CAI-NJ Feb.2018

MANAGEMENT TRENDS... from page 32.

• Managers should be familiar with all payables and invoices, to ensure that services and goods being billed are correct. • Managers should know where the Association funds for Operating and Reserves are maintained and to make sure that the accounts are properly funded. • Managers should know all budget line items and be familiar with monthly Budget verses Actual Financial Reports. • Managers should keep a record of anticipated expens- es so that proper funding of next year’s budget is docu- mented. • Managers should never accept cash for any association fees. Managers should be able to read and understand month- ly financial reports and be able to advise the Board of cash flow issues. While the above items are basic fundamentals, it is a good idea to restate routine protocol and to practice the above as part of good management. Good management keeps communities secure. n

monitored by Certified Pool Operator; must conform to newest municipal regulations and must have proper fenc- ing, automatic gate closing and walkable pool covers. • Tot Lots and Other Recreation areas – Must be inspect- ed yearly by certified recreation company; must meet newest municipal codes; should be viewed weekly for proper function of equipment and debris; all equipment should be reviewed quarterly for loose parts and chips on equipment and proper condition of ground surface. • Sidewalk and common area cement – All concrete needs to be checked so that trip hazards are repaired; cracks larger than .25 of an inch need to be noted and checked before and after winter freezes. Financial Stability and Fiscal Health is more complicated than monthly financial reports and should be evaluated annually by a Certified Public Accounting firm via audit, however, managers handling day-to--day operations should address the following concerns:

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