Page 17 - Ocean Forest Villas Management Proposal
P. 17

Management Proposal for Ocean Forest Villas




               Financial Reporting


               Management software is used for the financial management and reporting for the Association.  A/R and
               A/P will post directly to the general ledger giving you real‐time access to up‐to‐date information available
               through the website. Online A/P voucher approval will be provided for board members. There will be a
               customized lockbox for the Association for processing payments in an efficient manner. Reports provided
               will include operating and reserve account balance sheets, income and expense statements including
               variances from the budget, bank account reconciliation, cash disbursement, A/P aging, delinquent and
               prepaid assessments, general ledger, and any other reports that the board would like provided to them.


               POA Invoicing (Frequency / Description)


               Coupon books will be provided at the direction of the Board of Directors (i.e. annually, quarterly, or
               monthly). With a coupon the owner will have the ability to remit payment directly to the bank via check,
               online bill pay, or credit card or ACH via the portal, all of which assist with keeping delinquency at a
               minimum.

               Insurance


               Tradd Management is insured through McGriff Insurance Agency.  Our company carries Comprehensive
               General Liability coverage including non‐owned and hired auto liability coverage of $2,000,000, we carry
               Fidelity Bond coverage of $2,000,000, we carry Cyber Liability coverage, we carry Professional Errors and
               Omissions Liability of $1,000,000, and we carry Worker’s Compensation which meets the statutory limits
               required by the State of South Carolina.


               Other Business Interest


               Tradd Management does not own any business that provides services for property management outside
               of the Tradd brand. We feel the bid process through qualified contractors is the best indicator of
               controlled cost and unparalleled performance.















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