SANDY POINT IMPROVEMENT COMPANY

NOTICE OF SPECIAL MEETING OF SHAREHOLDERS

Date of Notice: April 13^th, 2026

What: Special Meeting to Propose Annual Audit Waiver for Shareholder Approval

When: May 16, 2026 at 10:00am

Where: Sandy Point Improvement Company Clubhouse (Upstairs)

             4460 Decatur Drive, Ferndale, WA  (8248

 

Dear Sandy Point Improvement Company Shareholder,

 

You are hereby notified that a Special Meeting of the Shareholders of Sandy Point Improvement Company will be held on the date, time, and at the place set forth above.

PURPOSE OF THE MEETING

The purpose of this Special Meeting is to conduct a Shareholder vote on the following proposal:

Shall Sandy Point Improvement Company waive the requirement for an annual audit of its financial statements for the fiscal year ending on March 31, 2026, as permitted by RCW 64.38.045(2)?

In addition, the audit results from last year will be presented at the meeting but no action is necessary regarding this item.

VOTING — PROXY PARTICIPATION

Shareholders may vote at the Special Meeting in person or by directed proxy. Because the Board recognizes that many Shareholders may find it inconvenient to attend in person, a Directed Proxy Form is enclosed with this notice. Shareholders are encouraged to complete and return the proxy form by mail as soon as possible.  In the alternative, you may drop off your completed proxy form at the Sandy Point Improvement Company Office.  All proxy forms must be received (not just postmarked) prior to or at the Special Meeting. Proxies received after this will not be counted.

REQUIRED VOTING THRESHOLD

Pursuant to RCW 64.38.045(2), the audit waiver requires approval by 67% of the votes cast by shareholders at a meeting at which a quorum is present. A quorum consists of 34% of the Shareholders, as defined in Bylaws. Shareholders who return a proxy will be counted toward quorum.

ANNUAL WAIVER

Please note that this waiver, if approved, applies only to the fiscal year ending March 31, 2026. A separate Shareholder vote will be required each year the Board proposes to waive the audit requirement.

QUESTIONS

If you have any questions regarding this notice or the proxy form, please contact: Debbie Hunt at 4460 Decatur Drive Ferndale WA 98248, debbiehunt@oursandypoint.com, 360-384-3921

Sincerely,

 

Steve Stedman, President

Sandy Point Improvement Company