To ensure the stability of every association, maintain property values and fulfill fiduciary obligations, it is important for the association’s board of directors to effectively pursue collection of assessments. Associations’ annual budgets are based on the assumption that all property owners promptly and consistently pay their assessments. Typically, delinquency rates for an association range
An internal auditors’ role includes monitoring, assessing, and analyzing organizational risk and controls; and also reviewing and confirming information and compliance with policies, procedures, and laws. Working in partnership with management, internal auditors provide the board, the audit committee, and executive management assurance that risks are mitigated and that the organization’s corporate governance is strong
Accounting Manager Principal Management Group of Houston, AAMC Houston, TX Rachel Richmond, Accounting Manager, has been employed with Principal Management Group of Houston (PMGH) since January 2009 after she left the homebuilding industry. Rachel began her career with PMGH as a Portfolio Community Manager, was quickly promoted to Collections Supervisor, Senior Team Leader, and
The Impact of Legislation
…on Community Association Assessment Collection Efforts The collection of assessments is central to the viability of any community association as assessment revenue is typically an association’s sole or primary source of income. The operating premise of most associations is that an annual budget is prepared based on the association’s projected expenses for the year,