Financial Accounting

Resource Property Management (RPM) provides timely and accurate financial reporting utilizing state-of-the-art software. Monthly financial statements are prepared by the 15th of the month and include a summary of the previous month’s activity. As an Accredited Association Management Company (AAMC®), we ensure enhanced financial safeguards and reporting standards. Our financial services include, but are not limited to:

  • Provide monthly financial reports that are community association specific in an easy to understand format. Financial reports include a balance sheet, income statement with actual versus budget comparison for income and expenses, check register, delinquent and pre-paid report, bank statements and reconciliations, detailed general ledger and journal reports
  • Prepare annual budgets with year-to-date actual and manager projections and replacement schedules in accordance with Florida Statutes. Budget package includes detailed notes by line item to explain budgeted figures
  • Collect all maintenance and special assessment payments
  • Prepare delinquent reports, mail owner reminder letters and assist in the timely filing of liens with the association’s attorney and closely monitor payment progress
  • Assist Boards with special project funding options
  • Maintain a current database of owner mailing addresses and additional contact information as provided
  • Prepare estoppel verification for real estate closings
  • Establish a bank lock box that electronically downloads information daily
  • The banking facility specializes in community associations and their specific banking needs
  • Pay all approved association expenses 
  • Mail and file vendor 1099 forms with the IRS
  • Provide year-end financial reporting to the membership