Managing HOA Funds

Safely And Securely

At JSN Property Management, one of the most important services we provide is the safe and secure management of homeowners associations and community association funds. We set up separate bank accounts – operating funds and reserve funds – for each association and, with the board’s input, we design strict parameters for how money is handled.

For example, this is our five-step process for approval of invoices and payment:

Step 1:   When an invoice comes in, it is approved by our Accounts Payable clerk and scanned into our database that can be accessed through the Intranet.

Step 2:   We send the invoice out for approval, according to the parameters that the HOA board has set up in advance. Typically, invoices require approval from two board members.

Step 3:   The invoice is also approved by the Community Manager at JSN who is assigned to that association.

Step 4:   The invoice receives final approval from an operations officer at JSN.

Step 5:   A check is generated with an electronic signature and the invoice is paid.

At any point in the process, at any time of the day or night, board members can log into our state-of-the-art Intranet and view invoices, general ledger accounts and all other financial information pertaining to the association.

Our HOA funds management systems and protocols are secure and efficient, which prevents fraud and ensures that legitimate bills are approved and paid on time.

Please note: JSN Property Management also carries a “crime and fidelity” bond which, in the event of a criminal act, provides insurance coverage for all of the funds that we manage.

For more information on management of HOA or community association funds, please call (303) 482-2213 or e-mail contact@jsnproperty.com.

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