Accounting and Financial Reporting
Using accepted accounting principles, we manage every aspect of accounting and financial reporting. We understand that consistent and accurate financial reporting is required for board members to be comfortable with the financial status of their association.
Infinity Real Estate Group, Inc, has implemented internal controls to support board member interest in protecting association funds. The HOA Operations Manager, who is most familiar with the community’s funding, codes all invoices to the appropriate accounts. To better serve the vendors providing service to your community, we process those invoices and schedule check runs weekly.
The financial statements generated for each community are reflective of our end-of-the-month recording process. As soon as the recording process is complete, these statements are emailed to all Board Members accordingly. These statements are also available by request, full or partial.
Infinity provides an annual draft budget to board members ahead of the required budget approval. This is done to allow the Board of Directors a sufficient amount of time to evaluate where costs need to be controlled, spending parameters, and future planned projects. Our accounting department assists in providing records for required annual independent audits of the association’s financial records.
Billing and Assessment Collection
Infinity Real Estate Group, Inc. understands that assessments are the lifeline of community association’s financial stability. As such, we have implemented many services to pursue the collection of assessments.
In partnering with Buildium Property Managed, homeowners can access their Homeowner Portal located on the Infinity Real Estate Group website to pay online using either an electronic fund transfer or credit card payment, to secure the communities’ assessments. For access Homeowners are required to submit their email address to the communities HOA Operations Manager, who can then grant the homeowner account access.
We manage the association’s assessment and collection policy as directed by the board. Collection status or delinquency aging report can be provided with the monthly management report by Infinity for Board of Directors if so desired.