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Financial: Money, Banking, Insurance

Fraud Is On The Rise & Your Accounts Could Be At Risk!

Fraud Is On The Rise & Your Accounts Could Be At Risk!

DO YOU KNOW WHO has access to your funds and what steps to take to protect your assets? Over the last couple of years, we have seen fraud and the attempt at fraud nearly double. Following are tips on how to be a good steward of association funds and fulfill your fiduciary duty.

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Reserve Study Site Visits & How They Improve Your Reserve Study

Reserve Study Site Visits & How They Improve Your Reserve Study

BY NOW IT’S NO SECRET that most associations within Washington State are required to do annual reserve study updates, with a site visit performed by a reserve study professional every 3rd year. But did you know the ways that the site visit helps make your reserve study that much more useful? You might be surprised!

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Tips To Help Avoid HOA Fraud

Tips To Help Avoid HOA Fraud

COMMUNITY ASSOCIATIONS and their management companies are not immune from online and email fraud attempts and scams. The good news: There are steps you can take to help avoid common fraud tactics and better protect yourself and your communities. We’ve compiled some scams to watch for and tips to help avoid them.

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Four Reserve Rules

Four Reserve Rules

THERE ARE FOUR RULES OF RESERVES that associations should know. Our company has pioneered foundational concepts & principles and provided extensive educational materials to the industry for over 35 years, but all can be distilled down to the rules below as the heart of planning for reserve projects at your association. Fundamental education is key to all of our success, as board members and professionals come and go over time.

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Efficient Audits

Efficient Audits

ASSOCIATIONS WITH DECEMBER 31ST YEAR ENDS make up a large share of annual audits. There is often intense pressure on managers, accounting departments and audit firms to complete accurate and complete audits in a timely fashion. Completing an efficient audit requires strong communication and sharing of information.

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Reserves & Inflation

Reserves & Inflation

THE CONSUMER PRICE INDEX IS at a 40-year high of ~ 7% as of this writing. As we all know, that’s a big deal. Our data and research show inflation of the goods and services relating to the typical association reserve components (roof, paint, siding, windows, decks..) to have been compounding ~25% annually since 2020 – that’s a Really Big Deal.

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Chapter Magazine

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Jan/Feb 2023 Issue

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