Page 17 - Ocean Bay Club Management Proposal

Management Proposal for Ocean Bay Club

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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