Info Bytes 01.27.22
CIC Info Bytes are frequent, succinct updates that provide educational and engagement opportunities to help your community thrive! Subscribe to receive CIC Info Bytes updates by email. Join us on Reddit at r/HOA.
ISSUE # 12
CIC Info Bytes 01/27/22
CIC Info Bytes are frequent, succinct updates providing educational and engagement opportunities that help your community thrive! Please forward and share this newsletter with your peers, neighbors and colleagues so they can connect and join .
Our goal is to curate content that provides a robust basis for contextual understanding to support practical takeaways for you and your association. This bi-weekly newsletter is packed to the brim. We've done our best to create meaningful section breaks and incorporate engaging visuals. When in doubt, Ctrl + F!
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What's New
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CAI EXCHANGE
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Reserve Investing - Can CICs invest in US Government debt if their governing documents require FDIC insurance coverage (available up to $250,000 per financial institution (including CDs invested at unique institutions)???
- Both FDIC insurance AND US Government debt (Treasury Bills / Bonds / Notes) are backed by the same source (the full faith and credit of the United States Government), The intent? Guaranteed return of principal.
- Some statutes require "income earning" accounts
- Two reserve investing resources published on the Reserves Page
- Reserve fund policy
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Anonymous Complaints and Due Process - A zinger! A few tidbits you might enjoy:
- Anonymous complaints that cannot be readily substantiated should not be addressed by an association. These are often "neighbor to neighbor" disputes.
- In WA State, CIC record-keeping, disclosure and due process statutory requirements = complainants cannot remain confidential. There is generally no basis for a violation hearing where the accused is not entitled to know their accuser and/or obtain information via a records request
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Surveillance - Someone's watching...
- Cameras in common areas
- Third-party surveillance monitoring
- Multi-Family Property Security Tips / Read Me
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- Want an example? See Page 5 of our example rules
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+++ Have a question that you'd like to ask directly to your peers? Ask YOUR listserv! +++
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