Providing Financial Piece Of Mind The Crest commitment is to provide timely, accurate, and transparent financial reporting to allow the board to make fully informed decisions. The monthly financial package will be published to the secure Board Portal by the 15th of the month, which includes a balance sheet, income statement, general ledger, accounts receivable report, and bank statements. A budget worksheet will be provided in the fall including a draft budget, historical comparisons, and recommendations based on current market and industry trends. Our internal CPA reviews each association’s financials on a quarterly basis.
Our team of Account Reprensentatives are trained not only to mail assessment statements and post payments, but to communicate with homeowners and treat them with respect. Our initial assessment notices are mailed timely and includes options for homeowners to make partial payments prior to the due date at no additional fees to either the homeowner or association. This proactive approach with an emphasis on customer service leads to higher collections for the community.
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We use an automated accounts payable system, Strongroom Solutions, to receive and pay invoices electronically. With a few clicks, board members can login to review and pay invoices. Even invoices that are paid by ACH are loaded into Strongroom for board member reference. Our accounting software is integrated with Strongroom so that each time an invoice is received or a payment is made, the appropriate entries are automatically created.
Our banking relationship with First Citizens brings custom products and services designed for the unique needs of community associations. From interest bearing checking accounts to free lockbox service to multiple options for increased FDIC coverage, there is a solution for every situation and budget. Association funds are always maintained in separate accounts and are never intermingled with other association or Crest Management funds.