The importance of accuratre financial management is essential to a community’s success. Boards of directors are responsible for millions of dollars worth of real estate assets and hundreds of thousands of dollars in annual operating funds. Even the most seemingly insignificant miscalculation can have a dramatic impact on home values and families within your community.

Management of Operating Checking and Reserve Accounts

• Accounts shall be under the Association's name and not commingled with funds of any other party.
• Additional reserve funds invested in other accounts or investment vehicles shall be under the sole control of the association.

Management of Accounts Payable

• Receive and review all association invoices and process for payment at least twice a month.
• Maintain vendor files containing invoices and corresponding payment information.
• Maintain vendor W-9's and certificates of insurance.
• Issue 1099 Forms to association vendors annually.
• Electronic review of invoices by treasurer.

Management of Accounts Receivable

• Coupon books mailed to each homeowner prior to the beginning of each fiscal year or upon their purchase of a home within the association.
•  Receive and process homeowner assessment payments daily.
• Respond to homeowner account inquiries by the end of the next business day
• On line credit card or e-check payment options
• Direct Deposit payment options for members.

Management of Homeowner Delinquencies

• If not already in place, we work with the Association to draft a collection policy.
• Monthly review of individual homeowner accounts, draft and distribute any applicable "Late Letters", and charging of any applicable Late Fees
• Prepare and forward account information to Association's collection attorney (upon Board approval) to assist in further collection or litigation activity
• Provide Board of Directors current Homeowner Delinquency Report and comprehensive status reports each month 

Investments

• If not already in place, shall work with the Association to draft an investment policy establishing guidelines toward safe investments.
• In conjunction with investment professionals (if needed), shall provide support and counsel with money market accounts, certificates of deposit, treasury bills, or other safe investments
• Upon receipt of investment account statements, shall update Association's financial reports to reflect current balances in order to provide a more comprehensive representation of Association's financial position

Financial Reports

• We can customize reports to fit your community’s needs.
• We can arrange graphs and spreadsheets for assistance on special projects.
• Prepare and distribute monthly financial statements to the Board of Directors each month, which include:
       1. Manager's Financial Narrative Report
       2. Balance Sheet
       3. Income and Expense Statement (P & L)
       4. Homeowner Delinquency Report
       5. Monthly Cash Disbursement Summary                                                                  
•      6. Bank Reconciliations accompanied with bank statements

Annual Tax Filing and Financial Review

• Prior to the end of the fiscal year, assist the board of directors in the selection of a Certified Public Accountant to perform Tax Filing and /or a Financial Review.  
• At the end of each fiscal year, coordinate with Board's selected CPA by preparing all the Association's financial records, books, and files for their review

Annual Budget Development

• Initial draft of annual budget shall be prepared approximately 90 days prior to the beginning of each fiscal year 
• Upon the Board's approval of the annual budget, the budget and budget disclosure information shall be mailed to the general membership for ratification according to State Statute and the association's governing documents.