Insight Financial Consulting LLC

I will conduct a comprehensive analysis of your Homeowners Association’s (HOA) financials and provide you with a concise 1-3 page summary that clearly outlines my findings. My goal is to present this information in a way that is straightforward and easy to understand. Below are some of the key areas I’ll examine and the questions I aim to answer in your summary.

• Budget Accuracy: I’ll review the HOA’s budgets to ensure they accurately project expected costs and reflect sound financial planning.

• Budget vs. Actuals: I’ll compare the budgeted amounts with the actual income statement to confirm that funds are being managed effectively.

• Reserve Fund Analysis: I’ll assess the factors contributing to the current reserve status and evaluate the rate at which the HOA is contributing to reserves, ensuring they’re adequately preparing for future repairs and maintenance.

• Dues and Assessments: I’ll examine the historical rate of HOA dues increases, any past special assessments, and what these trends indicate for the future.

• Deferred Maintenance: I’ll look for signs of deferred maintenance and estimate the potential out-of-pocket costs to you if the community needs to address these issues.

• Reserve Sustainability: If the reserve status is low, I’ll project how long until funds may run out and estimate the potential increase in HOA dues needed to replenish reserves.

• Reserve Study Compliance: If the HOA’s reserve study is outdated, I’ll analyze the current financial position and assess whether the HOA has followed through on the study’s recommendations or improved their financial standing.