Financial Accountability

•                Maintain Concordia’s financial stability keeping maintenance increases to a minimum.

•       Report financial status at all Open Board meeting (how we are doing budget vs. actual), and post quarterly budget/actual reports on the Concordia website.

•       Post quarterly budget/actual reports on the Concordia website.

•       Ensure all vendor contracts are put out to bid and with the decision based on cost, quality and deliverables.

   

• Ensure all vendor contracts are put out to bid and decision based on cost, quality and deliverables

• Discuss with other 55+ communities their experiences with vendors bidding on contracts

• Ensure all new and renewing vendor contracts have performance criteria, where appropriate

• Evaluate feasibility of appointing a resident(s) for each major vendor (e.g., landscaping, security, cable, sprinklers) to work with the Board liaison and Executive Director and report on each vendor’s performance to the Board

• Review contracts to ensure Concordia is getting the best deal possible

• Institute RFP (Request for Proposal) process for vendor contracts and major purchases, where appropriate

• Advise residents when RFP is issued, who won bid and rationale for decision