Community Associations Institute
The Best In Association Management
Advanced Association Management Group is pleased to have the opportunity to introduce our company and services.
Financial Services

FINANCIAL MANAGEMENT SERVICES

Financial Management

Owner Assessments

  • Secure a contract to prepare & send coupon books to all Owners
  • Administer & track timely collection of assessments
  • Deposit funds in Association accounts in a timely manner
  • Send late notices to Owners as required per documents
  • Report delinquent accounts to the Board of Directors
  • Establish collection letter schedule based on Collection Resolution currently in place
  • File referrals to the Association’s Attorney for collection
  • Document correspondence & actions regarding collections
  • Report status to Board in a monthly Management Report

Administration

  • Manage payables for all current Association contracts & vendors
  • Provide timely payment & accurate posting of the Association expenses
  • Secure proposals for Insurance Policies, Pool Services, Reserve Study, Audits, Lawn Care, Coupon Books, required preventative and routine maintenance items and others as needed
  • Generate contracts for the protection of the Association for work to be performed by outside vendors via proposals accepted by the Board
  • Create Newsletters to inform Owners and Residents of Board Activities and other pertinent items and information concerning the Association using Board provided articles
  • Provide after-hours emergency support as required

Financial Reporting

Provide Board with financial reports including but not limited to:
  • Balance Sheet
  • Income Statement
  • General Ledger
  • Accounts Payable Detail
  • Summary of Budget vs. Actual
  • Aged Owner Report (Delinquent Payments)
  • Bank and Certificate of Deposit Statement Reconciliations

Prepare Annual Budget

  • Assist Board in preparation of the Annual Budget using comparatives, history, and the Board’s plans for projects in the upcoming year to create a budget and assessment recommendation
  • Proposed Budget will be provided as required by the Association

Audit and taxes

  • Assist Association’s Accountant in performing audits & tax returns
  • Insure the Board’s direction on Association investments are carried out in a timely manner