Southwest Atkins Water Users

“The association consists of member/users of the organization who collectively participated in the activities of the association which is in a liquidation status.”

“All association member households are entitled to one vote at all membership meetings. In addition, any individual from that household can run for election to the board.”

“The association had outsourced the management of the association to a management company but all material transactions are approved by the board. The members of the board review interim financial activity at regularly scheduled meetings. Board meeting minutes, which include status of finances, are recorded and approved accordingly.”

“The form 990 is submitted in draft form to the board, or assigned member od the board of the association to be approved before filing. Once the board members/member has completed their review and any questions are resolved and approved, the appropriate 990 filing is signed by the chairman of the board or treasurer in order that the filing may be submitted in its approved form.”

“All governing documents are held by the management company and are available to the general public.”

“The association was established to provide water to rural atkins area customers up and to the date of asset transfer to the city of atkins, arkansas. During 2014, the water system infrastructure was contributed to the city of atkins. The association since that time has obtained legal representation to complete the final liquidation and closeout processes.”

“The association, during 2014, contributed its infrastructure assets to the city of atkins, arkansas and has since commenced with activities to liquidate the remaining assets of the association. During 2015, management retained legal council to represent its members to develop a final approved plan of liquidation. Management expects the final asset distribution to be completed during the 2016 period after which time a final filing will be processed to close out the operations.”