Rolling Hills Ranch Community Assoc

“Daily operations are managed by an independent professional management company. The management company acts as an agent for the corporation. The board of directors appoints and supervises those who are responsible for the daily activities. The board of directors governs the organization in its pursuit of the corporation's charitable mission, and board members also carry legal and ethical responsibilities because they hold the nonprofit's assets in trust for the public. Furthermore, board members have a legal duty of loyalty to the corporation and must abstain from voting on matters in which they have a conflict of interest.”

“A member of the association would generally be a subscriber to the corporation's memorandum of association (articles of incorporation) with the member's name entered in the corporation's register of members when the firm is registered (or incorporated). Owners automatically become members of the association.”

“The corporation is structured to have members who have the right to elect directors of the corporation. During each year, the corporation holds an annual elections meeting where the association members elect the board members for the next year. The specific method of the board's election process is formally set in the corporation's organizational documents.”

“An organization's governing documents dictate the various resolutions that require membership approval. The bylaws specify when board meetings must be held and how many board members must be present to pass official business matters via vote. The association complies with all state requirements for community interest developments regarding membership approval.”

“The form 990 and other required state income tax returns are prepared by an independent certified public accountant as part of the review process. These income tax returns are then provided to the board of directors for review and signature authorization prior to their filing.”

“AVAILABLE UPON REQUEST.”

“Janitorial 67,412 0 0 cam 67,262 0 0 bad debt expense 63,814 0 0 patrol & security 59,145 0 0 chambord & tessera 52,026 0 0 streets and drives 46,385 0 0 access gate 34,746 0 0 lighting maintenance 27,222 0 0 tree trimming 23,850 0 0 pest control 15,840 0 0 licenses, permits, & fees 6,446 0 0 income tax expense 2,200 0 0 total 466,348 0 0”

“Transfer to/from contract liabilities 14,362 asc 606 reserve reclass -1,855,271 total -1,840,909”