ANNUAL FINANCIAL REPORT

Each year the Board of Directors of Montage at Mission Hills has an annual financial audit of its fiscal operations prepared for review by the Board and residents of the community. The health of the association’s finances, as demonstrated in the annual audit, is a reflection of the Board of Director’s ability to effectively manage Association funds and maintain the development’s capital assets in good order thereby maintaining and enhancing residential property values.

California State Statutes (Civil Code §1365(c)) provide that unless the governing documents of the home owners association impose more stringent standards, the association must prepare and distribute a review of the financial statement of the association in accordance with generally accepted accounting principles (GAAP) by a licensee of the California State Board of Accountancy for any fiscal year in which the gross income to the association exceeds $75,000.

Civil Code §1365(c) Distribution of Reviewed Statement. Law requires that a copy of the reviewed financial statement be distributed for review within 120 days after the close of each fiscal year. To view and download a copy of the Montage at Mission Hills annual financial audit click on the year tab and then select the audit document you would like to view.