Accounting and Financial Reporting

We manage all aspects of accounting and financial reporting using accepted accounting principles understanding that Board Members will only be comfortable with the financial status of the Association if they experience consistent and accurate financial reporting.

Optimum has implemented internal controls to support Board Member interest in protecting Association funds. All invoices are coded to the appropriate accounts by the community manager who is most familiar with your communities funding. We process those invoices daily and schedule twice monthly check runs to better serve the vendors providing service to your community and managing the associations cash flow.

Financial Statements are reflective of our end of the month recording process and available for emailing the first week of every month. Full or partial financial reports are also included in Directors Reports as requested.

Optimum provides a draft budget to Board Members five months ahead of the required budget approval and mailing. This allows considerable time for the Board to evaluate spending parameters, future planned projects and where costs need to be controlled. The accounting department also assists in providing records for required yearly independent audits of the associations records.

We discuss recommendations regarding limited risk investments of reserve funds, keeping Board Members informed as interest rate trends change. We also provide financial training for Board Members where we review how to read financial statements, our internal system balances to improve accuracy and disclosure requirements.

I wanted to let you know what a pleasure it has been working with you. You are very talented, hardworking and conscientious. Thank you for a very complete and helpful report. Thanks so much for your flexibility. It is very much appreciated."

Kim B. | Finance Committee, Homeowners Association

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