Diablo View HOA Financial Reports

 

Financial Reports

Members may obtain current financial reports by contacting the property manager.   (www.acihoa.com)

Auditor's Report - End of Year 2007

Auditor's Report - End of Year 2006

Auditor's Report - End of Year 2005

Reserve Study (for Budget Year 2006)

Association Dues

Dues in the amount of $41 per month are collected to support the operations of the Association.  All homeowners are mailed a statement at the end of the month for the following month as a courtesy.  Payments are due on the first (1st) and late if not received by First Bank by the last day of the month.  Payments are to be mailed to:

Assessment Collection Policy

Investment Policy

The objective of our short-term investment program is to earn the maximum yield on all funds in excess of our basic cash requirements with minimal risk of principal and adequate provision for liquidity.  In keeping with that objective, the following is a statement of policy, adopted by the Board of Directors, regarding authorized investments:

  1. Instruments issued by the top 50 domestic banks with AA long-term debt ratings and A-1+,p-1 commercial paper rating by Standard & Poor's and Moody's limited to $100,000 in any one institution including: a.) Negotiable certificates of deposit.  b.) Money market accounts.

  2. U.S. Treasury obligations with no limit as to amount.

Initial purchases of investments require approval from the President and the Treasurer.  Maturities are limited to one year or less.

Insurance Information

The association is covered for $2 million in general liability, hazard, fire and coverage for the Board of Directors.  There is a $2,000 deductible.  This coverage meets the requirements of the California Civil Code for Common Interest Developments.  A copy of the coverage is available from the agent, Nelson DeBasa, Gallagher & Heffernan Insurance, (415) 536-8454, directly.

The Board of Directors passed a resolution to have all claims initiated by Management.  The Insurance agent will not take claims on the master policy from homeowners.  The following applies to the payment of the deductible on a covered loss:

If damage originates in the common area and causes damage to a unit, then the association shall be responsible for payment of the deductible.

Gallagher & Heffernan Insurance is happy to answer coverage questions and provide residents with quotes for contents insurance.  The association policy does not cover your private lot, home, or personal property.  All residents are encouraged to carry loss assessment coverage.

 

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