Every person should have a budget…and few do. A budget helps smooth out the ups and downs of short term and long term financial goals. However, we, as individuals, have… Read More

What is a Board of Directors to do when an unexpected downturn occurs in the Association’s financial position? This may be from uncollected assessments or write-offs from foreclosures and bankruptcies…. Read More

This spring, we have heard that question asked more often than in any year in recent memory. Why? As associations mature, reserve balances are increasing and a primary component of… Read More

Our CPA practice probably receives more questions on “All Things Bad Debt” than most any other topic. This article will highlight some of the questions we receive, and our thoughts… Read More

Associations with December 31st year ends make up a large share of annual audits.  There is often intense pressure on managers, accounting departments and audit firms to complete accurate and… Read More

Every year, your association should enlist the services of a certified public accountant (CPA) for various reasons. A CPA is an accounting professional who has been licensed by a state… Read More

The old adage “The only two certain things in life are Death and Taxes” may not be everyone’s favorite quote, but those few words have certainly endured the test of… Read More

Clear processes, strong accounting controls, clarity and accuracy of financial reports, and understanding the basics of reading financials and accounting are essential for Boards and general managers of self-managed communities…. Read More

Homeowners and Boards receive association financial statements at various times during the year.  For many, reading and understanding financial reports can be challenging.  Understanding the basis of accounting used to… Read More

Have you ever heard a Board member or Manager say:? “Fraud can’t happen in our Association. We have good controls and people we can trust.” In the Community Association industry,… Read More