WHAT IS YOUR DEFINITION OF CREATING A SENSE OF COMMUNITY?
Creating a sense of community to me is about honesty, openness and always willing to lend a hand to one another .
WHAT IS YOU FAVORITE WORK MEMORY?
Receiving a raise and playing Whirlyball!
WHERE DO YOU SEE YOURSELF IN 5 YEARS?
Expanding my career with Diversified!
Pizza and BBQ
WHAT DO YOU LOVE TO DO OUTSIDE OF WORK?
Enjoying the outdoors with my family and cruising around on my Harley Davidson.
Diversified Association Management strives to educate both the Board Members and Homeowners on how to read, and understand, your Association’s financial statements. At first glance, they can seem overwhelming and foreign to most, however with a little explanation you can see clear indications of an Association’s health, or indications of possible concerns.
In looking at the Balance Sheet, the top section starts with the Assets, first with your bank accounts (cash on hand). You may see that the Association has several bank accounts ranging from Operating, Reserves, CD’s, Prepaid Assessments, or Insurance Claim Accounts. Each of these accounts have a specific purpose.
The next section will be your Liabilities (money the Association owes) and Equity. Equity is an accumulation of the net income and/or net losses over the years since the inception of the Association. Basically, if the Association were to disband, this is the amount that would be owed, or due if negative, by the owners based on the same calculation of assessments paid (i.e. normally equally or based on a percentage of ownership).
To learn more about how to read the financial statements for your Association, please attend a Board Meeting, training session held by Diversified, or contact your Community Manager for further explanation. Diversified Association Management strives to educate our homeowners and board members on many topics, however transparency and understanding of the financials is key.
Thanks for Reading!
Delaine Elsrode CMCA® - Community Manager
In 2005, Steve and I started what now is one of the largest, most well-respected association management companies in Southern Colorado. We knew from the beginning that by creating an office culture that fosters empowerment, being smart, exercising compassion, and most of all having fun, we would build a team committed to our success.
We believe that living in a HOA community is more than just following rules, it's educating homeowners to understand they are part of something bigger than just their property lines. The idea of helping boards create a sense of community has given us a purpose to what we do. Owning a home in a covenant-controlled community is not for everyone, so we take every opportunity to educate homeowners on the value of living in a HOA.
As we look towards tomorrow, Diversified will constantly strive to be better in life by responding with kindness and encouraging our employees, homeowners, and board members to do the same.
Cheers to 14 years in business!