Accounting & Financial Reporting


Financials is your concern and our passion!

Financial accountant reviewing data in financial statement in front of a computer

What do you mean by
financial reporting?

We document and communicate important Financial activities in customized reports that give our clients an overview of key performances they are interested in keeping a tab on.

Reporting typically happens in predetermined time periods. This includes P&L’s, Balance Sheets, AR Reports, AP Reports, Budget vs Actual, and Reconciliation Reports.

Financial Reporting is a vital property management task and important to the prosperous longevity of any homeowner association.

We assist in Budget Creation

Creating an annual budget is central to maintaining healthy finances for any organization. Budget creation is especially important for a homeowner’s association. You can consider it to be the association’s spine. With the passing of one year and the beginning of another financial year, a proper budget must be laid out.

HOA Budget Creation Steps

Creating a homeowner association budget is not a simple task. It requires a vast amount of coordination and needs to be completed in an accurate and timely manner. Here’s a rough overview of the yearly budget creation process we manage for our homeowners’ association clients.

2. Schedule a Separate Budget Meeting

3. Establish Clear Objectives

4. Determine Current Financial Situation

5. Prioritize Outstanding Repair and Replacement Projects

6. Create a Plan for Emergency Expenses

7. Generate Estimate Figures

8. Balance Needs & Wants

9. Account for Reserves

10. Finalize the HOA Budget

We customize our financial services to fit our HOA’s needs. But what we always like to include in any budget are the following:

  • Income
  • Administrative costs
  • Utility costs
  • Contract and services costs
  • Insurance costs
  • Portion for reserves

Successful financials start with responsible budgeting.

An association’s operating budget usually covers a single year at a time. Its purpose is to cover the usual monthly expenses that HOAs incur.

This includes items like landscaping, routine maintenance, and management fees.

Dues and expenses are factors that can affect an association’s operating budget.

We’d love to answer your Budget Creation Questions