Page 25 - South Beach Exchange Management Proposal

ManagementProposal for South Beach Exchange

F i n a n c i a l M a n a g e m e n t

▪ Send rent notices or coupon books to assist with payment and record
collections along with any other notices of monies due to the property

owner. Follow up with collections in accordance to the collection
policy adopted by the Owner.

▪ Deposit any excess funds into CDs in the name of the Owner,

insured by the federal government, and approved by the Owner.

▪ Promptly pay approved invoices under the direction of the Owner.

▪ Prepare and deliver monthly financial statements by the 20th of the

following month for the Board to review. Financial statements will
follow the GAAP standards. Tradd Management will provide any

reports as requested by the Owner.

▪ Annual budgets will be prepared and proposed to the Owner along
with CAM budgets. Meetings will be set to revise and finalize the
budgets.

▪ Records will be maintained in order for an accountant to complete

an annual audit and file tax returns every year. All records will be
made available to the Owners and the accountant for the entity.
▪ All records are backed up electronically off site on a daily basis.

▪ Distribute 1099s to applicable vendors and file all forms regarding

1099s to the Internal Revenue Service.

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Myrtle Beach, SC | Greenville, SC | Charlotte, NC
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