Week by Week: March 21
March 21, 2016 — Fixing buzzers and reading the management report: the newest stories from our app dig into the details of board service.
Lauren Itkin had such a miserable time at her admissions interview that she swore she would never serve on the co-op's board. Eighteen years later, when the board president died, she renounced her vow and joined the board. Now she's glad she did. Board service gave her a chance to fix chronic problems in the building, like a terrible failure of an intercom system.
Our second story addresses another chronic problem at many buildings: boards' tendency to ignore the monthly management report, arguably one of the most important documents no one reads. CPAs and managing agents say this monthly review is crucial to the financial health of a building – so why does hardly anyone acknowledge it?
In Week by Week, we delve into Itkin's adventures on her board, and we explain why the monthly management report is one document you can't afford to ignore.
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