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--- policy_documents:board_policy_manual:section_2 [2025/04/22 05:59] – Add 2.5.6 & 2.5.6.1 related to strategic plan, and 2.57 & 2.5.8 related to carrying charges and stabilization; er board approva 4/21/2025 hojosparks
+++ policy_documents:board_policy_manual:section_2 [2025/04/22 06:45] (current) – hojosparks
@@ Line 16: / Line 16: @@
   -**2.1.3** Allow residents to be uninformed or misinformed about Cooperative Identify, Values and Principles, and their rights and responsibilities as cooperative members and as residents.
     -**2.1.3.1** Operate without a written policy on member relations, including rights and responsibilities as cooperative members and as residents.
+  -**2.1.4** Cause or allow conditions that leave members unaware of the process for setting the annual budget and member carrying charges.
+    - **2.1.4.1** Operate without a written and accessible policy on the Annual Budgeting Process, fail to share this policy with all members, or fail to facilitate at least one annual opportunity for members to learn about and provide input on the co-op’s budget.
+    - **2.1.4.2** Operate without a written policy outlining the expectations and procedures regarding the setting and stabilization of carrying charges (a “Charge Stabilization Policy”), or fail to share this policy with all members.
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@@ Line 101: / Line 104: @@
   - **2.7.3** Operate without proper risk management and appropriate insurance toward continuous operations, services and property.
   - **2.7.4** Allow unbonded personnel access to material amounts of funds.
-  - **2.7.5** Allow inadequate security of cooperative premises and property and reasonable protections for member personal property.
+  - **2.7.5** Allow inadequate security of cooperative premises and property or fail to provide reasonable protections for members' personal property.
   - **2.7.6** Make any asset purchase:  (a) wherein normally prudent protection has not been given against conflict of interest;  (b) without having obtained comparative prices and quality;  (c) without a stringent method of assuring the balance of long term quality and cost.
     - **2.7.6.1** Exception: emergency purchases.
   - **2.7.7** Allow improper access to data, intellectual property, and information or files to be unprotected from loss, theft or significant damage.
     - **2.7.7.1** Allow improper usage of members’ personal information.
   - **2.7.8** Receive, process or disburse funds under methods that are insufficient to meet the GAAP standard for internal controls.
   - **2.7.9** Allow investments or operating capital to be held in insecure or uninsured instruments or unreasonably risked.