Irvine Ranch Water District Improvement Corporation

“A copy of the organizations form 990 tax return is distributed to the governing board of directors for approval prior to its filing. This formal approval is documented in the minutes of the board of directors meetings and is a required procedure.”

“The organization has a formal conflict of interest policy.the five district board of directors are required to be the five members of the corporation's board of directors. All members of the board of directors of the organization are required to sign this conflict of interest policy on an annual basis. The organization monitors this conflict of interest policy by enforcing its implementation as policy to members of the board of directors.”

“Copies of the governing documents, policies and procedures and the annual federal and state exempt tax returns are available to all members of the organization as well as to the general public upon a request made to the treasurer of the organization.”

“Client Note 1 - STATEMENT NO. 1FORM 990SCHEDULE LPART IV DINDIVIDUAL'S COMPENSATION BY RELATED ORGANIZATIONSEMPLOYEE NAME: ROBERT JACOBSONRELATED ORGANIZATION: IRVINE RANCH WATER DISTRICTFEIN: 95-2232918RELATIONSHIP EXPLANATION: IN AUGUST OF 1986, IRVINE RANCH WATER DISTRICT FORMED THE IRVINE RANCH WATER DISTRICT IMPROVEMENT CORPORATION FOR THE PURPOSE OF FINANCING WATER, SEWER AND OTHER PUBLIC IMPROVEMENTS. IN THE PRIOR YEAR THE CORPORATION'S ONLY TRANSACTIONS WERE RELATED TO THE DEBT SERVICE PAYMENTS ON THE OUTSTANDING 1986 CERTIFICATES OF PARTICIPATION. DURING THE YEAR ENDED JUNE 30, 2010, THESE 1986 CERTIFICATES OF PARTICIPATION WERE PAID OFF BY THE IRWD IMPROVEMENT CORP. THE FIVE DISTRICT BOARD OF DIRECTORS ARE REQUIRED TO BE THE FIVE MEMBERS OF THE CORPORATION'S BOARD OF DIRECTORS. THE IRVINE RANCH WATER DISTRICT ACCOUNTS FOR THE CORPORATION'S ACTIVITIES IN SEVERAL IMPROVEMENT DISTRICTS. THE CORPORATION DOES NOT ISSUE SEPARATE FINANCIAL STATEMENTSCOMPENSATION PAID; $192,304DEFERRED COMPENSATION $ 42,152COMPENSATION ARRANGEMENT EACH BOARD MEMBER IS PAID DIRECTLY BY THE IRVINE RANCH WATER DISTRICT FOR ALL SERVICES RENDERED. ALLOCATION OF THE TIME SPENT APPLICABLE TO THE IRVINE RANCH WATER DISTRICT IMPROVEMENT CORPORATION BY THIS OFFICER IS ONE HOUR PER WEEK.EMPLOYEE NAME: LESLIE BONKOWSKIRELATED ORGANIZATION: IRVINE RANCH WATER DISTRICTFEIN: 95-2232918RELATIONSHIP EXPLANATION: IN AUGUST OF 1986,IRVINE RANCH WATER DISTRICT FORMED THE IRVINE RANCH WATER DISTRICT IMPROVEMENT CORPORATION FOR THE PURPOSE OF FINANCING WATER, SEWER AND OTHER PUBLIC IMPROVEMENTS. IN THE PREVIOUS YEAR THE CORPORATION'S ONLY TRANSACTIONS WERE RELATED TO THE DEBT SERVICE PAYMENTS ON THE OUTSTANDING 1986 CERTIFICATES OF PARTICIPATION. DURING THE YEAR ENDED JUNE 30, 2010, THESE 1986 CERTIFICATES OF PARTICIPATION WERE PAID OFF BY THE IRWD IMPROVEMENT CORP. THE FIVE DISTRICT BOARD OF DIRECTORS ARE REQUIRED TO BE THE FIVE MEMBERS OF THE CORPORATION'S BOARD OF DIRECTORS. THE IRVINE RANCH WATER DISTRICT ACCOUNTS FOR THE CORPORATION'S ACTIVITIES IN SEVERAL IMPROVEMENT DISTRICTS. THE CORPORATION DOES NOT ISSUE SEPARATE FINANCIAL STATEMENTSCOMPENSATION PAID; $116,394DEFERRED COMPENSATION $ 20,314COMPENSATION ARRANGEMENT EACH BOARD MEMBER IS PAID DIRECTLY BY THE IRVINE RANCH WATER DISTRICT FOR ALL SERVICES RENDERED. ALLOCATION OF THE TIME SPENT APPLICABLE TO THE IRVINE RANCH WATER DISTRICT IMPROVEMENT CORPORATION BY THIS OFFICER IS ONE HOUR PER WEEK.EMPLOYEE NAME: MARY AILEEN MATHEISRELATED ORGANIZATION: IRVINE RANCH WATER DISTRICTFEIN: 95-2232918RELATIONSHIP EXPLANATION: IN AUGUST OF 1986, IRVINE RANCH WATER DISTRICT FORMED THE IRVINE RANCH WATER DISTRICT IMPROVEMENT CORPORATION FOR THE PURPOSE OF FINANCING WATER, SEWER AND OTHER PUBLIC IMPROVEMENTS. IN THE PRIOR YEAR THE CORPORATION'S ONLY TRANSACTIONS WERE RELATED TO THE DEBT SERVICE PAYMENTS ON THE OUTSTANDING 1986 CERTIFICATES OF PARTICIPATION. DURING THE YEAR ENDED JUNE 30, 2010, THESE 1986 CERTIFICATES OF PARTICIPATION WERE PAID OFF BY THE IRWD IMPROVEMENT CORP. THE FIVE DISTRICT BOARD OF DIRECTORS ARE REQUIRED TO BE THE FIVE MEMBERS OF THE CORPORATION'S BOARD OF DIRECTORS. THE IRVINE RANCH WATER DISTRICT ACCOUNTS FOR THE CORPORATION'S ACTIVITIES IN SEVERAL IMPROVEMENT DISTRICTS. THE CORPORATION DOES NOT ISSUE SEPARATE FINANCIAL STATEMENTSCOMPENSATION PAID; $ 24,680DEFERRED COMPENSATION $ 10,211COMPENSATION ARRANGEMENT EACH BOARD MEMBER IS PAID DIRECTLY BY THE IRVINE RANCH WATER DISTRICT FOR ALL SERVICES RENDERED. ALLOCATION OF THE TIME SPENT APPLICABLE TO THE IRVINE RANCH WATER DISTRICT IMPROVEMENT CORPORATION BY THIS BOARD MEMBER IS ONE HOUR PER WEEK.EMPLOYEE NAME: STEVE LAMARRELATED ORGANIZATION: IRVINE RANCH WATER DISTRICTFEIN: 95-2232918RELATIONSHIP EXPLANATION: IN AUGUST OF 1986, IRVINE RANCH WATER DISTRICT FORMED THE IRVINE RANCH WATER DISTRICT IMPROVEMENT CORPORATION FOR THE PURPOSE OF FINANCING WATER, SEWER AND OTHER PUBLIC IMPROVEMENTS. IN THE PRIOR YEAR THE CORPORATION'S ONLY TRANSACTIONS WERE”