✓ Homeowners are provided with a coupon book for mailing their monthly dues- This saves the association significant postage and envelope expenses associated with mailing monthly billing statements.

Online Payments- Fidelity offers the ability for the association to accept online payments from homeowners on our website.  There is no set-up or monthly fees. Multiple payment options are accepted for online payment of dues, including Visa, MasterCard, Discover (credit company charges apply), and eChecks (are free).  Plus, homeowners can sign up for recurring payments, avoiding late fees.  Since Fidelity uses a coupon system for collecting the monthly dues, there is no monthly postage expense for mailing billing statements to all owners.

✓ Receive, review and approve for payment invoices for budgeted items and other approved expenditures.   Promptly report to the Board all discrepancies or irregularities in invoices that come to Fidelity’s attention. All vendors are paid by eCheck.  Board approval of vendor invoices is done by email, avoiding envelope and postage charges.

Vendors’ invoices are emailed to the Board in one batch every week for review and approval. Upon Board approval eChecks are promptly initiated from the Association’s bank account for payment of bills. EChecks avoid envelope and postage expenses associated with mailing payment checks to vendors.

✓  Reconcile bank statements for each Association bank account.  Bank statement are available to be reconciled on the first day of each month and made available to the Board after reconciliation without delay.  Board members can review the association’s bank accounts online.

✓  Prepare and furnish monthly to each Director a detailed financial statement, which includes the following:  Income Statement, Budget Comparison, Balance Sheet, Trial Balance, Income  Register/Cash Receipts Journal, Accounts Receivable Report, Expense Register/Cash Disbursements Journal, and Accounts Payable Report, Bank Statements, and Bank Reconciliations.  Also furnish annually or as requested a complete General Ledger.  Financial reports can be emailed to the Board to save on postage and copy expenses.

✓  Assist the Directors in the preparation of a pro forma operating budget, as required by Civil Code, and distribute the Board-approved budget to the Association Members not less than 30 days nor more than 90 days prior to the beginning of the Association’s fiscal year.

✓  Maintain complete and accurate financial books and records, in accordance with generally accepted accounting principles.

✓  Assist the Association and its bookkeeper, certified public accountant, or other financial consultant in preparing routine tax returns, audits and financial reviews.

✓  Distribute copies of the year-end financial review to Association Members within 120 days after the close of the Association’s fiscal year.

✓  Provide assistance for preparation of a periodic Reserve Study.

✓  Prepare and file 1099s and 542s per Federal and State requirements.

 Follow through with the collection of delinquent accounts. This includes:

Notifying homeowners of their delinquency and liens to be recorded;

Recording liens, as provided in the CC&Rs and in accordance with the Association’s collection policy;

Obtaining a money judgment against the delinquent owner;

Execution of judgment (wage garnishment, bank account levy, etc.);

Initiating foreclosure proceedings, if instructed by the Board;

Taking other appropriate, legal and collection actions, such as Small Claims Court lawsuits, garnishments, and the like; and

Providing detailed status reports to the Board.