Kitsap Residences

“PROCEDURES IN COMPLETING ANNUAL FORM 990: The following procedures are used in gathering and compiling the financial data used in reporting and filing the annual Form 990: 1) All expenses are assessed by the agency Accountant prior to the approval by the Administrator. Upon approval, the documents are reviewed and audited by the Board Vice-President. After the documents were signed, payments are then processed by the Accountant. 2) The Board Vice-President reviews and audits all approved expenses two times per month, and/or as needed. The agency Accountant compiles the financial data and prepares the monthly financial statements for the Administrator's review. 3) The six members Board of Directors review the agency financial statements every quarter and at the year end. Upon completion of the financial operations of the agency, the data on the compiled financial statements are used in reporting the Summary of the Revenue, Expenses, and Net Assets for Fund Balances on Form 990. The agency Accountant completes the Form 990. 4) The agency Administrator and the Board Vice-President review the completed Form 990. Upon approval, the Board Vice-President signs the form. All six members Board of Directors are provided a copy of signed form 990 before filing. 5) The agency Accountant electronically file the Form 990. The Electronic Filing is made on or before June 15.”

“The agency's governing documents, conflict of interest policy, and financial statements is available to the public upon written request to be mailed to Kitsap Residences, 2505 SE Mile Hill Drive, Unit 201, Port Orchard, WA 98366.”

“Board Approved Funds Reserved for six months payroll expenses, Paid Time-Off, COVID-19 Emergency expenses, accrued certification fees-$329944 / Cost Settlement-$6278 / Paid Certification Fees-$13772 / Community Activities-$7 / Minor Equipment Maintenance-$6713 / Program Supplies - $13763 / Employee Continued Training Program-$8145 / Telephone-$1721.”