The Monthly Management Reports are provided to the Board prior to the Board meeting and is divided into two main sections. The first section concerns the financial condition of the Association, and the second section, the management action items.
The financial section of the Management Report updates the Board on the Association’s condition both in monthly and year-to-date formats. It outlines all cash accounts, investments, and monthly income and disbursement. Detailed explanations on budget variances are also given. In addition, this report includes updates on all co.-owner delinquencies.
The second section of the Management Report informs the Board about all activities that have taken place during the past month. The Management Report updates continuing programs, and presents information and recommendations for new programs. The Report catalogs all essential items for Board action.