Financial

Financial

    

1.   Assist Board with preparation of annual budget based on realistic projections.  Send out

     proposed budget to all owners or phase boards 30 days in advance of budget adoption meeting.             

2.   Coupon booklets will be sent to all owners for payment of their monthly assessments.  When

     coupon books are utilized, we also provide a statement to any owner having an outstanding

     balance after the due date for the Association.

 

3.   Vista Property Management currently utilizes a lock box system provided by Barrington Bank to

     process the monthly assessments.  This is a benefit to your Association as payments are

     processed and deposited to your bank account on the same day they are received at the P.O. Box.

     This provides the Association access to their money in a more timely fashion.

 

4.   Provide for follow-up on delinquent assessment collection and follow through on Association's

     delinquency procedures.  Send notices of delinquency of assessments.

 

5.   With Board approval, communicate with Attorneys on proper procedures to be taken with

     delinquencies. Prepare the recap of delinquent assessments for court proceedings.

 

6.   Establish and monitor bank accounts.  Your Association will have its own checking account and

     your bills will be paid directly from that Account. There is no co-mingling of funds and no

     Management general reimbursement account.  Interest on your funds is paid directly to you.

 

7.   Association disbursements to be made in accordance with budget and on voucher systems. The

     assigned Property Manager reviews every invoice for your development and codes it to the

     budget.

 

8.   Post and maintain general and subsidiary ledgers.  Furnish detailed financial information on a

     monthly basis, i.e., Monthly Statement, Delinquency Report, etc.

 

10.  Provide reserve and investment reports.

 

11.  Report on the Association's expenditures versus budget projections on a regular basis.

 

12.  Audit and prepare all invoices for payment.  Call vendors for explanation of unusual or

     questionable invoices and report to Board.

 

13.  Disburse checks monthly to vendors from invoices approved by the Board.

 

14.  Send paid bills to designated Board member if requested.

 

15.  Work with accountant on yearly compilation, review, or audit.

 

16.  Have accountant prepare tax returns.

 

17.  Prepare payroll for employees in conjunction with an outside payroll processing firm.

 

18.  Prepare year-end financial report for unit owners.

 

19.  Reconcile the books.

 

20.  Management guarantees to have disbursement checks sent to board members for signature so as

     not to incur any late fees.  Should this not be possible due to time constraints beyond

     Management's control, Management agrees to sign the check with Board approval and mail to

     avoid late fees.

 
 
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