HOA Committee Charters

Committees serve an invaluable role in assisting the board. They allow owners to participate on focused issues without committing to years of service on the board. Each committee appointed by the board should have a written charter or marching orders which defines expectations. Here is a sample charter which can be adapted to other committee functions.

Nottacare Condominium

Budget Committee Charter

I. Purpose

The primary functions of the Budget Committee are to assist the board of directors in fulfilling its financial oversight responsibilities with respect to budgeting, finance and accounting procedures. The Committee will encourage continuous improvement of and adherence to financial policies, procedures and practices.

The role of the Committee is oversight. It is not the duty of the Committee to conduct audits or to determine whether the financial statements are complete, accurate and in accordance with generally accepted accounting principles. These are the responsibilities of independent auditors.

II. Organization

The Budget Committee shall be comprised of three or more members of Nottacare Condominium as determined by the Board of Directors.

III. Term of Office

Committee Members shall serve for one year subject to renewal by mutual agreement of the member and the board.

IV. Meetings

The Budget Committee shall meet on a quarterly basis, or more frequently as circumstances require.

V. Responsibilities and Duties

To fulfill its responsibilities and duties, the Budget Committee shall: