Guest Jan Posted April 13, 2024 at 01:05 AM Report Share Posted April 13, 2024 at 01:05 AM Hi, Last Dec. 2023, at our annual meeting to review budget and see the new budget for 2024, the board voted on it's acceptance and it was filed with our management company. The President and Vice President announced they were stepping down midterm and they were not nominating anyone for replacement. There would have to be a vote. We voted in a new President and VP for the remainder of the 2 yr term. The new President Ihas thrown out the voted on and filed budget, spending money on things that were not budgeted for. Is this legal? It all seems fishy to me. Any advice would be grateful. Quote Link to comment Share on other sites More sharing options...
Joshua Katz Posted April 13, 2024 at 01:36 AM Report Share Posted April 13, 2024 at 01:36 AM Ordinarily, a budget does not convey any authority to spend, by itself. Your rules may modify that, though. But do your rules empower the president to spend money unilaterally? The president has only such powers as he is given by the bylaws. Quote Link to comment Share on other sites More sharing options...
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