Financial Responsibilites

INCLUDED IN PER UNIT FEE
 
Receivables
Collect regular assessments
Collect additional or special assessments
Provide program for ACH collection of fees
Issue notices to delinquent Co-owners
Provide monthly report on delinquent accounts
Work in conjunction with Association attorney
to collect overdue assessments

Payables
Review invoices prior to payment
Code invoices according to chart of accounts
Process payment of invoices weekly
Process reserve deposit monthly
Obtain competitive rates for reserve investments

Reports
Prepare monthly financial statement to include re-cap of overall financial
activity
Reconcile bank & reserve accounts monthly
Provide monthly analysis of expenses
Coordinate with auditor for year-end statement and preparation of tax returns
File annual State Corporate report
Preparation of 1099 tax forms

Budgets
Prepare preliminary draft of operating budget & chart of accounts
Obtain competitive services quotes to assist in calculating expenses
Provide narrative of budget line items
Assist in preparation of plan for long-term expenses