The affairs of the Franklin Station Homeowners Association is governed by a Board of Directors. The Board must reside in the Community. The Board consists of three (3) members. Board members serve two-year terms. Two members are elected by the HOA in odd years and one member is elected in even years.
The Board is responsible to prepare a budget covering the estimated costs of operating the Association during the coming year, which shall include a capital contribution or reserve in accordance with a capital budget separately prepared. The Board will publish the budget and assessments (dues) at least thirty (30) days prior to the end of the current fiscal year. The budget and the assessment shall become effective unless disapproved at a meeting by a majority of the total Association vote. The fiscal year runs from 1 January to 31 December.
The Officers of the Franklin Station Homeowners Association are the President, Vice President, Treasurer, and Secretary. Any two (2) or more offices may be held by the same Person, excepting the Offices of President and Secretary. The President and Treasurer shall be elected from among the members of the Board of Directors.