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Saturday Seminar for Condos & HOAs

Saturday Seminar for Condos & HOAs

[ Events ]

Saturday Seminar for Condos & HOAs

February 22, 2020 | In Bellevue, WA

WSCAI People Holding a Seminar Banner

For Community Association Board Members, Managers & Owners

Saturday, February 22, 2020
8:30 a.m. to 12 p.m.
Seminar Topic:

“Aging In Place” — It’s Not What You May Think

About Saturday Seminars: Education For Your Community Association

Saturday Seminars are offered four to six times per year. Each seminar is up to three hours long; full of timely information to assist owners and board members who reside in all forms of community associations – condominiums, homeowners associations (HOA) and cooperatives. Various topics are covered by industry professionals who are members of WSCAI and specialize in a segment of the industry.

Date & Time

Saturday,
February 22

Registration & Breakfast:
8:30 a.m.

Program:
9:00 a.m. – Noon

Location

Sheraton Bellevue
100 112th Ave NE
Bellevue, WA 98004

Google Directions >

Pricing

WSCAI Members:
$35 (through 2/12)
$45 (through 2/20)
$55 (after 2/20)

Non-Members:
$59 (through 2/12)
$69 (through 2/20)
$79 (after 2/20)

[ 2/22/2020 Seminar Topic ]

“Aging in Place”— It’s not what you may think!

A Seminar For Current & Future Board Members & Community Leaders

The paradigm of aging in place continues to build momentum as both our residents and their buildings continue the aging process. What does this mean? From caring for buildings to caring for residents there are multiple layers to explore and better understand as they relate to this critical social topic. Come and explore the many layers of aging in place and leave with a better understanding of needs, requirements and desires to better equip your communities and its residents in this unstoppable phenomenon!

Printable PDF Registration Form

If you don’t want to register online, download and print a registration form and mail to:

WSCAI
19101 36th Ave W, Ste 205
Lynnwood, WA 98036

Presenters:

Paul D. Grucza, CMCA, AMS, PCAM

Paul D. Grucza, CMCA, AMS, PCAM

Director of Education & Client Engagement, CWD Group, Inc. AAMC®

Paul D. Grucza, CMCA, AMS, PCAM, has been an industry practitioner for close to 34 years holding numerous prestigious positions within CAI including Institute President, Inaugural Chair for the APCM Board, CEO-MC Retreat Chair, Education Committee Chair, Ethics Panel Member for both CAI and CAMICB, Chapter President, an accomplished author for CAI penning and editing three books for CAI, published by Nolo Publishers, CAI Press and IREM, TV Show host, an in demand speaker for chapters nationally and internationally and a skilled Strategist called to conduct strategic planning for both CA Chapters and other business ventures over the years. He additionally participates as an industry expert crafting questions for the national CMCA certification exam and is actively engaged with the Foundation for Community Association Research. As Director of Education and Client Engagement for CWD Group, Inc. AAMC® he brings his many years of skill, association involvement and enthusiasm to the Pacific Northwest.

Chelsea Webster, CMCA, PCAM

Chelsea Webster, CMCA, PCAM

Trestle Community Management

Chelsea Webster, CMCA, PCAM, joined Trestle Community Management in July 2019 and celebrates almost 15 years in the industry. In her role as Senior Community Manager, she manages a large, diverse portfolio of associations throughout the Puget Sound, specializing in age 55 and older communities. Chelsea has been a very active, involved member of WSCAI since 2008, serving as an Outreach Committee member since June 2012 and an Education Committee member since 2012 as well. Chelsea lives in Hansville, WA on the Kitsap Peninsula with her husband Bob, step daughter Gabi and Corgi dog, Rylee.

Sponsors:

ServPro Edmonds, Lynnwood, & Bellevue West
Columbia Bank
Morris Management, Inc.
HUB International
Trestle Community Management
  • Condominium Law Group, PLLC - General Counsel & Collection Services - Partners Ken Harer & Valerie Oman - Phone: (206) 633-1520 Website: www.condolaw.net
  • Newman & Associates Ad 2020
  • HUB - HOA and Condo Solutions
  • Rafel Law Group
  • Pody & McDonald, PLLC
  • The Copeland Group, LLC
  • Barker Martin

Follow Us

Search Business Directory

Diamond Sponsors

  • RW Anderson Services - Logo
  • SERVPRO Seattle Northwest Logo
  • Charter Construction - Diamond Sponsor
  • Columbia Bank - Diamond Sponsor
  • HUB International - Diamond Sponsor
  • Community Association Underwriters (CAU) - Diamond Sponsor
  • JJ2 Building Consultants Logo
  • Agynbyte Logo
  • ServPro of Edmonds, Lynnwood, and Bellevue West - Diamond Sponsor
  • Superior Cleaning & Restoration - Diamond Sponsors
  • Association Reserves Logo

Chapter Magazine

Community Associations Journal - Jan/Feb 2020 Issue - Cover

Calendar

February 2020

Sun Mon Tue Wed Thu Fri Sat
1
2
3
4
5
  • Communications Comm Mtg
6
  • CA Day Committee Mtg
7
8
9
10
11
  • Law Day Comm Mtg
  • Education Comm Mtg - WSCAI
12
  • M4MD Comm Mtg
  • Board Meeting
13
  • Membership Comm Mtg, Marriott Redmond Town Center
  • Chapter Luncheon
14
15
16
17
18
19
  • Community Outreach Committee Mtg - WSCAI
20
  • M-350
  • Market Expansion Comm Mtg
21
  • M-350
  • LAC Zoom Call
22
  • Aging in Place Seminar
23
24
25
  • Business Partners Comm Mtg
26
27
  • Social Committee Mtg
  • Bowling for LAC
28
29
Advertise With Us - Click to find out how! WSCAI

Bowling For LAC

Bowling For LAC

[ Events ]

Bowling For LAC

WSCAI People Holding a Seminar Banner
WSCAI People Holding a Seminar Banner

2 p.m. to 5 p.m. at Bowlero South in Tukwila

Join us for our annual fundraising event in support
of the Legislative Action Committee (LAC)!

Spare some time to help (LAC) get a Strike!

Join us at Bowlero South Seattle in Tukwila for WSCAI’s Annual Bowling For LAC Charity Event to support and raise money for the Chapter’s two lobbyists and the Legislative Action Committee (LAC) with all their efforts in Olympia. The support that you give will assist with this extremely important advocacy.

Love to bowl and want to bring your friends? Register your entire team (6-8)! Or, feel free to register individually and you’ll be assigned to a team. Don’t bowl? No worries, please come and cheer on your favorite team and network with industry professionals. Food and non-alcoholic beverages will be provided to all participants and a no-host bar will be open.

Do you want to sponsor a lane? Contact Michelle Leary at michelle.leary@wscai.org to have your company logo in the spotlight on the web & at the event! Don’t wait, spots are filling fast!

See you Thursday, February 27! Let’s make this the most successful year to date! You won’t want to miss this fun event!

When & Where

Thursday, February 27
2 p.m. – 5 p.m.

Bowlero South Seattle
100 Andover Parkway West
Tukwila, WA 98188

Google Directons >

Pricing

Bowlers
$50 thru 2/19
$60 after 2/19

Pricing

Non-Bowlers
$25 thru 2/19
$35 after 2/19

Legislative Action Committee (LAC)

The Washington Legislative Action Committee (CAI WA-LAC) is a volunteer committee of CAI consisting of homeowners and professionals serving community associations. The CAI WA-LAC works with those living and working in community associations to speak on their behalf with one united voice on legislative and regulatory matters that affect community associations. Responsible for identifying legislative issues of importance to community associations in Washington, the WA-LAC monitors legislation and helps set specific legislative priorities. The CAI WA-LAC builds relationships with and educates state officials to make CAI WA-LAC the go-to resource when they are presented with community association issues.

Lane Sponsors:

CAU (Community Associations Underwriters)
Allana Buick & Bers, Inc.
Barker Martin
Condominium Law Group, PLLC
Farmers – John Galluzzo Insurance Agency
Cascades Cleanup & Restoration
Heritage Bank
1st Security Bank
Pody & McDonald
Superior Cleaning & Restoration
Tatley Grund
Rafel Law Group
ServPro Of Seattle Northwest
Stein, Sudweeks & Stein
Fischer Restoration & Fischer Plumbing
Yalnes, Inc.
P.R.I.M.E.
  • Condominium Law Group, PLLC - General Counsel & Collection Services - Partners Ken Harer & Valerie Oman - Phone: (206) 633-1520 Website: www.condolaw.net
  • Pody & McDonald, PLLC
  • The Copeland Group, LLC
  • Barker Martin
  • Rafel Law Group
  • Newman & Associates Ad 2020
  • HUB - HOA and Condo Solutions

Follow Us

Search Business Directory

Diamond Sponsors

  • Agynbyte Logo
  • Community Association Underwriters (CAU) - Diamond Sponsor
  • SERVPRO Seattle Northwest Logo
  • ServPro of Edmonds, Lynnwood, and Bellevue West - Diamond Sponsor
  • Association Reserves Logo
  • HUB International - Diamond Sponsor
  • Columbia Bank - Diamond Sponsor
  • Charter Construction - Diamond Sponsor
  • RW Anderson Services - Logo
  • Superior Cleaning & Restoration - Diamond Sponsors
  • JJ2 Building Consultants Logo

Chapter Magazine

Community Associations Journal - Jan/Feb 2020 Issue - Cover

Calendar

February 2020

Sun Mon Tue Wed Thu Fri Sat
1
2
3
4
5
  • Communications Comm Mtg
6
  • CA Day Committee Mtg
7
8
9
10
11
  • Law Day Comm Mtg
  • Education Comm Mtg - WSCAI
12
  • M4MD Comm Mtg
  • Board Meeting
13
  • Membership Comm Mtg, Marriott Redmond Town Center
  • Chapter Luncheon
14
15
16
17
18
19
  • Community Outreach Committee Mtg - WSCAI
20
  • M-350
  • Market Expansion Comm Mtg
21
  • M-350
  • LAC Zoom Call
22
  • Aging in Place Seminar
23
24
25
  • Business Partners Comm Mtg
26
27
  • Social Committee Mtg
  • Bowling for LAC
28
29
Advertise With Us - Click to find out how! WSCAI

The Best 4 Financial Reports For HOAs & Condo Communities

The Best 4 Financial Reports For HOAs & Condo Communities

[ Blog/News ]

The Best 4 Financial Reports For HOAs & Condo Communities

Ihear it all the time, the board gets a stack of paper reports but doesn’t look at them. The reason why? I suspect information overload and not knowing what to look for in each report. It can be overwhelming for a community board member that isn’t used to looking at financial reports.

So how about if you only needed a handful of reports to look at – it would make it simpler and take less time to get a picture of your association’s financial health. The following are my top four financial reports for HOAs and condo communities.

Board members have a fiduciary responsibility to exercise due care and diligence when overseeing the community and its funds. These 4 reports are vital tools for protection of association assets, control and planning:

Best 4 Financial Reports

[1] Aged Delinquency Report

Aged Delinquency Report Example

This aged delinquency report/aged owner balance report shows who is behind in their assessments. Different reports can also break out the delinquency by type of charge owed (assessment, late fees, etc). The board needs to review this at every board meeting to see what action needs to be taken at certain late dates (30, 60 days) like sending a demand letter or turning the account over to a collection attorney or agency.

If you get behind in collections it can cause a problem with services at your community and worse, you may not be able to collect the entire past due amount depending on your state laws and how long it took you to commence a legal action. Some states only guarantee collection of 9 months past due assessments and it takes a few months for the action to work itself through the courts so if you are owed a year you may only get 9 months – ouch!

[2] Comparative Income & Expense Report

Comparative Income & Expense Report Example

This is my favorite report to run for the association. The Income Statement is meant to inform how the association is doing compared to budget. It shows the current period actual expense, budgeted expense and any variance between the two. It also shows the same thing for the year to date.

When you see a variance it is a warning flag to ask why and dig deeper. It can also allow you to make up any shortfall quickly so you don’t cripple your community’s cash flow and vendor payments. For example if you are spending more on snow removal than budgeted due to an extreme winter you can do a special assessment right away to cover the shortfall while it is still cold and owners are more understanding.

[3] Balance Sheet

Balance Sheet Example

A balance sheet is an important part of the financial package. It tells where the association stands with their asset, liability and reserves at a particular point in time. There are three key accounts on a balance sheet that association officials should pay special attention to:

  • Cash in the Operating Checking Account – shows ability to meet current operating expenses.
  • Accounts Payable – shows how much is owed to vendors and service providers.
  • Capital Reserves – shows how much is available for major capital repair and replacement projects in the near and distant future.

[4] Bank Reconciliation Report

Bank Reconciliation Report Example

The Bank Reconciliation report is used to “prove” that the cash assets shown on the association’s books and balance sheet agree with what the bank statement shows. The reconciliation takes into account outstanding checks that have not been processed by the bank as well as deposits of cash that have not been processed by the bank. There should not be any difference it should be $0 but if there is a difference it is a flag for you to look into something further.

Additional Reports to Consider:

Bank Statements

Bank statements are another tool to ensure you are not a victim of theft. Plus, you can easily see how much money you have in the bank. Bank statements are easier to understand than the balance sheet since we’re all used to looking at them and they show the current amount of money in the bank account(s), recent deposits and withdrawals.

Current Capital Reserve Plan

You don’t need a fancy report, but you should have something that shows how much money you have set aside and the anticipated cost for replacements and larger capital projects. This report is far superior than looking at a capital/ reserve bank account which can be deceiving. You may think you have a lot of money saved but if you had a big roofing or paving project it could be wiped out with no funds for other projects.

As a volunteer board member, you only have so much time to dedicate to operating your community. There are emergencies to deal with, vendors, projects and of course financial and administrative tasks. A large part of your responsibility is your fiduciary responsibility to the community. Overseeing that the community funds are safe and being spent properly is of high importance. End Of Article

This article first appeared in the Jan/Feb Issue of Community Associations Journal.

By Russell Munz, CMCA

By Russell Munz, CMCA

Russell Munz, CMCA is the  founder of Community Financials which provides stress-free financial management to self-managed communities and managers nationwide.  Previously, Russell grew a successful 41-person full-service management company over 16 years; he now provides big company systems and processes to a new audience.

  • Newman & Associates Ad 2020
  • HUB - HOA and Condo Solutions
  • Pody & McDonald, PLLC
  • Condominium Law Group, PLLC - General Counsel & Collection Services - Partners Ken Harer & Valerie Oman - Phone: (206) 633-1520 Website: www.condolaw.net
  • Rafel Law Group
  • The Copeland Group, LLC
  • Barker Martin

Follow Us

Search Business Directory

Diamond Sponsors

  • SERVPRO Seattle Northwest Logo
  • Charter Construction - Diamond Sponsor
  • HUB International - Diamond Sponsor
  • Association Reserves Logo
  • RW Anderson Services - Logo
  • Agynbyte Logo
  • Community Association Underwriters (CAU) - Diamond Sponsor
  • ServPro of Edmonds, Lynnwood, and Bellevue West - Diamond Sponsor
  • Columbia Bank - Diamond Sponsor
  • JJ2 Building Consultants Logo
  • Superior Cleaning & Restoration - Diamond Sponsors

Chapter Magazine

Community Associations Journal - Jan/Feb 2020 Issue - Cover

Calendar

February 2020

Sun Mon Tue Wed Thu Fri Sat
1
2
3
4
5
  • Communications Comm Mtg
6
  • CA Day Committee Mtg
7
8
9
10
11
  • Law Day Comm Mtg
  • Education Comm Mtg - WSCAI
12
  • M4MD Comm Mtg
  • Board Meeting
13
  • Membership Comm Mtg, Marriott Redmond Town Center
  • Chapter Luncheon
14
15
16
17
18
19
  • Community Outreach Committee Mtg - WSCAI
20
  • M-350
  • Market Expansion Comm Mtg
21
  • M-350
  • LAC Zoom Call
22
  • Aging in Place Seminar
23
24
25
  • Business Partners Comm Mtg
26
27
  • Social Committee Mtg
  • Bowling for LAC
28
29
Advertise With Us - Click to find out how! WSCAI