FINANCIAL MANAGEMENT

Lincolnway Management's financial services are arguably the best in the marketplace today.  Our accounting system is exceptionally secure and internet based.  By being internet based, Board members have immediate access to real time financial information such as check registers, bank balances, delinquency reports and operating statements.  Residents benefit by being able to go online and check the status of their personal account  and payment history, or make a payment online by credit card or check.  In general our financial services consist of the following:

Accounts Receivable Management

• Collection and deposit of carrying charges



• Recording of collections to member accounts



• Working with the Association's attorney to collect delinquent accounts



• Preparation of delinquency and collection reports

Accounts Payable

• Approval and payment of invoices and bills



• Disbursement reports of Board approval

Payroll

• Payment to all personnel



• Preparation of all necessay State and Federal payroll tax forms



• Preparation of all year-end employee W-2 statements



• Preparation and delivery of all contractor 1099 statements

Cash Management

• Working with the Board to provide and execute a cash management plan which preserves adequate cash availability while maximizing investment returns on reserve capital



• Review or preparation of all investment reports

Monthly Financial Reporting

• Balance sheet



• Operating statement



• General Ledger



• Journals



• Disbursement Reports



• Check register



• Cash Flow report

Preparation of an initial Budget for Board review each year

Periodic review of Association reserves

Closely related to the financial package is insurance. Lincolnway
Management maintains relationships with variety of insurance agents and
brokers who specialize in community association insurance. We review your
insurance requirements with them annually to make sure that your association's
premiums are in line with the market. We also have available an umbrella liability
insurance policy which an association may participate in. This insurance package
generally offers substantial savings and broader coverage to any Association who
might wish to participate in it.