Management Services

MANAGEMENT PROGRAM SERVICES

The standard Community Association Management Program with Innovative Community Management Solutions, Inc. includes the following services:

  1. ADMINISTRATIVE FUNCTIONS

    1. Maintain a membership roster and homeowner information data system.
    2. Maintain business like relations with homeowners.
    3. Endeavor to secure full compliance by the members and/or occupants with the Association documents.
    4. Process Architectural Review Committee plans and/or applications.
    5. Provide required documentation to assist Associationís attorney in filing claims of lien as necessary.
    6. Monitor expenses on a monthly basis.
    7. Evaluate current association expenditures and suggest cost-saving alternatives.
    8. Maintain an inventory of the Associationís furniture and equipment.
    9. Coordinate the financial, maintenance, and insurance programs of the Association.
    10. Work with all vendors, insurance companies and their agents, banking institutions, accountants, and attorneys chosen by the Association.
    11. Maintain and keep complete, accurate, and up-to-date records of the Association including association documents, financial records, insurance records, correspondence, memoranda, notices, minutes of meetings, voting records, and all other records required in connection with the business of the Association.All such records will be available at all times for inspection.
    12. Assist in the development of long-term programs to prepare for major building and repair needs such as painting, roofing, decking, street resurfacing, pool repairs, and the replacement of functionally obsolescent equipment.
    13. Maintain twenty-four (24) hour maintenance and emergency system for access by unit owners.
    14. Upon request will prepare an annual executive calendar to identify administrative and operational items requiring Board recognition and action.
    15. Serve as resident agent/office for the corporation.
    16. Provide notary services as required.

  2. COMPLETE IN-HOUSE ACCOUNTING SERVICE

    1. Maintain accurate, itemized, and detailed records of all receipts and expenditures.
    2. Collect owner assessments utilizing coupon payment books.A current accounting of each memberís balance will be maintained designating the name and account/unit number of each member, the due date and amount of each assessment or charge against the member, the date and amount of each payment on the account and the balance due.
    3. Send delinquent notices.
    4. Prepare purchase orders and process invoices.
    5. Prepare checks to disburse funds, on a regular and punctual basis, necessary to pay all obligations of the Association as provided in the annual budget.Association shall determine account signatories.
    6. Prepare financial statements on a modified accrual basis at the end of each month in accordance with generally accepted accounting principles.
    7. Submit monthly to the Board of Governors of the Association.
      • A monthly statement of delinquent accounts.
      • A monthly statement of prepaid accounts.
      • The balance sheet showing all assets and liabilities, the net income or loss for the period, and the ownerís equity.
      • An income statement showing receipts and expenditures and the budget to actual comparison.
      • The general ledger.
      • The reconciliation of all banking accounts with a copy of the bank statement.
    8. Prepare a year-end balance sheet, a statement of revenue and expenses (income statement), and a reserve disclosure for distribution to membership.
    9. Coordinate the preparation and filing of all necessary tax forms with an accountant chosen by the Association.
    10. Prepare and file the annual corporate report.
    11. Make accounting records available for inspection by all members.

  3. ANNUAL BUDGET PREPARATION

    1. Prepare a detailed annual Operating Budget for Board review.
    2. Prepare a detailed annual Reserve Budget and Reserve Budget Disclosure calculated by either the straight-line contribution method or the cash flow contribution method.
    3. Present and explain the Annual Budget to the Board of Governors and, if necessary, to the general membership at a meeting held for such purpose.

  4. ANNUAL INSURANCE COVERAGE REVIEW AND ANALYSIS

    1. Define the requirements for insurance in the legal documents of the Association.
    2. Analyze and calculate the replacement value as required annually.
    3. Obtain Board approval for updated coverage for the approaching insurance year.
    4. Obtain bids from insurers and upon Board approval, place the insurance coverage.
    5. Process and follow-through on all insurance claims.
    6. Advise and consult with the Board on other advisable coverage such as Directors and Officers Errors and Omissions, Fidelity Bonding, Employee Dishonesty, and Workers Compensation.

  5. COMMON AREA MAINTENANCE ACTIVITY SUPERVISION

    1. Recommend maintenance standards and implement the standards adopted by the Board.Cause common elements and buildings to be maintained according to such standards.
    2. Initiate preventive maintenance programs.
    3. Design Bid Specifications for Board review.
    4. Obtain bids from licensed and insured contractors for Board review.
    5. Negotiate contracts and make recommendations to the Board.
    6. Coordinate and consult with the Board on all physical maintenance and operations programs.
    7. Supervise all maintenance personnel and contract workers.Provide liaison between the Board and the contract service providers and maintenance personnel.
    8. Handle all homeowner service requests and establish a log of service and follow-up system.
    9. Make regular, periodic property inspections.

  6. MEETING PREPARATION AND ATTENDANCE

    1. Prepare meeting notices, agendas, proxies, ballots, required reports, and sign-in sheets for all meetings as directed by the Board of Governors.
    2. Prepare the necessary forms, ballots, etc. for the Annual Election.
    3. Attend all meetings and assist as necessary.

  7. BOARD OF GOVERNORS ASSISTANCE

    1. Advise Board on all possible solutions to problems and situations as they confront the Association.
    2. Act in advisory capacity to the Board and carry out all Board directives.
    3. Provide expeditious follow-up to all Board directives.

  8. OVER-THE-TOP SERVICES

    1. Assist in publishing regular, quarterly newsletters using information submitted by the Board.
    2. Publish annual neighborhood directory if requested.
    3. Assist in preparation of Welcome Packages for new owners to include the most recent newsletter, neighborhood directory, rules and regulations of the Association and other relative materials.
    4. Provide assistance and guidance to obtain community involvement through the establishment of various committees.
    5. Provide assistance in planning community activities.
    6. Provide assistance and guidance in establishing community programs such as Neighborhood Watch and Automatic Broadcast Network, Bulk-Rate Cable Television, and Recycling.
 
 
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