American Association Management offers our Financial Management Package for associations that require comprehensive management of their operating funds, reporting and investment of reserve funds, assistance with collection of homeowner dues and processing of payments to vendors. This includes:

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• Collect dues, fees and assessments in the name of the Association and deposit all funds into a secured custodial FDIC insured account set up for the Association.

• Review all invoices before payment for accuracy, pay invoices when due, and take any allowable discounts. Act upon, with the approval of the Board of Directors, any areas where cost cutting can be achieved.

• Furnish to the Board of Directors a monthly income and expense report complete with an itemized list of disbursements, account balances, and list of delinquent homeowners.

• Review delinquent owners each month and take whatever action possible to remedy those delinquencies.

• Advise the Board of Directors of any legal action we should take to collect funds due the Association and the appropriate way to take such action.

• Assist the treasurer in the preparation of an annual budget, along with line item explanations where needed, for approval by the Board of Directors.

• Assist in monitoring Rate-of-Return on funds invested in Reserve Accounts.

• Assist in the preparation of long range planning, for budgeting necessary reserves for large capital expenses, to avoid special assessments.

• Prepare, as needed, any information for auditors, or accountants.

• Keep accurate and comprehensive financial records