The Financial Services entails the following:

  • Prepare an annual budget. The budget shall be based on prior operating expenditures, estimated future expenses, and required capital reserves.
  • Account for all assessments and other charges due from Owners.
  • Furnish monthly financial reports that provide a year-to-date snapshot of the Association's financial status, which includes all income and expenses and will reflect the net cash position of the Association.
  • Make all disbursements from assessments collected for normal recurring expenses as provided in the budget and as approved by the Board of Directors.
  • PMG Commercial will mail notices of delinquency to an Owner in arrears and take such reasonable action for the collection of the delinquent assessments as the Board may determine.
  • When necessary, PMG Commercial brings to bear on delinquent accounts the expertise of professional law firms that specialize in Association collections. This greatly reduces the need for Board involvement and the costs associated with collection efforts.