|Financial Services: Spectrum Property Services maintains
your financial data in simple, easy-to-read formats providing
you with an illustration of the Associations cash position,
income, expense and reserve detail. If desired, Spectrum can provide
financial-only management services.
Budget: Spectrum will work with the Board to prepare
and manage an approved annual budget that best meets your needs
and prudently uses association funds. In the draft budget preparation,
we will provide the Board with options, where applicable, and
Balance, Revenue & Expenses: A balance sheet and
revenue and expense statements will be prepared for you monthly,
comparing the month and year-to-date figures. Balance sheet
reports are provided on an accrual basis and presented using
Banking Services: Separate bank accounts for your association
will be established. Spectrum will provide monthly schedules
of monies invested in savings, certificates of deposit, treasury
bills, and/or money market accounts. Our banking services also
include the handling of all deposits and money market investments
and reconciliations of all bank accounts.
Accounts Receivable & Collections: Spectrum will
prepare and mail out a monthly billing statement to each homeowner
for assessments and any other amounts owed. The Board will receive
a monthly accounting for all accounts, explanations and a listing
of all overdue homeowner accounts. Spectrum will prepare and
file all pre-lien and lien notices on your behalf to protect
the Association from loss of assessments.
Accounts Payable: All bills will be paid weekly through the
Spectrum management office. We will prepare checks with accompanying
documentation for Board approval and signature. The Board will receive
monthly check registers.
Other Financial Services: Spectrum will coordinate the preparation
of tax returns, financial audit or review by a Certified Public Accountant
and other work as requested by the Board.
Other Services: In an effort to tailor a program that best
meets your financial and management needs, as contracted ,we can provide
additional services such as construction defect assistance, researching
bank loans and other financial options, as well as a full spectrum
of special projects to meet the needs of your association.
1259 Callens Road, Suite A, Ventura, CA 93003
Fax: 805.642.6161 Phone: 805.642.6160 Toll Free: 800.642.8333