Financial Management Services

• Collection of Monthly Income: Deposit all monthly income directly into the association operating account on a daily basis.

• Pursuit of Delinquent Accounts: Notices to delinquent co-owners will be sent in accordance with the Collection Policy established by the Board of Directors. Additional collection action will be at the direction of the Board of Directors.
• Payment of Invoices: Pay all approved invoices for the Association on a bi-monthly basis. All invoices/billings are paid only after the invoice has been reviewed by the Arch Realty Manager and depending on the amount, the Associations Board of Directors.
• Monthly Deposits into Reserve Accounts: As budgeted, deposit the monthly reserve account allotment into the separate reserve account. Arch Realty will monitor and invest all reserve money into interest bearing accounts as directed by the Board of Directors and in compliance with Association documents and/or policies.
• Monthly Financial Reports: On a monthly basis provide to the Board of Directors a Balance Sheet, Budget Comparison Report, Cash Flow Month-to-Date Comparison, General Ledger, Delinquency Report, and Maintenance Log.
• Preparation of the Annual Budget: Arch Realty works closely with the Board of Directors in the preparation of the annual budget. Arch Realty prepares the preliminary budget utilizing the fixed costs of the community, the already contracted services (lawn care, snow removal, etc.), any proposed future projects, and then presents the budget to the Board of Directors for review. The Board of Directors reviews the budget, makes necessary changes, and then approves the budget. Arch Realty then prepares the final budget for distribution.