Financial Data

The accumulated annual Audited Budget, Unaudited Budget, Full Unaudited Budget and Reserve Data Analysis received by each homeowner are downloadable. The Unadudited Budget, the Full Unaudited Budget and the Reserve Data Analysis are delivered in the fall (November or December) and the Audited Budget in the early spring (April or May).

In the past, the Unaudited Budget, the Full Unaudited Budget and the Reserve Data Analysis have been packaged together. Recently, the Park Paseo Homeowners Association has begun to separate them. What was previously known as the Unaudited Budget now contains the Annual Policy Statement and several mandatory disclosures. Each member of the Association (Homeowner) can request a copy of the Full Unaudited Budget and Reserve Data Analysis separately by sending email to the onsite Managing Agent or to the company hired by our Association to manage the Common Area. It is your right to receive a copy of all financial documents at no charge.

In looking at the financials keep in mind that the Unaudited Budget is forwards looking and the Audited Budget is backwards looking. By this I mean that the Unaudited Budget for 2019 represents expected expenses for 2020, and the Audited Budget for 2019 audits the actual costs for 2018. Confusing but true.

On this Web Page the reports are divided into two parts. The information sent to each homeowner is organized in the Annual Reports, the left, section of the table, the Generated Reports are organized into the Generated Report, the right, side of the table.

The Annual Reports are the reports given to each owner in the year indicated. The Generated reports for a given year, are the data relevant to that year. This data can be derived from an Annual Report different from the year indicated. The following table provides detail on the report year that the table entries represent.

Summarizing this we have:

Where

The Annual Reports received by each Association Member (homeowner) is unsuited for year-to-year direct comparisons. In any given two year interval, the names of assets can change, and for the RDA report, the category the asset is recorded under may change. These changes make direct comparison difficult. In each Generated Report, the same asset has the same asset identifier and is associated with the same category and is located at the same position. Comparing two (or more) years is a matter of aligning the physical reports.

The Reserve Data Report (RDA), also known as the Reserve Analysis Report is the evaluation of common assets for the year the report is written in, but the allocation of Association monies is for the following year. That is, the state of each asset is determined in one year, but the funding for that asset is a forward projection to the next year. We have chosen to include the Generated RDA report for the year that funds are allocated (Year + 1) and not for the year that an assessment of the state of the assets are made.

In the Annual RDA report the funding details are spread into different areas. In order to understand the financials of any given asset the “Distribution of Current Reserve Funds”, the “Calculation of Percent Funded” and the “Management / Accounting Summary” have to be combined. The Generated RDA report combines this information into a integrated view.

There are four Generated Reports; Audited, Unaudited, RDA, and Forensic. The Audited, Unaudited, and RDA reports are financial, the Forensic report is analytical. The financial reports divide the assets up into categories, subcategories, and assets, and the assets can be money, such as Homeowner Association Fees, or capital, such as pool lawn chairs. A money asset is listed in the Unaudited and/or the Audited financial reports.

Assets in the Generated Reports are given a unique identifier. An asset remains in the same Asset Category with the same Asset standard name for all years. The name and the assciated category in the Annual Reports may be different from year to year, but the (internal) Asset ID remains the same.

The Reserve Data Analysis ID for capial assets are from 000.000.000 to 299.999.99. Audited and Unaudited Budget financial Assets IDs are 500.000.00 to 599.999.99 are income related, and 600.000.00 and above are expense related.

Subcategories within categories are provided to allow identification and tracking of significant aggregates within a category. For example, the Clubhouse category (60.000.00) has subcategories for Doors, Kitchen, Office, and Restroom, as well as miscellaneous items .

1. Annual Reports: Received each year by each homeowner.
• Audited: The audited financial statement.
• Policy: Up to 2012 the Policy, Unaudited budget and Reserve Data Analysis were combined. Starting in 2013 the Association Policy was sent separately.
• Unaudited: The Unaudited Budget.
• RDA: The Reserve Data Analysis, showing the ongong cost and expected lifetime of all capital assets (pools, tennis courts, clubhouse, etc.).
2. Generated Reports: Annual Reports normalized to allow year-to-year comparisons.
• Audited: Asset names standardized and assets categorized with a unique ID.
• Forensic: Forensic analysis of capital (RDA) assets over a two year period. See RDA.
• Unaudited: Asset names standardized and assets categorized with a unique ID.
• RDA: Capital assets with each asset assigned a unique ID and unique name. Assets stay in the same category over all years.

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