Page 4 - Comprehensive Solutions for Waterway Palms Plantation

Confidential Report for Waterway Palms Plantation

3. Strong Financial Oversight

Concern: The Board Treasurer needs a stronger relationship with the management company’s Financial Controller for
accuracy, oversight, communication, and timely reporting.

Question: How do we reduce errors, assure proper coding, maintain good communication, and ensure timely reporting?

Solution: Tradd Management enhances financial oversight and communication through:

 Direct Communication Channels: Dedicated lines between the Board Treasurer and Tradd’s Financial Controller
via email, direct phone, or in person.

 Regular Financial Reviews: Standardized process with multiple checks and balances, scheduled reviews, and
audits for accuracy and compliance.

 Proper GL Coding and Reporting: Clear, detailed reports connecting general operations with reserve budgets
and cash investments. Multiple verification processes ensure accuracy and reduce the Treasurer’s workload.

 Continuous Training: Ongoing training for financial staff to stay updated on best practices and regulatory
changes, with self‐evaluation to identify improvement areas.

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