WHY?? The payment of bills bylaw process should be updated and brought to current standards, including payments made by online means, as opposed to only by check. This is common practice today, is considered to be more secure, and will result in cost savings. In addition, we included management’s responsibly for better understanding of the process, as it works with the Association’s Purchasing policy. There are no changes to the board approval process requiring signature approvals for items over $1,000.

 

Rationale: The proposed changes would no longer list checks as the only form of payment for Association bills. Years ago, when this bylaw was written, checks were actually prepared for, and signed at monthly board meetings. Today we pay within terms to receive discounts and stay current. More and more vendors are wanting electronic payment as opposed to check payment. Electronic payment is efficient, and saves money and mailing time. Each year, the Board adopts the annual budget of the Association. Management is responsible for the purchasing function as per the Association’s Purchasing policy. As per the Purchasing policy, “The Hemlock Farms Community Association purchases are restricted to the annual adopted budget”. The Community Manager signs off and approves all payments and provides a reporting of all bill payments to the board for review. This step provides transparency and accountability for monies spent, or expensed in a given month. There are no changes to signature requirements, including the board signature requirement for items costing $1,000 or more.