| FORM 990 - ORGANIZATION'S MISSION |
SUN CITY ORO VALLEY COMMUNITY ASSOCIATION, INC. HAS BEEN FORMED FOR THE PURPOSE OF OWNING, OPERATING, MAINTAINING, AND PRESERVING FACILITIES WHICH ENHANCE THE RECREATIONAL, SOCIAL, AND LEISURE INTERESTS OF THE ASSOCIATION AND THE SURROUNDING COMMUNITY. |
| FORM 990, PAGE 2, PART III, LINE 4A |
THE 2022-2023 YEAR HAS BEEN A YEAR THAT HAS SEEN MUCH SUCCESS AND PRODUCTIVITY. WE HAVE SEEN THE ACTIVITY CENTER RENOVATION PROJECT COME TO ITS FINAL PHASE AND HAVE A GRAND OPENING THAT WAS SPECTACULAR. DESPITE THE COMPLICATIONS THAT COVID CAUSED WITH SUPPLY CHAIN ISSUES AND INFLATION, WE WERE ABLE TO COMPLETE THE ACTIVITY CENTER PROJECT UNDER BUDGET. THERE HAS ALSO BEEN POLICY MODIFICATIONS AND CHARTER REVISIONS. COMMITTEE CHARTERS WERE REVIEWED, AND MANY CHANGES IMPLEMENTED. AND WE WERE ABLE TO RECEIVE A POSITIVE VOTE ON THE PURCHASE OF THE COPPER CENTER AND THEN COMPLETE THE PURCHASE. WE HAVE SEEN THE GOLF COURSE HAVE RECORD NUMBERS OF ROUNDS PLAYED AND THE RESTAURANT WITH RECORD NUMBER OF COVERS AND REVENUES. INCREASES IN REVENUE AT THESE TWO VENUES CAN BE ATTRIBUTED TO MANY THINGS AND A COUPLE OF THEM ARE THE GOOD QUALITY OF CUSTOMER SERVICES, PRODUCTS AND MUSIC/ACTIVITIES. THEY ARE BOTH SPECTACULAR PLACES TO JOIN WITH FRIENDS OR MAKE NEW FRIENDS. FINANCIALLY THE ASSOCIATION CONTINUES TO BE IN EXCELLENT CONDITION. WE ARE STILL SEEING HOMES SELLING QUICKLY, ONCE PLACED ON THE MARKET. THEY ARE SELLING AT A HIGH PRICE PER SQUARE FOOT WHICH PROVIDES CAPITAL FUNDS FOR FUTURE CONSTRUCTION PROJECTS. THE RESERVE FUND IS ADEQUATELY FUNDED, AND THE STAFF ARE DEDICATED TO SERVING THE RESIDENTS AND PROVIDING EXCELLENT CUSTOMER SERVICE WHILE MAINTAINING THE FACILITIES IN A MANNER THAT SHOWS PRIDE IN THE COMMUNITY. |
| FORM 990, PAGE 6, PART VI, LINE 6 |
EACH LOT OWNER IN GOOD STANDING MAY CAST ONE VOTE ON ALL MATTERS REQUIRING MEMBER APPROVAL. |
| FORM 990, PAGE 6, PART VI, LINE 7A |
EACH BOARD MEMBER IS ELECTED BY A VOTE OF THE MEMBERSHIP. |
| FORM 990, PAGE 6, PART VI, LINE 7B |
MEMBERS IN GOOD STANDING OF THE ASSOCIATION ARE ALLOWED TO VOTE TO EITHER APPROVE OR OVERTURN THE RECOMMENDATION OF THE BOARD OF DIRECTORS ON THE FOLLOWING MATTERS WHICH IN CERTAIN CIRCUMSTANCES MAY REQUIRE APPROVAL: ANNUAL FEE INCREASES; SPECIAL ASSESSMENTS; CHANGES TO USE OF ASSOCIATION LAND AND PROCEDURE; AMENDMENT TO THE ASSOCIATION'S BYLAWS AND DECLARATION OF COVENANTS, CONDITIONS, RESTRICTIONS, ASSESSMENTS, CHARGES, SERVITUDES, LIENS, RESERVATIONS AND EASEMENTS; TERMINATION OF THE ASSOCIATION'S DECLARATION; AND ANNEXATION OF ADDITIONAL PROPERTIES. |
| FORM 990, PAGE 6, PART VI, LINE 11B |
THE BOARD PRESIDENT & TREASURER WILL RECEIVE COPIES OF FORM 990 FOR REVIEW PRIOR TO FILING. IF ANY QUESTIONS OF CONCERNS ARISE THEY WILL BE ADDRESSED THROUGH THE CONTROLLER TO THE ACCOUNTING FIRM HANDLING THE 990 FILING. |
| FORM 990, PAGE 6, PART VI, LINE 12C |
BOARD MEMBERS ARE REQUIRED TO DISCLOSE CONFLICTS AT THE NEXT OPEN MEETING OF THE BOARD. |
| FORM 990, PAGE 6, PART VI, LINE 15A |
A COMPENSATION SUB-COMMITTEE OF BOARD MEMBERS REVIEWS A COMPENSATION SURVEY AND MAKES A RECOMMENDATION TO THE BOARD FOR APPROVAL. |
| FORM 990, PAGE 6, PART VI, LINE 19 |
DOCUMENTS ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9 |
FUND BALANCE RECLASSIFICATION -1,323,756 |
Attach to Form 990 or 990-EZ.