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
- 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
- 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.