Financial Management Services

In Association Affairs Management, we provide a centralized hub for your association's essential operations. This includes offering a designated place of business and a designated representative to facilitate communication and coordination between the association and various professional service providers. We take responsibility for managing corporate records books and minutes, ensuring that a complete and organized history of the association's decisions and actions is maintained. Our services also encompass records storage, which enables easy access to important documents when needed. Furthermore, we facilitate owner appointments for the inspection of books and records, ensuring transparency and compliance. We serve as a liaison between the association and legal counsel, registered agents, or other professional service providers, overseeing the proper preparation and filing of necessary documents in accordance with applicable laws.

Our Financial Management services cover the complete spectrum of financial operations. We provide robust accounting and financial software to streamline financial processes. This includes managing accounts payable and accounts receivable, ensuring that bills are paid accurately and revenue is collected efficiently. We oversee the general ledger, maintaining meticulous records of all financial transactions and accounts. Additionally, we help prepare a proposed annual budget and forecast to assist the association in financial planning. Bank account maintenance and reconciliation of monthly bank statements are part of our financial services, ensuring financial accuracy. We manage disbursements, perform required document processing, generate statements of account, and facilitate cash management. Furthermore, we ensure timely reporting with standard monthly financial reports by the 20th day following month-end and standard year-end financial reports by the 45th day following year-end, each with standard account codes.

In the realm of Statements of Account & Resale Process Management, we offer an efficient and organized approach. We provide a Statement of Account/Resale Process Management Database, streamlining processes for answering inquiries from tax service, title companies, mortgage companies, and homeowners. Our goal is to simplify and enhance the management of financial documents and communication in this aspect of association management.

Transfer Process Management is another integral part of our services. We offer a Transfer Process Management database, manage plat and lot/unit owner databases, and ensure accurate and efficient updates of association records for new owners. Additionally, we generate transfer documentation and provide responsive answers to lender questionnaires, ensuring a smooth transition of ownership within the association. Our goal is to provide a comprehensive and streamlined process for all transfer-related activities.

Our Refinance Process Management services aim to simplify and streamline the refinance process for associations. We offer a dedicated database and provide responsive support by answering inquiries from tax service, title companies, and mortgage companies. We coordinate subordination agreement requests and generate the necessary refinance documentation. Our goal is to ensure that the refinance process is efficient and well-managed.

Within our Tax Management services, we offer an extensive system to efficiently oversee property taxes. This encompasses the maintenance of up-to-date plat information and property tax specifics in their appropriate jurisdictions. We also play a pivotal role in the preparation and organization of data necessary for federal or state tax return filing, facilitating coordination with the association for required signatures, and managing property tax accounts, parcel identifiers, and invoice payments. Additionally, we provide valuable assistance in the preparation and distribution of W-2s, 1099s, and 1096s, ensuring that all tax-related procedures are well-organized and streamlined.

Insurance Management is a crucial aspect of association operations. We assist in the application process for various insurance policies, including liability, property, worker's compensation, Directors & Officers, and Errors & Omissions, as requested. Additionally, we maintain a manager Fidelity Bond, as required by the association or statute, to ensure financial security. We also oversee the maintenance of association insurance policies, including keeping track of expiration dates and renewal requirements. Our goal is to simplify the management of insurance-related matters and ensure the association's protection.

When it comes to welcoming new owners, we ensure a smooth and welcoming experience. We initiate a welcome letter, maintain and update welcome packets, or make essential information available online for new owners. Additionally, we facilitate the distribution of access cards/keys to amenities as appropriate, ensuring that new owners have access to the association's facilities. Furthermore, we provide an alert to the board about new owners, with this information made available online, ensuring transparency and communication in the association's new owner welcome process.