2023-2024.ANNUAL REPORT

AUDIT Eric Wolf, Chairperson Robert Smolens, Vice - Chairperson Stephen Cohen, Board Liaison

Niles Citrin Robert Matza Art Weinbach

The Audit Committee is broadly responsible for insuring the integrity of the Club ’ s Financial State ments, and evaluating the performance of our Accounting and Finance department related to financial reporting, and effectiveness of internal controls. Specific activities include recommendation to the Board for the appointment of the independent public accountants for the audit of the Association ’ s an nual financial statements, as well as the Club ’ s Qualified Retirement Plan; review with the Auditors of the adequacy of the system of internal controls; review of the sufficiency of financial statement disclo sures; review of the scope and planning of the audits; review of Auditor communications to manage ment; and recommendation to the Board for the approval of the annual financial statements.

The Committee has reported to the Board that the audits resulted in “ clean ” unmodified opinions, and the Board has approved the financial statements.

In addition, the Committee has continued to engage with the Board, Management, the Finance Commit tee and external consultants regarding the Administration of the Conflict of Interest Questionnaire, the Whistleblower Policy, application of internal controls, financial management of construction activities, the search process for our CFO, and financial communications to the Community.

The Committee would like to thank our Board Liaison and the Finance department for their support and assistance.

Eric Wolf, Chairperson Robert Smolens, Vice - Chairperson Audit Committee

2023/2024 Annual Report Page 25