Understanding Your Financials
Board Member Training Class
Resurgens Plaza – 14th Floor Classroom
12:00 PM – 1:30 PM (Lunch provided)
June 19, 2019
James Hawthorne is a licensed CPA, real estate broker, and instructor. As a former owner of a management company, James now enjoys sharing his knowledge and experience of managing community associations with others. James is also one of the instructors for the Community Association Mangers Pre-Licensing Class taught by NowackHoward.
Community Association Board Members have the responsibility to make regular financial decisions that affect the entire community. The challenge for many board members is that they have had no formal training on how to read and understand the community's financial statements. The need to understand the financial impact of their decisions has never been more important. We'll review the role of the Treasurer, cover some basic accounting terminology and see how financial transactions are recorded. We'll look at some example financial statements and see the difference between the cash and accrual methods of accounting. We will also discuss how to review a set of financial statements and what specifically to look for. Finally, we will cover how a reserve fund works and how much should be contributed to it. If you want to make the best possible financial decisions for your community, this training is for you.
Registration is not yet open for this class. Please check back as classes open for registration a couple of weeks before the class date.
*Registration is required; seating is limited.