We are one of the few firms that works regularly with condominium and homeowner associations to manage accounting and taxation. Compliance is critical to the viability of condominium associations, and the financial reporting requirements are rigorous. Walker Ostrowski Williams’s professionals know the State of Florida Statutes 718, 719, 720, and 721, as well as the many intricacies of working within these guidelines. In addition, we recognize when a condominium association is liable for reports in excess of the statutes – a situation of which the condominium associations themselves are frequently unaware.
This is where the value of a CPA firm with experience in this area comes into play. We have the expertise to point out these requirements to help ensure that your association is in compliance on all levels.
We also assist condominium and homeowner associations with taxation issues and tax planning, accounting services from monthly bookkeeping and payroll assistance to setting up a computerized accounting system, as well as annual budget preparation and calculations of reserves and deferred maintenance as required by Florida Statutes.
Walker Ostrowski Williams is well versed in the even more stringent regulations that govern timeshare associations and has extensive experience in working with homeowner associations. We have the expertise to address all financial issues that face condominium and homeowner associations, particularly in South Florida. Some of our specific areas of expertise include:
• Condominium and Homeowner Association Audit, Review & Complied Financial Statement Preparation.
• Condominium and Homeowner Association Budgetary, Replacement Reserve and Reporting Assistance.
• Assessment of accounting procedures and controls.
• Tax Advisory and Preparation Services for Condominium and Homeowner Associations.
• Computerized Accounting System Implementation and Support for Associations.
The Firm’s managing partner in this area, Scott Williams, has served as a director on the Broward Chapter of the Community Associations Institute (CAI). CAI is a national organization made up of Association activists and related professionals that promote the interests of community living. Additionally, Scott has served as Treasurer of the Florida Legislative Alliance for several years. The Alliance is a group of Association activists throughout the State of Florida who meet on a regular basis to introduce, review and influence legislation that affects community living and its often complicated rules and regulations. Scott has had articles published in Condo Management and Executive Management magazines and has also served for many years and positions on his own condominium board of directors in Hillsboro Beach. This assures that you are not only dealing with a firm that knows professional standards, but someone who is familiar with intricacies of day to day activities of Associations.