CALIFORNIA CONDOMINIUM AND ASSOCIATION
FINANCIAL MANAGEMENT PROGRAM AND BUDGET PREPARATION
We provide complete professional Accounting and Financial Services for
all Homeowners Associations in California large and small.
CALL: 951-634-9266, 909-931-7552 or EMAIL:
rsm@calassoc-hoa.com or rich@calassoc-hoa.com
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 Association's “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 to the Management Company. Many Management Companies have total
control of the association's 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 functions 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 overstated.
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 association's
bank accounts. The financial report includes a 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 specially 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.
CALL: 909-931-7552 or 951-634-9266