All of our associations are provided with an individualized accounting system tailored made to their community’s exact needs. Hawk-Eye’s Financial Management Services can be broken down into the following categories:
Budget Preparation The Hawk-Eye accounting staff works closely with the Board of Directors, the association’s assigned manager, and the association’s Certified Public Accounting firm to formulate a stable financial foundation. This ensures that a reliable plan is created at Budget time to meet forecasted operational needs as well as meeting the association’s reserve requirements. This includes preparing the initial draft of the annual budget for review by the Board of Directors.
Collection of Maintenance Fees and Delinquencies Our staff provides updated account reporting to both the Board of Directors and their legal representative to ensure the collection of all current and delinquent assessments. They administer each community’s individual collection procedures as instructed by the board and defined by community documents. The current economic environment demands the constant vigilance to collections that Hawk-Eye provides.
Preparation on Monthly Financial Package The Hawk-Eye Accounting staff prepares monthly balance sheets, income statements, bank reconciliations and additional reporting as necessary, and presents it in a summarized format allowing for a clear and concise overview of the Association’s current financial state. Provided within the package are copies of all bank statements held by the Association and their reconciliations. The monthly package is delivered to each Board member at least 48 hours prior to the monthly scheduled Board Meeting.
Invoice ProceduresThe accounting staff is responsible for receiving and reviewing all association invoices and bills. The staff prepares remittance checks presented with supporting documentation for review, approval and signature by Board officers. The accounting department maintains vendor files containing payment information and invoices.
Lock Box ServicesUsing a lock box service, our staff works with the Association’s financial institutions to ensure the prompt application of payments by members to the Association’s account.
Assist in Tax/Audit Preparation The Hawk-Eye accounting staff works closely with the Association’s contracted Certified Public accounting firm to ensure all necessary supporting documentation is made available, resulting in timely and accurate year-end reporting and tax filing.
Maintain Current Owner’s Roster Maintaining updated member records enables associations to communicate with members and minimizes delays in the collection of assessments.