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5.5 The Treasurer shall have custocly of all property of 1;he
Association, includir.~ funds, securities and evidences oP indebted- ~
ness. He shall keep the books of the Association in accordance
with ~ood aceounting practices; and he shall perform all other
duties incident to the office of Treasurer. The Assistant Treasur~
er, if any, sYiall perform the duties of the Treasurer when the
Treasurer is absent, and shall otherwise assi.st the Treasurer.
5.6 No compensation shall be paid to any officer of the
Association except with the approval_of a ma~ority of the member-
ship, reflected by a vote taken at a duly constituted membership
meeting. No officer who is a designee of
the Developer sha11
receive any compensation for his services as an_off~cer. Noth-
inp; herein shall be constructed so as to prohibit or prevent
the Board of Directors from employing any director or officer
as an employee of the Association at such compensation as the .
Board shall determine upon, nor shall anything herein be con-
strued so as to preclude the Eoard from contracting with a di-
rector or officer or with any corporation in which a director
or officer of
the Association may be stoclcholder, officer, di-
' rector or employee, for the management of the Condominium for
i such compensation as shall be mutually agreed between the Eoard
E .
~ and such officer or director. .
k
~ 6. Fiscal management. The ~rovisions for fiscal management of the
~ ~
Association set forth in the Declaration of Condominitun and Articles ot
Tncorporation shall be supgl.emented by the i'ollo~ring provisions:
6.1 Accounts. The receipts and expenditures of the
Association shall be credited and charged to accounts ur~ier
~ the following classifications as shall be approprl~a~e, all of
which exper.dltures shall be common expenses:
~ (a) Current expei~ses, which shall includc all
~
~ receipts arxl expenditures within th~ year for which
~ ,
~ the budget is made, includin~ a reasonable allow-
ance for contin~encies and taorl:ing funds, except
expenditures chax~~eable t~ reserves, to add:ltional
aooK~y~
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L%\': UF'F~ICES OF GOLDSTCiH. FRANKLIN, CttGNI'J 9 SGfiItA':t: i' A.. ?O:O t1QIt1ltE~.S1 IG3H:~. S1iaFlT. NOR1N MIAMI [?EaCH. FLQRIL)a 711~~:'. ~
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