Valencia Heights Water Company

“The stockholders of vhwc are also property owners who recieve water from the organization.”

“Stockholders have the right to elect members of the board of directors.”

“Amendments to the by-laws, approval of minutes, election of board directors, and approval of financial statements are decisions that are subject to the approval of stockholders.”

“The form 990 is prepared by the organization's outside public accounting firm based on information provided by management. Once a draft of the return is available, it is reviewed by the general manager and treasurer with any changes or revisions incorporated into the filing. The revised return is then submitted to the board of directors for their review and approval prior to submitting to the irs.”

“The organization maintains a conflict of interests policy for board members, officers, and employees. In connection with any actual or potential conflict of interests, an interested person must disclose the existence and nature of any outside interest, outside activity, and financial interest to the board of directors, or the board committee delegated the authority to receive such disclosures. Monitoring is performed regularly by the board officers to identify potential conflicts of interest. Any question of a conflict is addressed with the interested person, who is required to disclose the existence of any financial interest and be afforded the opportunity to disclose all material facts to the board and executive director. If a conflict of interest is identified, the appropriate action is taken, including limitations to the individual's influence on related business matters. When conflicts of interest arise among board members, the board will impose restrictions on the conflicted individual to ensure impartiality and integrity in decision-making. Individuals with a conflict will be prohibited from participating in the governing body's deliberations and decisions related to the transaction. They will not be present during discussions and voting rights will be restricted on matters where their conflict exists. These measures help maintain transparency and prevent biased outcomes.”

“General manager's compensation is reviewed and approved by the board on an annual basis.”

“The organization made its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Amortization of contributions in aid of construction -89,882. Retired common stock 32,968. Contributions 39,972.”

“The process for oversight and selection of an independent accountant has not changed from the prior year.”