Page 9 - HMS -- Windward RFP -- updated 2017-04-19 1502

4. Financial Management
a. Income and expense responsibility: Process, record and manage auto deposit of dues
et al; pay all bills in a timely manner in accordance with established WCSA policies.
Dues are one-time billing in December. Yes
b. Frequency – Monthly Report to include Balance Sheet, Income & Expense, Aged
Receivables, Investment report; reconciled bank statements, monthly reserve report
with in/out transactions (reconciled to reserve account shown on the Balance Sheet).
Report to be delivered to WCSA no later than the 14 workday of each month.
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Response: HMS routinely provides financial reporting package by the 5 workday of
the month.
c. Budget preparation – annually assist the treasurer in zero-based budget development
and maintain an accurate accounting of income & expense compared to budget Yes
d. Audit: Arrange for Annual Audit
Response: Yes – HMS has worked with several CPA firms and provides CPA firms
with direct access into HMS management accounting software.

e. Investments: Monitor & report on all investments
i. Does Management Company assist in making investments – Please explain
Response: Yes. For premium level clients, our multi-bank treasury
management services are available. Assets (reserve or capital funds) to be
managed under these services would be fully insured by the FDIC.
f. Is Credit card processing optional?
Response: HMS can arrange a credit card for use by the association. Homeowner
payments can be made by credit card through the HMS website or at the HMS offices.
g. Reserve Study – conducted every 3 years, maintain the file and coordinate the vendor
reporting to the Board. Response: HMS has worked with several reserve study firms.

5. Owners Records
a. Database (current & historical)
i. How transitioned?
Response: HMS gathers necessary information from FSR and creates
database entries for management. No data is electronically transitioned between
any management companies in Atlanta.
ii. How maintained?
Response: HMS will maintain for future reference, an online archive of
documents provided to HMS by FSR.
b. Ownership Records
i. Maintain accurate & current records of all owner
Response: Through CINC database
ii. Maintain all modification & Violation records associated with each home
Response: Through CINC database
iii. Prepare and distribute Dues & Violation Status for each pending Sale closing.
Response: Through CINC database and online software used by closing
attorneys.

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