We provide Financial Only Management to association who do not need our help in managing other projects and details for their association. The service aims at providing a full support in managing the financial operations and assisting the board to maintain the financial discipline for the association.
- PropVIVO will capture the approved budget of the last 3 years and prepare an Annual Budget for the Board prior to end of the fiscal accounting year.
- PropVIVO will research and analyze the operational needs and reserve study.
- Our team works closely with all the local authorities to ensure we have captured the details to provide an accurate forecast for services like utilities etc.
- We present the details to the Board for review and approval. After Budget approval, we plan the Budget meeting for ratification.
Collection / Accounts Receivables
- Collection of assessments is the most critical aspect of managing the associations.
- Our portal permits the homeowner to select the payment option most convenient for them, such as online payment, sign up for ACH, send payment via check, or call our Toll-Free number to make a payment.
- PropVIVO stays on top of Assessment Collection with homeowners through friendly Reminder emails/mails.
Disbursements / Accounts Payable
- A seamless process to collect invoicing from vendors.
- Categorization of expenses to recurring and ad hoc categories to ensure transparency. Payment to ad hoc vendors with board’s approval through the portal.
- The Recurring Expenses are based on contractual obligations and are paid at the contract amount.
- Timely Payment and reimbursement to vendors.
- propVIVO provides information in real time for all aspects of association management to the Board Members and Homeowners.
- Balance Sheet, Income Statement, Prepaid Report, Delinquency Report, Bank Statement, etc.
- In tailoring the portal, we will work with the Board to understand exactly what and how you want to see information. Board Members will be able to generate reports on demand, or they can ask the Association Manager to generate the report.
- On a monthly basis, we will generate a report of all information requested by the Board and post this to the portal for Board Member review.
Auditing / Tax Returns
- The propVIVO accounting system helps auditors and tax consultants timely prepare tax returns and audit reports.
- propVIVO submits completed the Audit / Tax Returns to the Board.
Collection / Delinquency
- PropVIVO sends regular notices to the Delinquent Homeowners. propVIVO provides the Board with the alerts and notifications of homeowners who have not paid their assessment fee.
- PropVIVO has teamed with highly reputable attorneys to support efforts in collecting delinquent assessment fees. propVIVO helps association draft the collection policy if unavailable.