Financial Services
Prepare an annual budget. The budget is generally based on prior operating expenditures, estimated future expenses and required capital replacement reserves.- Preparation, distribution of billing, posting, receiving and depositing of accounts receivable.
- Maintain checking, savings and other banking accounts in the name of the association.
- Bank accounts are maintained separately from all other accounts of Texas Star Community Management. The funds in these accounts will not to be commingled with any other funds controlled by Texas Star Community Management.
- Notify Owners of any delinquency and take reasonable action for the collection of the delinquent assessments as determined by the Board including timely interface with the association attorney and/or collection agency on severely delinquent accounts.
- Make all disbursements from assessments collected for normal recurring expenses as provided in the budget and as approved by the Board.
- Furnish monthly financial reports prepared on a modified accrual basis, which include all income and expenses and reflect the net cash position of the association.
- Assess the Developer for deficit funding associations and provide the necessary information on a timely basis to ensure adequate and timely funding.
- Assist in the annual audit of the association