Community Financial Management
Community Financial Management
Sound Financial Management Ensures a Well-Functioning and Harmonious Community
Accurate accounting provides the foundation for financial stability and operational efficiency, ensuring that resources are used effectively and that the community remains well-managed, in compliance, and sustainable. Dues must be collected efficiently, and budgets managed with precision. Synergistic does more than bookkeeping and provides detailed monthly financial reports, empowering your board with the insights and transparency it needs to make informed decisions.
Maintain accurate records of all monies received and disbursed for community management. The Association will be able to inspect these Records at any reasonable time, online or otherwise.
Render monthly financial reports to the Association.
Communicate with owners who need to pay association dues/fees as required.
Disburse funds in payment of bills incurred in the routine day-to-day maintenance and operations of the property.
Maintain a separate checking account in the name of the Association.
Collect and deposit all fees, dues, and assessments dictated by the Board of Directors on an approved (monthly, quarterly, or annual) basis and provide owners with payment options.
Prepare an annual operating budget and submit it to the Board for approval.
Mail or deliver to each property owner the annual operating budget.
Coordinate with a CPA to complete a tax return for the Association and submit it to the IRS on time.
Provide appropriate 1099 forms to vendors annually and submit them to the IRS.
For More Information
Contact Liz Welch at Liz@SynergisticCAM.com or (813) 940-8588
