Board Meeting no. (5/3/2024) on August 27, 2024

The Board of Directors held its meeting no. (5/3/2024) on Tuesday, August 27, 2024 at 5:00 pm at the headquarters of the Riffa Views Company, and issued its decisions according to the items below:

1. Approval of the Minutes of Meeting No. 4/3/2024 Held on July 30, 2024 

The Board approved the minutes of the previous meeting.

2. Monthly Report of the Association Manager for July 2024 

The Association Manager presented a summary of the monthly report for July 2024, which was circulated to the Board members on August 14, 2024. During the discussion, the Association Manager was tasked with the following:

- Ensure that the workers of the landscaping maintenance service provider in Oasis and Lagoon Estates adhere to a uniform dress code. 

- Contact unit owners adjacent to additional lands for sale to confirm their interest in purchasing the lands and facilitate a 24-month installment payment plan.

3. Approval of the Table of Financial Transaction Procedures and Authorities for the Association 

The Board reviewed the proposed amendments to the financial transaction procedures and authorities submitted by the members. The Board decided to cancel previous decisions and adopt the following new procedures and authorities:

1. Purchasing goods and services, issuing Purchase Orders (POs):

- Up to BHD 500: 1 quote required, open submission, PO issued by the Association Manager. 

- BHD 501 to BHD 5,000: 3 quotes required, open submission, PO issued by the Association Manager and Treasurer. 

- More than BHD 5,000: via tender, closed submission, PO issued by the Board.

2. Issuing Order to Pay: For overdue service charges, financial obligations, and penalties, two notifications will be sent, with a 60-day grace period. Payment orders will be issued by the Association Manager, Treasurer, and Secretary jointly.

3. Financial Deposits: Excess funds above BHD 100,000 in the operational and reserve accounts will be deposited by the Association Manager, Treasurer, and Chairman jointly.

4. Signing authority for contracts and disbursement documents (cheques and bank transfers): The Association Manager will sign along with two Board members the Treasurer and Chairman. In the absence of either, another Board member will substitute.

5. Issuance of quarterly service charge invoices: To be issued in the first week of January, April, July, and October.

6. Discount rate for advance payment of annual service charges: A 5% discount will be applied to the total annual service charges if paid in full by January.

4. Activation of Deferred Credit Card Payments for Service Charges 

The Board reviewed the offers submitted by National Bank of Bahrain, Ahli United Bank, and Eazy Financial Services. The Board approved the Association Manager’s recommendation to contract with Eazy Financial Services for the following reasons:

- Eazy Financial Services offers a competitive interest rate of 1.8% for all point-of-sale transactions. 

- The company provides payment via electronic links, a feature not offered by the banks.

The Association Manager was tasked with finalizing the contract with Eazy Financial Services.

5. Requests from Association Members for Board Review 

The Board reviewed requests from several Association members regarding their overdue service charges for their units in Riffa Views.

6. Final Draft of the Strategic Plan for the Board’s Third Term (2024-2026) 

The Board reviewed the final draft of the strategic plan for the third term (2024-2026). After discussion, the Board tasked the Secretary with reviewing the plan, incorporating the necessary revisions, and re-sending it to the Board members for final review. The plan will be presented at the next meeting for approval.

7. Any Other Business 

Under this item, the Board discussed the following topics:

1. The Association’s Project List: 

The Board requested the Treasurer to review the Association’s project list in coordination with the Association Manager, finalize the list, and present it at the next meeting for approval.

2. Enhancements to Main Security Gates: 

The Board tasked the Association Manager with implementing enhancements to the main security gates, including interior painting and wood and aluminum work.

3. Meeting with the CEO of the Real Estate Regulatory Authority (RERA): 

The Board tasked the Association Manager with requesting a meeting with the CEO of RERA, to be attended by Board members, to discuss efforts to finalize the approval of the Riffa Views master plan.

4. Meeting with the CEO of the Urban Planning and Development Authority: 

The Board tasked the Association Manager with requesting a meeting with the CEO of the Urban Planning and Development Authority, to be attended by Board members, to discuss efforts to finalize the approval of the Riffa Views master plan.



The meeting ended at 6:45 p.m.