Financial Reporting

We provide the following reports monthly that can be distributed either by hard copy or electronically.

• Balance Sheet – prepared monthly is a statement of the Association’s Assets, Liabilities, and Fund Balances.
• Statement of Revenue and Expenses – Statement of all revenue and expenses for the month and year-to-date, including net income (loss) from operations, provision for reserve contribution and excess/deficiency of revenues over expenses. A monthly and year-to-date general ledger is provided.
• Schedule of Cash and Investments – A monthly statement of operating, replacement and other funds detailing bank and investment activity.
• Statements of Replacement Reserves and other non-operating funds – A separate monthly statement of revenue and expense for all non-operating funds comparing monthly and year-to-date actual to budget.
• Year-to-date Monthly Income Statements – A simplified listing of revenue and expenses designed to offer the reader an opportunity to easily review a month-by-month comparison.
• Analysis of due To-/From Operating Fund – A monthly analysis of any amounts owed either to or from the Association’s operating fund and reserve funds.
• List of Accounts Payables and Accrued Expenses – A monthly listing of expenses billed but not paid and expenses encumbered but not ready for payment (accrual only).
• Unit Owners’ Accounts Receivable – A listing of our unpaid balances (sometimes called a delinquency list).
• Monthly and Year-to-date General Ledger – A monthly report listing revenue and all expenses, all journal entries, reversals and balances for every line item.
• Budget Re-Forecasts and Multi-Year Projections – A multi-year financial reporting tool that allows budget re-forecasting and multi-year projections.

We recognize the importance of detailed and accurate financial statements. Every financial statement is prepared by a degreed accountant and reviewed by one of our 11 CPAs before distribution.