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- Financial Statements:
Develop complete financial system, including receiving and depositing of association dues, tracking delinquencies, recording and paying all bills and providing monthly financial statements. The monthly statements include income and expense reports, budget balance sheet, transaction report (payables) and activity report (receivables). Statements are prepared in the modified cash format where all expense and income are reported when received.
- Independent Audit/Compilation:
Prepare all records for the auditor and assist auditor with the audit process.
- Budget:
Prepare the annual operating budget for Board review and approval prior to implementation.
- Collections:
Establish and enforce an effective collections system for assessments including proper follow-up notices, personal contact and late charge procedure to enable collection in a timely manner and minimize Association loss of owners and bad debts.
- Tax Preparation:
Will assist tax consultant or auditor as necessary.
- Accounting Records:
Accounting records will be maintained in a professional orderly manner and open for inspection during office hours. Internal audits by the Association's treasurer are welcome anytime.
- Reserves:
Establish an appropriate replacement reserve program and arrange for professional consultation to identify various components, remaining use and estimated cost of replacement to maintain quality physical condition of the property.
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Gold Crown Management, Inc.
1805 Oak Street Myrtle Beach, SC 29577
(843) 445-6007 / FAX (843)916-0296
Copyright 2005-2007 © Gold Crown Management, Inc.
All Rights Reserved.
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