Financial Management

Proficient Financial Management

Strategic financial management is the lifeblood of any thriving community association. At openworldproperties.com, our commitment is to provide comprehensive financial management services that not only ensure meticulous accounting but also focus on value optimization for every dollar spent. We prioritize the needs of your community, offering solutions that are both cost-effective and quality-assured, with a strong focus on people.

Our dedicated team leverages their expertise to offer the best possible services at the most affordable cost. They are constantly on the lookout for ways to enhance operational efficiency, such as strategically bidding on contracts. Our focus is to reduce deficit funding while building trust within the association's membership, ensuring that each dollar is wisely spent.

Financial Services

 

Our financial services cover all aspects of community financial needs:

  • Collections: We manage timely dues collection, promoting healthy cash flow.
  • Payroll: We ensure accurate, timely payroll services.
  • Accounts Payable: We oversee bills and payments to prevent penalties.
  • Budgeting: We aid in budget planning, fostering financial sustainability.
  • Tax Preparation: We navigate tax affairs, ensuring regulatory compliance.
  • Audit Facilitation: We offer support during audits, ensuring smooth interactions with auditors.
  • Financial Statements: We provide clear monthly financial reports, offering insight into the association's fiscal well-being.

financial services

Bookkeeping


Financial reports are prepared monthly and include:

 

  • Balance sheets
  • Income statements
  • Monthly bank statements
  • Accounts receivable listings
  • Check disbursement listings
  • Monthly bank reconciliation of each account
  • Specialized reports
  • Insurance schedule
  • Prepaid reports
bookeeping

Budget Preparation

 

  • Assistance in budget planning
  • Mailing notices within appropriate timeframes
  • Analysis of the previous year’s expenses
  • Forecasting future trends
  • Assisting Boards and Committees in budget workshops
  • Mailing of approved coupons to homeowners
budget prep

Our Approach to Financial Management


We excel at identifying cost savings without compromising service quality. Emphasizing communication and transparency, we ensure all financial decisions are clearly understood. 

We are dedicated to prioritizing your community's financial health, empowering you with tools and insights for informed decision-making. Choose us for a secure and flourishing community under sound financial management.


Get in Touch with Us


For a tailored HOA Management Proposal, feel free to contact us today at 510-250-0946 or simply fill out our Contact Us form. We look forward to delivering custom solutions that meet your association's unique financial needs.

Contact us today by calling 510-250-0946 or simply fill out our Contact Us form for your community’s custom HOA Management Proposal from Openworld Properties.

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