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  Services - Financial Management - Financial Reporting

Maintaining complete, accurate, and timely Association financials is a cornerstone of JBC Property Management. We produce all the necessary financial information your Association will need to make sound financial decisions. Utilization of proven accounting software and internal processes ensures timely delivery of accurate and thorough financial services and monthly reporting. To see a sample financial statement, click here.

Following is a list of financial reporting services offered by JBC Property Management:

  • A record of all Association income, expenses, assets and liabilities will be maintained utilizing the accrual method of accounting.

  • Utilize computerized payable system which includes computer-printed Association checks.

  • Provide Association Board members, as needed, a copy of the following each month:

    • Balance Sheet - list assets and liabilities as of the end of the current period.

    • Income and Expense Statement (Profit and Loss) - list income and expenses by account (which had been designated by Association) showing the current month's activity, current month's budget, current month's variance, year-to-date activity, year-to-date budget, year-to-date variance and annual budget.

    • Delinquency report - reflecting individual charges on an aged basis as well as what actions have been taken that month by JBC Property Management on each delinquent account.

    • Cash Disbursement Journal - listing by all checks processed.

    • Report from Association's attorney on their status of every account they are performing collection actions upon.

    • Other financial reports available upon request.

  • Present year end financial statements.

  • Cooperate with the Association's independent Certified Public Accountant in the annual, quarterly, or semi-annual audit, review, or compilation by making all the records, books, and files available for inspection and review. Review the resulting audit and make the CPA's recommended adjustments to the Association's records.


 

 

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