Financial and Consulting Services
As a community association management company, SFMC understands that efficient fiscal management is critical to a successful operation. Our experienced accounting team will provide your association with the comprehensive financial management services outlined below. Since financial management is only a portion of association operations, our commitment doesn't stop there. We offer consulting services to our financial management clients, providing recommendations and guidance on other association matters.
Monthly Financial Reporting
SFMC provides the following monthly statements:
Accounts Receivable Management
SFMC will bill and collect assessments, to include daily deposits of funds received through our lock box and other sources. Homeowners have several convenient payment method options including pay by mail, ACH debit, eCheck, and credit cards through SFMC's website.
Accounts Payable Management
Your community manager will review all invoices upon receipt and SFMC will pay all routine services on a weekly basis; however, Board of Directors approval will be solicited for large or unusual expenditures. A detailed disbursement ledger will be provided to the Association on a monthly basis and all invoices will be made available to the Association's auditor for year-end accounting purposes.
Annual Budget Support
SFMC will draft the annual Association operating budget utilizing input from the Board and committees regarding required and desired services, historical data, cost trends and monthly comparison reports.
Audit and Tax Preparation
We strive and succeed in providing you and your auditor the most accurate financial statements available in the industry. Our reports and the availability of our entire staff will ensure the audit and tax preparation are completed in the most efficient manner possible. Our client's auditors always notice the SFMC difference.
Cash Management Solutions
When it comes to your association's money, transparency is critical. SFMC provides cash management controls and investment assistance so your association will always remain informed of the location of its money, giving you piece of mind and simplifying decision making with regard to investment options.