1120 Scenic Drive, Modesto, CA 95350

Mon-Fri, 8am-5pm

Financial Services

Financial Services

  • Maintenance of all Association financial records.
  • Preparation of annual financial statements in accordance with Civil Code 1365(b) and distribution to the membership copies of the statement within 120 days after close of each fiscal year.
  • Assessments & Accounts Receivable. Prepare and mail monthly assessment billings to membership. Prepare & maintain individual owner ledgers showing the status of each owner's account. Monitor each owner's payment record. Assessments deposited on behalf of Association in Association financial institution.
  • Accounts Payable. Timely pay all accounts payable as authorized by the Board of Directors.
  • Delinquent Accounts. Preparation of monthly delinquency report and the mailing of any delinquency notices.
  • Budget. Prepare an operating budget setting forth an itemized statement of the anticipated receipts and disbursements for the new fiscal year based upon the then current schedule of assessments and taking into account the general condition of the association. Distribute to members copies of the budget approved by the Board.
  • Reserve Study Analysis. Assistance with obtaining a reserve study analysis to be distributed to all owners as required.
  • Lien Enforcement. Revise as necessary a policy statement for Association's lien rights enforcement procedure in accordance with Civil Code 1365(d). Preparation of lien notices and lien filings (fees charged to delinquent association member).
  • Foreclosure Proceedings. Act as liaison to the Board in retaining legal assistance to initiate foreclosure or collect on delinquent accounts.
  • Tax Return. Assist Certified Public Accountant or Association bookeeper in preparation of tax returns, audits and financial statement reviews.

LPM Logo
PMZ Logo
Community Logo

Liberty Association Management – 1120 Scenic Drive, Modesto, CA 95350 – (209) 548-4578
© 2024 LPM Services, Inc. | DRE Lic. No. 02096526