The Reserve at Kings Point

“The Reserve at Kings Point Community Association has engaged a management company (Kingwood Association Management) to provide accounting and other management services on behalf of the Association. KAM is paid a fee for their services. All actions taken by this entity on behalf of the Association are review by the Board of Directors.”

“There are 988 homes and business in the community that is served by the Reserve at Kings Point Community Association. Each Household/Business pays annual assessment and is a voting member of the Association. Regular meetings are held to review the Associations Financial and Operating activities and status. The members elect the Board of Directors. A few items outlined in the Charter and By-Laws review and approval of the members. An example is that if the Board wishes to issue a special assessment, (i.e. above the maximum assessment permitted), a majority of the members must approve this action.”

“There are 988 homes and business in the community that is served by the Reserve at Kings Point Community Association. Each Household/Business pays annual assessment and is a voting member of the Association. Regular meetings are held to review the Associations Financial and Operating activities and status. The members elect the Board of Directors. A few items outlined in the Charter and By-Laws review and approval of the members. An example is that if the Board wishes to issue a special assessment, (i.e. above the maximum assessment permitted), a majority of the members must approve this action.”

“There are 988 homes and business in the community that is served by the Reserve at Kings Point Community Association. Each Household/Business pays annual assessment and is a voting member of the Association. Regular meetings are held to review the Associations Financial and Operating activities and status. The members elect the Board of Directors. A few items outlined in the Charter and By-Laws review and approval of the members. An example is that if the Board wishes to issue a special assessment, (i.e. above the maximum assessment permitted), a majority of the members must approve this action.”

“The completed 990 form is provided by the preparer (John Kaskie - Treasurer) to the Board of Directors for review or comment. A copy of the return is made available to the residents of the Community Association upon their request.”

“The Policy is reviewed annual with the directors. They are reminded of their responsibility to disclose any potential or actual conflicts of interest. The Board overseas all decisions related to the award of all contracts or other significant expenditures to third parties.”

“The governing documents, financial statements, and Form 990 are available to the public upon written request. The Annual Financial Statements are distributed to all members of the Association that attend the annual Community Association meeting. A recap of the financial results is reviewed with all persons attending the interim (every other month) board meetings.”

“This line includes major maintenance and asset replacements. Examples includes: Hurricane Beryl cleanup ($22k), Pine Bark Beetle Infestation Remediation ($42k), Pool Resurfacing ($158k), Concrete Fence Replacement ($106k), Concrete Walkway Replacement ($45k), Irrigation Utilities ($34k), Other Tree Maintenance and Dead Removal ($34k)”

“Other Expenses totaling $12,792 include the following items: Supplemental Security Expenses ($8,200), Annual Homeowners Association Meeting ($2,906), Web Site Expense ($1,422) and Other ($264)”

“Rounding”

“The Reserve at Kings Point Community Association's financial statements are audited annually. The reason I checked the box 'No' is that the audit of the financial statements will not be completed until after the deadline for the filing of our IRS Form 990. If there was a material change to the financial statements as a result of the audit, I would file an amended return to correct the discrepancy in this submission. Our 2023-24 Financial Statement audit was completed in December 2024 and did not report any discrepancies. In the opinion of the independent auditors, the Financial Statements were accurate.”