Budget Preparation
Financial Planning

• PMC will do a thorough initial inspection documenting the condition of all major components, roofs, roads, siding, pool equipment, fences, etc.        
• Following inspection PMC will prepare a projection of needed capital for the next 5 to 10 years.  This will allow the Association to begin building reserves for needed repairs.
• Through two fund budgeting, the Board can easily track the status of operating and capital funds.  PMC will work with the Board to develop a realistic budget to ensure the Association’s financial success.

Collecting the Money:
Accounts Receivable

• Homeowner accounts maintained
• Homeowner checks received and deposited
• Homeowners may pay online or with auto bank draft
• Delinquency reports and collection letters sent
• A/R Staff works closing with association attorney to collect delinquent assessments

Paying the Bills
Accounts Payable

• Bills received, processed, checked against purchase order and paid from the Association’s own insured account weekly to ensure good credit rating of the Association plus maximize discounts.
• Generate Ledger report of all checks issued

Report the Standings
Financial Statements and Services

• Monthly computer generated balance sheets
• Monthly P & L statements dispursed to the Board no later than the 15 day of the month.
• Bank statements reconciled
• Budget analysis and reserve calculations prepared
• Establish audit trails and hire independent auditor to perform yearly audit as required by Association documents