Financial Services
The following is a list of Financial Services offered for each property. The scope of services will be customized to meet the needs of each individual association.
- Maintenance of bank accounts and investment accounts of the Association.
- Provide options for investments for association funds and manage transfer between accounts.
- Assist in the preparation and establishment of Associations’/Community’s reserve budget. Project for capital improvement/replacement projects and determine if reserves are being accumulated sufficiently to handle upcoming expenses.
- Preparation of annual operating budget through cash flow analysis based on previous revenue collection and past expenses while anticipating contractor and utility increases.
- Establishment of billing and collection procedures, inclusive of billing each homeowner for their current assessment amount, preparation of delinquent statements and 30 day demand notices on outstanding accounts receivables. Managers and accounting personnel participate in the collection of delinquent accounts through working individually with homeowners and attorneys. All fees incurred in the collection process will be billed back to the appropriate homeowner account.
- Preparation of monthly and year-end financial statements and other customized reports as requested by the Board of Directors.
- Obtain nominal value on property owned by the Association.
- Preparation of 1099’s, franchise tax returns, IRS returns.
- Assistance in audit as requested by independent CPA’s for the Association.
- Provide maintenance fee quotes upon request.