Scope of Services

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As the individual requirements of each Association are assembled, customized proposals are built based on specific needs. IFPM has designed a Scope of Services that includes an overview of services we provide to our Associations.  These services are outlined as follows:

Financial Management

  • Maintain full and accurate records of Association Funds and Expenses. Prepare monthly financial statements consisting of a balance sheet, income/expense statement, general ledger, check register, bank reconciliation, and comparative income statement.
  • Receive, review and pay all approved association bills.
  • Maintain and reconcile a checking account for the Association in a banking institution insured by the Federal Deposit Insurance Incorporation (FDIC).
  • Maintain and assist with reserve funds as directed by the Board.
  • Provide information related to annual federal and state tax returns to the Board or its appointed accountant.
  • Request, demand, collect, and receive any and all assessments or fees which may at any time be or become due to the Association. Based on the Association’s collection policy, we will institute action on behalf of the Association for the collection of delinquent assessments or fees owed to the Association.
  • Prepare a draft annual operating budget for Board of Directors approval.


  • Establish an open line of communication with all homeowners, residents, and Board members to resolve issues, questions, or concerns related to Association business. Any concerns will be handled in a quick, efficient and business like manner.
  • Establish and maintain a current data base on all homeowners.
  • Prepare title company disclosure statements, and all other legally required documents associated with the transfer of property ownership.
  • Ensure Association compliance with all current state legislative laws with regards to community associations.
  • Prepare, copy and mail all correspondence, notices and other required Association documents.
  • Assist in coordinating and attend general membership meetings including the annual meeting.
  • Prepare and mail notices, ballots and agendas as required by the Association.
  • Visit the Association on a weekly basis (or as needed) to ensure CC&R compliance.
  • Enforce violations of the Association’s Declaration and initiate legal action when necessary to obtain compliance and resolve any such violations.
  • Bid, prepare, coordinate and negotiate contracts on behalf of the Association.
  • Act as liaison for the Association and all vendors. Ensure that all requested work is scheduled and completed in a timely and efficient manner as expected.
  • Assist the Association in obtaining insurance coverage, as well as the processing of insurance claims.