Comparison of Services Offered
for Homeowner Associations
HOA Financial Management Services offers two types of services to homeowner associations in California. These consist of Financial Services Management and Accounting Services.
| Summary of Services | Financial Services Management | Accounting Services |
|---|---|---|
| Accounting Services | ||
| Assistance in preparing an Annual Budget | Yes | Yes |
| Preparation of monthly Balance Sheet, Statement of Cash Receipts and Disbursements, Check Register, Delinquency Report and Bank Reconciliations | Yes | Yes |
| Mailing of monthly invoices for assessments and delinquency notices | Yes | Yes |
| Payment of all authorized bills | Yes | Yes |
| Distribution of the Annual Financial Reports | Yes | Yes |
| Funding of reserve accounts | Yes | Yes |
| Assisting with tax returns, audits and reviews | Yes | Yes |
| Preparation of payroll checks (if required) and federal payroll forms 1099 and DE 542 | Extra Charge | Extra Charge |
| Meetings | ||
| Preparing and mailing notices, nomination forms, ballots and agendas | Yes | Not Included |
| Records and Correspondence | ||
| Maintenance of all Association records | Yes | Accounting Records |
| Sending Violation Notices | Yes | No |
| Recording changes of ownership | Yes | Yes |
| Responding to inquiries from escrow holders, mortgage companies and real estate agents | Yes | Yes |
| Preparation of Year End Disclosures. Filing Reports With the Secretary of State | Yes | Not Included |
| Miscellaneous | ||
| Making appearances for the Association in Small Claims Court | Yes | Not Included |
| Coordination with the HOA Inspector of Elections | Yes | Not Included |
| Enforcing the Association’s late charge, lien and collection policy | Yes | Not Included |
HOA Financial Management Services
818-991-1500