I have been meaning to do this for some time–to give ROT members the most granular look into the Association’s finances that has ever been provided to them. Before becoming Treasurer, I had often requested a copy of our bank statement to get an inside view of where our money was going. I was never given that report. Up until 2022 all we, as members, were given was a tax-basis general condition report from our accountant, who up until then, took care of all our financial duties. Now that we are in charge of our own cash flow accounting, we have access to much more meaningful reports about our finances.

The software that we use to track our money is called MoneyMinder. It is a web application and is, therefore, executed through a browser. Everything is done online and nothing is stored locally. In other words, all the data generated by the software as accounting functions are executed is stored in the cloud–on a server in another state. MoneyMinder is a great fit for our small condo association; it does basic accounting for small non-profits, like us, and is not bloated with too many bells and whistles. It can tell use how much money we have in the bank at any instant and can produce all the reports we need to tell us where our money is coming from and where it is going to.

Each month I provide several reports to the Board of Directors–our monthly statement from First Security Bank, a financial Overview from MoneyMinder, a Reconciliation Report, and an Accounts Receivable report. There are a flock of reports available in MoneyMinder showing the various facets of our financial condition and they, including the aforementioned, may be viewed by any member who desires to see them. It is your right. The four reports noted above are published to this web site each month and can be found in the sidebar under the title “Financial Reports“. If you click on this link, you will be presented with a dialogue box asking for a passcode. The reason that this information is passcode protected is that we don’t want it to provide unfair advantage to contractors who may bid to sell us services.

If you would like to see these reports, and more, you just have to text “passcode” to my number and I will reply with the current passcode. The passcode will work for 24 hours and then expire and be replaced with a new one. If there is something specific you would like to see regarding our finances (invoices, income and expense information, deposit slips, etc.), please contact me….mm