Financial Services

Premier Community Association Management provides all of our communities with comprehensive financial management. Our finance management staff is dedicated to maintaining current and complete records for all of our properties, including owner and renter information and a history of all monetary transactions and non-monetary transactions. Our eye for detail is unparalleled, and we work tirelessly to ensure that every community has up-to-date financial information and reporting. When you work with us, you work with top-notch financial experts who are just a call away.

Billing, Collections, Vendor Payment & Banking

PCAM will prepare, mail, collect, and apply regular and special assessments, fines, fees, and more in accordance with the policies of the Executive Board and the community bylaws. We will take care of all billing, collections, coordination of vendor payments, and banking on your behalf. Our property management staff will mail monthly delinquency notices and perform collection practices as dictated by the Board. If necessary, our staff can prepare legal paperwork including Form 50 Authorization, Justice of the Peace Debt Action Filings, Wage Garnishment, and more.

Reconciliation & Financial Management

As part of our financial management for HOAs, we take care of setting up and maintaining owner accounts so that they are always accurate and up-to-date. Our records include detailed charges, payments, and CCR activity. Bank account reconciliation is a vital part of the financial health of your Association and ability to pass an audit.

Budget Evaluation & Annual Preparation

Premier Community Association Management will work with your Executive Board to analyze, prepare, and finalize your annual budget with time to spare. We take budget preparation very seriously and work with each of our clients to develop a budget that is both realistic and in accordance with capital reserve study recommendations. Throughout the year, we will offer updates on budget progress in our monthly reports and provide the Executive Board with additional recommendations in the event of an unanticipated major expense.

Funds Disbursement

Our financial staff will review all invoices and bills for accuracy and make required disbursements in a timely fashion on behalf of the Association. Our Policy requires the Board to approve all invoices in a check run before payment is sent.

Financial Reporting

Accurate and timely financial reporting is critical for the successful financial operation of your HOA. Our financial staff will prepare and provide straightforward, clear, and concise reconciled financial reports by the 15th of every month. These financial reports are your best tool for making informed financial decisions for unexpected or anticipated repairs or replacements.

Audit & Tax Return Filings

Premier Community Association Management will work with our CPA to prepare the annual audit. We will also coordinate the filing of any IRS forms as required by law. PCAM is certified with the IRS to prepare and file your Annual Tax Returns, and we can perform this additional financial service for HOAs.

Online Resale Package Purchase

The resale package is a vital part of acclimating new community members to your HOA. It includes a resale certificate, dues statement, and associated assessment letters. The resale certificate is a custom document for the specific property and includes all fees due upon closing. A resale package also features the governing documents for your association. As part of our financial services and management services, we offer online resale package purchase for your residents’ convenience.

Monthly Operational & Financial Reports

Your HOA or community association relies on accurate monthly operational and financial reports to make informed decisions, so we take the preparation and delivery of these critical reports very seriously. Every month, we will provide your Executive Board with complete and detailed reports for the past month and the year-to-date including income and expense statements, budget comparisons, general ledger trial balances, balance sheets, check registers with accompanying bank statements and reconciliation, and owner delinquency information. We are committed to excellence in our bookkeeping practices and standards.

Learn More About Financial Services from Premier Community Association Management Today

Premier Community Association Management has been defining knowledgeable, skilled, and responsive property management services in Delaware for over two decades. We are the premier community management and pool management company of choice for single-family and condominium associations throughout Delaware. We are the whole package and provide comprehensive management services, pool services, and administrative services. Our expertise in Delaware law and community association management regulations helps us to live up to our name—Premier. If you are interested in partnering with PPM for your Sussex County, Kent County, New Castle County, Millsboro, or Rehoboth Beach community management needs, contact us today.

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