Homeowner’s Associations

At Schwindt & Company, we have a team of professionals dedicated purely to serving the changing needs of today’s homeowner’s associations. Our staff is experienced in working with an HOA’s tax, accounting, and reserve study needs. We’ll help with everything from complex tax preparation to maintaining compliance with local and federal regulations.

Whether you are just looking for a properly compiled financial statement or for a complete external audit, we provide a wide array of services and tools to help associations take control of their financial situation. Far from simply checking the numbers, we are ready to answer any questions you may have about your association’s unique fiscal position.

Services for Homeowner’s Associations

Financial Statements

In an audit, a CPA will investigate financial information and determine if he or she believes the amounts reported in a financial statement are materially correct. The CPA will also analyze the system of internal controls in the accounting system and any weaknesses discovered will be communicated to the board of directors.

An audit will help your association by assuring the credibility of financial statements to all stakeholders, by decreasing future financial errors, and by assisting in correct tax payments. Audits go beyond reviews and compilations to provide the most in-depth analysis of your finances. Schwindt & Company’s financial team upholds the highest auditing standards and is ready to serve your association.

A review includes, but is not limited to, vouching balance sheet amounts to supporting documentation and comparing current year income and expense amounts to the prior year and budgeted amounts. In accordance with generally accepted auditing standards, the assurance provided by a review is far less than the assurance an audit provides. If the CPA becomes aware of a peculiarity as a result of a review, additional procedures will be necessary.

If the expense and depth of an audit does not seem like a good choice for your association at this time, Schwindt & Company can offer you the assurance and skill of a CPA’s review.

When a CPA compiles financial statements for a client, the CPA presents information obtained from the client in the form of financial statements in accordance with generally accepted accounting principles. The CPA does not audit or review the information and thus places no assurance on the statements.

However, if in the course of this preparation, the CPA notices anything peculiar about the information, the CPA is required to investigate to satisfy himself/herself that the information would not be misleading to a user.

A preparation engagement, which is neither an attest engagement nor an assurance engagement, consists of the CPA preparing financial statements for a client in accordance with a specified financial reporting framework using the client’s accounting records, documents, explanations, and other information.

The role of the accountant in a preparation engagement is essential to apply the accountant’s knowledge of the applicable financial reporting framework to the client’s financial data and presenting it in the form of a properly structured set of financial statements.

Professional standards do not require the accountant to make inquiries or perform other procedures to verify, corroborate, or review the information supplied by the entity. For this reason, the accountant neither obtains nor offers any form of assurance on the content of the financial statements.

Tax Research & Returns

Preparing a tax return can be overwhelming for those with complex tax situations, and providing correct information is crucial to an association’s financial health. With Schwindt & Company’s tax return and tax research services, you can be sure your tax obligations are fulfilled with the most accurate information. We can help you understand and be aware of changing state regulations and produce a tax return with minimum risk.

Tax research can be helpful when you are faced with a tax problem or when your association needs to maximize its tax savings without an apparent solution. Our CPAs have the skill, tools, and software to find answers for your unique tax situation.

Reserve Studies & Maintenance Plans

Nothing is more important to the financial well-being of your organization than a complete reserve study and maintenance plan. To avoid unexpected costs, it is vital that these are prepared by properly qualified professionals. Our reserve study team currently works with over 250 homeowner’s associations in the Pacific Northwest, providing on-site and off-site services.

While many firms will simply hand over your completed reserve study, our team will work with your board of directors to ensure they understand and feel comfortable with this vital budgeting tool.

Learn more about our Services for Homeowner’s Associations

More assistance with finances for homeowner’s associations can be found in our Resources and we have a series of Articles covering issues specific to homeowner’s associations. When you are ready to start the conversation with our HOA professionals, Request a Quote, Contact Us or call (503) 227-1165.