FINANCIAL PACKETS & DISCLOSURES
The Financial Packet and Annual Disclosures for 2019-2020 are now on their way to members.
• If you chose to receive material digitally by signing the Electronic Mail Consent Form mailed in January, you should receive a pdf file of the entire packet at the email address you provided. If not, please check your junk mail folder first. Sometimes there are delays when sending out large numbers of emails, so it may take a few days for all of them to process.
We are tracking deliveries and will resend to any recipients with an unsuccessful delivery. If you don’t have it by Wednesday (May 22), please call the YLOA office at 559-658-7466 so we can verify your email address..
• If you didn’t choose digital delivery, the packet will be arriving by postal mail in coming days. It was sent to our bulk mail vendor for printing, processing and mailing on Thursday.
The annual packet contains the president’s letter and financial information including the revised list of fees, important notes, policy changes and the application form for a pool pass.
ABOUT THE TIMING OF PACKET RELEASE
The YLOA Board of Directors in March voted on a schedule for release of documents in 2019. That included a date of April 12 for the annual packet. But since then, it was discovered that:
• To comply with the California Davis-Stirling laws covering HOAs, the packets can go out no earlier than 60 days before annual assessments (dues) are due — July 1.
• Language and information that has been used in previous packets, which we had intended to reuse this year, needed to be updated to fully comply with current Davis-Stirling disclosure requirements. This took extra time as virtually the entire packet had to be rewritten and assembled. As a result, the packet you are receiving is more factual and should be much more useful.
In June, an election packet will be sent out with material just for the 2019 YLOA Board of Directors election, including candidates’ statements and ballots.