Your board of directors holds an annual general meeting (AGM) where owners vote on major decisions. An AGM must be held within six months of the end of the corporation's fiscal year so that owners can review the financial statements in a timely manner. We typically hold our AGM in the month of June.

In advance of the AGM, the auditor must issue a report on the corporation's financial statements. The financial statements and auditor's report must be attached to the notice of the AGM. The minutes of the last AGM are also included.

A quorum of at least 25% of the units (49 Casita townhomes) is required, including proxies. A quorum is calculated by the percentage of unit owners (one per unit). If you are unable to attend an AGM but still want to have a role in the decision making process, you may wish to submit a proxy form. This gives another owner who plans to attend the meeting the power to vote on your behalf. Proxy forms are included in the AGM package provided to each unit owner (one per unit) and must be completed and returned to the Property Manager prior to the AGM.

At the AGM, there is a review and approval of the minutes of the last AGM. The President and other Directors provide a summary of key activities from the previous year. The auditor reviews their report on the corporation's financial statements.

The owners vote on the auditor to be hired for the next year as well as the election of candidates for open Board of Directors positions. The term for Board of Directors is typically 3 years. Voting is based on the number of units, not the number of owners. Each unit is entitled to one vote whether it has a single owner, two owners, or more.

There is a question and answer period for the residents to identify issues, provide feedback, get clarification, etc.