How to Read Your Association's Financial Reports (and Fulfill Your Fiduciary Duty)
Thursday, Jan. 21, 2021
2-3 p.m. Eastern
An Exclusive HOAleader.com Webinar
with Practical Tips for Condo and HOA Boards
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Nobody expects you, as a board member, to be a CPA or a super-high-level financial whiz. But to fulfill your fiduciary duties, you do need to be able to understand your association's financial statements, ask good questions about its financial status, and spot potential problems.
Those skills are even more important—and the task more complicated—now, due to the financial stressors the COVID-19 pandemic has foisted on condos and HOAs.
This webinar, led by two community association management experts, will help get you there. These two veteran industry leaders will cover:
- The major financial reports for community associations and what each shows you, from balance sheet and cash flow to bank statements, check stubs, and credit card statements
- Common issues that arise throughout the year, such as what to do when your budget varies from its original figures
- The difference between cash and accrual accounting and why it matters
- How condo/HOA finances have changed for communities in times of COVID, including new budget line items you should consider
- How to spot potential fraud (Hint: You need to look not just at bank statements but also financial reports, for instance)
- The role of your advisors:
- Bookkeeper and CPA (is every bookkeeper a CPA? Is every CPA a bookkeeper? Does it matter?)
- Banker
- Manager
- Attorney
- Tax advisor
- Other financial professionals you might want to consider adding to your team, along with where to draw lines between the advisors' roles)
- What you need to know to understand investment reports and reserve reports
- The differences when it comes to financials for self-managed HOAs
- Recordkeeping: What's public, what gets shared with members, what just gets summarized, and what doesn't get shared at all?
In just one hour, you'll get the information you need to begin confidently reviewing financial reports for your association and identifying when something doesn't seem right. Register now for this informative event for community association board members.
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| Katie Anderson, PCAM®, AMS, CMCA, is
founding owner of Aperion Management Group in Bend, Ore. She's managed communities from 12 to 1,500 units and possesses a depth of knowledge in financial management and long-term reserve planning. She also has extensive experience in developing and early-stage community planning, including document development, budget creation, reserve study planning, and rule and resolution drafting. Anderson is a founding member of the Central Oregon Chapter of CAI and served as its president for two years.
She was also appointed to the board of the Alliance of Community Association Managers and serves on the legislative and advocacy committee for the Bend Chamber.
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| Brad van Rooyen, CPMS, is the founder and senior member of Tampa, Fla.-based HomeRiver Group and its national specialist for community association management, in addition to the president of HomeRiver Group. He has more than 12 years of experience in community association management, and he holds a Florida community association manager license and a Florida real estate license; he's also a certified property management specialist. He has community association
experience from a member's perspective through his volunteer service as the president of his homeowner's association. van Rooyen is also an elected community development district supervisor.
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A webinar is remarkably convenient. You participate from your home or office, using a telephone and computer with an Internet connection. You have no travel costs, hassle, or
commute time.
Because the conference is live, you can ask the speakers questions via the webinar interface. Many attendees tell us this is the most valuable part of the webinar.
And now, with our special group membership offer, your entire board can attend—even from different locations. This offer requires an HOAleader.com Group Membership. When any group member orders, we will set up access for the entire group. Up to 10 users can attend for one low price. It's another incredible deal as part of HOAleader.com
Group Membership.
You will receive access instructions via e-mail several days before the event. You don't need any additional materials before the webinar starts. The conference materials will be provided for you to view, print, and download.
Attend with Confidence
If you are not completely satisfied after attending an HOAleader.com event, let us know within 30 days, and we will refund 100% of your registration fee ... no questions asked.
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