Financial Management

Association Management, Inc. realizes that one of the most important aspects of our service is the fiduciary responsibility we have to our clients. This is why we continually strive to provide the most efficient technology and accounting methods associated with your community’s financial management. In addition to utilizing software specifically designed for community association management and negotiating services with various FDIC insured depositories, we provide detailed financial statements which contain the preferred and recommended “fund accounting” format and provide your community with the following:

• Detailed Balance Sheet
• Statement of Revenues, Expenses & Changes in Fund Balance (YTD)
• Statement of Revenues & Expenses (Monthly/Quarterly)
• Statement of Revenues, Expenses & Fund Balance vs. Budget (YTD)
• Statement of Revenues & Expenses vs. Budget (Monthly/Quarterly)
• Cash Reconciliation Report
• Individual Account Summary Report
• Aging Report
• Accounts Payable Report
• Detailed General Ledger
• Copies of all bank statements

In addition to providing these services, our management team works in conjunction with your community’s legal counsel in a constant effort to reduce and collect delinquent assessments. Our experience with assessment collection will maximize the potential to collect delinquent assessments and will aid in preventing new and recurring delinquencies.