Accounting Services
Community Partners will manage the day-to-day financial affairs of your association including assessments, sundry income and delinquencies, maintenance of association accounts, processing of association payables, production of monthly financial reports, and preparation of the annual budget.
Collecting Association Funds
Collect Assessments: special, late charges, interest, rule violation fines, insurance and interest income
Reimburse for sale of goods or services
Collect parking fees, storage, club room and laundry fees
Assist in Collection of Delinquencies
In accordance with Board Policies
Issue Notices of arrearage
Levy late charges and interest
Implement payment plans
Refer Delinquent accounts to appropriate legal counsel
Demand Letters
Notice of intent to file lien and lien
Small or large claim action
Foreclosure
Garnishment, receivership, etc
Maintain Association Accounts
Deposit all funds in appropriate accounts dictated by Board
Operating Account shall be signatory and account balances maintained as dictated by Board
Reserve Accounts shall be signatory and account balances maintained as dictated by Board
Board will receive monthly account statements
Maintain detailed records for various funds within accounts
Recommend reserve account investment options for highest liquidity and interest income
Process balance transfers or funds between accounts as dictated by board
Process Association Payables
Processing of Payroll (if applicable)
Keep detailed records of labor, time cards, time reports, ect.
Issue payroll checks as policy calls for: bi-weekly, semi-monthly, or monthly
Prepare all employee related reports and payroll taxes when due
Pay all association recurring bills
Sewer and Water
Electricity
Maintenance contracts
Heating
Equipment lease or purchase
Taxes and mortgage
Pay bills incurred by association for goods and services provided by venders
Aside from safety hazards, receive board approval for all expenditures over $1000
Maintain Detailed Monthly Financial Reports
Submit to board monthly financial reports detailing income, expenses and budget comparisons
Operating and Reserve ledgers showing monthly balances, activity, starting and ending balances
Detail out all vender payments, invoices and check numbers
Detail out owners receivable/pre-paid report showing Owner assessments due or pre-paid
Bank account statement copies
Assist in Preparation of Annual Budgets and Financial Reports
Present a proposed budget to Board for upcoming year 60 prior to the end of the current budget year
Generate reports and outsource when appropriate for
Annual Financial Statements
State and Federal Tax Returns
Personal Property Tax Return
Prepare and Distribute Statements of Account
Individual unit account statements as prescribed by policy: monthly, quarterly and annually
Statements of account in conjunction with Unit sale or refinancing and collection action as needed
Community Partners will manage the day-to-day financial affairs of your association including assessments, sundry income and delinquencies, maintenance of association accounts, processing of association payables, production of monthly financial reports, and preparation of the annual budget.
Collecting Association Funds
Collect Assessments: special, late charges, interest, rule violation fines, insurance and interest income
Reimburse for sale of goods or services
Collect parking fees, storage, club room and laundry fees
Assist in Collection of Delinquencies
In accordance with Board Policies
Issue Notices of arrearage
Levy late charges and interest
Implement payment plans
Refer Delinquent accounts to appropriate legal counsel
Demand Letters
Notice of intent to file lien and lien
Small or large claim action
Foreclosure
Garnishment, receivership, etc
Maintain Association Accounts
Deposit all funds in appropriate accounts dictated by Board
Operating Account shall be signatory and account balances maintained as dictated by Board
Reserve Accounts shall be signatory and account balances maintained as dictated by Board
Board will receive monthly account statements
Maintain detailed records for various funds within accounts
Recommend reserve account investment options for highest liquidity and interest income
Process balance transfers or funds between accounts as dictated by board
Process Association Payables
Processing of Payroll (if applicable)
Keep detailed records of labor, time cards, time reports, ect.
Issue payroll checks as policy calls for: bi-weekly, semi-monthly, or monthly
Prepare all employee related reports and payroll taxes when due
Pay all association recurring bills
Sewer and Water
Electricity
Maintenance contracts
Heating
Equipment lease or purchase
Taxes and mortgage
Pay bills incurred by association for goods and services provided by venders
Aside from safety hazards, receive board approval for all expenditures over $1000
Maintain Detailed Monthly Financial Reports
Submit to board monthly financial reports detailing income, expenses and budget comparisons
Operating and Reserve ledgers showing monthly balances, activity, starting and ending balances
Detail out all vender payments, invoices and check numbers
Detail out owners receivable/pre-paid report showing Owner assessments due or pre-paid
Bank account statement copies
Assist in Preparation of Annual Budgets and Financial Reports
Present a proposed budget to Board for upcoming year 60 prior to the end of the current budget year
Generate reports and outsource when appropriate for
Annual Financial Statements
State and Federal Tax Returns
Personal Property Tax Return
Prepare and Distribute Statements of Account
Individual unit account statements as prescribed by policy: monthly, quarterly and annually
Statements of account in conjunction with Unit sale or refinancing and collection action as needed