ACM Community Management presented a seminar on Accounting Tools: Understanding Financial Statements and How to Navigate the Property Tax Appeals Process. This seminar featured Accountant Steve Silberman from Marcum LLP and Tax Attorneys, Joanne and Michael Elliott from Elliott and Associates.
The first half of the seminar covered Financial Statements. How to read your financial statements, the types of funds you might encounter as well as the importance of monitoring your actual financials vs. budgeted figures.
The second half of the seminar covered Tax Appeals. We learned the authority Boards have to seek a tax appeal, how to go through the appeal process, whether to budget for the appeal or bill back the homeowner and where you can expect to see your tax savings.
This seminar provided the tools Boards need to better understand their Association’s financial affairs and property values.
ACM Community Management hosts quarterly Board Member Education Seminars on different topics relevant to the current industry happenings. For more information on Board Member Education please visit our Education page.