Sentry Management Corporation provides financial statements and reconciled bank statements to the Board each month. This, in conjunction with easy access to property managers and accounting personnel, insures that the Board is always up to date with respect to the financial status of the association.
All association operating and reserve accounts are held at Community Association Banc, a division of Mutual of Omaha Bank. Community Association Banc (CAB) is uniquely dedicated to providing comprehensive banking and financial management services to homeowner associations and other common interest communities. All accounts at CAB are interest bearing and fee free. In addition, CAB offers CDARS and loan programs to the associations.
Collection of Assessments
Sentry Management offers several different payment options for homeowners including online payment and automatic electronic payment. Sentry’s full-time accounting staff insures that receipts are processed quickly, posted accurately, and that past due balances are addressed immediately. Sentry adheres to a strict schedule of collection procedures with respect to past due balances and makes every effort to collect those balances without involving an attorney.
Sentry Management utilizes Village Management Software (VMS) for all association accounting functions. VMS was created specifically for homeowner associations and is constantly being improved to suit the needs of associations. VMS is fully integrated with Community Association Banc, so unit owner payments received by CAB are uploaded to VMS the next business day and the potential for human error in the posting process is virtually eliminated.
Sentry Management employs a strict system of internal controls and procedures to insure that vendor payments are accurate and made in a timely manner. No payment is ever made without approval of the property manager.
"I just want to thank you again for representing us so well at last nights annual meeting. With your well balanced presentation, personable approach and affable meeting leadership, it was a meeting that not only went well but I believe can truly serve as the foundation for lots of productive and cooperative work ahead as a community"
-Jane / Association Board member