responsibility remains with the community Board of Directors. Records received in paper format may be scanned to electronic format for retention at a fee agreed upon.
2. Management shall maintain all financial records of the Association and its members during the term of this Agreement.
3. Management shall maintain a current owners' list in accordance with written information supplied to Management. Management shall use its best efforts in keeping this list current with the written information supplied to it. Members in Associations with a PPM website will have access to make address changes online. Management shall record and maintain changes of ownerships upon written receipt of change of ownership with proper supporting documentation. Such transfers of ownership shall be processed at an additional reasonable fee (See Exhibit A). 4. Management shall use reasonable efforts to process transfers of ownership, provided however, that Management shall not be required to discover quitclaims, foreclosures, court orders, or other transfers by operation of law that are not reported directly to Management and there is no obligation of Management to search Official County or any Court Records for such transfers. Management is not obligated to maintain any non-Owner tenant listings. 5. All data and records created, developed, and/or maintained by Management for the purpose of managing the Association affairs shall become and/or remain the sole property of the Association. Such data shall be maintained by Management in a state wherein Association business may be transitioned to another management company within fifteen (15) days of Management's termination. Records shall be signed for and picked up at Management's office solely by a member of the Association's Board of Directors or a duly authorized agent thereof.
G. Financial Responsibilities.
1. Management shall assist in preparing for the Board of Director’s the pro forma operating budget, as well as help coordinate an annual review of the reserve account requirements, as set forth and required of Association's Board of Directors. 2. Management shall assist the Board of Directors in the Association's selection of an Auditor (CPA) to prepare the Annual Financial Report. Management shall grant access to the Auditor (CPA) for all customary financial records of the Association. It is understood that the Auditor shall be given a copy of said records to Auditor's place of business for preparation of the Financial Report. Auditor (CPA) shall be responsible for the preparation of federal or state tax returns, audited or reviewed financial statements, and payroll tax reports and filings, and Management
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VRC PPM Proposed Contract 2022 2/4/2022
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