J&W Management has internal controls to support Board Member interest in protecting Association funds. All invoices are coded to the appropriate accounts by the community manager who is most familiar with your communities funding. We process those invoices daily and schedule twice monthly check runs to better serve the vendors providing service to your community and managing the associations cash flow.
Financial Statements are reflective of our end of the month recording process and available for emailing every month.
We manage the Association’s assessment and collection policy as aggressively as the Board directs through the lien process and up to initiating foreclosure. At that point, the history of accounts moving into foreclosure, are turned over to the Association’s collection attorney. We ensure that every Homeowner call regarding their account is answered by a live person providing a higher degree of success in collecting outstanding assessments.
J&W Management provides a delinquency aging and collection status reports for Board of Director meetings included in the monthly financial. Information regarding Homeowners requesting payment plans is presented to the Board at every Board Meeting for consideration.
J&W Management provides a draft budget to Board Members four to five months ahead of the required budget approval and mailing. This allows considerable time for the Board to evaluate spending parameters, future planned projects and where costs need to be controlled. The accounting department also assists in providing records for required yearly independent audits of the associations records.