Each year, a meeting of PCA members is held on the second Tuesday of January. Prior to this annual meeting, the Board adopts an operating budget to be presented for approval by the members. In addition to this, the annual meeting is held for the purpose of hearing reports from the Board and all committees and the election of new Directors. One very important report is the Treasurer’s in which an itemized accounting of the common expenses for the preceding year, together with a tabulation of the amounts collected, and showing the net excess or deficit of income over expenditures plus reserves is distributed.

In addition to the annual meeting and preparation of the budget, the PCA Board also performs these functions:

1. Manage and control the affairs of the Association in compliance with the legal requirements of the laws of the State of Illinois, the PCA By-Laws and the PCA Declaration of Covenants, Conditions, Restrictions, and Easements,
2. Designate a banking institution or institutions as depository for the Association’s funds; and the officer or officers authorized to make withdrawals there from and to execute obligations on behalf of the Association,
3. Perform other acts the authority for which has been granted herein or by law, including the borrowing of money for Association purposes,
4. Adopt such rules and regulations relating to the use of Association property, and sanctions for non-compliance therewith,
5. Appoint the members of an Architectural Standards Committee, which shall have the authority to enforce compliance with the Declaration of Conditions, Covenants, Restrictions and Easements, and with the rules and regulations established by the Association,
6. Cause the Association to employ sufficient personnel to adequately perform the responsibilities of the Association,
7. Establish committees of the Association and appoint the members thereof, and
8. Levy special assessments (not to exceed $500.00 per unit)

Contacts: president@prestbury.org or board@prestbury.org