dealt with appropriately.
         Good faith means that you must act honestly and with
      integrity at all times. This includes making decisions
      based on what you believe is best for the association,      All meetings will be held electronically via Zoom and in person. The following is our regular schedule of
      rather than your own personal gain. You must also keep   monthly meetings, however, sometimes meetings are cancelled or schedules are revised due to holidays, etc. If
      the interests of all members in mind, not just a select   you would like to attend, please call the BPCA office, (561) 395-7551, the day before the meeting to request the
      few. This can be challenging when you are faced with   Zoom link be emailed to you.
      competing demands or limited resources. However, you
      must always strive to make decisions that are fair and   Access Control & Safety Committee               2nd Thursday of each month at 9:30 a.m.
      reasonable, and that reflect the values and goals of the
      community at large.                                    Architectural Control Site Committee              1st Friday of each month at 9:30 a.m.
         Due  care  means  that  you  must  exercise  reasonable
      care and diligence in carrying out your responsibilities.   Board of Directors                           3rd Tuesday of each month at 9:30 a.m.
      This includes being informed about the issues facing the
      association, and seeking out expert advice when necessary.   Budget & Finance Committee                  The Friday before the third Tuesday of
      You must also be familiar with your association’s governing                                              each month at 9:15 a.m.
      documents, rules and regulations, and applicable laws
      (Chapter 718, Chapter 720), in order to ensure that you are
      acting in accordance with their requirements.
         One of the most important aspects of your fiduciary duty                                                                                B’H
      as an officer and/or director of a community association                                Sabra Wall Decor
      is  to  maintain  the  financial  health  of  the  association.
      This means that you must ensure that the association
      is operating within its budget, and that all expenses are   EstimatEs
      being accounted for. You must also be transparent with
      the members of the association by providing regular
      financial reports and keeping accurate records. This may   Painting & More ...
      be challenging, especially if you don’t have a background
      in finance or accounting. Thus, it is most important to
      seek out the advice of competent professionals, such as   •   Popcorn Ceiling                     •      Wallpaper Removal
      accountants, attorneys and managers.
         Mistakes in judgement and errors in application are   •   Knock Down
      normal. They are just a part of the human experience, and   •   Drywall Repair
      nobody is perfect all of the time. That is why it is important
      to  ensure  that  your  association  maintains  officers  and            Cell: (954) 931-4716                            Licensed & Insured
      directors insurance (also known as “errors and omissions”              Office: (561) 395-3057                             CC: 03-11120-P-K
      insurance).  This  insurance  protects  board  members
      from simple negligence and, well, honest mistakes. The
      law is designed to do the same, and generally protects
                                                           Are You Freaking Out About Your
          Stamp and Coin Club

            Boca Raton Stamp & Coin Club asks you to start   Elderly Parents Or Loved Ones?
         a new hobby.
            Visit with us at the Stratford Courts Auditorium
         located at 6343 Via Sonrisa del Sur, off S.W. 18th                             I have solutions and answers to all your questions (even
         Street, between Powerline Road and Military Trail.                             the ones you don't know to ask)
            We meet the second and fourth Thursday each
         month at 7 p.m. Please call membership coordinator
         Harvey Golinger at (561) 752-4922.                                            You don't have to face these obstacles alone...... I have
                                                                                        been helping families for 15 years and I have also been a
                                                                                        caregiver for my parents.

        Seeking Viewpointe                                                              I have comprehensive experience in a wide range of issues
                                                                                                   As a Certified Senior Advisor (CSA) ,
                     Writers                                                              HEALTH, FINANCIAL CONCERNS, SOCIAL ISSUES, LONG
                                                                                                        plaguing seniors such as their

        By Lisa Cammaleri                                                                  TERM CARE, REAL ESTATE, SENIOR HOUSING, GOV'T
                                                                                                   BENEFITS, & LEGAL CONSIDERATIONS.
           Do you have an interesting story to share?     Paul Solomon, PA, GRI, SRES, CSA
           The Viewpointe is always looking for new and talented
        writers to submit articles on current events, the social scene,
        restaurants, movies, family matters, village life,  etc…               COMPLIMENTARY
           We welcome news from Village Boards about activities                   30 minute
        or events in their community, which would be of interest                 consultation
        to Boca Pointe residents.
           Please submit your article to lisa.cammaleri@ for review and consideration. 
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