SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
MediumBullet Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.
OMB No. 1545-0047
2016
Open to Public
Inspection
Name of the organization
MUNICIPAL GOLF ASSOCIATION - SA
 
Employer identification number

26-0308824
Return Reference Explanation
Form 990, Part VI, Section A, line 2 Two of our Board members both work for the City of San Antonio in management positions.
Form 990, Part VI, Section B, line 11b The reviewed financial statements and the federal income tax return on form 990 are prepared by the Organization's independent public accounting firm. Both are reviewed by members of management and a representive of the Board of Directors before approval and filing of the tax return.
Form 990, Part VI, Section B, line 12c Municipal Golf Association is developing a more comprehensive policy of reviewing and monitoring compliance, on a regular basis, its various Board policies, including conflicts of interest, whistleblower, document retention, and similar policies.
Form 990, Part VI, Section B, line 15 The compensation of the Chief Executive is set and approved by the Board of Directors based on performance and comparability data.
Form 990, Part VI, Section C, line 19 Municipal Golf Association makes it's governing documents, Board policies, federal income tax return and reviewed financial statements avaiable upon formal written request mailed or delivered to our administrative offices.
Form 990, Part XI, line 9: CHANGES RESULTing FROM RESTATEMENT OF PRIOR PEriOD FINANCIAL STATEMENTS 32,222.
Form 990, Part XII, Line 2c: THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITY AND OVERSIGHT FOR THE REVIEW AND SELECTION OF AN INDEPENDENT ACCOUNTANT
FORM 990, PART XI, LINE 9 DURING THE CURRENT YEAR, IT WAS DETERMINED THAT DEBT DUE TO THE CITY OF SAN ANTONIO (COSA) WAS Incorrectly reported AT SEPTEMBER 30, 2016. UNDER MGA-SA CERTIFICATES OF OBLIGATION COSA LOAN, COSA GAVE MGA-SA THE BENEFIT OF $725,000 IN BOND PREMIUM IT RECEIVED ON ISSUANCE OF THE BONDS. MGA-SA RECEIVED $4,000,000 IN BOND PROCEEDS BUT IS ONLY REQUIRED TO REPAY $3,275,000. ACCORDINGLY, $692,778 AT SEPTEMBER 30, 2016 HAS BEEN RECLASSIFIED FROM LONG-TERM DEBT TO CITY OF SAN ANTONIO BOND PREMIUM AND IS BEING AMORTIZED TO INCOME OVER THE REMAINING 15-YEAR TERM OF THE RESTATED DEBT. THE RESTATEMENT RESULTED IN A $32,222 INCREASE to EQUITY at September 30, 2016 from that previously relating to AMORTIZATION OF THE BOND PREMIUM.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2016


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