2023 AGM and Budget Ratification Process?
I understand that the Board Approved Budget Automatically ratifies unless there is a negative vote of the majority of the ownership. Historically, our AGM never reaches the threshold to actually vote on ratification. Last year that changed. We had 55% represented at the AGM. One could argue that the 2023 budget was not ratified because the ownership was not given the opportunity to vote it down. I don't see a 2024 budget ratification vote on the agenda for this year's AGM. I expect the AGM will be as well attended as last year. I agree with Rob Weston that the likelihood of voting down the budget was low, but I think the vote protects from any legal challenge. Please add a ratification vote to the agenda pending a majority quorum.
Also, why is the in-house reserve study not included in the AGM package? That is necessary to make a proper decision whether to approve a 3% dues increase and 40% rental fee increase. Since we are currently projected to be 9% under budget this year after last year's 46% increase, I'm not sure we need to increase dues at all.
That was just my way to bump the thread. They fade as other posts are made. Now that I have your attention, does the board have a position on actually taking a ratification vote at the AGM if greater than 51% of the ownership is present. While largely procedural, the vote would be quick. I think the parliamentarian was incorrect last year when he said the vote would be infeasible. That's not how the democratic process is supposed to work. The vote serves as a way for the association to communicate it's will to the board. A closely split vote should make the board more mindful of the entire community as a whole and the decisions you make on our behalf.