Accounting & Reporting

The following is a list of the type of Accounting Services provided to our clients:

  • Assist the Association in the preparation of an Annual Budget, which is generally based on prior operating expenditures, estimated future expenses and required capital replacement reserves
  • Prepare and obtain appropriate signatures, for checks
  • Collect into an Association escrow account all reimbursed Association monies, including monthly maintenance fees and Special Assessments, and maintaining all records of incoming and disbursed funds (Special Assessment projects are not included in the management fee)
  • Maintain checking, savings, and other banking accounts in the name of the Association.
  • Notify Owners of any delinquency and keep the Board informed
  • Implement collection policies, ensure the collection of the delinquent Assessments as determined by the Board
  • Processing non-paying accounts to the association attorney
  • Provide monthly and year-end financial reports prepared on a modified accrual basis, which include all income and expenses and reflect the net
  • Cash position of the Association, and providing them to any Owner at their request
  • Provide access to Certified public accountants