Maintaining complete, accurate, and timely association financials is a cornerstone of our firm. We produce all the necessary financial information your association will need to make sound management decisions.
Association can choose to mail periodic statements or annual coupon books.
Association funds are in a separate account under the Association’s name.
Receivables can be processed via several payment methods:
mail via check sent directly to a bank lock box system
electronically via electronic bill pay
electronically via scheduled Auto Draft Payment
online via Electronic Check
online via Credit Card Payment
in person at one of our offices via our in-house check scanning system
Assessment payments are deposited into an operating account at Alliance Association Financial Services.
Checks are encoded with the Association’s information at the time the check is processed
Receivables are downloaded daily directly to the association’s financial records from the bank.
Assessments are posted to individual accounts, reflecting late charges, fines, and legal fees.
Collections on delinquent accounts are worked in conjunction with the Association Attorney, per the Association Collection Policy.
Expenses are monitored for cash flow relative to the Operating Budget.
Disbursements are prepared for the Association with invoice attached.
Disbursements are coded to the specific line item of the operating budget.
Payments are issued once approved by Manager and/or appointed Board Member(s).
Payments are either printed on checks with required signatures or sent electronically via ACH.
Board has electronic access to images of all invoices and payments.
Your Manager will provide all Board Members a report packet, either electronic or printed, including any or all of the following:
Previous Meeting Minutes
Work Order Status Report
Violations Status Report
Budget to Actual Expense Report
Special Project Report, if applicable
Accounts Receivable Report
Accounts Payable Report
Prior Month’s Bank Statement
Bank Account Reconciliation
Balance Sheet Report
Detailed General Ledger Report
Statement of Cash Flows
Prepare operating budget.
Prepare reserve funding budget.
Mail budget packet to homeowners.
Schedule Budget Meeting.
Obtain budget approval from Board.
Enter budget into accounting system.
Order coupons as necessary.
Assist with annual audits, compilations, or reviews performed by an outside auditing firm selected by the Board of Directors.
Provide information to the Association’s auditing firm for proper and punctual filing of annual reports.
Furnish information for payment of all federal, state, local and other taxes or fees that are required in the operation of the Association and as may be prepared by the Association’s tax preparation firm.
We are a full-service community association management company with offices located in the Chicago Metro area. We specialize in streamlining association operations with great people, process, and technology, resulting in a high level of customer service for your community.
We take a hands on, proactive, team approach to property management. Our friendly, reliable, customer service oriented staff realize with each new association comes unique challenges. We provide innovative solutions to those challenges with our extensive property management expertise.