December 26, 2011

Statement of Rights Summary

2011 December 26
See History for brief descriptions of changes and updates. 

__ Another post, Statement of Rights, provide the Statement of Rights with background and explanation/support for each of the listed 26 rights.  Since some readers may be interested only in the rights but not the detail, this post provides only the rights with minimal introduction and explanation. 

__ The continuation of this post is a Statement of Rights Summary for owners/members in a CID/POA.  Your suggestions, recommendations and concerns are requested and are welcome.  Just add a comment.  Thanks.

Don Nordeen
==========
Continue reading the Statement of Rights Summary.
  • Key Words:  Legislation, CID & POA Model & Content; Legislative Issues & Proposals; POA Governance; POA Board of Directors Issues; POA Members' Rights; Private Government; access to records; ADR; alternate dispute resolution; alternative dispute resolution; annual meeting; arbitrary; arbitrary and capricious; Armand Arabian; attorney; attorney client privilege; attorney general; attorney obligation; audit; bill of rights; board of directors; board of trustees; board of stewards; CC&R; CC&Rs; closed meeting; closed session; common interest community; common interest development; community association; Covenants Conditions and Restrictions; democracy; democratic; dispute; dispute resolution; executive session; fair election; freedom of information; GAAP; governance; governing documents; Homeowner Bill of Rights; homeowners associations; land development; Legislation, CID & POA Model & Content; legislative issues & proposals; meeting; members' meeting; members' rights; model act; nonprofit corporation; non-profit corporation; obligation; ombudsman; open meetings; planned communities; planned unit development; POA governance; POA members' rights; POA problems; POAs, general; preservation; preservation fund; private government; property owners association; property rights; proxies; proxy; proxy vote; proxy voting; public policy; reference materials & papers; reserve; reserve fund; special meeting; statement of rights; transparency; trustee; vote; voting
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December 13, 2011

Statement of Rights

     This was originally posted on 2006 October 15 on a previous blog.  The links are being checked and updated.  Any links with "swagman" in the URL refer to the previous weblog and are obsolete, and most likely not available.  Some of the invalid links are shown with cross-out.  Many of the links may have been moved by their provides, and may be available with an internet search. 

2006 October 15
Last update:  2010 Sep 17.  See History for brief descriptions of changes and updates. 

     The most important concept in legislation concerning Common Interest Developments (CIDs) and Property Owners Associations (POAs) is the definition of the rights of owners of property in a CID who are also members of the governing POA.  It is the owners who provide all of the money through their purchase of property and ongoing payments of annual and special assessments for the CIDs and the function of the POAs.

     The term, Statement of Rights, is used rather than Bill of Rights [footnote 1] to give deference to the federal Bill of Rights.  The definition of rights in the state constitutions is typically called a Declaration of Rights.  Much of the literature on this subject refers to Homeowners Bill of Rights.

     The continuation of this post is a Statement of Rights for owners/members in a CID/POA.  Combined with the notes and comments, this Statement of Rights basically defines the content for CID/POA law for mature CIDs/POAs.  Your suggestions, recommendations and concerns are requested and are welcome.  Just add a comment.  Thanks.

Don Nordeen
===========

Footnote 1 — Bill of rights is over-used, apparently to claim increased importance.  Consider a few examples of claimed bills of rights:  Library Bill of Rights, DigitalConsumer.org Bill of Rights, Academic Bill of Rights, Bill of Rights for Scientists and Engineers, Donor Bill of Rights, Patients' Bill of Rights, another Academic Bill of RightsConsumer Bill of Rights and Responsibilities in the Health Care Industry, another Consumer's Bill of Rights, Mortgage Consumer Bill of Rights, Cable Consumer Bill of Rights, ... .  There are literally thousands and thousands.

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  • Key Words:  Legislation, CID & POA Model & Content; Legislative Issues & Proposals; POA Governance; POA Board of Directors Issues; POA Members' Rights; Private Government; access to records; ADR; alternate dispute resolution; alternative dispute resolution; annual meeting; arbitrary; arbitrary and capricious; Armand Arabian; attorney; attorney client privilege; attorney general; attorney obligation; audit; bill of rights; board of directors; board of trustees; board of stewards; CC&R; CC&Rs; closed meeting; closed session; common interest community; common interest development; community association; Covenants Conditions and Restrictions; democracy; democratic; dispute; dispute resolution; executive session; fair election; freedom of information; GAAP; governance; governing documents; Homeowner Bill of Rights; homeowners associations; land development; Legislation, CID & POA Model & Content; legislative issues & proposals; meeting; members' meeting; members' rights; model act; nonprofit corporation; non-profit corporation; obligation; ombudsman; open meetings; planned communities; planned unit development; POA governance; POA members' rights; POA problems; POAs, general; preservation; preservation fund; private government; property owners association; property rights; proxies; proxy; proxy vote; proxy voting; public policy; reference materials & papers; reserve; reserve fund; special meeting; statement of rights; transparency; trustee; vote; voting
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December 10, 2011

AICPA Audit and Accounting Guide for Property Owners Associations

__ This was originally posted on 2005 August 27 on another blog. The links are being checked and updated.  Any links with "swagman" in the URL refer to the previous weblog and are obsolete, and most likely not available.  Some of the invalid links are shown with strike-through.

2005 August 27
Last edit: 2010 Jul 17. See History for changes and updates.
__ In 1991, the American Institute of Certified Public Accountants issued an "Auditing & Accounting Guide for Common Interest Realty Associations." All issues with the Federal Accounting Standards Board appear to have been resolved. It is Generally Accepted Accounting Principles (GAAP) for property owners associations (POAs).
__ The continuation of this post describes this Guide in successive levels of detail.
__ (edited 2010 Jul 17 and 2011 Dec 26)>>> In 2010, AICPA made the 2008 version of the Guide available for download at AICPA A&A Guide for CIRAs, but it has since apparently be removed.<<<
__ Several of the comments and replies may be of interest:
__ Your improvements on the replies are specifically requested. Other comments and questions are invited.
__ The CIRA Guide might be referred to as GAAP for property owners associations, GAAP for homeowners associations, GAAP for community associations, GAAP for condominium associations, and GAAP for condos.

Don Nordeen
==========
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  • Key Words:_ accounting; Accounting Principles; accounting standards; AICPA; AICPA Audit & Accounting Guide; AICPA Audit & Accounting Guide for Common Interest Realty Associations; CIRA; engagement; engagement letter; FASB; GAAP; GAAP for homeowners associations; GAAP for community associations; GAAP for condominium associations; GAAP for condos; nonprofit GAAP; preservation fund; reserve; reserve fund
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