SERVICES
ACCOUNTING
· Prepare monthly financial using a verified accounting program
· Reporting based on modified accrual basis - Revenues are reported when earned, not when received Expenses are reported when paid, not when incurred
· Provide monthly, quarterly and annual financial statement – as determined by customer
· Accounts Payable – Pay all expenses associated with maintenance repair and replacement
· Accounts Receivable – Monitor accounts receivables and actively collect past due assessments
· Banking – Separate accounts for each association so funds are secure and accounted for without co-mingling funds between communities
· Separate accounts for reserve funds using Certificate of Deposits
· Maintain all records according to Illinois requirements
· Work within the fiduciary restraints of the association and the parameters of the federal, state, local laws, Illinois Condominium Act, Governing documents of the association.
PROPERTY MAINTENANCE
· Respond in a timely manner and process and follow up on maintenance requests
· Ensure all projects are completed by professionals in their field, completed with the safety of the residents in mind and with proper insurance
· Practice preventative maintenance to reduce or eliminate emergency or reactive maintenance problems
· Routinely walk and inspect the grounds and the building’s exterior and common area interior areas
· In the event of emergencies, help facilitate the process with appropriate measures
· Preventative and yearly maintenance
· Keep the necessary association documents, both historical and current
· Through an extensive list of contractors and vendors, ensue the association is served best for their needs and interest
RECORDS/ADMINISTRATIVE AND OTHER
· Contact information, addresses, phone numbers and email address
· Maintain correspondence via email, phone and US Mail
· Attend Board meetings (number to be determined in contract terms)
· Provide management reports and updates
· Record and log all maintenance reports