Financial Services

Financial Services

The success of any community is in the strength of its finances. ACM understands the importance of efficient fiscal management

Our commitment to accuracy, comprehensive and timely reporting is a strong benefit we provide to each of our clients.

Financial services we provide:

• Comprehensive monthly reports:
  • Balance Sheet
  • Statement of Revenue and Expense with Budget Variances
  • General Ledger
  • Accounts Payable Open Item Detail
  • Cash Disbursement Report
  • Delinquency Report
  • Reconciled Bank Statements
• Accounts Receivable Management:
  • ACM will invoice and collect assessments, including daily deposits of funds received through our lockbox system. Owners have the option of paying assessments by mail, ACH debit, eCheck, and credit cards through ACM's website. 
  • Follow-up action on late accounts
  • Provide liaison with your attorney on any accounts placed in collection
• Accounts Payable Management:
  • ACM will review and process all invoices
  • Pay all routine invoices on a weekly basis
  • Obtain Board of Directors approval for payment of project costs and unusual expenditures
  • Obtain Certificate of Insurance from all vendors
          
• Annual Budget Support:
  • ACM will prepare the draft annual operating budget with the input of Board and committees regarding services that are required, as well as planned.
  • We use historical data and cost trends for annual budget
• Cash Management:
  • Monthly reconciliation of all cash accounts
  • Provide recommendations to the Board on investing surplus and reserve funds.
• Audit and Tax Preparation:
  • Assist CPA with annual audits, reviews, compilations and taxes.
All accounting done in accordance with Generally Accepted Accounting Principles.