SOA Budget Ratification Meeting

The Somersett Owners Association (SOA) has notified homeowners that ratification of the 2019 operating and reserve budgets will not occur at the November 19th Annual SOA Members Meeting as originally planned. A separate meeting for the purpose of ratification has been scheduled for 5:30 PM on Wednesday, November 28th at The Club at Town Center. This leaves the election of Board members as the only agenda item for the November 19th meeting. That is, except for a “Homeowner Open Forum” item as required for all SOA open meetings.

So why the deviation from the norm in not accomplishing both at the annual member meeting? Most likely the SOA messed up in not providing a summary of the proposed budget to all members at least 14 days prior to the ratification meeting as required by Nevada Law (Ref: NRS 116.31151). If this is the case, then they did the right thing in rescheduling for a later date (not to excuse their mistake) . Any impact on members? Not really, except for having to attend two meetings instead of one for those interested in doing so.

Bear in mind that the budget ratification process in merely a formality. That is, under Nevada Law it would require at least a majority (or 75% per the SOA CC&R’s) of all SOA members present at the ratification meeting to reject it. As stated in a previous post, an impossible task.

So why go to the Budget Ratification Meeting? Only if you still want to vote against ratification knowing the outcome, or espouse on a topic during the Homeowner Open Forum period. Otherwise no reason to attend!

2 thoughts on “SOA Budget Ratification Meeting

  1. I have yet to receive our mailed Financial package – perhaps the ratification should be put back to December..

    It would be helpful to understand the NRS requirements fore communicating with the owners – it seems that they are not being followed by FSR … for instance, based on the time voting papers for the “wall suit” were received by some owners (not living full time in Reno), it does not seem that they were mailed on a timely basis as laid out in the NRS.

    Reno Post Office claim that all out of town mail is aired to the destination – taking three days at most to reach the East coast.

    Perhaps we should move our association firmly into the 21st Century – and have on-line voting, coupled with finger-print authentication. Fingerprints are the holy grail of the INS!

  2. If you opted in for electronic communication/notifications, you will not have received the budget packet in the mail. If you want a hard copy, you can go to TCTC and ask for one. Everyone will receive a written statement/invoice in the mail for each of the two assessment payments.

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