The following Reports include CLCCA's Audited Financial Statements, Tax Returns, Budgets and the most recent Reserve Study. Once the Auditor completes and returns the audit and annual tax return to CLCCA each year, it is posted here. Budgets are posted once the board has approved them.
One of the primary business duties of an association is maintaining and preserving property values of residential units and the common property. To do this properly, associations must develop funding plans for future repair or replacement of major common-area components, such as roofs, boilers, swimming pool components, asphalt surfaces, and much more.
The CLCCA currently has only one funding option for Capital Reserves: a reserve fund. Many Associations have other options such as periodic assessments over the life of assets or special assessments at the time of replacement or borrowing funds.
2018 - Form 990