ACCOUNTING 101 Continued ….
ACCOUNTING 101 Welcome to Accounting 101!
The Controller is in charge of A/R, A/P and all accounting functions. The monthly financials are produced through this office including the Profit & Loss Report, Balance Sheet, Working Capital, Forecast, etc. for Operating, Capital and Reserve. Reconciling all bank accounts, journal entries and reviewing all the work processed by A/R & A/P contribute to the reports. The budget process is done annually. The declining balance is entered in a shared drive for all departments to see how much they have available each month per the budget to control costs. Responsible for payment of prepaid federal and state taxes, list of assets, legal fillings and ensuring the annual CPA audit is adhered to per GAAP. Recently overseeing Activities and the Bar has been added to this position. H/R handles all employees, new hires, processing background checks, all state and federal required paperwork and drug testing. Payroll is every other week with verifying hours, vacation, sick and other information. All employee files and HIPPA files are stored in the Controller’s office. All health insurance benefits, workers comp and 401K are handled in this area along with annual audits. Creates SOP (Standard Operating Procedures) for most departments. IT trouble shoots all computer issues, either hardware or software. All communication with our third-party networking company is handled through IT along with all updates. Miscellaneous Accounting orders office supplies for the entire resort, organizes the annual employee party, operates our employee safety bingo. B RENDA M EJIA , Controller
What does Accounting do at ORPS? Accounting does much more than collect your dues and pay the association bills. We are comprised of several areas, A/R (Accounts Receivable), A/P (Accounts Payable), General Cashier, Controller, HR (Human Resources) and IT (information Technology). A/R is in charge of the owners’ accounts. We bill 1,213 owners the monthly assessment fee, late fees and interest. We collect payment via checks, cash and ACH. ACH is Automated Clearing House. This is the easiest way for owners to pay each month. You sign up and we charge your bank account each month on the 8 th -10 th . An owner with a USA bank account (9-digit routing number) can sign up. Canadian banks have 8-digit routing numbers and can’t be processed through ACH. There is no charge for signing up and it makes our process smoother, faster and more efficient. A third-party vendor, Paylease, is available online for credit card payments. A/R maintains the ledger and handles all information forwarded to attorneys if there is a collection process. Owner information is monitored with updates of address, email and telephone numbers. Ownership changes are also done in A/R that includes knowledge of real estate documents such as grant deeds and statement of status and handles the process of escrow through title companies. We educate new owners on our processes and collect transfer fees. We collect fines, rent on contracts, commission on sales, commission on rentals, payments for lost keys and citations. A/P handles all the invoices for the entire resort which includes the PO (Purchase Order) process and reconciling credit card statements and other vendors. We process approximately 150-200 checks per month with all documentation attached that is filed and kept for many years. A/P ensures all necessary signatures and PO process is accurate and each expense is coded to the correct GL (General Ledger) code with the correct department. A/P assists all committees with check requests. A/P also accrues expenses at the end of each month to ensure proper allocation of expenses. A/P handles ORPS’ operating account along with Capital and Reserve checking accounts. All Capital and Reserve expenditures are copied in additional folders for review along with Excel spreadsheets for all reserve projects. General Cashier does the daily work related to revenues. This includes collecting all the cash drop deposits from all the departments, printing all the JONAS reports, credit card reports and any other paperwork. This is all reconciled to ensure every department has turned in payment for all the charges and the monies are deposited into the bank through automatic deposit, armored guard pick-up or credit card via online. Copies of all documents are saved and filed for many years. We monitor laundry cards and the equipment in the laundry room. General Cashier also handles all employee cash banks and petty cash. All company credit cards are monitored and secured in the General Cashier’s safe as well as other documentation. General Cashier processes ORPS’ Bingo deposits, bank reconciliation and legal filings.
HEALTH & FITNESS COMMITTEE
We had a fantastic turnout with 97 people attending D R . B ROSSFIELD ’ S health talk last month. Thank you to FMCA for co-hosting the event.
Health & Fitness Committee will be sponsoring the
Health and Wellness Fair,
March 9 - 9AM-12PM at La Palma Please come and check out what our vendors have to offer. Also the bloodmobile will be available in the front parking lot for donating blood. Don’t forget to sign up on the board if you need help learning how to use the equipment. We ask that you do so at least 24 hours in advance.
C HAVALLA L OPEZ -B ASSHAM , Chair
Continued on next column ….
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