Financial Statements

Accurate and timely financial reporting is essential for efficient property operation.  Cardinal PMI is staffed with skilled professional administrators and supported by the leading industry-related computer software for all accounting and administrative controls.  This ensures generation of a highly readable and accurate monthly report, showing record of every income and expense that affects your property.

Financial Statements
It is our priority to have monthly financial statements completed and ready for delivery by the 20th of each month.  Financial reports are customized to the individual need of the Association's Board of Directors.  The following reports are available monthly to the Board members:

  • Balance Sheet
  • Profit and Loss Report
  • A/R Aging Summary
  • Copy of Invoices
  • Monthly Check Register
  • Reconciled Checking and Savings Report

Summary of Additional Financial Responsibilities

  • Collect fees and assessments
  • Record and deposit all maintenance fees
  • Record and report NSF charges
  • Collect delinquent accounts
  • Prepare and send arrears notices
  • Prepare annual operating budget for approval
  • Reserve account analysis
  • Manage the investment of reserve funds
  • Manage the bank operating account
  • Process all supplier invoices, issue checks and obtain required signatures for accounts payable
 
 
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