Fiscal Management

Financial Record Keeping and Reporting

  • Make maximum use of automation and electronic means to perform financial functions to include electronic bill payments, automatic payment of assessments (ACH), online payment capability, etc. etc. All financial records will be posted and password protected on the Association's web page for ease of communication with members.
  • Utilize professional commercial accounting software for record keeping.
  • Prepare, review and distribute to the Board of Directors via email the monthly financial statements summarizing that period’s income and expenses as itemized in the budget.
  • Maintain the Association’s accounting records in a manner that will assist in preparation of an annual audit and appropriate tax returns by a CPA firm.
  • Process payment of all of the Association’s bills utilizing automated and electronic processes to maximum extent.
  • Handle all correspondence related to business matters of the Association.


  • Assist the Board of Directors in creating the Association’s annual operating budget based on past history and all known projected expenditures.
  • Assist in the calculation of reserve allocation for future needs
  • Prepare an annual letter to all homeowners reflecting the adopted budget.
  • Advise the Board during the year regarding the Association’s performance pertaining to budget plans and make recommendations for corrective action.


  • Collect monthly/quarterly/annual assessments and any special assessments from each owner
  • All owner assessments collected through electronic means including automatic bank withdrawal/payment via ACH or online payments through the association web page by electronic check or credit card
  • Assist Board of Directors in creating policy for late payment penalties, collection procedures, and ultimately determine necessary liens and foreclosures.
  • Perform late assessment policy and if need be, turn over all lien and foreclosure matters to Association’s legal council for final collection.

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