into Appfolio as well. 20. Provide onsite inspection for deed restriction violations and who conducts inspection? Yes, Management. 21. Experience with short term and long-term rental issues within a condominium community Send out violation letters, set up hearings, and manage fines Yes, have extensive background in dealing with violation of short term rentals. 22. Review and recommend modifications to HOA documents to meet Davis-Stirling and current needs? (i.e. bylaws, resolutions, etc.) Yes, we keep up to date with all new laws affecting Homeowners Associations. We can also provide Board Member training sessions.
Expected Financial Services:
1. Who performs financial management? We handle our financials in-house. 2. Describe the credentials of the accountant and/or accounting staff. Our accountant has a two-year degree in accounting. She worked for a CPA for 20 years and has a vast knowledge of all aspects of accounting. 3. Does the same accountant or staff person handle the day-to-day financial data? Are financial statements reviewed prior to submission to the board? Yes, financials are reviewed, and a financial coversheet is created prior to the package being sent to the Board. Any corrections to financials can be made in the same month. 4. List accounting software used in preparation of HOA financials Appfolio 5. On what date each month are financial reports completed and provided to the board? Between the 15 th and 20 th of each month. Are financial reports electronically archived and delivered to the board? Yes. 6. List financial reports produced on a monthly basis List financial reports produced on an annual basis Are federal tax returns filed on or before April 15? Any monthly bank charges for association accounts? Monthly reconciliation of all bank accounts? On a monthly basis a Balance Sheet, Income Statement, reconciliation of all bank accounts, cash receipts, cash disbursements and aged owner balances reports are prepared and included in the monthly financial reports. Annually a full year general ledger is prepared. Taxes are prepared by third party CPA on or before March 15. There are no bank charges for Association. 7. When are expenses posted? Expenses are posted weekly when received. 8. Invoice backup provided (i.e. receipts, etc.)? Monitor expenses for unexplained increases? Monthly schedule of accounts payable provided? Yes, all invoices are paid through Appfolio with Board approval. Expenses are monitored monthly, and any credits or overages will be brought to the Boards attention. Monthly schedule of accounts will be provided. 9. What methods are available for collecting assessments? (i.e. lockbox, manually, ACH, credit card) Capable of collecting quarterly/annual assessments? All of the above, and yes, we are capable of collecting assessments quarterly and annually. 10. What is process for handling delinquent accounts? How are collections of overdue accounts handled? Monthly delinquency report provided? We would follow the Association’s Collection Policy and work with the collections attorney. We will provide a monthly delinquency report with notes on what steps have been taken and when for each delinquency. 11. Annual budget creation for operations and reserve? Yes, we will provide a draft for the board and Committee, and work with them on completing the finalized budgets.
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