Financial Management

Pinnacle Community Association Management understands that the financial position of your community association is the most important aspect of your operation.

Pinnacle has a strong accounting department with a focus on giving your board of directors easy to understand, concise, and complete monthly financial statements. Whether it’s our "2 Minute Financial Report", "Combined Income and Expense Report," or our "Budget to Actual Comparison Report," we examine and interpret your association’s finances to give the board meaningful advice and consultation on how to make your money work for you. Pinnacle also has strong relationships with several banks and accounting firms to ensure your money is being managed and audited by expert professionals. Here are some of the financial management services we offer:

Budgets

• Prepare and analyze budgets based on the schedule dictated by your community’s governing documents


• Schedule and facilitate budget workshops for board members and budget committee members


• Recommend funding strategies for operating and reserve accounts to ensure association’s financial well-being Accounting


• Complete a Balance Sheet and Income Statement on a monthly basis with a budget to actual comparison


• Reconcile all bank accounts


• Complete cash flow analysis statements to show where your association’s money is going


• Request and collect proposals for audits, tax return preparation, and other desired financial services


• Supply coupon booklets or billing statements to unit owners for assessment payments at any schedule: Monthly, Quarterly, or Annually.


• Provide weekly payment of accounts payable and no charge to print checks out of schedule of check runs

Fee Collection and Delinquency Reports

• Track and follow-up of past due balances, late fees, and other association charges to minimize delinquency


• Post applicable fees and assessments to homeowner accounts per the association’s collection policy


• Provide easy-to-understand, customized, monthly delinquency reports to your manager and the board


• Facilitate payment plan creation and execution for delinquent homeowner accounts with full monitoring


• Easy-to-understand write off tracking for board review and approval

Find out more about our specialized collection coordination staff by clicking here