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Our Treasurer has her condo up for sale. Our community needs many repairs but we don't take in enough dues to pay for any repairs. We want to raise dues $30 per month and get the repairs done over a 5 year period. The Treasurer wants an assessment of $1500 because she thinks a dues increase would affect her sale. This seems like some kind of conflict of interest and we all think she should recuse herself from voting since her interests lie in the sale of her condo not the interests of the community. There is nothing in our bylaws about this. A $1500 assessment would place a hardship on many owners. Opinions please. Thank you.
Join the Conversation Comments (3)
Completely agree with Marty. This is a clear conflict of interest.
If the rest of the board votes for the dues increase then her position is moot. If your association has an attorney you use for legal matters, ask her/him for an opinion in writing. That might sway the treasurer.
The Board should discuss with its attorney whether the Treasurer is conflicted. Every time the Board votes on financial matters, especially the balance between assessments and dues/monthly increases, the vote affects each Board member. There is no right or wrong here, and the fact that one solution is in a Board Member's own interest doesn't necessarily create a disqualifying conflict. In fact the alternative solution is probably in other Board member's interests.
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The treasurer needs to recuse herself due to the conflict of interest. No way should she be allowed to vote, regardless of what the rest of the Board decides as a course of action.
Do whatever is best for the community.
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