Anchor Water Association Inc

“Taxpayer became aware of significant cash shortages based on total revenue collected compared to cash deposited. Subsequent to this tax year, the board began a formal investigation to determine if criminal charges should be filed. The organization's sole employee has been terminated. The board is currently reviewing its cash collections and deposit procedures.”

“Every person who is a record owner of a fee or undivided fee interest, or having a substantial possessory interest, in a property served by the water system may become of a member of the corporation upon signing such applications and agreements for the purchase of water as may be provided and required by the corporation and upon the payment of such connection fee as may be imposed by the board of directors provided that only one membership at a time may be held for each property served.”

“Each membership interest in the corporation represents one vote. Directors of the corporation are elected at the annual meeting of the members. The board of directors, subject to the restrictions of law, the articles of incorporation, and the corporation's bylaws, has full power and authority to make all decisions with respect to the business of the corporation. The bylaws may be repealed or amended by a vote of the majority of the members present at any regular meeting of the corporation, or at any special meeting called for that purpose.”

“Prior to filing form 990, each member of the board of directors is provided a completed copy of form 990 for review and approval.”

“The corporation makes financial statements available at its annual meeting and upon request. The corporation also makes available upon request of inspection at its business office the following information: (i) bylaws of the corporation; (ii) a copy of the policies and procedures of the corporation; (iii) tax returns; and (iv) amendments to the corporation's bylaws.”

“Contract labor 31,540 0 0 locking & unlocking meters 885 0 0 professional fees 3,187 0 0”