Asset Evaluation Committee - Why ignored?
There is a Standing Committee of the HOA that is currently being ignored by the Board of Directors (BOD). It is the Asset Evaluation Committee. Why is it being ignored? The Procedures Reference Manual describes the Asset Evaluation Committee at Article II, §B, ¶11). "11) Asset Evaluation Committee : Is responsible for establishing and maintaining an inventory of all commonly owned components for which a reserve should be maintained. It will provide an estimate of the remaining useful life and current replacement cost of each item, as well as an analysis of the current funding status of the Reserves and will recommend a funding plan for future annual contributions in the Reserve fund. The analysis is to cover all common site improvements including entrance roads, parking areas, sidewalks only at the pool areas, curb and gutter, fencing, entrance feature, site building, ponds/lakes, walking trails, and other site amenities. This committee will be responsible for maintaining the Sum...