Accountant’s Compilation Report

Abby H. Champion, CPA, P.C.
215 Gilead Road, Suite 200, Huntersville, North Carolina 28078
Phone: 704-947-5580 Fax: 704-947-5578

ACCOUNTANT’S COMPILATION REPORT

October 16, 2024

Chestnut Mountain Farms Homeowners Association
PO Box 1898
McGrady, NC 28649

To the Board of Directors of Chestnut Mountain Farms Homeowners Association,

Management is responsible for the accompanying financial statements of Chestnut Mountain Farms Homeowners Association, which comprise the statement of assets, liabilities, and member’s equity—tax basis as of September 30, 2024, and the related statements of revenue and expenses—tax basis for the quarter then ended and for the period of January 1 through September 30, 2024 in accordance with the tax basis of accounting, and for determining that the tax basis of accounting is an acceptable financial reporting framework.

We have performed a compilation engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA.

We did not audit or review the financial statements nor were we required to perform any procedures to verify the accuracy or the completeness of the information provided by management. Accordingly, we do not express an opinion, a conclusion, nor provide any form of assurance on these financial statements.

The financial statements are prepared in accordance with the tax basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United States of America.

Management has elected to omit substantially all of the disclosures ordinarily included in financial statements prepared on the tax basis of accounting. If the omitted disclosures were included in the financial statements, they might influence the user’s conclusion about the business’s assets, liabilities, equity, revenues and expenses.

Accordingly, these financial statements are not designed for those who are not informed about such matters.

We are not independent with respect to Chestnut Mountain Farms Homeowners Association.

Sincerely,

ABBY H. CHAMPION, CPA, P.C.

Member: AICPA & NCA

CMF-HOA-Statement-of-Revenues-and-Expenses-Tax-Basis-October-16-2024