TMG does not have a CPA on staff; but, TMG requires all staff accountants to have a Bachelor’s Degree and specific experience requirements. TMG works with a variety of CPA firms in the coordination of tax returns, audits, etc.
Before the 20th of the month financials are provided.
Jenark is our software system, which is an HOA Management-specific software. Administrative and accounting team members both use this system.
Board Members are signers on all Reserve accounts, CDs, money markets, etc. Corporate Officers for TMG are signers on the day-to-day operating account.
TMG uses Alliance Bank for day-to-day operations. The Board can keep relationships with other banks. TMG has associations with many bank accounts at all banks listed.
The law requires that an HOA segregate its reserve funds from its operating funds and perform an annual financial review. Some governing documents increase the scope or frequency of this review and require periodic audits that are more thorough than financial reviews. The law also requires preparation and distribution of a budget and financial report …
Professional managers offer a wide variety of services to homeowner associations including accounting, budgeting, record keeping, assessment collection, bill payment, meeting coordination, and common area maintenance. Associations choose from among the services available and enter into a contract with the manager describing the scope of work. The management contract should also include the fee, the …