Compass Property Management

Financial

  • Annual Operating Budget
    We prepare a detailed line item estimate of all annual revenue and expense items and project receipts and/or disbursements on a monthly basis.
  • Long Range Plan/Reserve Study We coordinate the preparation of the estimated useful life, projected replacement year and replacement cost for the major exterior or common area building and site improvements.
  • Monthly Financial Report
    We prepare and present detailed monthly financial reports including:
    • Balance Sheet
    • Operating Fund Statement
    • Maintenance Reserve Fund Statement
    • Cash Flow Statement
    • Trial Balance
    • Accounts Receivable Report
    • Accounts Payable Report
    • Cash Disbursement Report

  • Reserve/Surplus Funds Investment
    We implement the investment of reserve or surplus operating funds.
  • Property Insurance Placement We review proposed insurable values, develop underwriting specifications for preferred coverage, distribute Requests for Proposals to qualified insurers, secure bids and provide recommendation for selection of insurer.
  • Revenue Collection
    We collect regular monthly and special assessments, late charges and fines charges to homeowners and assist legal counsel in the collection of delinquent accounts.
  • Tax Returns and Annual Audit
    We coordinate all information and records required by the Association tax preparer and independent auditor.
Compass Property Management