In a couple of months several shareholders may begin to think about running for a position on our Board of Directors. It is a wonderful opportunity to serve our community. However, the position requires a person who is able to work cooperatively with colleagues who may have opposing views. Every member of the Board has his/her own philosophy and agenda. To be truly successful, elected officers must have the interest of our shareholders as their highest priority.
As a Board member, it’s important to support your own belief, and not submit to the urge of voting for the issue that is most popular. Candidates should remember their motivation to serve and their specific goals. Some potential Board members have as a priority the desire to reduce costs while others want to maintain North Shore Towers as a luxury cooperative. These opinions are not always compatible, but members have to respect each other’s ideas and accept the fact that, in a democracy, majority rules. There are no good guys or bad guys, just Board members with different opinions.
When discussing a major issue each Board member has the obligation to present his/her opinion forcefully and comprehensively. After everyone is heard a vote is taken and that decision determines how the Board will act on an issue. Every expenditure or new regulation must be approved by the Board. Lesser issues are usually determined simply by arriving at a consensus of the Board. Individual members of the Board of Directors have but one vote in the boardroom. With a nine person Board, five members constitute a majority. Checks can only be written when the Board votes to approve proposals on the budget, capital projects and contract renewals. The Board, not management, has the final authority on all matters.
As a member of the Board of Directors you have the equivalent of a full-time job. You are on call for special meetings and if there is an emergency or special event there is an unwritten law that you’re expected to be present. Well meaning residents will frequently call you or seek your attention while you’re in the gym, arcade or restaurant. You will hear their suggestions and personal concerns. Most often, the issue raised should more appropriately go to the management office and this causes a degree of frustration for Board members. Tolerance of complaints is an attribute shareholders should posses if they plan to run for the Board.
As a member of the Board of Directors, if elected, you will be in charge of a Board committee. You unilaterally select the members of your committee and meet with them the week prior to the regular Board meeting. In the role of committee chairperson, you are required to inform the Board of the opinions of committee members and also give your recommendation on every issue. Only the elected Board is empowered to make the final decision on all proposals. Obviously, there are times when individual Board members do not get their recommendations approved. This can also be frustrating.
All members of the Board of Directors receive a comprehensive agenda prior to every meeting. It’s normal for a person to take a position on items before participating in the discussion on the specific agenda item. It’s vital to hear the full discussion, since specific data and opposing opinions may convince the Board member to reconsider his/her vote. A “knee jerk” reaction is not a characteristic of a responsible elected official. Doing the “right thing” is more important than receiving the approval of your friends and acquaintances.
We are blessed with community members who have a host of technical and intellectual talents. Serving on our Board of Directors is time consuming and, though some issues may be troubling, it can also be rewarding. Even though several of us are running for re-election, we look forward to the campaign and the opportunity to discuss the ideas of each candidate. Suggestions and debate serve to improve our decision-making process. This is the time shareholders should be thinking about “throwing their hat into the ring.”
Bob Ricken
President
North Shore Towers Board of Directors
