Each month our property management company prepares a balance sheet showing our asset, liabilities & owners equity.
The report also shows the ongoing balances in all the reserve accounts. Such as, wells & irrigation, landscaping, lakes & fountains, entrance ways, roads & bridges and interest accounts (cd's interest ). These reserve balances are established in accordance with the Florida State Statutes for homeowner associations. Chapter 720.303, (6) budgets, section a thru h. Go to our web link page and select the Florida Statutes link for further explanation.
