Canyon Lake homeowners elected Bill Van Vleet and Greg Doherty to service on the 2022/2024 Property Owners Association Board of Directors.
The Annual Meeting of the Members and Election of Directors was adjourned on Thursday when a quorum was not met. One-third of the voting power (1,600 out of 4,800 ballots) was required to meet quorum.
The adjourned meeting was held on Saturday and, with a quorum met, the results of the election were announced. Bill Van Vleet received 1,014 votes, Greg Doherty received 788 votes, Tony Schwarzman received 485 votes, Alexis Prince received 418 votes, Kalon Morris received 181 votes, Carl Gardner received 35 votes, and Rita Bendlin received 21 votes.
Immediately following the announcement of the results, the five directors appointed their board positions: Renee Griffiths, president; Tim Cook, vice president; Brian Bock, secretary; Bill Van Vleet, treasurer, and Greg Doherty, director.
The IRS Revenue Rule 70-604 Ballot Measure passed with 1,325 in favor and 79 against.
IRS Revenue Tax Ruling 70-604 allows associations to avoid a tax consequence on any inadvertent excess member income that is applied to the following fiscal year assessment when filing a tax return Federal Form 1120. Though the POA recognizes three options for application of excess income, ((1) refund to the membership, (2) apply to the following year’s assessments/operational budget, or (3) apply to the reserves) this ballot measure only pertains to the option of applying excess income to the following year’s assessment.
The five directors of the board are collectively responsible for the management and operation of the POA’s business affairs. Directors are elected for staggered two-year terms by Canyon Lake homeowners. The board works closely with the POA’s Corporate Department to ensure that POA duties and responsibilities are being carried out. The entire board can be emailed at [email protected].
