Weston Place Condominiums

The Finance Committee’s purpose is to assist the Board in achieving its Fiduciary responsibilities to the Association by:

Maintaining a good working relationship with the Association’s management company and the Developer

Meeting on a regular basis

Establishing reporting system to Board

Establishing financial statements that are accurate, understandable and transparent

Reviewing accuracy of allocation of monthly revenues , reporting delinquent accounts to Board

            Reviewing monthly expenses

            Reconciling accounts

Establishing financial policies for payment of expenditures and collection of delinquencies

Determining a reasonable annual operating budget for approval by Board and Association

Interpreting the operating budget for the Board, the management company and the owners

Providing on-going assistance in identifying, prioritizing,  and reviewing financial needs, projects or changes during the year (including contracts)

Assisting Board with maintaining a viable Reserve Fund

Assisting Board with long range financial planning as it relates to the Reserve Fund

Reviewing market trends regarding investment of reserves with the goal of preservation of capital.

Membership: Finance committee members must posess fundamental knowledge and experience in budgeting, fiance, and financial reports.

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Last Changed:  March 29, 2021 at 4:04 PM

625 N Segoe Road • 608-238-6746 (Building Manager) • 608-209-6266 (24-hour emergency maintenance)