SERVICES

BOOKKEEPING SERVICES

 

Superior Community Management, LLC will perform the following:

 

Banking

 

Establish and maintain separate checking and saving (Reserve) accounts.

 

Collection of Common Area and Other Charges

 

We will mail Delinquency Notices and further coordinate collection efforts with Board's designated Counsel, at the discretion of the Board.

 

Payment of Bills

 

Payable Lists will be prepared and upon approval, checks will be made for payment from the property's checking account.

 

Monthly Financial Statement

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PROPERTY ADMINISTRATION

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Insurance Coverage Review

 

We will assist the Board in procuring insurance for:

 

Liability

Building and personal property

Personnel

 

Enforce Rules and Regulations

 

The Property Manager will enforce the Rules and Regulations of the Association per Board policies.

 

Preparation of Annual Tax Return

 

The Property Management staff will work with the Association's Accountant so that the correct and timely filing of the appropriate returns can be made.

 

Work with Counsel approved by Board whenever legal advice is necessary.

 

Communicate with Board and report to the appointed board contact regarding pending or ongoing matters.

 

PREPARATION OF ANNUAL BUDGET

 

Approximately 45 days prior to the end of the Associations’ fiscal year, our team will prepare a budget for the Association to review.  This budget will include:

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Operating Income and Expense Requirements.

Capital Improvement Requirements.

Recommended changes to Operating Policies and Procedures.

 

The existing budget will be reviewed by our team and recommendations for any changes will be discussed with the Association.

 

The Property Manager would work with the Association in developing the required accounting, reporting and funding protocol as required by the Association.  We utilize “Buildium” Software for our Financial Reporting.

 

REPORTS TO THE BOARD OF DIRECTORS

 

Monthly Financial Statement 

 

By the 25th of the month, Superior Community Management will submit to the Board an Income and Expense Report for the previous month.  The monthly financial statement will also include a unit owner delinquency report as well as the reports listed below.

 

Work Order Status Report

Income Statement

Budget Variance Statement

Balance Sheet

General Ledger

Cash Journal

Check Register

Delinquency Report

Accounts Payable Schedule

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MEETINGS WITH THE BOARD

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24/7 EMERGENCY ON-CALL MAINTENANCE STAFF 

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