2024 Annual Meeting & Election of Directors
The Canyon Lake POA has a five-member Board of Directors who are collectively responsible for managing and operating the Canyon Lake POA’s business affairs. The Board of Directors are elected for staggered two-year terms by Canyon Lake homeowners. The Board of Directors works closely with the Canyon Lake POA’s Corporate Department to ensure that Canyon Lake POA duties and responsibilities are being carried out. Annual Elections are held in May of each year for Board Directors.
2024 Ballot Measures
Restrict Future Sales of Common Areas
Restrict Future Sales of Common Areas
A majority vote to approve this measure would result in the Board not being able to sell common areas without the approval of the owners, who must constitute a quorum and vote in the majority at a meeting or election conducted in accordance with California law and Canyon Lake POA governing documents.
Board Terms
Board Terms
Efficient operations are significantly hindered by annual changes in the board. This measure was placed on the ballot as an option to address this issue and add stability in the Canyon Lake POA’s governance. If approved, the amendment would establish 4-year terms with a 2-year waiting period for Board members starting from the 2025 Annual Meeting & Election of Directors. Subsequent elections would then occur every two years, fortifying governance tenure, establishing stability within the Canyon Lake POA organization, lessen the presence of election signs, and reducing costs by 50%. The community would only see and experience election signs and campaigning every other year instead of every year.
IRS Revenue Rule 70-604
IRS Revenue Rule 70-604
The 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 (FY) assessment when filing a tax return Federal Form 1120. This IRS Ballot Measure is considered an annual industry standard to allow for clear tax filing authorization should the Board decide to apply excess income to the following year’s assessment.