Annual and Board Meetings
Every association in Virginia is required to have at least an annual membership meeting each year. This is directed by the association's governing documents. At the annual meeting, the owners elect members to the board of directors. They also receive reports from the board regarding the accomplishments in the year since the last meeting and plans for the future year. Financial reports and the budget for the upcoming year are also presented. Advance notice to the owners is dictated by the governing documents.
Associations may have monthly, by-monthly, quarterly, or semi-annual board meetings. The main purpose of a board meeting is to conduct the business of the association; approve prior board meeting minutes; review the financial records compared with the operating budget; review the need for any additional policies, rules and regulations; address any concerns of the homeowners; review and approve contracts and proposals; etc.
There are three types of meetings in Virginia: regular board meetings, working sessions and executive sessions. Owners are invited to attend the regular board meetings and working sessions. However, in a working session, owners are not allowed to ask questions or comment. Generally, there is a specific purpose why the board schedules a working session meeting. Executive sessions are not open to owners or visitors. These meetings are only for the purpose of discussing delinquencies, contracts and legal issues.