PowerStone Property Management Provides Insights to Understanding HOA Financials

Irvine, CA, July 20, 2015 (Newswire.com) - PowerStone Property Management Inc., a full service Orange County, California based property management firm, today announced that a recent event attracted 35 OC HOA Board Members representing some of the many PowerStone managed Associations. The Seminar featured PowerStone’s in-house CPA accounting experts who took Board Members through a step-by-step review of the important and sometimes confusing elements of an HOA financial statement. PowerStone CFO and CPA Michelle Burge led the presentation and reviewed every aspect of an entire financial statement, which highlighted key factors that influence the financial health of Homeowner Associations.

Cindy Cattern, PowerStone’s Director of Community Relations, organized the event, the 5th in a series entitled Board Member Boot Camp. The educational workshops are geared to HOA Boards and are designed to give Board Members timely, accurate and useable information to help them lead their associations.  Cindy said: “The interest was very high for this event and we were very fortunate to be able to use our resident experts on such an important subject.”

Subjects covered included every aspect of an HOA’s financial health from income statements, expense management, and reserve levels to accounts payable and receivable to delinquencies.

According to CFO Michelle Burge: “Delinquencies seem to be of special interest and so it was extra helpful to have some of our other team members attend and help with the questions. All in all it was very interactive, and as a group we covered a lot of ground.”

Board Member Joan Gull of HOA Chapman Homes was thankful for the presentation and later commented: “It gave me a few things to look for on our financials as soon as I got home!”

The PowerStone team also included Steve Romero, Controller and a CPA, and Controller Rita Brantley.

The next Board Member Boot Camp presentation will be held on Tuesday September 29th.

About PowerStone

PowerStone is a very successful and growing property management firm headquartered in Orange County, California. Since 1993 PowerStone has served the CID industry (common interest development) with integrity and professionalism. From professional business planning, governance, and community management, to modern yet easy to use, customized websites and on-line services, PowerStone provides homeowner associations complete and unparalleled service. PowerStone believes that every association deserves the chance to attain their vision for their property and that’s why we created the best combination of people and technology to not only better serve, but also to better achieve. For more information, go to www.powerstonepm.com

For media inquiries, please contact René Decker at [email protected] or 949-716-3998.​