About the Course:
In this course, we discuss several of the many aspects of financial management in community associations. It includes topics like financial records, unbudgeted expenses and they may be funded by the association. We discuss in limited detail the board of directors’ responsibility when considering special assessments, investment of funds, transferring funds, and borrowing money on behalf of the association. We also discuss the collection of monies owed by members to the association, and available remedies. We reference provisions of the Florida Residential Landlord and Tenant Act that are applicable to associations that collect rent from members’ tenants. Additionally, we explain estoppel requirements and allowable fees; accrual, cash, and fund accounting. Finally, we describe the financial reporting requirements.
- Understand the unbudgeted expenses and special assessments.
- Identify how associations may use surplus funds.
- Understand association investments.
- Recognize how the association collects assessments, and the remedies for delinquencies that are available to associations.
- Understand collections, liens, and foreclosure processes.
- Comprehend the prohibition for use of debit cards in condominiums.
- Understand the required bank information that a condominium must send to the DBPR annually.
- Comprehend accrual, cash, and fund accounting.
- Identify required financial reports.
- Understand financial records retention requirements.
- Be familiar with association income tax laws.
About the Author:
Laura Matijak, Program Director, Community Association Manager, Instructor, received her CAM (CAM 23249) license in 2001. She has worked as both a portfolio manager and an onsite manager, manager for a client association. Since 2004, she has achieved four National designations in the industry Certified Manager of Community Associations; Association Management Specialist; Professional Community Association Manager; and Florida Legislative Alliance Delegate. Ms. Matijak has a B.A. and a M.S. (Human Resource Development and Administration and Organizational Leader-ship), both from Barry University. Ms. Matijak served as an adjunct professor for adult education at Barry University, from 2005 to 2012, conducting courses for individuals seeking both graduate and undergraduate degrees in Human Resource Management; Human Resource Development; Public Administration; and Organizational Leadership. She also is a licensed real estate sales associate. Ms. Matijak joined Gold Coast Professional Schools in 2015 as a CAM instructor, and has assisted Patricia Rogers, the Program Director who has since retired. Active instructor of pre-licensure courses.
How to receive credit:
- Read the entire course online or in print which requires a 3-hour commitment of time.
- After completion of the course, complete the final examination. A passing grade of 75% is required. Test questions link content to learning outcomes as a method to enhance individualized learning and material retention.
- Note to Nursing professionals: Depending on your state requirements, you will be asked to either affirm that you have completed the course, or you will be required to complete the Post-test included in the course.
- Provide required personal information and payment information.
- Complete the mandatory course evaluation.
- Print your Certificate of Completion.
Resolution of Conflict of Interest
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The information provided in this activity is for continuing education purposes only and is not meant to substitute for the independent medical judgment of a healthcare provider relative to diagnostic and treatment options of a specific patient’s medical condition.
©2024: All Rights Reserved. Materials may not be reproduced without the expressed written permission or consent of Colibri Healthcare, LLC. The materials presented in this course are meant to provide the consumer with general information on the topics covered. The information provided was prepared by professionals with practical knowledge of the areas covered. It is not meant to provide medical, lega