Our experienced team of financial professionals are dedicated to ensuring that your association meets its fiduciary responsibility to the property owners. Our services include the following:

Budgets

  • Prepare and analyze annual budgets for existing associations based on the
    timeline established by the association’s governing documents
  • Hold budget workshops and training opportunities for board members
  • Track actual financial results against the budget on a monthly basis and
    provide the results to the association board
  • Prepare budgets for new projects to be used for setting initial assessment levels as required by governing documents

Accounting
  • Complete a Balance Sheet and Income Statement on a monthly basis with a budget to actual comparison
  • Reconcile all bank accounts
  • Within 30 days of year-end, a complete financial statement package is provided consisting of a balance sheet and operating statement. RMI will also assist in obtaining bids from
    outside sources for audits, tax return preparation, and other desired financial
    services.
  • Supply MICR encoded coupon booklets or billing statements at the
    association’s option. MICR encoding allows for the use of an automated
    lockbox system to facilitate timely and accurate posting to homeowner’s
    accounts.
  • Provide weekly payment of accounts payable
  • Provide on-line access to homeowners’ accounts

Fee Collection and Delinquency Reports
  • Track and follow-up of past due balances, late fees, and other association
    charges to minimize delinquency and assure that costs and fees are charged
    back to the appropriate homeowner
  • Post applicable fees and assessments to homeowner accounts on a monthly
    Basis or as dictated by the association’s governing documents
  • Provide monthly delinquency reports to the community managers and the
    board

 


Contact Us

 

Maryland: + 1 (240) 349-2117 
 Virginia: + 1 (703) 828-4504
 California: +1 (310) 492-3120 
 Toll Free: + 1 (866) 500-8585
 Email: info@blackstoneam.com

SE HABLA ESPAÑOL

 

 

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