Oxygen Association Services offers an array of services for every community and budget need delivered to you by a professional, experienced and dedicated staff.
A rarity in community association management your association’s financial stability is closely monitored by a Certified Public Accountant (CPA) with over 10 years of community association experience. You will feel comfortable knowing your account is being monitored and maintained monthly according to general accounting principles, not just annually.
- Accounts Payable: verify and prepare invoices for online payment or by traditional bank check for board signature followed by mailing to vendors.
- Accounts Receivable: collect and deposit community maintenance assessments and/or special assessments including late charges and interest. Deposit miscellaneous income for gate cards, clubhouse rentals, application fees, etc.
- Reserves: automatic transfer from operating account to reserve account as per schedule established by the board of directors.
- Reminder Letters: timely mail initial and follow up late payment letters to delinquent owners as directed by the board of directors or governing documents.
- Attorney Preparation: prepare delinquent accounts for transfer to attorney for legal action.
- Delinquency List: provided monthly to board of directors including those transferred to attorney.
- Financial Statements: prepared monthly or quarterly as per management contract and to include:
- Budget Preparation: prepare preliminary annual budget for the board of directors and/or budget committee.
- Special Assessments: invoice, collect, deposit and monitor account status for timely or late payment.
- We will cooperate fully with the independent certified public
accountant in the conduct of the annual audit/review including making all
records, books and accounts available for their inspection and review.