Fairway Canyon Community Assoc

“The association uses the services of firstservice residential to handle day to day operations of the development including collections, bill payments, homeowner assistance, etc. The board has the ultimate responsibility for authorizing payments, selecting vendors, and approving the budget.”

“Upon purchase of a home within the development, each owner becomes a member of the association.”

“The board of directors are voted upon by the membership at an annual meeting which requires a quorum of 50% of the 1,215 voting members. Board members serve a 2 year term and come up for election in alternating cycles.”

“Dues increases in excess of the 20% allowed by the davis-sterling act are subject to the approval of the membership. Special assessments in excess of 5% of the budget are also subject to membership approval.”

“Upon preparation, the association's board of directors is provided with a copy of form 990. After reviewing the return, a board member signs as the board representative and files the return.”

“The association retains the services of a management company to monitor board activity and document the minutes of the board meetings. The management company provides the membership with candidate information in conjunction with election meetings.”

“Upon purchase of a home within the development, each owner receives a copy of the association's governing documents through escrow. Copies of the conflict of interest policy and financial statements are available upon request.”

“Administrative 0 241,398 0 fiber optic system 0 450,510 0 total 0 691,908 0”

“Rec facility staff 199,821 0 0 major repairs & replaceme 107,187 0 0 total 307,008 0 0”