7.4 Seabreeze will assist the Association ’ s auditors (as appointed by the Board) in completing any and all authorized audits or corporate tax documents.
7.5 Seabreeze will inform the Board at the next regularly scheduled Board meeting following discovery of a substantial variance from the Association ’ s budget.
7.6 Seabreeze will pay all bills authorized by the Board from Association funds. Seabreeze is authorized to pay any and all of the following, without the Board ’ s prior approval:
7.6.1 Regular monthly bills from utility companies;
7.6.2 Invoices for regular Association contracts for monthly services;
7.6.3 Bills for services that the Board has directed Seabreeze, in writing, to pay, and;
7.6.4 Bills for services specifically authorized in the minutes.
7.6.5 Seabreeze will also make payments with Association funds required to maintain the following, if applicable:
7.6.5.1 Premiums on the Association ’ s fidelity bond;
7.6.5.2 Medical Insurance for Association employees;
7.6.5.3 Unemployment taxes for Association employees;
7.6.5.4 Social security taxes for Association employees;
7.6.5.5 Premiums on worker ’ s compensation insurance required by the Labor Code for Association employees;
7.6.5.6 State Disability Insurance premiums for Association employees;
7.6.5.7 State and Federal income tax for Association employees (withheld from employee ’ s paycheck); and
7.6.5.8 Any other applicable payroll taxes.
7.7 Each month Seabreeze will distribute a financial statement for the prior month to members of the Board. This statement will include copies of:
7.7.1 The Association balance sheet;
7.7.2 The Association statement of income and expenses (month and year-to-date);
7.7.3 A statement of income expenses verses budget;
7.7.4 A schedule of cash investments, reserve allowances and year-to-date reserve expenses; and,
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