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Monthly Billings:
- Distribute computerized monthly billings to each homeowner. Itemize current monthly dues,
prior balances, late fees, special assessments, fines and other charges.
- Collect, deposit and account for miscellaneous income (i.e., laundry, clubhouse rental fees,
keys, etc.).
- Maintain accurate records of receipts and expenses.
- Prepare monthly financial statements which include:
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Financial Statements:
- A. Balance Sheet.
- B. Income and expense statement showing monthly and year-to-date
amounts compared to budget with variances.
- C. General ledger.
- D. Check register.
- E. Status report of monthly maintenance fee income (Accounts receivable).
- F. Reconciled monthly bank statement.
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Annual Budget:
- Assist in establishing the annual budget, and for independent Reserve Study.
- Promptly pay Association's payables.
- Provide for individual checking and savings accounts for each property, with dual Board
signatures, or one Board plus management company signatures required.
- Follow through with collection of any outstanding monies owed to the Association.
This includes the filing of NOD'S and liens as provided in the CC&R's in accordance
with the Association's delinquency policy.
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To download a printable brochure with sample reports...
click image
<< Brochure requires free Adobe Acrobat Reader...click image
