- Canned meat, fish & soups
- Canned ready to eat meals
- Canned Vegetables & tomato products
- Peanut butter (plastic containers)
- Iron rich cereal (45% or more of daily value)
- 100% Fruit juices (48oz or less plastic bottles)
- Canned fruit (in juice)
- Dry beans (any type)
- Enriched rice or pasta
- Powdered milk
AB 2912: Association Finances
AB 2912 was created to protect the financial assets of common interest developments. This bill is meant to help protect against fraud and embezzlement. The three main aspects of this bill are: 1. To require that the association maintain fidelity bond coverage with limits that mirror the most common current lending guidelines. This is to protect the association’s reserves and operating funds from employee theft, including management employees. Every management company should have their own fidelity coverage as well. HMC’s service agreements require both to be in place for the best protection. 2. Prohibit any electronic transfers of funds without approval by the board. Current law requires that two Board members authorize payments made from reserve funds. This goes further to require that the Board approve any electronic transfers of funds, which is essential in today’s banking environment. 3. Require monthly reviews of financial statements. Current law requires the Board to review reconciled bank statements and financial statements at least quarterly: “Review”, not “approve”. This doesn’t mean the Board has to have more meetings. The review doesn’t have to be at a meeting. Looking at the bank statements and financials monthly makes good sense to us. We want the Board to be informed and up to date.
SB 1128: Board Member Elections
SB 1128 will change existing law which allows an association that is required to deliver a document by “individual delivery” or “individual notice” to deliver the email by electronic means if the recipient has consented in writing. This bill now authorizes the recipient to consent to that delivery and revoke that consent by email. In addition, this bill now requires a 28 day general notice by the association before making a new rule.
SB 1265: Director Elections and Procedures
The Senate Bill 1265 is a bill seeking to prohibit California community associations from establishing ANY qualifications for candidates running for Board of Directors. Potential qualifications could be as straight forward as stating that the candidate must be a resident owner, or that the candidate must be in good standing with the community in regard to payment of their assessments and fees. This bill would allow ANYONE to run for the Board of Directors. This is just dumb and should be opposed.
SB 1480: Manager Certification Sunset Elimination
This bill is established by the Department of Consumer Affairs, and seeks to change the rule that the boards have to meet 2 times a year with the department, instead of 3 times. Through this Senate bill, it will allow people to meet efficiently both the department and board, resolve issues and make the right solution.
California Senate Bill 1265 is a bill seeking to prohibit California community associations from establishing qualifications for candidates running for the Board of Directors. In addition, Senate Bill 1265 is attempting to add Civil Code Section 4801 which seeks to codify common interest developments the same as quasi-governmental entities, paralleling the two.
How it will affect your community association
Senate Bill 1265 would prohibit your community association from enforcing any qualifications for candidates running for the Board. These qualifications could be as straight forward as stating that the candidate must be a resident owner, or that the candidate must be in good standing with the community in regard to payment of their assessments and fees. This bill would allow anyone to run for the Board of Directors. In addition, common interest developments will be held to the same standard as quasi-governmental entities in terms of power, duties, and responsibilities, further discouraging residents to volunteer to serve on their HOA Board of Directors.
We urge you to contact your local representative and encourage them to vote against Senate Bill 1265 – link here.
Homeowners Management Company will be participating in this year’s American Cancer Society Relay for Life taking place on June 23rd, 2018 in Dublin, CA. This event is particularly meaningful to the team at HMC especially after losing their team member Tina Buxa to her long battle with cancer four years ago. This disease has impacted the lives of many on the HMC team by effecting and taking away their loved ones. HMC is proud to take action against this disease that takes away from so many.
Over the next few weeks, HMC will be fundraising for the American Cancer Society and on the day of the event they will honor the lives lost to cancer, celebrate survivors, and support the caregivers who selflessly help others. Together, with our friends and customer support, HMC will be a part of making a difference towards this important cause.
The money raised through Relay For Life events helps realize the American Cancer Society’s mission to save lives, celebrate life, and lead the fight for a world without cancer. Donations are used to fund life-saving cancer research, patient support services, prevention and education information, and detection and treatment programs.
Relay For Life provides communities with the information and tools they need to reduce their risk of getting cancer or have early detection and treatment of the disease. Individuals benefit from the progress being made toward finding cancer’s causes and cures and get access to lifesaving screenings and treatment.
HMC recognizes that every dollar raised brings us one step closer to a cancer free world where not another life is lost to the disease. You can join the HMC team in fighting cancer and support their fundraising efforts by making a donation or joining our team at http://main.acsevents.org/goto/teamHMC.
Relay For Life information:
June 23rd, 2018
Homeowners Management Company (HMC) is a full service community association management firm delivering tailored financial, administrative, and operational management solutions to common interest developments and homeowners associations in Contra Costa, Alameda, Santa Clara, Solano, and Napa counties in the San Francisco Bay Area.
A corporation’s responsibility and commitment to its stakeholders is called Corporate Social Responsibility (CSR), and it means emphasizing the good and diminishing the bad contributions companies have on the varied interests of its stakeholders. Consumers want corporations to be accountable for implementing social change among their beliefs, practices and profits. According to Business News Daily, 75 percent of consumers will refuse to buy from a company if they learn it supports an issue contrary to their own beliefs. Ultimately, employees and consumers only want to work with a company that they respect and share the same values with.
Dr. Archie B. Carroll, a business management author and professor, discusses a four-part definition to describe how companies can implement CSR in his article “The Pyramid of Corporate Social Responsibility”. The pyramid explains the essential duties a business has to its stakeholders and ways they can be implemented. The four areas that make up the pyramid are Economic, Legal, Ethical, and Philanthropic.
Economic Responsibility: Companies have the responsibility of providing investors with maximized returns. The key take-away here is companies need to be profitable by maximizing sales and minimizing costs through strategic decision making.
Legal Responsibility: Companies are responsible for obeying the law and complying to all regulations which include environmental and consumer laws, laws protecting employees, fulfilling all contractual obligations and honoring warranties and guarantees.
Ethical Responsibility: This is a company’s commitment to do what is right, just, and fair to avoid or minimize harm to their stakeholders. The responsibility is to avoid questionable practices and to assert ethical leadership.
Philanthropic Responsibilities: Companies are expected to be good corporate citizens by fulfilling their philanthropic responsibility of contributing to financial and human resources within their community to improve the quality of life. Companies have the responsibility of providing programs that support the community and to promote and engage in volunteerism.
Implementing the four areas of the pyramid into your company’s practice will ensure transparency with stakeholders while having a positive impact on society and the environment.
Homeowners Management Company (HMC) takes corporate social responsibilities very seriously and prides itself on being transparent and available to its clients. If you are interested in learning more about corporate social responsibilities, we invite you to listen to our CEO, Jason Brown and Laura Ravazza, HMC Sr. Community Association Manager discuss how to develop a corporate social responsibility program and how rewarding it can be for the company.
On Friday, January 20, 2017, The Community Associations Institute (CAI) will be hosting an Educational Luncheon, “Is Your Wish My Command? Responding to Requests.” HMC’s Laura Ravazza, who was voted CAI BayCen Chapter’s Manager of the Year, will be teaming up with Melissa B Ward, Esq. of Hughes Gill Cochrain, PC to present.
The program will discuss some of the difficult requests managers handle on a daily basis, including requests for records, lender questionnaires, and other demands by association members and directors. The speakers will provide some useful tools in managing these challenging requests, including when it’s okay to say, “No.”
We are extending this invitation to our Board Members. For those of you who are interested and have not yet registered for a CAI event, your registration fee will be waived.
The details of the event are as follows:
When: Friday, January 20, 2017 from 11:30 a.m. – 1:30 p.m. PST
Where: Crowne Plaza, Foster City: 1221 Chess Drive, Foster City, CA 94404
To Register: please e-mail Amanda Wayne: firstname.lastname@example.org
We hope to see you there!
On December 15, 2016, #TeamHMC partnered up with the CAI Cares! Committee to make a difference in the lives of families in need this holiday season. Members of our team made the trek down to the Sunnyvale, CA to the 2016 Family Giving Tree warehouse. There, we organized and bagged gifts to be picked up by social service agencies.
The Family Giving Tree was founded 25 years ago, and is the largest gift and backpack/school supplies donations program in California. As an organization, they “envision a world where every child is made to feel like a valuable part of their community through a shared belief in the power of giving,” (Family Giving Tree).
One in four children in the Bay Area lives in poverty. HMC is proud to give back to the community and participate in the Family Giving Tree’s endeavors to bring hope to those most in need this holiday season.
On September 14, 2016, we were lucky to partner up with Association Reserves and Levy, Erlanger & Company, CPAs to present, “HOA Budgeting and Reserve Studies Best Practices.”
This evening seminar covered:
- Reserve study basics
- Technology components and how to incorporate them into your reserve study
- How to understand your reserve study quickly
- Annual budgets & requirements
The discussion covered the importance of maintaining reserves and not relying on special assessments, annual provisions and accumulated liability, and using reserves for technology replacements and upgrades, such as solar panels and electric vehicle charging stations.
We discussed what a Reserve Study is: a long-term financial plan for ongoing deterioration of properties, and a budgeting tool that will help anticipate big projects and expense, as well as the purpose: guidance for a financial foundation, to sustain and improve the health of your property, insight into the condition of your property, and to avoid unexpected expenses that will dry up the reserve account. The reserve study helps the association to be proactive in planning for its future to maintain the financial health of the community.
Next, the discussion moved to the Pro Forma Operating Budget:
- Major components
- Remaining life
- Useful life
- Current replacement cost
- Component study prepared at least once every 3 years
- Cash reserves
- Percent reserves are funded
- (Under) – over-funded reserves per ownership interest
- Methods of funding
- Known or anticipated special assessments (next 30 years)
- Statement of procedures
- Accrual-basis revenues and expenses
- Summary of the pro forma budget (optional with legal/CPA guidance)
- Distribution within 30 to 90 days before the start of the next fiscal year (i.e. October 3 to December 1 for calendar yearend association)
- Penalty for noncompliance
There were a lot of takeaways from this seminar, and we are so grateful to be able to continue to provide these educational forums for our Boards. Thank you, Derek Eckert and David Levy for making this event possible!