Finance and Accounting

ACM has the processes, procedures and systems in place to ensure your community’s financial stability.

 

From disbursements to collections, we know that flawless financial management of your assets is critical. 


The ACM team has decades of professional experience of community association financial management. Establishing standard operating procedures, budget projections and maintenance of proper audit and tax reports are but a few vital responsibilities. 
 
Summary of the financial management services offered by Atlantic Community Management :

  • Establishment and management of annual assessments and projected budget

  • Customization and submission of financial statements to the board of directors

  • Individualized assignment of accounts receivable, accounts payable, and collections

  • Schedule preparation/timeline for replacement reserves

  • Collection of assessments, fees and other various receivables with delinquency action as needed

  • Accountant assistance for preparation of annual tax and audit

  • Timely disbursements with the established collection procedures 

  • Coordination and production of community’s financial assessment book with distribution to each homeowner

  • Coordination and production of community’s 1099s at year end in accordance with Internal Revenue Service standards

  • Maintenance, preparation and dissemination of all association employee reporting including benefits, salary, and taxes

  • Accrual accounting for improved budget and financial stability 

  • Preparation (or assistance with preparation) of community fiscal budget 

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