An excerpt from our 2019 Audited Financials
Management has evaluated subsequent events through May 26, 2020, the date that the financial statements were available to be issued. In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a pandemic which continues to spread throughout the United States. This has led to federal, state and local governments and private entities mandating various restrictions on public gatherings, stay at home orders and advisories and quarantining of people who may have been exposed to the virus. After close monitoring and responses and guidance from federal, state and local governments, in an effort to mitigate the spread of COVID-19, effective March 17, 2020, the Association temporarily closed its doors to participants. Staff working in Contract Packaging were furloughed for a short time, but called back to work due to customer demand. Social distancing protocols have been put into action as well as increased cleaning and sanitizing procedures. Staff working for Regional Center programs are working remotely where possible, continuing to provide support and services to participants. The Association continues to monitor developments including government requirements and recommendations from the Department of Developmental Services to evaluate possible changes to operations. As the COVID-19 pandemic is complex and rapidly evolving, the Association’s plans may change. At this point, we cannot reasonably estimate the duration and severity of this pandemic, which could have a material adverse impact on the Association, results of operations, financial position and cash flows.