Commuity Associations (HOA) and Financial Management

One of the greatest responsibilities of the board is to handle the association’s cash resources — your money. We take this charge seriously; these are the processes we demand to safeguard your money:
- Association financial records are reviewed every year by a CPA.
- Bank statements are reconciled without delay every month.
- Balance sheets and profit/loss statements are analyzed every month, and expenses are examined against the budget every month. 
- Association reserve accounts are broken down annually to confirm that they will meet future demands.
- The association has an investment policy that protects invested capital funds, a trademark policy that protects operating funds, and an assessments policy that secures cash flow.
- Every association volunteers and personnel who can access association assets are certified.
- Kickbacks are forbidden and any potential conflict of interest must be divulged.
- Checks and balances are implemented to secure the safety of association assets — for instance, all checks must have two signatures.