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Board Committees
Section IX.1 of the Association’s Amended
Bylaws for Reston
grants the Board of Directors the right to establish,
by resolution, Board Committees, comprised of Directors
and such staff and Members as it deems appropriate,
to assist in the work of the Board of Directors. These
Committees do not have any authority of the Board of
Directors unless specifically delegated by any resolutions
adopted by the Board of Directors.
The Board currently has four such committees:
• Board Administration
Committee (BAC)
• Planning & Evaluation
Committee (P&E)
• Fiscal Committee
• Legal Committee
Each May Board Directors are appointed by the President
to serve, for a year, on one or more of these Committees.
Responsibilities:
i. Board Agenda Development. Assists the Board President
in drafting the Regular Board Meeting Agendas.
ii. Design Review Board and Committee Appointments.
Interviews and forwards to the full Board of Directors
recommendations on candidates for appointment to open
positions on the Design Review Board, Covenants Committee,
Elections Committee, Board Advisory Committees, and
any other Special Committee established by the Board,
in accordance with Committees Resolution 2 and Design
Review & Covenants Resolution 1.
iii. Advisory Committee and Special Committee Chair/Co-Chair
Appointments. In January of each year, interviews and
forwards to the full-Board of Directors recommendations
on candidates for appointment to fill Advisory Committee
Chair/Co-Chair positions, in accordance with Committees
Resolution 2.
iv. Advisory Committee Work Plan/Project Proposal Review.
In March of each year, reviews work plans submitted
by Advisory Committees prior to such work plans being
submitted to the full-Board of Directors for consideration
and approval. Also, reviews any new proposals or projects.
v. Advisory Committee Structure Review. In accordance
to the Section IX.2, in December of each year, reviews
the existing Advisory Committees to determine whether
to recommend to the full-Board of Directors termination,
continuation, or the addition of new Advisory Committees.
vi. Design Guideline Amendments. Reviews any proposed
Design Guideline amendment(s) in accordance with Design
Review & Covenants Administration Resolution 4.
vii. Resolution Establishment & Amendments. Review
any new or proposed amendments to policy, rules, regulations,
and standards Resolutions.
viii. Review of Special Requests Regarding the Use
of Common Area & Residential Property. Reviews
and conducts hearing on special request made by Members
or other groups regarding the use of the Association
Common Area and or residential property included but
not limited to lake use requests, recreational facility
requests, and hunting requests.
ix. New Matters. Review any new matters such as recommendations
for new policies, projects, initiatives, or other issues
that may be forwarded to the full Board of Directors
for consideration as may be determined by the BAC.
Committee
Composition:
The President, Vice President, three other Directors,
Chief Executive Officer, and Director of Administration & Member
Services.
Meetings: The
BAC generally meets the second Monday of the month
at 7:00 pm.
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Responsibilities:
i. Reviews contractual, legal and or operational issues with the Chief Executive
Officer (CEO).
ii. Serves as a sounding board for new programs, policies, or initiatives that
may come before BAC, as may be determined by the P&E.
iii. Monitors the implementation of the Association’s multi-year Strategic
Plan.
iv. On an annual basis, conducts the CEO evaluation and recommends appropriate
personnel action to the full Board of Directors.
Committee
Composition: The President, Vice President,
Secretary, and the Chief Executive Officer.
Meetings: The P&E generally meets the second
Monday of the month at 6:15 pm or at the call of
the President.
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Responsibilities:
a. Review of RA Assessment & Financial Resolutions. At the Direction of the RA Board of Directors, review
existing Assessments and Financial Resolutions adopted
by the Board of Directors and suggest new Resolutions
for adoption by the Board of Directors.
b. Budget Review. In accordance with Assessments & Financial
Resolution 1 on Biennial Capital & Operating Budget,
participate in public meetings held to receive information
on the budget preparation process as presented by the
CEO and provide comments on proposed budget as prepared
by the CEO during public hearings held prior to the
Board’s adoption/consideration of the budget.
At the sole discretion and request of the CEO, the
Committee may assist in evaluating or investigating
specific budgetary issues.
c. Insurance. Conduct an annual review of the Association’s
insurance programs and report its findings to the Board
of Directors.
d. Investment Policy Review. Periodically reviews,
with the Association's Investment Manager, RA's investment
policy and the state of RA's investments. As well,
the Committee will make recommendations for changes
to investment strategy, as needed.
e. Internal Control. Evaluate the need for an audit
of the Association’s system of internal controls.
i.
Use evaluation to make a recommendation to the RA Board
of Directors as to whether such an audit is warranted.
ii. If the RA Board of Directors agrees that an internal
control audit is necessary, then the Committee shall,
as per Assessments & Financial Resolution 8, recommend
to the RA Board of Directors an independent Certified
Public Accountant (“CPA”) who shall conduct
an audit of the Association’s system of internal
controls.
iii. Understand the scope of the auditor's review of
internal control over financial reporting, and obtain
reports on significant findings and recommendations,
together with management's responses.
iv. Report the results of the internal control audit
to the RA Board of Directors, and recommend, based
on results of the initial internal control audit, the
frequency of future such audits.
f. Annual Audit.
i. Recommend,
as per Assessments & Financial Resolution
8, to the RA Board of Directors an independent Certified
Public Accountant (“CPA”) who shall prepare
an annual report and render an opinion on the Association's
books and records of accounts.
ii. Oversee the annual audit engagement by:
1. Pre-Audit
meeting with the auditor to discuss:
a. The audit
scope and any areas of special interest to be examined.
b. Obtain a formal written statement from the auditors
as to their independence.
c. Instruct the auditors that they are responsible
to the Board of Directors.
2. Post-Audit meeting
with the auditor to discuss:
a. Any audit findings
or audit adjustments.
b. Review of the draft financial statements and
accompanying footnotes.
c. Evaluate the cause of significant variances
from the previous year.
d. Any management or Board issues noted by the
auditors during the engagement.
e. Any operational or other issues of importance.
3.
Review the performance of the auditors.
4. Report to the RA Board of Directors at the Annual
Board Meeting the results of the Audit Committee’s
review and oversight of the audit engagement in
conjunction with the independent auditor's presentation
of the financial statements and audit opinion.
Committee
Composition : Treasurer; Chief Financial
Officer who shall serve as an ex officio member;
one RA Board Director who shall serve as an ex-officio
member; and up to five Members with financial experience,
as described below, appointed by the RA Board of
Directors, four of whom should be a resident of a
different district. The terms of the Board appointed
Committee members are for two years, staggered so
that at least one Committee member is appointed or
reappointed each year.
Committee Contacts
Members being considered for appointment to the Fiscal Committee must possess
the following qualifications:
a. At least one Committee member should be a practicing
or retired certified public accountant with significant
experience with not-for-profit membership organizations
of similar size as the Reston Association.
b. The remaining Committee members are to be “financially
literate”. More specifically, they must have
either: a bachelor’s degree in accounting or
business administration; or three to five years financial
or accounting experience; as well, Committee members
should be able to read and understand not-for-profit
financial statements sufficiently to recognize when
the information or numbers do not make sense.
Meetings:
The Fiscal Committee generally meets the third Monday
of the month at 5:30 pm.
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Responsibilities:
i. On behalf of the Board of Directors and the Association, decides all proposed
enforcement actions, imposition of sanctions and filing of legal proceedings,
subject to the Board of Directors approval.
ii. Has the power to: (a) impose reasonable charges upon; (b) suspend the right
of use of Common Area, facilities, services or participation in programs; and
(c) issue a cease and desist request to, an Occupant, an Owner, such Owner's
tenant, and such Owner's (or tenant's) household, guests, employees, agents,
and invitees whose actions are inconsistent with the provisions of the Association
Documents, Maintenance and Use Standards, or the Rules and Regulations.
Committee
Composition: The President, three
other Directors, and the Chief Executive Officer.
Meetings:
The Legal Committee meets at 7:00 pm the second Wednesday
on the following months – September,
November, January, March, May and July.
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