CALIFORNIA ASSOCIATION FINANCIAL MANAGEMENT PROGRAM AND BUDGET PREPARATION
We provide complete professional Accounting and Financial Services for all Homeowners Associations in California large and small.
Protecting Your Association's Money and Accounting for the Association's Funds - a major responsibility and a major concern!
Boards of Directors across the state are realizing the importance of separating the Associations “Administrative” functions from the “Financial” functions; separating the financial functions from all other association activities is the intelligent and sensible way to control the association’s money.
Few will dispute the importance and value of good bookkeeping and accurate accounting records. In today's HOAs, homeowners expect the Board to provide accurate accounting information to them upon request. In the past, many associations have delegated the function of processing the Association’s money with the Management Company. Many Management Companies have total control of the Associations Money. The Association’s Dues are sent to the Management Company, the bills are paid by the Management Company and the Management Company prepares and provides the financial reports to the association. While this has been the generally accepted practice in the past it is highly recommended that the financial functions of the Association be separated from all the other function and the assets be accounted for by an independent, bonded and qualified company. Placing all association functions with a single entity provides opportunities undesirable to the Homeowners Association.
When purchasing or selling property, buyers and sellers expect to know the financial strength and security of the community's assets in which they are buying. The importance of the function cannot be over stated. On a monthly basis, and upon request, the California Association of Homeowners Associations, Inc. will provide total and complete accounting and financial services for your association with state of the art financial information and reports. Using "Generally Accepted Accounting Principles" and on an "Accrual Basis" your association's financial transactions will be recorded and reconciled to your associations bank accounts. The financial report includes: Balance Sheet, Statement of Income and Expense, Check Register, Cash Receipts Register and Homeowners Account Balances. The monthly bank statements received from your bank are attached to complete the "Financial Report". This "Financial Service" is essential for all associations, and especially designed for small, medium and large associations. Please contact our office for information and the cost of this service for your association. Other services such as Budgets and reserve analysis are also provided.
Please contact us for additional information on the cost of this Financial Service.