Financial

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FINANCIAL MANAGEMENT

  • Financial Statements — Provide Board Members monthly financial statements including balance sheet, budget performance, income statement and accounts receivable recap. Prepare monthly bank reconciliations for each bank account. Provide year-end financial statements to all owners.
  • Accounts Payable — Disperse 10checks twice monthly on the 10th and 20th. Obtain designated Board Member’s approval of non-budgeted items. Prepare proposed operating and reserve budgets. Assist the Board in planning for the upcoming year.
  • Assessments — Maintain a roster of current owners and renters. Maintain a receivables record. Take appropriate steps to collect delinquent association fees including fines as established by the Board. Advise the Board on delinquent accounts. With Board approval, contact unit owners with a notice of intent to file a lien as required.

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