To whom must the annual financial statements of a Cordova advertising cooperative be provided?

According to Cordova's 2025 Franchise Disclosure Document, if a local or regional advertising cooperative is established, each cooperative must prepare annual unaudited financial statements. These financial statements must be provided to each cooperative member for review. This means that franchisees who are part of the advertising cooperative will receive the financial statements to understand how the cooperative's funds are being managed.

This requirement ensures transparency within the advertising cooperative, allowing franchisees to see how their contributions are being used for marketing and advertising efforts. It also enables them to assess the effectiveness of the cooperative's financial management. Franchisees can then use this information to provide feedback or suggestions to the cooperative's administration.

It's important to note that the financial statements are unaudited, meaning they have not been verified by an independent accounting firm. While this provides a general overview of the cooperative's finances, franchisees should be aware that the figures presented have not undergone external scrutiny. If a franchisee has concerns about the financial management of the cooperative, they may want to request further clarification or suggest a formal audit.