Correction to Treasurer’s Article published in the October 2022 ROTR Express Newsletter
Unless a “petition to Veto” is submitted at the December RORA Board meeting the Budget passed by the majority of the RORA Board for 2023 in the December Board meeting will be in effect.
For Reference you can find this information on the rotr.org
web site under Member’s Documents & Forms
in the Ranch of the Rockies Homeowner’s Association Policies & Procedures and Rules
on pages 6-7; under Meetings Policy and Procedures (Board and Member Meetings); 2. Board Meetings; g. Annual Budget Procedure;
3. “The proposed budget shall be posted in the fall edition of the Association’s newsletter along with notification that the proposed budget will be on the agenda of the December Board meeting for consideration by the Association members. In the absence of a veto, by a majority of the Association members, the adopted budget shall become official. In the event that there is a veto by a majority of the Association members, the previous year’s budget will control expenditures, until the Board of Directors can prepare and adopt a new budget that is not vetoed.”
How is a Veto established? A “majority” (50+%) of the total RORA membership would have to present the RORA Board with a “petition to veto the budget” in the December Board meeting.
If you are so inclined I would recommend that you insure only one owner signature per lot is secured. That the name and lot number for each signature is legible. These steps would help in the validation of any such petition. If you have a petition with 740 – 751 validated signatures as defined above, contact the Ranch office and we will research the exact number needed.
FYI, the 2/3 of the RORA membership requirement is to amend the Declaration of Covenants. Sorry for the mistake.