FINANCIAL SERVICES AND REPORTING
We generate monthly financial statements that include a balance sheet, profit and loss comparison to budget, check ledger and general ledger. This is distributed to the Board of Directors each month. The budget is input into the system as adopted by the Board of Directors.
The accounts payable are approved by the Manager for payment twice per month. Two signatures are required on all checks. Assessment Statements are sent to the owners prior to the first day of the month. Payments are made directly to a lockbox service, we receive a list of each days' payments for posting to the system. At the end of each month we receive the bank statement and reconcile the account with our books. Delinquent members are sent reminder notices until they become delinquent to a predetermined amount, at that point they receive, via certified mail, a notice of intent to lein their property if not current within 10 days. Our bookkeepers are capable of handling calls on any financial matters. We work with a no-cost, third party collections agency, when necessary, to collect severely delinquent assessments.
Our financial system is maintained on a Server-based, PC-Network with PDS-ADEPT software, redundant printer capabilities. Our Managers use a PC-Network with look-up access to the bookkeeper database.