Financial Management

Financial Management

AZCMS excels at helping Associations monitor the financial status of their communities, providing timely, easy-to-read financial reports and supporting documentation.

Clear Accounting

We can also advise you on a variety of financial topics such as full budget development and assessment analysis, including a five-year history of income and expenses with graph and annual budget spread.

  • Timely financial reporting and effective delinquency administration
  • Clear, readable accrual financial statements in accordance with GAAP
  • Investment placements and transactions in compliance with Board policy
  • Maintaining Association funds in an interest-bearing account under the Association’s name and federal identification number
  • Coordinating tax returns, corporation commission filings and audits

AZCMS was founded in 2006 and has over forty years of combined experience managing HOA’s that include condominiums, single family, master planned communities, mixed-use developments, and commercial associations.

AZCMS does not own any ancillary businesses that provide services to your Association. As your agent we feel that it is in the best interest of the Association to obtain competitive bids. We will then assist the community in selecting the best value and service whether it means contracting with an outside vendor or hiring on-site staff.

Most importantly, we understand that the HOA business is a people business. And while we are large enough to provide the expertise to successfully manage communities, our size and “people-first” orientation give us a style and flexibility that is truly unique.

We also feel it is our responsibility to take a leadership position – getting the work done, then reporting to the Board on all that has been accomplished. That way, Board Members don’t have to be engaged in day-to-day operations unless they choose to be. We serve Boards in whatever manner best suits their working style.

It is a company policy that each AZCMS staff member attends continuing education courses through our affiliations with Community Association Institute (CAI) and Arizona Association Community Management (AACM). Our senior leadership team is one of the best in the business and provides training classes to Boards in our training room. We also extend invitations to our Board Members to attend legal seminars and lunches with us.

Homeowners have the ability to make payments by mail to the association lock box; online using a debit card, credit card, e-check; enrolling in the auto debit program with AZCMS; initiating payment through their own online bill pay provider; dropping off payments to the AZCMS office or on-site if applicable.

Our technology streamlines communication between the Board, residents and management. AZCMS offers web based real-time access to information. Portals allow residents to view and print account activity in addition to the ability for them to pay online. Staff is always available to email, fax or mail account history.

Communication is key to the motivation of collecting assessments. People are more likely to voluntarily pay into something when they see results. We recommend that all Boards communicate with residents frequently about improvements or plans for future improvements no matter how small.

In this economy it is also important to keep in constant contact with homeowners. We do this in accordance with the collection policy however we continue to communicate with homeowners at every chance we get.

Many management companies only employ “bookkeepers” to manage their clients’ finances. AZCMS is a firm believer in employing highly educated accounting personnel.

We are committed to making sure Board Members understand the financial status of their community. Financial reports are sent out systematically each month to all of our Associations whether or not there is a meeting. We send out all supporting documentation, including bank statements, with the financials and take the time to condense information into easy-to-read reports. Our Controller is available to clients and enjoys any opportunity to meet with Boards throughout the year.

We are extremely proud of our excellent customer service. We take the time to listen, offer suggestions and most importantly educate. HOA’s must govern themselves in accordance to the documents however most homeowners do not have that level of understanding. Once they understand they are more likely to try and be part of the solution.

First and foremost, it is important that the Board Members understand the importance of leading by example. Violations can quickly become “contagious”. It is no surprise that the same is often true of compliance and cooperation. Again, homeowner education is key to any successful compliance program.

In addition we provide monthly compliance reports to the Board reflecting all recent activity.

We are extremely dedicated to making sure the Board understands the financial status of the community. Financial reports are sent out systematically each month to all of our associations whether or not there is a meeting. We send out all supporting documentation to include bank statements with the financials and take the time to condense information into easy to read reports. Our controller is available to you and would love the opportunity to meet with the Board throughout the year.

The budget process is extremely important to every community. The decisions that a Board makes today may benefit or ultimately devastate a community several years down the road. It is important to understand the fiduciary duty that each Board Member has the obligation to abide. We conduct all the preliminary research and construct a recommendation to the Board using the past trends and information we know about the future. We then work together to make sure the budget is finalized into a plan for a successful year.

There is no question that our dedication to employee education is unique within this industry. In the state of Arizona there are no educational requirements placed on Community Managers – think about what that means to your community.

AZCMS has made an educational investment both in our employees and in Community Associations throughout the valley. At a national level, the highest certification is that of a Professional Community Association Manager (PCAM®). Currently there are more than 2,000 PCAM’s nationwide with fewer than 120 of them in Arizona. We are proud to say that our team members currently hold this certification. In addition, we require all of our managers to obtain certifications at a state level. Hire a company that invests in their employees and you’ll have one that also invests in your community.

Selecting a management company is an important decision. Many times we hear Board Members talk about the financial element of a proposal rather than the service benefits to the community. You must make sure that the services and level of experience and education that each firm is offering is carefully considered. We place a great deal of importance and value on the education of our managers and you should too. We all rely on educated professionals in our personal lives whether it is a CPA for our tax preparations or a lawyer for legal advice.

Why would you consider anybody other than highly educated professionals to manage one of your biggest investments? Remember that the price of management is a single line item, while the price of poor management affects the entire budget.

Ready to Learn More About How We Can Assist?

Complete this form if you are interested in receiving a proposal to manage your community.

This field is for validation purposes and should be left unchanged.

  • Alcantara Villas
  • Arizona Capital Art Museum
  • Arizona Mills Mall
  • Arrowhead Plaza
  • Arroyo Verde
  • Banner Estrella Medical Center
  • Barclay Place
  • Bent Tree Desert Estates
  • Biltmore Courts II
  • Bosa Donuts
  • Capistrano I
  • Capriana
  • Carefree Crossing
  • Casa Privada
  • Cheney Place
  • Colonia Verde
  • Concentra Urgent Care
  • Continental East
  • Crackers and Co. Cafe
  • Denim & Diamonds
  • Desert Sky Mall
  • Desert Trails Bike Park
  • Discover at Peak View
  • Discovery at Tatum Place II
  • E-Z 8 Motel Phoenix
  • Eagle Bluff
  • Eastwood
  • Emmanuel Lutheran Church
  • Esplanade Place
  • Estate Antigua
  • Garcia's Mexican Restaurant
  • Gateway Pavillions
  • Greenway Hills
  • Heritage Village IV
  • Hilton Casitas
  • Hyatt Place Tempe
  • Ironwood Village
  • Kierland Greens
  • Kohls
  • La Casa Royale
  • Legacy at Freeman Farms
  • Linden Townhouse Condominium #2
  • Los Gatos
  • Los Palacios
  • Lowe's Home Improvement
  • Maryland Park West
  • Merrill Cantatierra
  • Mesa Community College
  • Montelena Villages
  • Monterey Point
  • Montessori Education Center
  • Montevista
  • Mountain Rose
  • Nora Asian Fresh
  • Old Stone Ranch
  • One Carefree Place
  • Organ Stop Pizza
  • Parc Side III
  • Park Village
  • Pottery Place
  • Presidio Condominiums
  • Pueblo El Mirage
  • Safeway
  • Saguaro Mountain
  • Salad n Go
  • Sand Flower
  • Sierra Boulders
  • Sierra Norte
  • Sterling Place
  • Stoneview
  • Sungate at Moon Mountain
  • Surprise Farms Community Park
  • Surprise Stadium
  • Target
  • Tatum Village
  • Tempe St. Lukes Hospital
  • The Bon Vie
  • The Offices at Kierland
  • The Premier Condos
  • Troon Ridge
  • Village at Frank Lloyd Wright
  • Vista Monterey
  • Westgate Entertainment District
  • Woodgeln Unit Six