HOA Fees – Where’s Your Money?

The facts are that the number one question being asked by association members is in regards to HOA fees: “Where is our money and where is it being spent?”  With the typical association the homeowner only gets financial information in the form of a once a year annual budget or an occasional newsletter. Liberty Community Management provides the availability and access to detailed and complete financial reports regarding all HOA fees to the associations we manage. With the reporting provided by Liberty Community Management a board member can actually audit their association with the reporting posted on the community website. Most management companies only have snippets or sparse and limited financial information available. Complete achieved and historical records are provided by Liberty Community Management to be accessed over the internet, along with digitized documentation of all community records. We provide detailed reports for the board. We believe that the association’s records that are not privileged, such as collections should be made available to all members of the association. This eliminates the distrust and lack of information that alienates many Boards from their members. Educating owners and Board members with the association information eliminates distrust. Liberty Community Management provides seven financial reports each month. These reports include a seven column budget so that each homeowner can see all the information regarding the association expenses and income. We also provide a community summary, community snapshot, detailed vendor transaction list, trial balance and collection report (Boardview only). We also provide the community checkbook and copies of every bill along with the corresponding invoices and payments.