ADMINISTRATIVE SERVICES

COMMUNICATIONS

            Address Board Members, Committee Members and Unit Owner inquiries, typically in writing, regarding policy or procedures.

            Maintain incoming correspondence from residents, contractors, attorneys, engineers and any other parties related to the Association.

            Develop and coordinate communication to Owners/residents, including routine mailings or special notices;

            Act as the liaison with local and state government officials regarding Association needs and government regulations;

            Act as the spokesperson, if requested, on behalf of the Association, with the purpose of enhancing the public image and perception of your community.

MEETING COORDINATION

            Prepare all standard reports for monthly Board meetings, and distribute same at least five (5) days prior to meeting date:

            Detailed Agenda;

·         Monthly Management Report;

·         Action List Updates;

·         Inspection Reports;

·         Comparative Analysis of all bids for services and supplies;

·         Copies of correspondence received and sent by management throughout out the month;

            Attend Board meetings;

            Provide, if requested, independent administrative personnel, for the purposes of taking minutes at Board meetings;

            Distribute Board Minutes to all Board Members or other designees;

            Immediate follow-through by Management of requests made by the Board, with follow-up communication to President or designated liaison;

GENERAL

            Processing of information requested by potential buyers for mortgage processing or general orientation;

            Development of a Welcome Package, containing all vital information to new owners, particularly in regards to Rules & Regulations, Association documents and current fee schedules;

            Creation and maintenance of an extensive database of general and specific information regarding your community (i.e. Non-owner resident information, emergency phone numbers, parking information, history of work orders within units and common elements, etc.);

            Assist in the development of Rules & Regulations and strict enforcement of same within the guidelines established by the Association;

            Provide advice on insurance for the Association, including a review of existing coverage for adequacy and cost-effectiveness;

            Process insurance claims by way of investigation, assemblage of information and reporting to Agent or carrier;

            Maintain the documents of the Association, including a complete set of files and records in the following areas:

1)      Board Minutes

2)      Committee Reports

3)      Management Reports

4)      Resolutions

5)      Amendments to the By-Laws and/or Master Deed

6)      Modifications or additions to the Rules & Regulations

7)      Past and current contracts

8)      Insurance policies

9)      Specifications and bids

10)   Inventory of Association property

11)   Architectural control guidelines

12)   Physical Inspection Reports

13)   Site plans (proposed and as-built)

 

FINANCIAL MANAGEMENT

COLLECTIONS & DELINQUENCY PROCESSING

            Prepare and distribute coupon books or monthly invoices for assessment payments to all current and new owners;

            Immediate deposit into high-yield money market accounts of all funds received on behalf of your Association into separate bank accounts in your Association's name;

            Daily posting of receipts to unit owner accounts, which provides monthly status updates;

            Follow-up with mid-month and/or end-of-month notices to all delinquent owners;

            Institute automatic late charges and/or penalties for delinquent accounts;

            Coordinate with the Association's attorney procedures for lien filings, money actions, and/or foreclosure proceedings.

DISBURSEMENTS

            Confirm accuracy and legitimacy of all invoices, coding of same to proper G/L accounts, and obtain necessary approvals by Board, Manager and Officers of Target;

            Produce checks for all approved invoices on a monthly basis, based on agreed procedures with the Board; check signing authorization can be at the discretion of the Association;

            Immediate manual check processing for emergency situations;

            Maintain a three (3) year history of all disbursements by vendor, as well as by expense category, available on-line for control and reporting purposes.

BUDGETING AND CASH MANAGEMENT

            Prepare annual operating and reserve budget, at least sixty (60) days prior to fiscal year-end, for Board and Committee review, accompanied by detailed notes by line-item;

            Meet with Association to amend and adopt final budget and distribute same to all owners, at the Board's request;

            Implement the adopted budget and measure performance through monthly budget-vs-actual analysis;

            Daily cash management of Association operating and reserve funds in order to maximize interest earnings.

            Monthly contributions channeled to reserve funds and reconciliation of same.

AUDIT & TAX PREPARATION

            Assist Association accountants with quarterly and year-end audits, which would include providing a complete trial balance and General Ledger for all accounts both reconciled with all bank accounts and internal management reports;

            Involved throughout auditing process in addressing questions and providing back up for all transactions reported;

            Review and recommend year-end adjustments to Association records and reconcile Association records to audited figures;

REPORTING

            Provide detailed, monthly/quarterly reports to Board and/or Committee Members, on or about the twentieth (20) of each month, for prior month activities, including:

            Balance Sheets-reconciled to cash balances, receivables schedules, and open invoice register.  Particular attention is paid to reserve fund balances in the equity portion of the Balance Sheet;

            Income Statement-provides month-to-date and year-to-date results of operation, on an accrual basis, with per-unit analysis;

            Budget Analysis-actual-to-budget variance analysis, year-to-date accrued results;

            Operating Budget-measures the annual budget, as compared to accumulated expenses and budget balance remaining for each expense line item;

            Statement of Changes in Financial Position-opening balances on all cash accounts, updated with net change with month-to-date and year-to-date figures, reconciled to closing balances;

            Trial Balance-listing all charges of accounts which is custom-tailored to meet the specific characteristics of your Association;

            Profit & Loss Spreadsheet Analysis-providing at a glance, up to twelve (12) months of activities, in terms of revenues and expenses, on an accrual basis;

            Budget Spread Analysis-Distribution of the annual budget, across twelve (12) months based on seasonal considerations;

            Budget Variance Spread Analysis-Analyzes each revenue and expense category, comparing budget-vs-actual for up to twelve (12) months;

            Cash Disbursements Listing-Itemized list of all checks written during the month, identifying vendor, expense code, description of expenditure, and the amount paid, by each individual invoice;

            Income Distribution-Prepaid & Delinquent-Analysis per individual owners of opening position, monthly charges, payments, and final position, including prepaid and delinquent status;

            Delinquency Status Report-Provides further detail of all unit owners who are delinquent status, by charge type, detailing charges and payments, and current balance due;

            Delinquency & Late Letter Report-Identifies all delinquent accounts and reports on late charges applied, and collection actions taken, including management letters sent, Attorney collection notices, Liens, Foreclosures, arranged payment plans, etc.

            On-demand reporting for one-time request such as:

·                     Unit Owner/Tenant Listings

·                     Special charges & collections

·                     Unit owner payment history

·                     Mailing labels

·                     Annual meeting sign-in sheets, ballots and proxies