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.”

“Architectural staff: program service expenses 32,400. Management and general expenses 0. Fundraising expenses 0. Total expenses 32,400. Lighting: program service expenses 31,065. Management and general expenses 0. Fundraising expenses 0. Total expenses 31,065. Electricity: program service expenses 25,369. Management and general expenses 0. Fundraising expenses 0. Total expenses 25,369. General maintenance and repairs: program service expenses 20,862. Management and general expenses 0. Fundraising expenses 0. Total expenses 20,862. General and administrative: program service expenses 0. Management and general expenses 20,554. Fundraising expenses 0. Total expenses 20,554. Legal and collection: program service expenses 17,401. Management and general expenses 0. Fundraising expenses 0. Total expenses 17,401. Insurance: program service expenses 13,255. Management and general expenses 0. Fundraising expenses 0. Total expenses 13,255. Provision for doubtful accounts: program service expenses 9,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 9,000. Pest control: program service expenses 6,950. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,950. Architectural consultant: program service expenses 4,898. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,898. Refuse: program service expenses 4,393. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,393. Audit and tax preparation: program service expenses 0. Management and general expenses 2,150. Fundraising expenses 0. Total expenses 2,150. Income taxes: program service expenses 1,154. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,154. Street sweeping: program service expenses 840. Management and general expenses 0. Fundraising expenses 0. Total expenses 840. Property tax: program service expenses 115. Management and general expenses 0. Fundraising expenses 0. Total expenses 115.”

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