Bookkeeping and Financial Reporting. How can any business know itself without a thorough understanding of its financial position? It can’t. In addition to providing routine collection of assessments (in accordance with the governing documents and the annual budget) and twice-monthly payment of bills, we provide a monthly review of the current financial picture of the association, including a balance sheet, income versus expense report, income register, expense register, delinquency list, bank statements and reconciliation. This monthly financial report also includes a personalized recap of all of the important points in the financials that month (any unusual expenses are explained, current balances delineated, any fund transfers clearly listed and recorded) to help board members who may not have a strong financial background clearly understand the financial picture for the association.
Board and Annual Meetings. The heart of any community is found at its meetings since that is where all the business of the association is transacted. In the State of Oregon, board meetings are required to be open to all members of the association. While only the board may participate in the business decisions transacted at these meetings, owners may share their concerns or comments in an open forum, which is normally held at the beginning or the end of the meeting. Annual meetings, on the other hand, are for all owners to participate in (the most notable action at the annual meeting being electing members to the board). We have experience running both board and annual meetings, including producing agendas, reviewing and drafting minutes, providing proxies and ballots (for annual meetings) as well as running special meetings. We can be an asset at any meeting, whether taking center stage running the show or simply providing answers to questions. We can also provide the framework for some or all of your meetings with notices, agendas, etc., whatever is the most desirable for your community.
Annual Budget. Every year, the board of directors is charged with reviewing its annual expenses and updating its annual budget. This process can involve checking with vendors for contract increases, utility companies for rate changes, and otherwise reviewing and assessing current and previous years' expenditures to determine what to expect for the next fiscal year. We can provide the evaluation and do the legwork for the board, providing an initial draft budget for the board's consideration.
Questions (and Answers). Board members are generally not experts in community associations, and one of the roles management should play is to be a resource for board members to ask questions and get answers. Or maybe a community needs help with finding qualified vendors or dealing with rules enforcement issues. Sometimes there is a resolution that needs drafting or updating. For all of these needs, we offer an allocation of hours to be used however the board sees fit to help solve whatever issues may arise.