CRCCA 2010 Financial Reports Explained
Coral Ridge Commercial Condo Association financial reports are generated by G. F. Business Services located at 2421 Shreve Street, Suite 115, Punta Gorda Florida. The CRCCA Balance Sheet is pictured below.
The latest Balance Sheet available is presented on this web page below. The CRCCA Balance Sheet tracks CRCCA assets and liabilities. These reports are updated at lease biannually and posted yearly after January 15th and July 15th so the financial data collected may be more reliable. If time allows, these reports will be updated quarterly on the 15th of the month following the end of the quarter. Up to date reports may also be posted and copied for distribution at the yearly Board/Owners meeting. The Balance Sheet report below is the most current year to date.
The Profit & Loss Statement presented on the following web page indicates moneys collected through rental of common property and owner monthly condo maintenance fees balanced against expenses (click here or on P&L Statement tab to left). The P&L Report correlates very well with proposed budget changes for the following year. The P&L Year to Year Comparison report compares the prior calendar year with the current calendar year. This report follows the P&L Statement on the next web page. These data will be used to generate the proposed budget for discussion and approval at the yearly Owners Meeting and Board Election. In addition to the expenses presented in these reports and additional $5,000.00 should be added to our “Repair and Replacement Fund” (Road Fund) on a yearly basis.
The CRCCA Owner Open Invoice Report or “OWNER OPEN INVOICES” shows the individual owners’ monthly condo fee total payments including late fees and penalties to date (see CRCCA Owner Open Invoice Report - tab to left of this page). Negative numbers indicate payment in advance, positive numbers indicate the payment for the month or months has not been received or processed. Although this may seem counter intuitive, the Quick Books program used by our Book Keeper tracks payments this way. If you pay ahead, CRCCA owes you maintenance fees so the CRCCA tracks the payment as a liability (NEGATIVE NUMBER). If you are behind in payments, CRCCA tracks your maintenance, late & penalty fees as moneys owed to CRCCA (POSITIVE NUMBER).
The A/R Aging Summary indicates the aging of the outstanding balance by owner by delinquent month (see CRCCA A/R Aging Summary - click on tab to left). The yearly Balance by Owner and A/R Aging Summary are calculated from Jan 1 through the current quarter of the current year. Administrative fees and Interest fees are included. Several owners use direct deposit to avoid payment of Administrative fees and interest.
The current Balance Sheet financial report may be viewed below. To view an enlargement of these documents, double click on the report. Your Acrobat program will boot and in a few seconds the report will appear. You may copy the PFD file into your computer then view and/or print it from your free downloaded Acrobat Program.