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The most current Coral Ridge Commercial Condo Association Open Invoices Report or Customer Balance Summary report is presented below. This report shows, by owner, a summary (total) of payment of Monthly Maintenance Fees. This report summarizes payments, late fees and penalties through the date of the report. All reports are generated by G. F. Business Services located at 2421 Shreve Street, Suite 115, Punta Gorda, FL 33950. This service accesses the CRCCA P.O. Box several times per week to pick up notices and maintenance payments. The payments are entered into their computer data base system when they are received. G. F. Business Services uses Quick Books to generate the financial reports. Administrative fees and interest are accounted for in the “Statement Charge” (Stmt Charge) category in the Quick Books program used by G. F. Business Services.
Because of the way the software works Positive Dollars indicate Fees Owed. Negative dollars indicate Fees Paid in Advance. Owners current with Association accounts are not listed.
Maintenance fees are due the first of the month. By action of the previous board (on April 15, 2005) fees received later than the first of the month are subject to a $15 late fee. By action of the same board, maintenance fees + late fees are subject to an additional $45 penalty if fees are outstanding past 25 days. Documentation of the establishment of this late fee and penalty fee schedule on April 15, 2005 by the previous board may be reviewed by clicking on the Notices tab to the left.
In 2007 the present Board (2006-2008) determined not to assess late fees until sufficient tracking data were accumulated using our present book keeper, G.F. Business Services. All fees were assumed to be current and zeroed out beginning Jan 1, 2006. The present Board (2006-2008) has sufficient reliable data to make reasonable judgments regarding the current status of maintenance fees by owner using this summary report and the A/R Aging Summary (see CRCCA A/R Summary - click on tab to left).
The issue of managing late fees and underpayment of maintenance fees was addressed at the 2008 Annual Members’ Meeting. The membership voted unanimously to change the Association documents to alter the common area ownership, voting and maintenance fee structure. Language for late payment of fees was changed to comply with Florida Regulations. An Administrative charge was instituted for late payment of fees and Interest is applied to any outstanding balance owed in the amount of 18% per annum. The Board has been directed by unanimous vote of the Owners to take legal action (place a lien on the unit) against any owner who remains delinquent in fees owed more than six (6) months or when the threshold amount of $500.00 owed is exceeded.
Several owners listed below as delinquent in their payments to the Association have discussed the problem and have made arrangements to bring their accounts up to date. The process for placing a lien on the units of owners who remain delinquent has begun.
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