Maintaining Financial Integrity
• All of the financial services rendered are computerized utilizing, industry specific, state of the art software which is available to Board Members online.
• On a monthly basis, Pelican Property Management maintains a complete set of books.
• Manager checks accuracy of all invoices on accounts payable including all vendors and contractors.
• Manager shall prepare checks for Board approval and signature and deliver same prior to the scheduled monthly meeting.
Assessment Billing/Accounts Receivable:
• All assessments shall be billed on a pre-determined cycle utilizing statements or coupon books.
• Owners’ payments shall be mailed to the associations lockbox account. Owners may opt to pay assessments On-Line. Payments are updated daily
• Past due letters to be sent to all homeowners in arrears and follow up on collection procedures, liens, and foreclosures.
• Coordinate with Association’s attorney on all legal matters.
Budget Preparation and Forecasting:
• Manager prepares and presents to the Board (sixty days prior to the new fiscal year or as prescribed by the community documents) a proposed operating budget based on past performance and prevailing economic factors.
• The proposed operating budget will be set forth in detail all anticipated income and expenses. Upon adoption the manager will, print and distribute budget to all homeowners in accordance with the community documents.
• Upon request assist in the preparation of a reserve fund study for long-term replacement of capital improvement items reflecting life span, etc.
Financial Statements: Comparative financial statements are issued monthly containing:
• Balance Sheet
• Budget Variance Report
• Income/Expense Statement
• Cash Receipts
• Cash Disbursements
• YDT General Ledger
• Cash Flow Analysis
• Accounts Payable/Receivable