Utah Central Association of Realtors

“Response to part iv, section b, line 11b and 15b: 11b. The form 990 is prepared by the accountant and is reviewed with the principal officer of the association. 15b. The executive committee reviews and approves the compensation contract with the ceo. Pursuant to this contract, the ceo's compensation is reflected in the annual operating budget which is approved by the board of directors. The ceo is the only paid officer of the association (see schedule j). All of the directors and other officers are not compensated volunteers who donate their time to the association. The president receives a stipend of 1000 per month. Response to part vi, section c, item 19: copies of governing documents, policy statements and financial statements are made available to the public upon written request to the administrative executive at: utah county association of realtors, 1031 west center street, ste 100, orem ut 84057”

“No review was or will be conducted.”

“No documents available to the public”

“Response to part i, line 1 and part ii - organizations mission and most significant activities: taxpayer is a real estate board and as such does not have specific programs and services to which revenues and expenses are allocated. The revenue amount shown in part iii, line 4a represents membership dues and fees paid by members. The board administers and monitors the professional requirements of the state licensing agency and the national association of realtors on behalf of its members. These activities include: 1. Monitoring members conduct and compliance with professional standards and the board's code of ethics, 2. Education courses to enable members to meet their professional continuing education requirements, 3. Providing lock box security systems used by agents in connection with properties listed for sale, 4. Making available forms, contracts, and other supplies used by real estate agents, 5. Promoting the interest of individual property rights and home ownership. These activities are funded primarily by membership dues and related fees, plus fees for services, in certain cases. As previously noted, revenues and expenses are not subject to segregation or allocation to the individual services and activities provided by the board.”

“NA”

“Part xi, reconcilation of net assets, line 5: the description for this line is more clearly given on page 4 of schedule d, suplemental financial statements, in section xiv, supplemental information. Part xi, reconcilation of net assets, line 9: other changes in net assets or fund balances in the amount of 1,192,042 are broken down as follow: undistributed earnings of wfrmls 1,226,475, government affairs -34,433”