CALIFORNIA CONDOMINIUM AND ASSOCIATION
FINANCIAL MANAGEMENT PROGRAM
We provide complete professional Accounting and Financial Services for
all Homeowners Associations in California large and small.
•Self Managed Associations
•Large Associations
•Small Associations
Protecting and Accounting for the Association's Money - 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.
California Association of Homeowners Associations, Inc.