What’s an AGM?
AGM stands for ‘Annual General Meeting’. That alone tells you a little bit about what they are:
- they happen once a year
- everyone is welcome
- they are formal meetings
All kinds of organisations have AGMs, so don’t forget that acronym! In most cases, AGMs are formal meetings with agendas and minutes, meetings that are required by law and that need to have proper documentation. At the same time, an AGM is not a closed meeting. An AGM will certainly be open to the full membership of an organisation and it may be open to the public, as well. However, it will have some structure to it, and the issues that are discussed and the main points that are made will be noted in the minutes. It’s an ‘on the record’ situation.
How To Find Out About It
When it comes to your owners’ corporation, the Annual General Meeting is required by law, and the law requires that every owner must be informed in writing at least 14 days before the AGM. Most owners’ corporation AGMs are scheduled near the end of the fiscal year, for convenience in financial reporting. So, you should receive a letter, newsletter, e-mail or flyer with the AGM date, time and venue at approximately the time of year when they usually take place. The announcement may also include an agenda, financial statements, a proposed budget for the coming year and other useful information. Look out for it, and be sure to file any information that’s included. You may want to refer back to it later.
Why You Should Go
If you’re able to make it to the AGM, it’s always a good idea to attend. Many of us feel that we’ve already got too many meetings scheduled into our days, and attending yet another one can seem like an imposition. However, it’s best not to be in the dark about the common property. Think of it this way: you are a partial owner of the entire development. Even though you probably don’t directly control anything but the interior of your unit, It is your building or your neighbourhood and you are a partial owner. Are you going to let all the important decisions be made without your knowledge or consent? If you do, you might find yourself with a lot of unexpected complaints.
As your owners’ corporation manager, The Knight Alliance will be represented at the AGM. You should be there, too. We’d like to see you, shake your hand and hear your ideas. You’ll have an opportunity to talk with your neighbours about important issues that concern all of you. You’ll have a chance to listen to what others say, and you’ll be able to express your opinions and raise issues. In the coming year, you’ll know what to expect when it comes to maintenance of the common property and owners’ corporation fees, and you’ll know how and why those decisions were made.
Be active in your community and attend the AGM. We’ll see you there!