Understanding Financial Statements | HOA Board Tips | Cities Management Powered by SenEarthCo

http://www.CitiesManagement.com Cities Management Common Interest Community (CIC) Controller Mike discusses the importance of HOA Board members reading and understanding their common property interest community financial statements. Homeowners association board members can learn to read financial statements properly with these tips and definitions.

The balance sheet provide a snapshot of the home owners association, including assets, liabilities, members' equity, operating fund, replacement fund and an "allowance for doubtful accounts" created for possible bad debt related to unpaid and overdue homeowners association dues. The Income Statement compares actual income and expenses to budget.

Cities Management is a Property Management firm in Minneapolis, Minnesota that manages condo, townhomes and homeowner associations in Minnesota and Wisconsin. Powered by SenEarthCo, Cities Management provides common interest communities and HOA consulting and management services. Cities Management' reliable team of Property Managers can help with all your property management needs.

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• HOA Financial Statements
• Homeowner Association Board
• Understanding Financials
• Income Statement
• Balance Sheet
• HOA
• Community Association
• Cities Management
• SenEarthCo
• Property Management Company
• Minnesota
• Wisconsin