Financial services we provide for your Association:
- Provide personalized financial service per community
- Present comprehensive financial reports formatted as you desire, including balance sheets, income statements, general ledgers, accounts payable, check disbursements, and income and expense budgeting
- Reconcile all accounts, including checking, savings, money market, etc.
- Monitor investment funds
- Bill all assessments and track accounts receivable
- Perform accelerated collection services where authorized
- Send delinquency notices and violation letters
- Oversee escrow demands
- Manage electronic funds
- Assist the Client in the development and preparation of the annual operating budget in accordance with California Civil Code.
- Prepare a mailing to owners of the approved budget in accordance with California Civil Code.
- Prepare and submit to Client a Year To Date Budgeted versus Actual Income and Expense analysis on a monthly basis.
- Prepare and maintain books and records necessary to produce Financial Statements in accordance with generally accepted accounting principles.
- Prepare and submit to Client a monthly financial summary of all receipts and disbursements.
- Receive, review and approve vendor invoices and other bills, and prepare checks for signature, payment and subsequent mailing.
- Collect all assessments as they become due and payable, and deposit all cash receipts in the Client's bank accounts, maintained at an FDIC insured banking institution.
- Maintain a record of homeowners dues and receipts, and provide the Client with a monthly delinquency listing. We will send monthly arrear notices as well as notices of default, and send delinquent files to legal counsel for liens to be filed.
- Assist the Client's legal counsel, as necessary, to initiate required legal action consistent with the Association's By-Laws, Covenants, Conditions and Restrictions.