The Regency Management Group, LLC. - Services

"Financial reporting is one of the strongest attributes of Regency Management Group, LLC. Superior financial organization is the backbone of strong Community Association Management."

Today's economic demands call for creative and smart management. We offer financial services that plan for the future growth and prosperity of your Association.

We do not require our clients to use our bank of choice, but encourage them to do so. We explain the benefits (no banking fees, free lockbox, real time transactions, on line account research, daily reconciliation with our software, free web site hosting etc.) If they want to select a different bank, that is their option, but all association banking fees will be at their expense.

In addition, if clients want to use the lockbox service from their selected bank, the fees for not only the lockbox service but the up front programming fees to make it work with our software, are theirs.

If they don't want to use the lockbox service of their chosen bank, we will have to be compensated for the additional staff time required to manually process assessment payments in our office.

To use our bank is a win-win for both parties and it is as an example of how we try to leverage our buying power to the benefit of our clients.

Collections

· Collect assessments, fines and other fees through Lockbox with coupon or Electronic Debit.

· Provide necessary follow-up on delinquent assessments, and provide monthly reports to the Board.

· Monitor all unit sales and ensure all delinquent fees and tenant information is provided for closing through use of Resale Notification and Statement of Account Program.

· Association will provide scannable coupons for collection by bank lockbox.

General Accounting

· Establish and administer bank accounts.

· Administer accounts payable and reconciliation of monthly bank accounts.

· Process all checks and post to appropriate budget line item.

Planning

· Assist in preparation of annual budget and provide required information 90 days prior to year end for Board to adopt Budget.

Reporting

· Maintain unit and Association financial records.

· Prepare monthly financial reports including revenue and expenses, balance sheet, and budget variance.

· Prepare annual analysis of reserve accounts and report on reserve accounts quarterly.

· Prepare an annual financial report and provide all financial information required for annual or special audits.