Foothill Business Association

“Association hires (under a competitive bid process approved by the board of directors) the services of a professional management company which manages the day to day administrative duties of the organization subject to the oversight of the board of directors. The management company acts as an agent for the association.”

“As per the governing documents - owners become members by virtue of owning space in this business association.”

“Members have voting rights accorded to them by virtue of owning a space in the association as specified in the association's governing documents. The members elect a board of directors which provides oversight for the association business affairs as well as services provided by the management company.”

“The association's governing documents specify the various resolutions requiring membership approval. Most resolutions require only board of directors approval.”

“Association's board of directors reviews and approves the tax returns.”

“The association has no employees. The association does not compensate its officers or board of directors. No policy or procedure for compensation is required.”

“All documents required to be disclosed by the association are available upon request at the offices of its management company.”

“All documents required to be disclosed by the association are available upon request at the offices of its management company.”

“Slope: program service expenses 28,745. Management and general expenses 0. Fundraising expenses 0. Total expenses 28,745. General maintenance and repairs: program service expenses 26,134. Management and general expenses 0. Fundraising expenses 0. Total expenses 26,134. Electricity: program service expenses 24,014. Management and general expenses 0. Fundraising expenses 0. Total expenses 24,014. Insurance: program service expenses 15,542. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,542. Paved surfaces: program service expenses 12,510. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,510. Legal and collection: program service expenses 10,071. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,071. Pest control: program service expenses 9,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 9,500. General and administrative: program service expenses 0. Management and general expenses 5,961. Fundraising expenses 0. Total expenses 5,961. Refuse: program service expenses 4,104. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,104. Audit/tax preparation/reserve study: program service expenses 0. Management and general expenses 2,525. Fundraising expenses 0. Total expenses 2,525. Consulting services: program service expenses 900. Management and general expenses 0. Fundraising expenses 0. Total expenses 900. Income taxes: program service expenses 871. Management and general expenses 0. Fundraising expenses 0. Total expenses 871. Street sweeping: program service expenses 846. Management and general expenses 0. Fundraising expenses 0. Total expenses 846. Architectural consultant: program service expenses 540. Management and general expenses 0. Fundraising expenses 0. Total expenses 540. Property tax: program service expenses 195. Management and general expenses 0. Fundraising expenses 0. Total expenses 195.”

“The process of oversight of the association's audit preparation and approval has not changed during the current fiscal year.”