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Annual Financial Statements

At the end of an association’s fiscal year, the association’s CPA prepares a written report regarding the association’s financial condition. The information used in preparing the report includes management representations and statements concerning the association’s assets and liabilities, including any litigation that could have an adverse impact on the association (pursuant to FASB Statement of Financial Accounting Standards No. 5, Accounting for Contingencies).


Unless an association's governing documents impose more stringent standards, the association must prepare a review of its financial statement in accordance with generally accepted accounting principles by a licensee of the California Board of Accountancy for any fiscal year in which the gross income of the association exceeds seventy-five thousand dollars ($75,000).  (Civ. Code § 5305.)

Distribution of  Review: 

A copy of the review of the financial statement must be delivered to all of the association's members within one hundred and twenty (120) days after the close of the association's fiscal year.  (Civ. Code § 5305.)   For California Pines, the fiscal year ends December 31st.

Individual Delivery Required: The review must be delivered to all members by individual delivery. (Civ. Code § 5305.) This includes any of the following methods: (Civ. Code § 4040.)

  • First-class mail, postage prepaid, registered or certified mail, express mail, or overnight delivery by an express service carrier; or
  • E-mail, facsimile, or other electronic means, if the recipient has consented, in writing, to that method of delivery.


    The following is the most recent Annual Financial Statement published by the POA:

    December 31, 2015

    Please let us know if you have any trouble accessing reports on this page, or if you have any questions regarding their contents.