Financial (All Accounts)
Financial service includes:
Collect maintenance fees, late fees and special assessments; deposit them in checking, savings or other accounts specific to the property and maintain comprehensive records thereof. Scan each individual check to be deposited directly into client account with the utilization of a comprehensive deposit ticket program, reducing error factor. Establish, as required, individual checking and sinking fund reserve accounts.
Set up investment accounts when requested renewing same as directed.
Mail delinquency notices to Owners in arrears and make every reasonable effort to collect delinquent accounts.
Where applicable, assist with the investigation of different forms of financing or mortgage funding as requested by the covering Board.
In the event of failure to collect delinquent accounts, and at the direction of the Board, pursue payment through collection agencies, attorneys or any other Board- authorized method.
Produce monthly financial reports detailing income and expense utilizing an approved operating budget for cost analysis and budget totals.
Work with the properties accountant of CPA firm to assist with the year end financial statement.