Fiscal Stewardship

Funds managed to provide both annual operations & maintenance support while meeting long term financial requirements.
  • Maintain accurate accounting of all assessments, deposits, expenditures, IAW general accounting principles.
  • Notify those members in arrears regarding POA assessment requirements. Initiate lien actions as required. (Consistent with State Legislative Reforms)
Accounting and Financial Reports
  • Prepare and approve annual financial reports reflecting receipts, expenses, investments, and net worth of the association.
  • Prepare annual federal income tax statement and franchise tax forms.
  • Budget and fund all must-fund maintenance and repair budget items.
  • Provide adequate funding for discretionary budget items to meet the goals & objectives of the POA.
  • Budget to support short and long-range maintenance and capitalization requirements.
  • Provide annual budget to membership not later than 30 days prior to end of fiscal year; approve at annual meeting.