Painted Trails Community 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 - residents become members by virtue of owning a unit in the community.”

“Members have voting rights accorded to then by virtue of owning a unit in the community 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. The association complies with all state requirements for community interest developments regarding membership 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.”

“General maintenance and repairs: program service expenses 37,968. Management and general expenses 0. Fundraising expenses 0. Total expenses 37,968. Electricity: program service expenses 36,577. Management and general expenses 0. Fundraising expenses 0. Total expenses 36,577. General and administrative: program service expenses 0. Management and general expenses 29,654. Fundraising expenses 0. Total expenses 29,654. Gas: program service expenses 26,886. Management and general expenses 0. Fundraising expenses 0. Total expenses 26,886. Office supplies/printing/postage: program service expenses 23,952. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,952. Painting: program service expenses 14,846. Management and general expenses 0. Fundraising expenses 0. Total expenses 14,846. Pest control: program service expenses 8,635. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,635. Streets/drives: program service expenses 6,447. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,447. Lighting: program service expenses 5,504. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,504. Roofs: program service expenses 4,100. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,100. Audit/tax preparation/reserve study: program service expenses 0. Management and general expenses 3,185. Fundraising expenses 0. Total expenses 3,185. Fences, gates & walls: program service expenses 2,400. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,400. Income taxes: program service expenses 10. Management and general expenses 0. Fundraising expenses 0. Total expenses 10.”

“Allocation from reserves to liability due to 12/31/19 rev recog. Changes -1,647,672.”

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