Highland Meadows Golf Club

“The club has multiple levels of membership.”

“The nominating committee appointed by the president of the board, nominates twice as many candidates as there are vacancies for the board positions. The nominating committee prints and sends the ballot to certificate holding members (in good standing)at least 10 days prior to the annual meeting. Ballots may only be cast by mail received by the club prior to noon of the date of the annual meeting.”

“Yes, some decisions are subject to approval by stockholding members. For example, the board of governors shall not raise or lower membership dues nor levy any assessment without the written consent of two-thirds of the certificate holding members in good standing.”

“A draft copy of the 990 and 990t was provided to the treasurer before the final returns were filed.”

“Reviewed and discussed with management on a regular basis by governing members, at a minimal annually and at board meetings by the governing body also at a minimum annually. Through the reviews and discussions, the governing body, committe chairs and management are diligent in compiling and maintaining a list of potentially conflicted entities and individuals.”

“General manager's compensation is approved by the independent finance committee and board.”

“Key employees' compensation is approved by the independent finance committee and board.”

“The governing documents are available on highland meadows golf club website and the other documents are available upon request. The board of governors (directors) oversees the review of the financial statements and the selection of the independent accountant.”

“Book / tax depreciation difference 10,072 stock redemptions -118,450 total -108,378”