The Board is the outward-facing representative of the Nyland Community Association, NCA, which is a Colorado corporation. The Board represents the corporation NCA in financial, legal, and insurance areas. This means that the Board is responsible for maintaining the corporation by making sure there is enough money to run daily, yearly, and future operations; for proposing budgets, paying bills, and managing money accounts, including investments; and for overseeing the reserve funds, which is money put away for projected future expenses. The legal responsibilities mean that the Board consults with lawyers around issues affecting the legal status of the community, including questions about our founding documents, the CC&Rs, and how to revise them, as well as making sure we are in compliance with state and federal laws pertinent to HOAs. The Board is also responsible for making sure our state and federal taxes are paid; the Board uses an accountant to help manage finances and taxes. The Board must maintain adequate insurance policies covering all commonly held assets, such as the common house and land, as well as the exteriors of all Nyland homes (roofs and exterior walls). The Board’s insurance responsibilities also include adequate coverage for liability for injuries that visitors may incur on Nyland property.