Association Governance Services
Your Board of Directors sets the policy and we help enact it. Good communications and a clean delineation of responsibilities is the key.
Financial Services are supervised by our Accounting and Operations Managers. Your association’s financial health is critical. We can help you create a financial plan you need to thrive. By maintaining complete, accurate and timely association financials we can produce all the necessary business and financial information your association will need to make sound decisions.
All Associations are Unique
NW Management Group provides full accrual based financial statements. Our fully integrated accounting program is flexible and allows us to customize our financials and reports to fit the unique needs of your association. From developing pro-forma operating budgets to reserve funding. We have resources to protect and maintain the financial health of your association. We provide the following financial service to our clients.
Monthly Financial Statements:
- Balance Sheet
- Income Statement with Budget Comparison
- 12 month Trial Report
- Accounts Receivable Aging Report
- Accounts Payable Report
- Check Register for both the Operating and Reserve Accounts
- Reserve Schedules
- Bank Reconciliations and Bank Statements
- General Ledger
- Billing Statements, coupon books or E-Statements
- Daily lockbox processing of homeowners payments
- Multiple payment options, including on-line payment options and the ability to pay with credit cards
- Customer Service to assist with billing inquiries
- Processing of delinquencies in accordance with the Associations Assessment Billing & Collection Polity and Washington Civil Code
- Preparation of Monthly Delinquency Reports
- Monthly monitoring of delinquent accounts and interface with association collection attorney
- Escrow processing for refinance and resale transactions (the cost of these services are paid for directly by the owner or escrow)
- Weekly processing of association invoices
- Checks are processed out of separate operating and reserve accounts
- Preparation and mailing of Annual 1099 forms to venders
- Vender tracking for contractor licenses and insurance
- Utility reports
Services You Can Trust:
- Investing of Association Operating and reserve funds at board direction
- Preparation and review of annual operating budget
- Financial consulting and long range planning
- Assistance with calculation and billing of special assessments
- Assistance with obtaining loan financing for capital projects
- Review of annual audits and tax returns
Property Management Services:
We know that a well-maintained property produces the highest returns for owners. That’s why we are proactive in our site inspections and responsive if a problem should arise.
Our staff has the ability to identify and solve your maintenance issues quickly and effectively utilizing our network of carefully screened venders – vendors who know the level of service and quality you expect. As part of our maintenance program, we provide regular site inspections of the property, present our finding to the Board, and assist in securing bids when maintenance work is needed.
With our online service and our emergency phone line, residents can even report maintenance concerns from anywhere and at any time.
We think that technology should be a tool and not an obstacle, so we’ve implemented a software system that is not only effective but easy to use.
We make technology work for you with the most advanced software systems in the industry.
We employ the Appfolio Software System. This provides our managers and associations real-time access to property, contract information as well as compliance, work order history and account history. This means that new compliance and work order information can be captured and recorded in the field.
Some of the basic advantages include:
- Access to all or assigned associations
- Lookup and access Compliance and Work order history
- Record and update statuses of open items
- Capture pictures
- Record new Compliance and Work Order Items.
Real Advanced Too:
- Integrated Systems
- Automatic real time updates
- Permanent transaction recording
- Customized reports
- Easy, secure access
Seven Ways to Save Time
Some general system characteristics and specific time saving features included in the various systems are:
- The systems are totally integrated; therefore, data is entered only once and then it is accessed and used throughout the system.
- The entire system updates real time for all entries, thereby providing a complete current and accurate financial position and allowing current analysis of any account at any time.
- Each transaction is permanently recorded reflecting the date of entry and the identification of the user who entered the transaction. Transactions maintain their date sensitivity at all times. This allows reports to be generated for any period at any time.
- Each system has specialized reports that can be generated whenever you wish.
- The system allows users to quickly access accounts to enable instant response to inquiries and immediate printing of account analysis, if needed. User can address homeowner or vendor inquiries immediately providing optimum customer service.
- The system contains extensive security and self-check features to ensure that unauthorized access is not permitted.
- The property profile module contains complete owner, resident, and tenant data as well as tracking features for violations, architectural applications, fines, delinquencies, work orders, etc. Account histories can be maintained as long as desired.