2220 E Murray Holladay Rd. Main Office, Holladay, Utah 84117, United States
Financial Information and Internal Controls- what this means for you!
The most important aspect of the association financials begins with the internal controls that have been put into place as a security net for the association. These internal controls ensure the integrity of the activities for all facets of the finances and the accounting process. Utilizing internal controls, ensures that business is carried out in an orderly, effective and accurate manner.
The internal controls include, but are not limited to the following:
This oversight by the Board of Directors and our professional partners is critical to help eliminate risks, and to confirm that the integrity of all financial procedures is adhered to.
Additionally, this safeguards the assets of the association from any form of loss and ensures that the financial information is accurate, reliable, and timely.
Official Association Records
Utah state law defines the following, as the official records of the association:
The board is obligated to provide owners of the association with the official records of the association that are listed above.
The official records are available for download (please see below).
Available in paper format only for owners that have limited digital access.
The financial records and documents provided are for the regular course of business as required by law, and show in detail the assets and liabilities and results of the operations of the association for owner review. The Board does not generate or keep additional financial breakdowns that are not required for the regular course of business.
*Owners who wish to review the financial records and financial condition of the association will find all available information in these listed documents. The financials are in partnership with association Board of Directors, management team, accounting firm, and attorney.
Declaration of Condominium (Master Deed)
Declaration of - Covenants, Conditions & Restrictions (CC&Rs)
These are the approved documents for your reference. No other past documents should be considered.
Most Recent Approved Meeting Minutes
2023/24 Budget & Most Recent Financial Statement
The Master Insurance policy covers covers sudden and accidental damage. Prior to filing any claim, the incident must be reported to your individual insurance policy agent to determine the cause. Please also report the loss to association management.
The Association's Master Insurance deductible is $50,000. Owners responsibility is to pay the initial $50,000 from their personal insurance or out of pocket.
Please note the amount of damage prior to filing a claim. If the repairs are less than the $50,000 deductible, there is no claim to file under the association Master Insurance.
Most Recent Reserve Analysis and Forensic Report Summery
Resolutions and Policies
Dear Members of the Association,
In pursuit of transparency and sound financial management, the Board of Directors has decided to conduct a comprehensive financial audit in 2024. This audit will encompass a thorough examination of our financial statements, records, and processes to ensure accuracy, compliance, and the integrity of our financial reporting.
The aim of this audit is to:
To facilitate this process, we will be engaging a reputable auditing firm with expertise in our industry. Their team of experienced professionals will work closely with our accountant and management to ensure a smooth and efficient audit.
We believe that this proactive approach will not only enhance the trust and confidence of the association members but also enable us to identify areas for improvement and strengthen our financial management practices.
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