Service Areas

Lockbox Services

Our firm provides payment coupons and envelopes for each unit owner in order for them to send their maintenance payments to the banks lockbox for deposit of these funds on a regular basis. The operating account will be in the Associations name only and will be maintained at a bank to be designated by our firm, and approved by the board of directors, and will be interest bearing. We will coordinate all activity with the lockbox including stop files for legal accounts and name changes. We will also provide an electronic funds transfer for those owners desiring that type of payment.

Comprehensive Delinquency Reporting

On a twice monthly basis, after the fifteenth and the last day of the month cutoffs, we will print reports, which will reflect the names and balances of those owners who are delinquent in the payment of their maintenance. We will then mail first request delinquency letters and follow-up with second request letters at the end of the month. We will turn the account over to the Associations attorney based on the timing policy set by the Board of Directors. The Association's attorney will have direct internet access to the unit owner's accounts through our web site. If different cutoff dates for delinquency letters are required, we will change the dates in accordance with the Board's directives.

Payables Management

Upon receipt of Association's invoices, which have been approved by the Board of Directors or the manager, as your policy so dictates, we will prepare all checks to vendors. We will deliver the checks and invoices to be signed by the Board. All checks will be computer generated. The invoices will be picked up and the checks a will be delivered to your office based on an agreed upon schedule, by our own in house courier service, at no additional charge.

Comprehensive Financial Reporting

Monthly, we will prepare a budget to actual compiled financial statement (for management purposes only) for the Association. These statements will be prepared on an accrual basis. In addition, we will provide a detailed general ledger and general journal which includes cash receipts and disbursement journals, as will as check registers. These financial statements are custom designed, on a line-by-line basis, to coincide with the categories of your budget. If more detail is required, it can be customized to your needs. We will reconcile all bank statements, on a monthly basis.

Internet Access to Records and Reports

The Association will have the ability to view all owners' accounts on our system, as well as the ability to print reports. In addition the Association will have the ability to review a wide arrray of historical finnancial source documents such as checks, invoices, spreadsheets year end financials and many other related documents. This access will be done directly through the Internet, pass worded for your Association only.

Technology Commitment

We employ a state of the art, NT computer system, with over 30 workstations , ten printers and eight remote locations. We tape backup the system, twice daily, with the tape being stored offsite. In addition, we have arrangements with two other C.P.A. firms in the Fort Lauderdale are for emergency use of their compatible systems, if required.

Budget Preparation and Worksheets

We will assist the Board of Directors and/or the Property Manager, with regard to the preparation of the Association's annual operating budget. This will include worksheets detailing the actual expenses and projection of expenses through the end of each year as related to the budgeted figures.

We will attend the annual budget meeting as will as any other meetings we feel are necessary for the proper presentation of the financial position of the Association.

Our office and staff will make no management decisions. All such decisions will be made by the Association's Board of Directors and the property manager. In addition, we accept no responsibility for delinquent owner balances, which were incurred, prior to our being engaged. The board, by signing this engagement letter hereby indemnifies our firm of any claims including legal related to such delinquencies.