Majestic Oaks Annual Audit
Every year, the Majestic Oaks home owners association has an
audit performed to validate our financial statements.
This is performed by an independent CPA to ensure the audit is
fair and unbiased. This is partly to meet legal
requirements. It is also to ensure that the finances are
managed in a legal and ethical manner, and to protect the
neighborhood.
 Should I care?
How do you know the Majestic Oaks board of directors is
spending our money properly? What is to keep the board from
embezzling our funds? Are we following the legal requirements
as a non-profit organization? The audit will protect you from
this.
What won't it tell me?
The audit just looks at the books to make sure they are kept
in an appropriate and legal manner. How the money is spent is
not reviewed. Don't get me wrong, if the board were to put a
Hawaiian vacation on the books, it would most likely be found..
He won't determine that the Majestic Oaks board of directors is
going out to bids or isn't using their position for personal
gain.
What can I do to make sure our finances are above
board?
The only way to prevent that is to get involved. Review the
budget. Ask for the monthly reports. If you notice something
that doesn't look right, call the board and ask for an
explanation!
2005 annual audit
2004 annual audit
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