Preparation of monthly financial statements, including: balance sheet, income statement, bank reconciliation report, budget comparison report, accounts receivable report, accounts payable report, check register, reserve fund reporting, and general ledger.
Financial Management
- Annual budget planning and ratification
- Income tax filing assistance and assist the associations auditor in obtaining records and information necessary to complete a financial audit
- Assessment billing to homeowners through coupons or statements in accordance with adopted frequency (annually, quarterly, or monthly)
- Electronic record retention and destruction in accordance with policies of Association Processing association invoices and electronic web-based method for review and approval by the Board
- Accounts receivable assistance in accordance with Association policy
- Cooperation with Association’s legal counsel on collection and other legal matters
- Attend court hearings on behalf of the Association for legal matters when necessary and requested by the attorney
- Provide account status, lender questionnaire, or other documents necessary for resale/refinance transactions (additional fees apply for parties to the transaction).
General Ledger
- Responsible for reconciling all financial processes, including bank statements
- Responsible for producing financial statement reports reflecting each entry (Detailed General Ledger) and the compilation of entries (Balance Sheet and Income/Expense Report, etc.)
- Financial Statement reports include detailed reports and statements supporting the Balance Sheet (i.e., Delinquency and Prepaid report stating the detail of each homeowner balance which in total matches the accounts receivable on the Balance Sheet)
Accounts Payable
- Responsible for entering and processing all disbursements
- Position is restricted from Accounts Receivable, Accounts Receivable Processor, and General Ledger
- Before checks are signed and disbursed, entered invoices are reviewed by Accounts Payable, General Ledger, Association Management, and Association
- Board of Directors Checks are signed by Association Board of Directors. If check is to be signed by Service Plus Community Management staff, the check and invoice is scanned to Association Board of Directors to receive written approval for signature of payment.
Accounts Receivable
- Responsible for homeowner account reconciliations and information processes
- Restricted from applying cash receipts, making adjustments, etc. This is the responsibility of the Accounts Receivable II.
- Also restricted from Accounts Payable and General Ledger Payments, per company policy, are not to be received at Service Plus Community Management, but rather at the association bank lock box (payment processing center).
- Homeowner requests and changes are required to be in writing.
Accounts Receivable II
- Responsible for entering/posting all receipts, adjustments, etc.
- Position is restricted from Accounts Receivable, Accounts Payable, and General Ledger
- All entries, adjustments, etc. are required to have backup in writing.
Bank Signature
- Association Managers and other regular staff members are prohibited.
- If allowed and desired by Association Board of Directors, the owners of Service Plus Community Management will be a signatory of bank accounts other than operating checking account.
Communication is a vital aspect to all areas of service to Service Plus Community Management.
Provide information regarding current legislation and legislative trends.
Contracts
- Work in conjunction with the Board to draft RFP’s and scopes of work for various projects to include bidding assistance and contractor interviewing/selection
- Coordinate with Association Contractors to complete projects Capital improvement support and expertise
Regulatory Filings
- State, County and Local corporate business license/Secretary of State/DORA filings Regulatory compliance in relation to applicable laws.
Records Retention & Legal Support
- Maintain a listing of the names and addresses of current members of the Association
- E-Document storage for all association documents
- Document retention, purging and destruction assistance in compliance with association policy and Federal/State/Local law
- Regulatory compliance assistance in relation to applicable laws
- Provide information regarding current legislation and legislative trends
Attendance at board, annual or special meetings of the association Provide board packet in advance of board meetings.
- Provide board packet in advance of board meetings which includes: Agenda, Minutes, Financial Reports Association Business, Legal Correspondence and Reports, Work Order/Violation/Architectural Reports, & General Correspondence
- Scheduling of meeting location and times
- Schedule and coordination of member’s meetings
- Notification of meetings as prescribed in the Association’s documents
- Draft minutes of the meetings
Each community is different; but all have important regulations that need to be enforced.
- Assist in the enforcement of Association governing documents
- Community inspections including violation and work order reports and solution implementation
Service Plus Community Management handles maintenance and service calls.
Obtaining adequate and appropriate insurance for your community provides peace of mind in case of the unexpected.
- Assist with obtaining necessary insurance policies as required by the governing document and State Law
- File insurance claims and work to resolve claims with parties involved
- Large loss claims management expertise
