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Financial Reporting

Financial Reporting

The following financial documents are provided to the Board of Directors on a monthly basis — financial packages are delivered via U.S. Mail, electronic mail or both:

Profit & Loss Statement

Included with each month’s financial statement you will find a detailed and categorized report of all gross receipts and expenses incurred — all Profit & Loss categories will correspond to the income and expense categories listed on the HOA’s annual budget.

Expense Detail Report & Invoice Copies

Provides Board Members with a categorized listing of monthly expenditures as quick reference to the invoice copies which are also included with each monthly financial package.

Monthly Balance Sheet

Provides Board Members with a “snap-shot” of the HOA’s financial standing at a particular point in time by listing a culmination of association’s assets and liabilities for each month.

HOA Member Account Ledgers

This ledger is a detailed listing of each homeowner’s charges, payments and ending balance. This allows Board Members to easily reconcile the monthly collection report provided by the property manager with the monthly financial packages received.

Bank Reconciliation Reports & Bank Statements

Prior to generating the financial statements each month, our bookkeeping team carefully reconciles each of the association’s bank accounts to ensure 100% accuracy. A copy of the reconciliation report is included with each monthly financial package enabling Board Members to cross-reference the content of our financial packages with the bank statements provided.