| Establish and maintain bank accounts in the name of the Association (e.g., Operating Accounts, Reserve Accounts, Money Market and/or Treasury Accounts, Certificates of Deposit) as required or necessary. Funds are not commingled with other Clients’ or Beth Callans Management Corporation funds.
Consult with professional money managers and the Board to determine best financial vehicle for Association funds to realize best return.
Prepare and disburse payment of all obligations of the Association when due from Association funds.
Beth Callans Management Corporation will establish an invoice approval procedure with the Board of Directors detailing amounts Beth Callans Management Corporation is authorized to approve, required approvals, and payment process.
Invoices will be picked up from the property weekly.
Board members will determine who will be signatory on checks issued.
Bill, collect and receive, in the name of the Association, all budgeted maintenance fees.
Provide a direct debit service for owners for payment of their maintenance fees.
Maintain monthly financial records for each homeowner.
Furnish Board of Directors with maintenance fee delinquency report monthly.
Follow up on all delinquent maintenance fees in accordance with Association policies.
When necessary file Claim of Lien, through the Association attorney, at the direction of the Board and following the Association’s collection policy.
Furnish the Board with monthly financial statements for the common and individual buildings for their review by the 20th of the following month. These will include Balance Sheet, Revenue and expenses, Reserve Analysis, Accounts Receivable Schedule, screening fees and expenses, and any other reports requested.
Provide necessary assistance to any audit firm employed by the Association to perform an audit or review at year-end.
Prepare an annual Operating and Reserve budget for review with the Budget Committee, as well as the Board members. Provide this budget, when completed to the Association Members as required by Florida Statutes.
Provide information for filing of governmental agencies forms, reports and returns including Federal and State income tax.
Comply with the mortgagee requests for Condominium/Homeowner Certifications and Certificates of Insurance. Complete all insurance related applications.
Prior to transfer of a unit's ownership, provide an estoppel letter to the title company if necessary. Management will provide an accounting of all fees collected by the Association and will provide the Association with a copy of the title transfer. Change of address forms, coupon payment books, and information packets will be provided to the buyer(s).
The Association and its designees will collect screening fees, conduct screening and interviewing of purchasers of units.
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