Duties Performed for Community Association Management

Accounting Services

A Perfect Check and Balance System

Maintaining complete, accurate, and timely association financials is a cornerstone of our firm. We produce all the necessary financial information your association will need to make sound financial decisions.

From developing Pro-Forma operating budgets to reserve funding, our firm has the resources to protect and maintain the financial health of your association. As part of our services we provide the following financial reports on 

both an interim and annual basis:

• Accounts Receivable Report

• Balance Sheet

• Bank Reconciliation of All Accounts

• Budget Comparison Report

• Cash Disbursement Report

• Operating Budget

• Aging Delinquency 

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ACCOUNTING SERVICES INCLUDE

• Prepare annual operating budget with Board input

• Send out billing for assessments

• Send delinquent accounts to collections based on the structure of the Board

• Prepare and deliver monthly financial statements to the Board

• Collect assessments – electronic forms of payment are accepted

• Make regular deposits in an FDIC insured bank

• Accurately apply all money received to homeowner accounts

• File annual registration with the Secretary of State

• Assist the CPA in the association’s Federal and State income tax filing

• Work with attorneys on all collection accounts

• Work with attorneys to file liens on delinquent accounts when necessary

• Receive and verify the accuracy of all invoices

• Pay all invoices in a timely manner

• Maintain records of re-sales in the community

• Send out closing letters and work with closing attorneys to ensure the association is paid all outstanding balances at every closing

• Record bankruptcies and foreclosures in the community

• Assess fines for covenant violations as needed

• Maintain all ACC Forms, seek approval/denial, send homeowner approval/denial letter

• Keep files for association