Subject
Money
179 lessons across 7 courses. Each one is about three minutes, cites its sources, and stands on its own.
Course
Financial Statements for Non-Accountants
- HOA accounting 101
- Cash vs accrual accounting
- Chart of accounts
- Balance sheet
- Income statement
- Budget-vs-actual report
- General ledger
- Trial balance
- Accounts receivable
- Accounts payable
- Prepaid expenses
- Accrued expenses
- Fund balances
- Operating fund
- Reserve fund
- Restricted funds
- Bank reconciliations
- Reading financial statements
- Questions directors should ask every month
- Spotting unusual transactions
- Understanding variance reports
- Financial dashboards
- Year-end financial package
Course
Budgeting
- How an HOA budget works
- Building the annual budget
- Historical spending analysis
- Forecasting expenses
- Inflation
- Contract increases
- Utility forecasting
- Insurance budgeting
- Payroll/personnel budgeting
- Landscaping budgets
- Maintenance budgeting
- Reserve contributions
- Bad-debt allowance
- Contingencies
- Budget assumptions
- Zero-based budgeting
- Prior-year budgeting
- Multi-year forecasts
- Budget workshops
- Board budget approval
- Member budget approval where required
- Budget disclosures
- Budget ratification
- Midyear budget changes
- Emergency budget adjustments
- Surpluses and deficits
- Avoiding chronic underbudgeting
Course
Assessments
- What are assessments?
- Regular assessments
- Special assessments
- Capital assessments
- Reimbursement assessments
- How assessments are calculated
- Equal vs percentage allocations
- Condo common-expense allocations
- Raising assessments
- Assessment caps
- Budget-driven increases
- Special-assessment approval
- Assessment notices
- Payment schedules
- Owner ledgers
- Prorations
- Assessment credits
- Refunds
- Waiving assessments
- Why assessments aren't optional
Course
Collections & Delinquencies
- Building a collection policy
- Late fees
- Interest
- Payment reminders
- Demand letters
- Payment plans
- Hardship arrangements
- Applying owner payments
- Collection agencies
- Association attorneys
- Liens
- Lien priority
- Foreclosure
- Judicial vs nonjudicial remedies
- Bankruptcy
- Owner death
- Probate
- Mortgage foreclosure
- Bank-owned properties
- Tenant rent interception where permitted
- Writing off bad debt
- Fair Debt Collection Practices Act considerations
- Consistency in collections
- When to pause collection action
- Reporting delinquencies to the board
- Protecting confidential collection information
Course
Banking, Cash & Internal Controls
- Choosing HOA bank accounts
- Operating accounts
- Reserve accounts
- Money-market accounts
- CDs
- Treasury products
- FDIC coverage
- Investment policies
- Who should be a signer?
- Dual approvals
- Positive pay
- ACH controls
- Wire controls
- Check controls
- Debit and credit cards
- Petty cash
- Online banking access
- Separating duties
- Preventing embezzlement
- Fraud warning signs
- Vendor fraud
- Invoice fraud
- Fake board-president scams
- Bank reconciliation controls
- Monthly financial review
- Changing signers after elections
- Emergency access to association funds
Course
Reserves
- What are reserves?
- Why reserves matter
- Operating vs reserve expenses
- What is a reserve study?
- Physical analysis
- Financial analysis
- Component inventories
- Useful life
- Remaining useful life
- Replacement cost
- Percent funded
- Fully funded balance
- Baseline funding
- Threshold funding
- Full funding
- Statutory reserve requirements
- Updating reserve studies
- Funding reserve contributions
- Inflation assumptions
- Interest assumptions
- Reserve investment
- Using reserve money
- Borrowing from reserves
- Reserve loans
- Deferred maintenance
- Underfunded reserves
- Catch-up funding plans
- Reserves vs special assessments
- Communicating reserve needs to owners
- Board responsibility for long-term assets
Course
Taxes, Audits & Financial Compliance
- Do HOAs pay taxes?
- Federal HOA taxation
- Form 1120-H
- Section 528 basics
- Form 1120 considerations
- Exempt-function income
- Non-exempt income
- Interest income
- State tax returns
- Sales/use taxes where applicable
- Payroll taxes
- 1099 reporting
- W-9 collection
- Audits
- Reviews
- Compilations
- Agreed-upon procedures
- Choosing a CPA
- Reading an audit report
- Management letters
- Tax filing calendars
- Corporate registrations
- Registered agents
- Annual reports
- Beneficial-ownership/compliance developments
- Financial record retention