Condominium & Association Financial Services

CALIFORNIA CONDOMINIUM AND ASSOCIATION

FINANCIAL MANAGEMENT PROGRAM AND BUDGET PREPARATION

We provide complete professional Accounting and Financial Services for all Homeowners Associations in California large and small.

CALL: 951-634-9266 or EMAIL: calmonson3@gmail.com or

626-786-1568 or Email: calassoc.rich@gmail.com

Self Managed Associations
Small Associations

Protecting Your Association's Money and Accounting for the Association's Funds - a major responsibility and a major concern!

Boards of Directors across the state are realizing the importance of separating the Association's “Administrative” functions from the “Financial” functions; separating the financial functions from all other association activities is the intelligent and sensible way to control the association’s money.

Few will dispute the importance and value of good bookkeeping and accurate accounting records. In today's HOAs, homeowners expect the Board to provide accurate accounting information to them upon request. In the past, many associations have delegated the function of processing the Association’s money to the Management Company. Many Management Companies have total control of the association's Money. The Association’s Dues are sent to the Management Company, the bills are paid by the Management Company and the Management Company prepares and provides the financial reports to the association. While this has been the generally accepted practice in the past it is highly recommended that the financial functions of the Association be separated from all the other functions and the assets be accounted for by an independent, bonded, and qualified company. Placing all association functions with a single entity provides opportunities undesirable to the Homeowners Association.

When purchasing or selling property, buyers and sellers expect to know the financial strength and security of the community's assets in which they are buying. The importance of the function cannot be overstated. On a monthly basis, and upon request, the California Association of Homeowners Associations, Inc. will provide total and complete accounting and financial services for your association with state-of-the-art financial information and reports. Using "Generally Accepted Accounting Principles" and on an "Accrual Basis," your association's financial transactions will be recorded and reconciled to your association's bank accounts. The financial report includes a Balance Sheet, Statement of Income and Expense, Check Register, Cash Receipts Register, and Homeowners Account Balances. The monthly bank statements received from your bank are attached to complete the "Financial Report". This "Financial Service" is essential for all associations, and specially designed for small, medium, and large associations. Please contact our office for information and the cost of this service for your association. Other services such as Budgets and reserve analysis are also provided.

Please contact us for additional information on the cost of this Financial Service.

California Association of Homeowners Associations, Inc. calmonson3@gmail.com CALL: 951-634-9266

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