Hoa Statement Template

When it comes to your hoa s monthly quarterly and yearly financial statements the outcome is largely dependent upon which type of accounting method is used by your hoathere are three different types of accounting methods that can be utilized which are often determined by the size of the organization or by state and local regulations.

Hoa statement template. Comprehensive efficient and systematic collections process. Comprehensive efficient and systematic collections process. When it comes to your hoas monthly quarterly and yearly financial statements the outcome is largely dependent upon which type of accounting method is used by your hoa. There are three different types of accounting methods that can be utilized which are often determined by the size of the organization or by state and local regulations.

This can happen if the hoa incurs large costs for example a damaged clubhouse or a series of condo roofs that need repairs and it doesnt have enough funds in the reserve to cover the expense. Under the accrual basis all financial activities of your hoa are reported on the homeowners associations financial statements. Accrual accounting is generally regarded as the superior accounting method since it gives a more complete picture of you hoas financial health and status than the cash or modified accrual methods. Sample billing statement sample collection letters.

The third is a reconciliation of the operating account and the fourth is a current reconciliation of the reserve account. You could receive an hoa statement with a special assessment on it. Homeowners will take the letter more seriously when they know they arent just receiving a blanket form letter. Youll be sent a notice before you receive a hoa.

The last is the latest account statements of the financial institution where hoa accounts are maintained. If youre not currently using templates for your hoa start building a library today. Other types of hoa statements. We have audited the accompanying balance sheets of sample condominium the association as of december 31 2010 and 2009 and the related statements of operations and changes in members equity and cash flows for the years then ended.

Collection of delinquent hoa assessments for your self managed association. The next is the profit and loss statements for the operating and reserve accounts. These financial statements are the responsibility of the associations management. Hoa financial statements example.

Our library of hoa forms contains many different templates of form letters that may be adapted for use in connection with hoa matters. Below are samples of generic templates of letters that may be used for communications to and from hoas. Our homeowners association forms are divided into 12 subject matter categories for your convenience. Appropriate use of our forms will save you time and stress and will facilitate proper communications.