Financial Management
- Preparation of monthly financial statements, including:
- Balance Sheet
- Income Statement
- Income Statement Budget Variance
- Detailed Check Register
- Delinquent Accounts Receivable
- Assist in opening and maintaining bank accounts as directed by the Board of Directors.
- Perform ongoing budget analysis and continually monitor cost trends in the area to avail the Association of the most economical operational practices.
- Maintain a computerized corporate ledger which includes all receipt and disbursement information.
- Review billing for accuracy in costs and goods received, making out checks for approved invoices.
- Maintain a check register and payable journal while performing regular bank reconciliations.
- Prepare and submit to the Board, a proposed annual budget and assist in the preparation and dissemination of the final budget.
- Dues and Assessments:
- Maintain account ledgers and history for each homeowner.
- If required by the Board, secure the printing and mailing of billing coupons / statements to all unit owners.
- Upon request, provide individual Homeowners with the status of their own account and coordinate the solution of any discrepancies that may occur between the official record and a Homeowner's record.
- Generate and mail out the correspondence necessary to bring delinquent accounts up to date and if unsuccessful in collecting, recommend the appropriate legal action.
- Taxes and Audits
- Review and maintain copies of annual financial statements.
- Assist and cooperate with any outside auditing firm that may be retained by the Association.
- Prepare and file annual income taxes, or, at the Association's request, provide such information necessary for a third party to process.
- Prepare, process, and distribute IRS Form 1096 and 1099's at the end of each calendar year for tax purposes.
Property Management
- Landscaping, Amenitities, and Common Areas:
- Solicit bids for special programs / contract services and implement and supervise the completion of such programs; reporting the progress of same to the Board as required.
- Prescribe long-range maintenance programs and provide input to the Board as to alternative programs for solution to specific problems.
- Make arrangements for maintenance activities as shall be deemed necessary by the Board of Directors.
- Deed Restriction Enforcement
- Visit property as necessary as may be required to meet with homeowners or vendors and to make determinations about the physical state of the property.
- Receive, advise and process work order requests by Homeowners per guidelines laid out by the Board of Directors.
- Assist in development and enforcement of property rules and regulations.
- Respond to homeowner and external inquiries during normal business hours via telephone, mail, and/or email in a timely manner.
- Respond to emergency requests 24 x 7 by telephone.
Administrative Services
- Record Keeping:
- Perform administrative record keeping.
- Maintain communication and correspondence with property owners
- Maintain current files pertinent to the Association and the owners. Store archived files and records as directed by the Board of Directors.
- Meetings and Proxies
- Attend all scheduled meetings of the Board of Directors or Homeowners per contract.
- If desired, conduct the Annual Meeting of the Association.
- Prepare, send, and inventory proxies and votes as directed by the Board of Directors.
- Upon request, furnish Board members with the latest in community association operational information.
- Review and assisting with the placement of insurance. At the direction of the Board, obtain premium quotations for such insurance as shall be deemed necessary.
- Research property improvement programs for discussion with property owners and/or Board of Directors.
- Legal Filings:
- Provide input to the Board as to changes in State and Federal HOA Laws or rules.
- Prepare and file on behalf of the Association all legal reports required under Federal and State Law.
- Secure, on behalf of the Association, all necessary permits for operation of association facilities.
- Consultations:
- Assist the Board of Directors in dealing with the Homeowner's affairs and provide input as to prudent courses of action.
- Advise Board of Directors regarding Board Meetings and Member Meetings including notice preparation and mailing, agenda development, and meeting guidance.
- Act as agent for the Board of Directors in carrying out each program it deems necessary regarding the common activity of the Association.
- On behalf of the Association, and at their direction, attempt to secure compliance with the Association's Rules and Regulations by all owners, guests and lessees.