Financials Only Management Services

This option is available for hands-on Boards or associations with highly professional on-site staff capable of assisting the Board in the governance of the community.

Maintain Association Books and Accounts

• Maintain all Association accounts, including; checking, savings and reserve accounts.
• Allow Board Members on-line access to review accounts.
• All checks over the amount of $2,500.00 shall require two signatures to be valid.
• Any disbursements from the reserve accounts shall bear, at a minimum, one signature of a Board member.
• Online access for owners to review accounts (fee basis).
• Maintain Association financial records as required by statute or "best practices".

Collect assessments (on whatever schedule the association uses)

• Annual Coupon books or Statement mailed for a fee assessed to the homeowner.
• Late notices sent per Association's governing documents and collections policy.
• Certified letters for delinquent accounts.
• Coordination with Association attorney for collections (fee basis).
• Lockbox service (no charge).
• ACH (automatic payment deduction) (no charge).
• Credit card payment option (bank charge per transaction).
• On-line “E-Check” option (no charge).

Review and pay invoices

• Code according to association's budget.
• Compare invoice to contracted price.
• Adhere to spending limits authorized by Board in our management agreement.
• Provide monthly report of disbursements to the Board.

Coordinate Investments

• Deposit association funds, in accordance with an approved reserve schedule, into interest bearing accounts approved by the Association and maintain such accounts for the benefit of the Association.
• Provide a monthly report of such investment activity, showing specific amounts deposited, and interest earned on each account to the Board.
• Coordinate with Association's investment advisor for large reserve amounts.

Financial Reporting

• Prepare monthly and year-end financial reports on an accrual basis, per GAAP, and in a format accepted by independent auditors.

Audit and Tax Filing