Budgeting Basics, Financial Controls and Legislative ... and a PCAM designation. The PCAM...
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Budgeting Basics, Financial Controls and Legislative Requirements Saturday, September 10, 2016 Registration & Breakfast: 8:30 a.m. Program: 9 a.m. - Noon Sheraton Hotel – 100-112 th Ave NE, Bellevue, WA 98004 Budgeting is one of the primary responsibilities of boards of directors and management companies. Without a proper budget, financial statements are less meaningful. Without proper financial controls, the board, manager, and ownership can be at risk. We will discuss legal requirements, preparation of the budget, and ten pitfalls to avoid. You will also learn about: • Accounting methods, budgeting models and requirements. • Budget components, steps to developing an accurate operating budget. • How to incorporate the reserve study into the budgeting process. • Looking at cash flow and retained earnings to measure the financial health of the association. • Approval process and disclosure requirements. • Steps for meaningful financial controls, and the basics of audits and the auditing process. This budget class is in its 14th year, and is one of CAI’s most popular classes. Be ready for an interactive session, with plenty of opportunity to ask questions and discuss budgeting and financial issues facing your community. Presented by: Catherine Kuhn, CPA, manages the Bellevue office of Cagianut & Company, CPA, which is devoted exclusively to serving the financial needs of over 750 Community Associations in Washington. C&C has over 25 years of experience in serving Community Associations and currently has 18 employees. Prior to joining Cagianut & Company in 2006, Cathy was a partner in a large Bellevue CPA firm and served clients in various industries there for 20 years. Cathy teaches classes and writes articles for WSCAI. In addition to being “Mom” to 2 active teenagers, she serves as Treasurer of the Newport High School Girls Basketball Booster Club, and a financial volunteer for Bellevue Young Life. Kevin Ducotey, PCAM, Condominium Management, AAMC. Kevin is the Director of Condominium Management, an Accredited Association Management Company serving Community Associations in the Puget Sound area. Kevin maintains a Bachelor’s in BA – Finance and a PCAM designation. The PCAM designation is the highest professional recognition available nationwide to managers who specialize in community association management. Sponsored by: HUB International NW, ServPro of Seattle NW & The Copeland Group, LLC, AAMC _________________________________________________________________________________________ BUDGETING IN BELLEVUE – 9.10.16 WSCAI Members - $35 by 8.26; $45 thru 9.2; $55 after 9.2 Non-Members - $75 by 8.26; $85 thru 9.2; $95 after 9.2 Name: __________________________________________________ Name: __________________________________________________________ Association/Firm: _________________________________________________________________________________________________________ Address: ___________________________________ City/State/Zip: ____________________________________________________ Phone _____________________________________ Email: ___________________________________________________________ Enclosed is a check for $ ________________or charge the amount to my qVisa qMasterCard qAmEx Card #: ______________________________________Exp. Date: ___________ Signature: _______________________________________________ Credit Card billing address if different than above: ________________________________________________________________ Mail Registration Form & Payment To: WSCAI – 19101 36 th Ave W, Ste 205 Lynnwood, WA 98036 Credit Card Payment To: Fax: (206) 770-6123. For More Information: (425) 778-6378 or [email protected] Telephone reservations will be considered confirmed registrations and will be billed in the event of a no show. Cancellations received after September 2nd will not be refunded, substitutions are welcome. q Do NOT provide my contact information to the sponsors of this event. q Check here if you would like a certificate of attendance for this seminar.
Transcript of Budgeting Basics, Financial Controls and Legislative ... and a PCAM designation. The PCAM...
BudgetingBasics,FinancialControlsandLegislativeRequirementsSaturday,September10,2016
Registration&Breakfast:8:30a.m.Program:9a.m.-Noon
SheratonHotel–100-112thAveNE,Bellevue,WA98004Budgetingisoneoftheprimaryresponsibilitiesofboardsofdirectorsandmanagementcompanies.Withoutaproper budget, financial statements are less meaningful. Without proper financial controls, the board,manager,andownershipcanbeatrisk.Wewilldiscusslegalrequirements,preparationofthebudget,andtenpitfallstoavoid.
Youwillalsolearnabout:• Accountingmethods,budgetingmodelsandrequirements.• Budgetcomponents,stepstodevelopinganaccurateoperatingbudget.• Howtoincorporatethereservestudyintothebudgetingprocess.• Lookingatcashflowandretainedearningstomeasurethefinancialhealthoftheassociation.• Approvalprocessanddisclosurerequirements.• Stepsformeaningfulfinancialcontrols,andthebasicsofauditsandtheauditingprocess.
Thisbudgetclassisinits14thyear,andisoneofCAI’smostpopularclasses.Bereadyforaninteractivesession,withplentyofopportunitytoaskquestionsanddiscussbudgetingandfinancialissuesfacingyourcommunity.Presentedby:CatherineKuhn,CPA,managestheBellevueofficeofCagianut&Company,CPA,whichisdevotedexclusivelytoservingthefinancialneedsofover750CommunityAssociationsinWashington.C&Chasover25yearsofexperienceinservingCommunityAssociationsandcurrentlyhas18employees.PriortojoiningCagianut&Companyin2006,CathywasapartnerinalargeBellevueCPAfirmandservedclientsinvariousindustriestherefor20years.CathyteachesclassesandwritesarticlesforWSCAI.Inadditiontobeing“Mom”to2activeteenagers,sheservesasTreasureroftheNewportHighSchoolGirlsBasketballBoosterClub,andafinancialvolunteerforBellevueYoungLife.
Kevin Ducotey, PCAM, CondominiumManagement, AAMC. Kevin is the Director of Condominium Management, an AccreditedAssociationManagementCompanyservingCommunityAssociationsinthePugetSoundarea.KevinmaintainsaBachelor’s inBA–FinanceandaPCAMdesignation.ThePCAMdesignation isthehighestprofessionalrecognitionavailablenationwidetomanagerswhospecializeincommunityassociationmanagement.
Sponsoredby:HUBInternationalNW,ServProofSeattleNW&TheCopelandGroup,LLC,AAMC_________________________________________________________________________________________
BUDGETINGINBELLEVUE–9.10.16WSCAIMembers-$35by8.26;$45thru9.2;$55after9.2Non-Members-$75by8.26;$85thru9.2;$95after9.2
Name:__________________________________________________Name:__________________________________________________________
Association/Firm:_________________________________________________________________________________________________________
Address: ___________________________________City/State/Zip: ____________________________________________________Phone _____________________________________Email:___________________________________________________________ Enclosedisacheckfor$________________orchargetheamounttomy qVisa qMasterCardqAmExCard#:______________________________________Exp.Date:___________Signature:_______________________________________________
CreditCardbillingaddressifdifferentthanabove:________________________________________________________________MailRegistrationForm&PaymentTo:WSCAI–1910136thAveW,Ste205Lynnwood,WA98036CreditCardPaymentTo:Fax:(206)770-6123.ForMoreInformation:(425)778-6378orinfo@wscai.orgTelephonereservationswillbeconsideredconfirmedregistrationsandwillbebilledintheeventofanoshow.CancellationsreceivedafterSeptember2ndwillnotberefunded,substitutionsarewelcome. q DoNOTprovidemycontactinformationtothesponsorsofthisevent. qCheckhereifyouwouldlikeacertificateofattendanceforthisseminar.
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