Accounting and Financial Reporting – The fundamental service the firm provides is a complete accounting and financial reporting system that is oriented toward providing budgetary and managerial financial reports. These reports are designed to provide information to the organizations’ boards of directors to equip them with the financial information they need to manage the financial affairs of the organization in a professional and prudent manner. The financial statements compiled by the firm are designed to be managerial in nature rather than “GAAP” (generally accepted accounting principles) and are reconciled to the annual audit that is prepared on a GAAP basis.
Budgeting – A significant emphasis is placed on the budgeting process, working closely with the organization to budget expenditures and corresponding revenue sources. This process involves analyzing revenue sources such as service fees, property taxes, members’ dues, guest fees, transfer fees, tap fees, etc. Actual results are then compared to budgets on an ongoing basis and financial forecasts are updated so the organization can monitor not only “where it has been” but also “where it is going”.
Financial Planning– In many situations, a long range financial plan or cash flow model is a very helpful financial tool. The firm utilizes this tool to help its clients to plan for their financial future and to manage their day-to-day financial affairs in the context of a long range financial plan. Financial plans are prepared in connection with the formation of new districts and for many bond issuances.
Audit Workpaper Preparation and Audit Coordination – Our firm does not conduct audits because it is not independent from the clients it serves but many of the firm’s clients are audited on an annual basis. For clients that are audited, at the end of each fiscal year audit workpapers are prepared and the audit is coordinated by our firm with the organization’s independent auditors. The firm works closely with the State Auditor when necessary if audit issues arise involving the firm’s governmental clients.
Insurance Administration – Working with independent insurance brokers, the firm can coordinate obtaining general liability, property, automobile, directors & officers (governmental officials) and employee health and workers compensation insurance. The firm works closely with insurance brokers to ensure that there are not gaps or duplications in coverage. Competitive bids are obtained on a periodic basis to ensure that insurance premiums paid are competitive.
Cash Investments and Cash Management – We can assist in placing the District’s or Association’s funds in accounts and investments that meet the investment policy of the organization and that maximize the organization’s income within the parameters of safety and liquidity established by the organization.
Administration – Preparation of board meeting notices, annual members meeting notices, advance “packets” of information for board and member meetings, attending meetings, taking minutes, etc. are all services the firm has the ability to provide when needed.
Management – The firm has the ability to obtain and coordination operations contracts on behalf of its Districts or Associations such as grounds care and maintenance contracts, snow removal contracts, etc.
Elections – The firm, working closely in concert with each district’s attorney, can assist with special district elections.
Bond Issuance – The firm also works closely with its districts, developers, bond underwriters and bond counsel in the preparation of bond documents and the issuance of bonds.Arbitrage
Compliance – The firm coordinates with specialists in the extremely complex area of arbitrage compliance to ascertain that its districts are compliant in this area. We also assist organizations in planning to optimize the ability to retain positive arbitrage when possible.
Special District Personnel – There are many unique provisions related to taxation, retirement plans and health insurance for employees of Colorado “special districts”. For districts that have personnel on staff, the firm assists in the establishment and maintenance of health insurance and retirement plans designed specifically for special districts.
Common Area Maintenance – The firm can obtain competitive bids for maintenance of common areas, negotiate contracts and monitor and supervise the provision of services in this area.
Homeowner Communications – Homeowner Communications is a major aspect of association management and we have an office that is always staffed with personnel available to respond to homeowners’ questions and concerns.
Websites – The firm has created a number of simple but cost effective websites for clients that are continually updated to provide current and prospective members of the community with the information relative to the structure and operations of the entity.