The TeamMeet the People Making Things Work

 

The controller’s office is responsible for all accounting functions of the Association, including the banking and recording of all income and expenses of the Association. The Controller is responsible for the production of periodic financial reports, maintenance of an adequate system of accounting records, responsible for cash management and risk management, and maintaining a comprehensive set of controls and budgets designed to mitigate risk, enhance the accuracy of the Association's reported financial results, and ensure that reported results comply with generally accepted accounting principles standards. Position reports to the General Manager of the Association.

Financials

The financial statements are prepared on the accrual basis of accounting and in conformity with professional standards applicable to not­ for-profit entities whereby revenues are recognized when earned and expenses are recognized when incurred.

The Association's governing documents provide certain guidelines for its financial activities. To ensure the observance of limitations and restrictions on the use of financial resources, the Association maintains its accounts using fund accounting. Financial resources are classified for accounting and reporting purposes in two funds established according to their nature and purpose. The operations fund is used to account for the financial resources available for the general day-to­ day operations of the Association. The replacement fund is used to accumulate financial resources designated for future major repairs and replacements.

Membership in the Association is mandatory by virtue of unit ownership. Association members are subject to annual assessments, usually payable in equal quarterly installments, to provide funds for operating expenses and major repairs and replacements. In addition to regular annual assessments, special and/or emergency assessments may be imposed by the Association's Board of Directors, under certain circumstances without member approval. Any excess assessments at year end are retained by the Association for use in the succeeding year.

Assessments receivable at the balance sheet date represents the aggregate amount of assessments due from unit owners. The Association's policy is to retain a collection service and/or legal counsel and place liens on the properties of owners whose assessments are delinquent. In certain instances, foreclosure may be necessary. The collection process is explained in greater detail in the annually distributed delinquent assessment collection policy. Because of these collection procedures, the Board believes that, subject to a reasonable allowance for doubtful accounts, if any, all assessments are collectible.

The Association maintains cash in bank deposit accounts that, at times, may exceed federally insured limits. The Association has not experienced any losses in such accounts. Property and equipment maintained in the operations of the Association are recorded at cost and depreciated using the straight-line method over estimated useful lives of 2 to 20 years. The Association's policy is to capitalize such items with a cost of $2,500 or more.

Financial Documents

You can find documents related to this department in the DOCUMENTS section or by clicking one of the shortcuts to the right. Note that You will need to be logged in to access the documents

Finance Committee Calendar

Association Dues

Quarterly Payments

The TKPOA Board of Directors approved sending quarterly payment invoices instead of a yearly coupon book for this fiscal year at the September 15th, 2015 Joint Board Meeting. Please submit a check with your POA account number for your payment along with the top portion of the invoice enclosed in the return envelope. Your payment should be sent in the enclosed return envelope directly to the Tahoe Keys POA Lockbox Account at the Roseville Bank of Commerce (P.O. Box 1026, Roseville CA 95678). Quarterly Assessments are due on the 1st of each Quarter. A 30-Day Grace period allows you to schedule the payment at your own convenience. All payments not received by the 30th of the month are considered late and will be charged a 10% late fee. Postmarks are NOT honored, so please mail early.

Your quarterly dues are billed as follows:

Period Due Delinquent
Q1 January 1st January 31st
Q2 April 1st May 1st
Q3 July 1st July 31st
Q4 October 1st October 31st

Feel free to give us a call if you have any questions and we will do our best to help you navigate around.

Automatic Payments

The Association now offers (ACH) Automatic Electronic Transfers for your annual and quarterly assessments. Pre-authorized electronic payments mean that homeowners can pay their assessments automatically without writing checks, thus eliminating the potential for late fees.

Funds are scheduled to be transferred on the last business day prior to the Last Day listed in the above schedule. Complete the form below, include a voided check and simply mail your form back. It takes approximately 4 weeks for the Direct Debit Authorization to be confirmed. You will receive a letter confirming your Authorization when it has been finalized. You find the Debit Autorization Form in the Documents section, or here for direct download:

Sending a check - Send Payments to:

Note that the front desk does not accept POA dues payments. All payments are to be mailed to (remember to mark your check with your TKPOA Account Number):

TKPOA
P.O. Box 1026
Roseville, CA 95678

Credit Card Payments

TKPOA no longer offers Credit Card Payments as a payment alternative.

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Don Havard

Accounting Manager
M-F 8:30 am - 4:30 pm
(530) 542-6444 x227
dhavard@tahoekyspoa.org

 

 

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Lisa Suela

Bookkeeper
M-F 8:30 am - 4:30 pm
(530) 542-6444 x222
lsuela@tahoekeyspoa.org