Financial Support
Baker & Associates keeps you informed about the financial condition of your Association with thorough reporting and easy- to- understand advice and guidance. Our basic services include the following items:
- “Set up” of general ledger, customer accounts and vendor accounts
- Implement billing and collection of account balances in accordance with By-Laws
- Send, upon owner request, quarterly email reminders for upcoming assessments
- Pay vendor bills on a timely basis
- Provide monthly reporting, including:
- Bank reconciliations
- Copies of bank statements
- Schedule of cash disbursements, showing who was paid what & why
- Schedule of accounts receivable balances
- Budget vs. Actual reporting
- Compile the Annual Budget, including a Full Year Forecast to use as a baseline
- Provide audit support, as required
- Attend Condo Association Meetings, as necessary
- Handle bank requests for confirmation of owners’ dues paid
- Distribute and File 1099-Misc for Independent Contractors
- Initiate request for completion of W-9 forms
- Provide “On demand” access to Association’s files and records with reasonable notice
- Act as an “independent” review of vendor invoices and contract terms