Professional Accounting Services for HOA & CIC Associations – Twin Cities, MN
Every Homeowner’s Association or Common Interest Community (CIC) Board of Directors has an unchanging obligation to the members of the Association to oversee the complex and detailed fiscal responsibility to accurately account for the funds of the Association. In fact, State Statute requires that proper accounting procedures be used to track every member payment, vendor payment, insurance or service contract payments, and even that such payment comply with IRS reporting. For the majority of Associations, proper accounting practices means an accrual based system, which is essential in meeting those basic responsibilities. However, few Boards of Directors for HOA and CIC Associations also have member that have sufficient accounting skill needed comply with these requirements. In fact, most Boards contract with an Association Manager or Property Manager to handle accounting for the organization. This helps to ensure that proper procedures are followed, proper documentation is kept, and that no matter who is on the Board of Directors, there is an accountability chain that prevents error, fraud, or the loss of funds.
33rd Company® is well versed in the essential accounting requirements that every association needs. From complex accounting reserve studies, to the day-to-day management of an operating account, we can help you successfully manage your accounts. We can maintain and help you track Accounts Receivable (AR), Accounts Payable (AP), General Ledger Account management, Delinquency tracking, and Tax reporting. Your Association will greatly benefit from adding a talented Manager to your team. Our services include simple and easy to follow reports, monthly bank reconciliation registers, and real time BOD Portal account reporting so that your Board is always on top of every penny! As with our administrative management services, our accounting services take the heavy load off the shoulders of the HOA and CIC association Board of Directors, letting them focus on other community building initiatives. Our full range of accounting services provides complete, or accounting only services that can be custom tailored to meet the needs of your HOA/CIC. Our services include:
Account Set-up & Maintenance+
Accounts Payable (AP) Management+
Collection of Dues and Assessments+
Collections / Delinquencies+
Payroll & Tax Support+
Annual Budget / Reserve Study Preparation +
Custom Financial & Accounting Services for Twin Cities Homeowner Associations
Each homeowners’ association is as unique as the individual;s that make up every association. From individual members, to Board members, we establish a unique relationship with all of the HOA stakeholders to add value and good communication at every turn. At our Twin Cities Minneapolis- St Paul HOA management company, we offer customized property management services that fit the exact needs of your HOA. Our experience in handling such accounting extends over many years and assures you of accuracy and dependability. Our software, On-line portals, custom reporting, self-service custom reports, and bank reconciliation reports are all EASY to read, and tie together to the penny. Our fees for these services to your HOA or CIC are competitive and depend on the list of custom services you select. We also offer an “accounting only” program for smaller HOA’s so you can get the rock solid financial support you need, while performing the other needs in your unique community. Whether you choose “accounting only” or Full service, you can be assured that your relationship with 33rd Company® will be an enduring one.