“Your association’s financial health is critical. We can develop a customized long-range financial plan to help you achieve your goals.” – Michelle Burge, Powerstone CFO and CPA

Your Association’s Financial Health is Critical. We Can Help.

Our in-house CPA supervises all of our financial services for the associations and communities we serve. By maintaining complete, accurate, and timely financial information we can produce all of the necessary documents your association needs to make sound business decisions.

All Associations are Unique

Powerstone is one of only a few companies that provide full accrual based financial statements. Our fully integrated accounting program is flexible and allows us to customize our financials and reports to fit the unique needs of your association.
From developing pro-forma operating budgets to reserve funding, Powerstone has the resources to protect and maintain the financial health of your association.
We provide the following financial services to our clients:

Monthly Financial Statements:

  • Balance Sheet
  • Income Statement with Budget Comparison
  • 12 month Trend Report
  • Accounts Receivable Aging Report
  • Accounts Payable Report
  • Check Register for both the Operating and Reserve accounts
  • Reserve schedules
  • Bank Reconciliations and Bank Statements
  • General Ledger

Accounts Receivable:

  • Billing Statements, coupon books or E-statements
  • Daily lockbox processing of homeowner payments
  • Multiple payment options, including automated clearing house (ACH);
    as well as on-line payment options and the ability to pay with credit cards
  • Customer Service to assist with billing inquiries
  • Preparation of Assessment Billing & Collection Policy
  • Processing of delinquencies in accordance with the Association’s Assessment Billing & Collection Policy and California Civil Code
  • Preparation of Monthly Delinquency Report
  • Monthly monitoring of delinquent accounts and interface with association collection attorney
  • Escrow processing for refinance and resale transactions (the cost of these services are paid for directly by the owner or escrow)

Accounts Payable:

  • Weekly processing of association invoices
  • Checks are processed out of separate operating and reserve accounts
  • Preparation and mailing of annual 1099 forms to vendors
  • Garnishments
  • Vendor tracking for contractor licenses and insurance
  • Utility reports

Services you can Trust:

  • Investing of Association operating and reserve funds at board direction
  • Preparation and review of annual operating budget
  • Financial consulting and long range planning
  • Assistance with calculation and billing of special assessments
  • Assistance with obtaining loan financing for capital projects
  • Review of annual audits and tax returns