Condo directors are individuals elected by owners of the condo corporation. All directors are officers of the condo corporation.
The Condo Act requires that a Condo Board be comprised of at least three officers; President, Secretary and Treasurer. Some Condo Boards may choose to combine these roles. For example, the President may also serve as Treasurer. Only the President must be elected by owners.
The Condo Board can appoint additional officers to fulfill specific functions.
Corporation by-laws may require more officers than the minimum specified in the Condo Act.
President – The President’s role is to supervise the business of the condo corporation. They establish the agenda for the Condo Board. An effective President is a motivator, organizer, planner and driver of the condo corporation. They are prepared to tackle difficult issues for the betterment of their condo corporation. The President should inspire the Condo Board to adhere to the corporation’s rules and declaration, and to comply with the Condo Act and local laws. They communicate with building residents and owners, and advocate on behalf of the condo corporation.
Vice President – The Vice President may perform some of the duties of President. When the President is absent, the Vice President would fill in.
Treasurer – The Treasurer is responsible for the finances of the condo corporation. The individual in this role is responsible for ensuring financial statements are accurate, budgeting is done properly and in a timely manner, and the reserve fund is sufficient for the needs of the condo corporation.
Secretary – The Secretary is the custodian of condo corporation records. At a minimum, these records are comprised of meeting minutes and notices sent to residents for the annual general meeting.
It is the Secretary who takes minutes during board meetings. Meeting minutes are the official record of board meetings; a critical part of condo governance. Without minutes for a board meeting, there is no official record of that meeting taking place. Without accurate minutes, actions of the board can be questioned by any member of the condo corporation.