Accounting Services
We take great care in the accounting and management of the Association’s assets.
Your Accounting Team
Amy Johnson
Senior Vice President, Accounting
19 Years of Industry Experience
13 Years with CIMS
April Borba
Senior Director, Accounting
6 Years of Industry Experience
6 Years with CIMS
Jennifer Bueno
Senior Director, Accounting
20 Years of Industry Experience
20 Years with CIMS
Best Practices in Accounting Controls
Onboarding and Financial Health Checklist
As part of the onboarding process, we look at the accuracy of current financial reporting and compliance
with civil code, governing documents and best practices.
Financial Health Checklist
Account for all Funds & Bank Accounts
Review Governing Documents & Policies
Confirm Budget Follows CC&Rs
Flag Conflicts with Current Practices
Identify Anomalies in Bookkeeping
Report & Recommendations to Board
Financial Health Checklist
Account for all
Funds & Bank Accounts
Review Governing
Documents & Policies
Confirm Budget
Follows CC&Rs
Flag Conflicts with
Current Practices
Identify Anomalies
in Bookkeeping
Report &
Recommendations
to Board
Monthly Financials: What You Can Expect
Real-time access to financial and homeowner data, including account histories and collections
Workflows to ensure financial statements are prioritized based on board meeting schedules
Electronic notification and access to financial statements immediately upon completion
Customized accounting cover letter highlighting activity and items for review each month
Integration with banking partners for quicker access and automatic download of bank statements
Online check signing and real time access to all invoices, including status and images
The Budget Life Cycle
The budget is one of the most important aspects of HOA management. It is the foundation for annual planning, maintenance, capital improvements, and the overall protection of HOA assets and homeowner property values. The budget approval process should not feel rushed or incomplete. We focus on the budget throughout the year and help the Board feel prepared to make prudent, timely and pressure-free decisions.
Q1
Evaluate and plan for major projects in the current year. Obtain proposals and approve the annual reserve study for the next fiscal year.
Q2
Evaluate the current budget for significant variances. Obtain and review the preliminary reserve study draft.
Mailing of budget package in accordance with civil code and CC&R requirements.
Q4
Provide draft budget (with reserve study) to Board 5 months prior to fiscal year end. Board meeting(s) to review draft budget and planning for next fiscal year.
Q3
The Budget Life Cycle
Q1
Evaluate and plan for major projects in the current year.
Obtain proposals and approve the annual reserve study for the next fiscal year.
Q2
Evaluate the current budget for significant variances.
Obtain and review the preliminary reserve study draft.
Q3
Provide draft budget (with reserve study) to Board 5 months prior to fiscal year end.
Board meeting(s) to review draft budget and planning for next fiscal year.
Q4
Mailing of budget package in accordance with civil code and CC&R requirements (30-90 days prior to fiscal year end).
Frequently Asked Questions
How is your accounting team structured and who handles day-to-day requests?
Each client has an assigned A/P representative, A/R representative, and staff accountant who are familiar with your association. This team learns your books, watches for trends and red flags, and reports findings in monthly summaries. They are supported by administrative staff, department leads and the senior leadership team.
What financial reports do Boards receive each month?
All financial packages include the balance sheet, income statement, budget comparison report, bank reconciliations, A/R aging, A/P detail, general ledger, bank statements and a custom cover letter noting any variances and items for review. Additional customized reports are provided to clients based on unique community needs.
How do we access financials and owner accounts, and what is the typical turnaround time?
Board members have real-time online access to statements, owner ledgers, collections status, and invoice images. You will receive notifications as soon as reports are finalized as well as emails when invoices are ready for review and approval.
Who approves bills and how are invoices paid, processed, and documented?
The Board will select approvers based on the bank account type and Board preference. Vendors invoices will be uploaded to our electronic A/P system for processing. Your assigned approvers review and sign checks online within the approval workflow. All Board members have access to the electronic payable system to review status of all current and prior invoices. Nothing is paid outside the defined process.
Can you help with collections and owner account questions?
Yes. A/R manages statements, late notices, and payment plans per your policies and California Civil Code. Owners may contact our team through traditional methods or the online portal. Board members can view status in the portal and will receive monthly summary updates.. We also work directly with your collection company and attorney for any escalated legal remedies.
What support do we get for the annual budget and reserve planning?
We manage a year-round budget cycle: project planning and reserve study updates, variance reviews mid-year, draft budgets well before year end, and on-time budget mailings per California Civil Code and your CC&Rs. We start the budget approval process early to ensure there is sufficient time to plan for the upcoming year without the stress of last-minute budget decisions.
