Page 16 - NY Cooperator October Expo 2019

16 THE COOPERATOR — OCTOBER 2019 COOPERATOR.COM ENGINEERING, ARCHITECTURE AND ENERGY CONSULTING Proudly Serving Higher Education Institutions WE HAVE NYC COVERED The Falcon Group is a unique, full-service Engineering, Architectural & Energy Consulting firm. Falcon’s primary focus is on existing facilities ranging from site, building envelope and energy improvements. Our full-service capabilities focus on your building’s specific needs. Falcon’s mission is to ensure each of our clients are held at the highest level of individualized service. ENGINEERING & ARCHITECTURE BUILDING ENVELOPE RESTORATION & FISP NYC SPECIAL INSPECTIONS MEP & ENERGY CONSULTING SERVICES 350 7th Avenue, Suite 2000 New York, NY 10001 www.falconengineering.com (800) 839.7740 www.automaticindustries.com 1-800-THE-WASH WOMAN OWNED COMPANY BACKED BY A LOT OF MAN POWER FAMILY-OWNED SINCE 1971 We offer a boutique style of service We are compassionate and caring to our customers While still being competitive with the “Big Box” Boyz! Offering state-of-the-art laundry rooms BOARD OPERATIONS Maintaining Proper Records Keeping a Digital Paper Trail BY MIKE ODENTHAL It is essential that a community associa- tion keep careful records of its fi nancials, run more smoothly. rules, and meeting minutes, just to name a few of the kinds of records boards and managers must stay on top of. Not solely because the law oft en requires it – al- though of course that’s important – but Act – and specifi cally has adopted the sec- because an association that fails to main- tain a complete, orderly ledger of its busi- ness is doomed to repeat past mistakes. the records of the association which must Th is is not to say that every association or be kept. Th e provisions were made appli- building needs to have a cavernous archive cable to pre-1999 condominiums, so all on-site – we’re living in a digital era, af- ter all. But knowing who needs to hold on they were formed – must comply with the to what information, where, and for how requirements of 3 through 118. long is a must. Legal Obligations While there are certainly broad guiding that all records – both required to be re- principles when it comes to record-keep- ing in a co-op, condo, or community as- sociation, specifi cs can vary based on state examination and copying by a unit owner laws. We asked a sampling of co-op and or the owner’s authorized agent during condo attorneys from across the country reasonable business hours, or at a mutu- to weigh in on what boards and managers ally convenient time and location aft er fi ve should be doing to make sure their com- munity records are properly kept and se- cured. While some of the requirements discussed may not be strictly required in forth those records that can be withheld your state, they may be worth considering from inspection and copying. Th e protect- adopting to help your building or HOA Jack Facey, partner with Facey Goss & McPhee P.C. in Rutland, Vermont “Vermont has adopted much of the Uniform Common Interest Ownership tions relating to the keeping of association records. Sections 3 through 118 deal with associations in Vermont – no matter when “Perhaps more important to condomin- ium owners is that there is now a provision tained by an association or otherwise kept by the association – must be available for days’ notice. Th e statute provides for the association to charge a reasonable fee. “Vermont’s version of UCIOA also sets See us at Booth 516 See us at Booth 307