Overseeing Association finances is one of the key responsibilities of the Board of Directors. Prime Management has an entire department of skilled and experienced bookkeepers, dedicated to association management accounting and anticipating the future needs of your community. Our in house CPA supervises this department to ensure that the processes we have in place for correct accounting procedures are followed.
Our managers and bookkeepers work with your board and finance committee in order to thoroughly prepare your community's budget in a timely and efficient manner. All Board members receive detailed monthly financial reports personally prepared and distributed by your bookkeeper after being reviewed by our accounting manager.
To ensure your association meets its fiduciary responsibility to the property owners, you can rely on Prime Management to provide clean, concise and accurate financial data on a timely basis.
- Prepare and disburse checks
- Maintain cash balance
- Bank Reconciliations
- Budget Preparation and Disbursement
- Up to date and accurate unit roster
- Estoppel/Mortgage questionnaire
- Preparation of Monthly Balance Sheet , Income Statements, Variance to Budget and other required financial reports and schedules
- Maintain required supplemental financial schedules
- Payment Coupon Printing and Distribution
- Assist with annual audit with the Associations CPA
- Coordinate and Enforce the Associations Collection policy
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- Application of late fees
- Reminder notices
- Demand letters
- Preparation of Attorney package and follow-up
- Initiation of lien process
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