MANAGEMENT SERVICES
The following is a
summary of routine management functions:
1.) Annually; mail owners a coupon book for payment of Association dues.
2.) Collect
association dues and deposit amounts collected into checking and
interest-bearing accounts at banking institutions as specified by
the Association and maintain full records of the accounts. All
checks from owners are copied and maintained in association's file.
3.) Review,
verify and code association's invoices. Pay all maintenance,
administrative, utility, and other operating expenses. Disbursements
are filed by general ledger code.
4.) Track
receivables and mail delinquency notices to owners in arrears, and
collect delinquent fees. If collection attempts fail, pursue
collection through any methods as approved by the Board of
Directors.
5.) Balance
monthly bank statements.
6.) Provide
latest financial information at all Board of Directors meetings.
Provide quarterly financial information to the general membership.
Prepare operating statements, cash position statements and
replacement reserve activity statements, so that the Association
will be notified of all receipts and expenditures of Association
funds.
7.) Annually; secure quotes on insurance renewal for Board's review and
approval. Insure that owners mortgage holders receive annual
certificate of insurance, upon request.
8.) File
necessary insurance claims.
9.) Annually; secure quotes on renewal of pool maintenance and grounds
maintenance contracts. Provide quotes to Board for their review and
selection. Supervise contractors throughout the year.
10.) Prepare
annual budget (or work with the Treasurer); present budget to the
Board for preliminary approval prior to approval by general
membership. Once the budget is approved, work towards operating the
association within the guidelines set forth by the operating budget
and by-laws.
11.) Maintain
separate replacement/maintenance reserve accounts for replacement of
common element equipment, capital expenditures or major
maintenance. Replenishment of used funds will be made as provided
in by-laws.
12.) Prepare
variance reports, if needed, to explain any significant variance
from budgeted amounts.
13.) Prepare
records for CPA's use during annual certified audit, upon request.
14.) Recruit,
employ, train and supervise and discharge all necessary operating
personnel as needed.
15.) Prepare
notices of meetings, proxies, and agendas; assist in elections and
meetings of owners; assist in preparation of a newsletter as needed.
16.) Compile
all legal documents pertaining to the condominium and maintain in
central office.
17.) Assist in
resolution of problems arising as a result of any interpretations of
by-laws, master deed, etc.
18.) Represent
absentee owners whenever possible.
19.) Supervise
working conditions and employee schedule so as to assure compliance
with Federal, State or Local labor laws.
20.) Administer
the entire project to assure that all guests, residents and owners
abide by all condominium documents and promote harmonious
relationships within the project.
21.) Act as
Association's representative in the event of any disputes between
owners, or with Local, State, or Federal Agencies.
22.) Attend
Board of Directors meetings to explain financial statements, cash
position, improvements, etc.
23.) Maintain
24 hour emergency answering service and employee available to handle
emergency situations after hours.
24.) Provide
secretarial services to Board of Directors, upon request.
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