Financial Management

We understand that your Association needs accurate and timely information regarding your community’s finances. We will assist you in understanding your community’s economic outlook and provide you with options to best manage its finances.

Budget Preparation

The Exclusive team will prepare an initial draft of the annual budget using the current year’s history and factoring in any changes that are expected. This initial draft is presented to the Board for consideration and we work towards finalizing the budget through a step by step process that looks at any relevant information that may affect any of its line items. We will assist in preparing the required mailings and in the budget’s adoption process. Lastly, we provide payment coupons to all residents for the new fiscal year and ensure coupons are provided to all new residents throughout the remainder of the year.

Accounts Receivable

We receive and process owner payments for regular and special assessments on a daily basis through our lockbox service. We post transactions daily to ensure owner accounts are kept up to date with the most accurate information. We also have the ability to process checks in house to minimize the delay in keeping funds available in the Association’s operating account.

Anyone can contact the Exclusive team and receive up to date information on their account t status without the endless maze of an automated phone system or the delay of someone responding days later. We also provide monthly reporting of all deposits made and the status of all accounts.

Delinquency Processing

The Exclusive team will work with the Association’s Board in establishing procedures for applying late payments, sending out delinquent notices or intents to lien and sending delinquent accounts to collections. We update our accounts daily to ensure any payments received are applied immediately and late payment fees are implemented in accordance with established procedures. We monitor all delinquent accounts to make sure time is not wasted in moving forward with collecting past due assessments. Once an account is turned over to the Association’s attorney, we maintain a close line of communication and request weekly updates so that we can in turn provide the Board with the most up to date information available.

Accounts Payable

The Exclusive team will establish procedures for processing the Association’s invoices and bills in a timely manner. We will receive and review all invoices and process them for payment. Any variations from usual amounts will be investigated and followed up on if necessary. Checks will be prepared for signature in accordance with the Association’s procedures and the Board will be provided with an up to date check register with balances to verify funds are available.

Financial Reporting

We understand that having a clear and concise picture of the Association’s financial position is critical to making well informed and responsible decisions. The Exclusive team will provide a monthly financial summary which shows the Association’s current financial status without the need to sort through pages of financial data. As part of the Association’s monthly financial package, we will provide the Board with a copy of the following reports by the 20th of each month:

  • Balance Sheet – list assets and liabilities as of the end of the current period.
  • Income and Expense Statement (Profit and Loss) – list income and expenses by account (which had been designated by Association) showing the current month’s activity, current month’s budget, current month’s variance, year-to-date activity, year-to-date budget, year-to-date variance and annual budget.
  • Delinquency report – reflecting individual charges on an aged basis as well as what actions have been taken that month by United on each delinquent account.
  • Cash Disbursement Journal – listing by all checks processed.
  • Copy of bank statement for each bank account held by the Association and a reconciliation report for each account.
  • Reserve analysis reflecting monthly additions and deletions to each reserve account.
  • Prepaid insurance schedule.
  • Pre-payment Report – reflecting assessments received in advance of their due date.
  • Report from Association’s attorney on their status of every account they are performing collection actions upon.

All financial reports shall be provided to each board member at least 48 hours prior to the monthly scheduled board meeting either by hand delivery, email, or by uploading to the “board member only” area of the web site if provided to the Association by Exclusive.


We will assist the Association’s Board in identifying investment opportunities for the potential growth of operating and reserve funds. Once these have been established, we will assist in monitoring and following the Board’s direction for the allocation and reinvestment of future funds into these accounts.