Condo communities and homeowners’ associations are typically set up as non-profit corporations. Just like for-profit corporations they have monthly income and expenses. This income and expense require monthly accounting tasks be completed. So what is condo or HOA bookkeeping or financial management? It is a specialty bookkeeping service that has expertise in providing these monthly…
There are many places for board member training depending on what state you live in. I’m a member and big fan of Community Associations Institute and their training programs. I’ve used their training programs to educate property managers and customer service employees at my previous full service management company. The following are a few good…
No one likes surprises when it comes to bills and expenses. I’ve spoken with thousands of board members over the years and one of their top complaints is that they don’t know where their money is going. If you don’t know what your community expenses are? Here’s a solution. Review Bills Before They Are Paid…
Is your community’s board Treasurer position like a revolving door? Is it hard to keep someone as the Treasurer of your condo community or HOA? Not only does this position have a lot of responsibility but they have a lot of monthly tasks to do. General Tasks Help develop the annual budget, review monthly financial…
Summer is over, kids are settled in school and the board is at full strength to tackle the community’s issues. One of those issues may be 1) finding a new management solution if you are dissatisfied with your current manager or 2) finding a resource to help the self-managed community board or Treasurer with all…
We’ve seen it before – a Board plays favorites. They don’t enforce the rules equally among all unit owners. But we know that all owners have to follow the same rules and no one can pick favorites. An example of favoritism that can cost the association a significant amount of money is when it comes…
All the accounting tasks at your community are running smoothly. The collections, bill payment and financial reporting is happening on time and with good accuracy and explanation. You are a self-managed community and life is good – the important job of a Treasurer is handled by an Ace volunteer. Your board sort of takes this…
Sometimes getting someone to volunteer for a self-managed community board position is impossible. It’s like that scene in a movie where everyone takes a step back and you are left out in front or where you go to the bathroom and everyone voted for you. The most important role and the one with the most…
In our series of blog posts titled: “Association Greed – Board Members, Managers & Missing Money” we highlight wrongdoing by community association managers and board members. In this installment: Community Embezzlement Case Studies – Florida Boards & Employees – we go over the facts of the crime and how you can prevent it at your…
Russell Munz, Founder
Certified Manager of Community Associations (CMCA)
Expert Financial Oversight
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