Duties Performed for Community Association Management

Welcome to Exclusive Association Management, where your peace of mind is our priority. We understand that making decisions for your community can be daunting, but you can count on us for comprehensive support. Our Full Service offering includes all essential accounting functions, personalized community visits, and regular property inspections to ensure compliance with governing documents. We take care of everything, from maintaining records of covenant violations to sending out violation letters, so you can focus on what truly matters—your community’s well-being. Maintaining complete, accurate, and timely association financials is a cornerstone of our firm. We produce all the necessary financial information your association will need to make sound financial decisions. From developing Pro-Forma operating budgets to reserve funding, our firm has the resources to protect and maintain the financial health of your association. As part of our services we provide the following financial reports on both an monthly and annual basis:

• Accounts Receivable Report

• Balance Sheet

• Bank Reconciliation of All Accounts

• Budget Comparison Report

• Cash Disbursement Report

• Operating Budget

• Aging Delinquency 

 

ACCOUNTING ONLY​

• Prepare annual operating budget with Board input

• Send out billing for assessments

• Send delinquent accounts to collections based on the structure of the Board

• Prepare and deliver monthly financial statements to the Board

• Collect assessments – electronic forms of payment are accepted

• Make regular deposits in an FDIC insured bank

• Accurately apply all money received to homeowner accounts

• File annual registration with the Secretary of State

• Assist the CPA in the association’s Federal and State income tax filing

• Work with attorneys on all collection accounts

• Work with attorneys to file liens on delinquent accounts when necessary

• Receive and verify the accuracy of all invoices

• Pay all invoices in a timely manner

• Maintain records of re-sales in the community

• Send out closing letters and work with closing attorneys to ensure the association is paid all outstanding balances at every closing

• Record bankruptcies and foreclosures in the community

• Assess fines for covenant violations as needed

• Maintain all ACC Forms, seek approval/denial, send homeowner approval/denial letter

• Keep files for association

CORE SERVICE

Our Core Service includes all Accounting plus sending letters to Association members when in violatin of the Declaration of Covenants, Conditions and Restrictions (CC&R's).  We can also include some Board Meetings with Core Service, depending on your needs.

​FULL SERVICE

​Full Service Includes all Accounting and Core Services.

• Inspect the property on a regular basis for covenant violations using the governing documents as a guide

• Prepare and send out violation letters after approval

• Maintain all records of covenant violations including a digital picture of the violation when possible

• Discuss violations with the homeowners as needed

• Work with County officials regarding county violations

• Solicit bids for work to be done in common areas and present to the Board for approval

• Coordinate with community vendors to ensure work is completed satisfactorily

• Manage common areas to ensure facilities are maintained

• Attend Board Meetings and Annual Meeting

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