The King City Highlands

The King City Highlands

A 55+ Adult Community

The King City Highlands

A 55+ Adult Community

The Finance Committee

  1. The mission of the Finance Committee is to provide oversight of the Financial Management of the Association.
To do this, the Committee:
Reviews the monthly financial report.
Tracks execution of the Board of Directors (BOD)-approved Operating and Reserve budgets. Tracks income — specifically living unit sales and delinquent accounts.
Flags budget variances that have significant impact.
Alerts BOD when they need to take action on specific financial matters.
Seeks corrections to financial report where indicated.
Evaluates Management company performance.
Publishes a one-page Monthly Financial Snapshot for HOA membership.

Reviews and suggests modifications of, or additions to, financial procedures (resolutions).
Reviews adherence to established procedures.

Assists with budget preparation as requested by BOD.
Reviews annual Auditor Review of Association finances.
Assists with preparation of Reserve Study as requested by BOD.

  1. The Committee meets the Tuesday before the monthly Board of Directors meeting. This is usually the 4th Tuesday of the Month – but it can be the third. Consult the “Highlands Highlights” or the Upcoming Events on this websitefor current schedule. Meeting time is 7:00 PM. Place is Board Room at clubhouse. The Association Treasurer usually participates in this meeting. Other BOD members frequently attend.
  2. Visitors are always welcome. This is an excellent opportunity to get your financial questions answered. Prospective committee members should contact the committee co-chairpersons.
  3. The committee welcomes involvement by those who are interested. An accounting or legal background is especially welcome – but not necessary.

Financial Reports for the Highlands

File NameTypePermissionsDateSize
pdf
2019 Approved Budgets pdf 0644 21-Jan-2019 05:10 53 KB Preview Download
pdf
CMI 2018 EOY Financial Statement pdf 0644 29-Mar-2019 10:24 272 KB Preview Download
pdf
CMI 2019 02 Financial Statement pdf 0644 29-Mar-2019 10:24 551 KB Preview Download
pdf
Financial Snapshot 2019 02 pdf 0644 29-Mar-2019 10:24 85 KB Preview Download
pdf
Reserve Study 2018 01 pdf 0644 21-Jan-2019 05:13 12 MB Preview Download