How Safe are Your Association Funds with CMG?
Community Management Group, LLC (CMG) is a Charleston-based, Professional Homeowners Association Management Company. CMG has a team of 45 local, trained and insured professionals, offering general repair & maintenance services, horticultural consulting, collections administration, and Association accounting. Managers are qualified, certified, designated (CMCA, AMS, etc.), and members of the Community Associations Institute. Administrative staff members are continually trained in customer service, and a number of other important peripheral areas.
We are a BBB A+ Rated, multi-award-winning company, earning When Work Works awards for family values and flexibility best practices 8 years running. In addition to the recognition of earning an award by Families and Work Institute (FWI), Community Management Group, LLC is committed keeping your Association funds safe. We are members of the Association of Certified Fraud Examiners and the owner is currently qualified for CFE credentialing. In addition, four team members are Sarbanes-Oxley Trained Professionals. SOTP designees demonstrate a solid understanding of the Sarbanes-Oxley Act, created to address the unethical financial maneuvers of companies like Enron or Worldcom. This training and credentialing is another of the many ways CMG distinguishes itself from other management companies by providing the highest level of fraud prevention and control for our Association clients.
Community Management Group, LLC is a completely separate financial and business entity from the Associations it manages. CMG corporate payroll and accounting are handled with separate staff, processes and accounting software, utilizing a different bank. Uniquely to CMG, no Association funds are commingled with CMG in any process or at any point in time. Additionally, our company carries insurance for Employee Dishonesty/Fidelity Bond/Crime, Liability and Errors & Omissions.
All Association member payments are received through direct postal lockbox at the Association’s bank. Association leaders (Boards of Directors) have complete, real-time online access to the Association’s accounting system and all Association records. In addition to oversight, our unique accounting best practices ensure the reliability and integrity of Association accounting. Examples include: CPA-advised Internal Controls require four individuals to write a check; Association check stock is secured. After monthly account reconciliation and cross-checks, Boards are availed monthly of reports complete GL details, original invoices and bank statements, paper and digital records. Many Boards have CPA oversight, Reviews, Compilations and Audits completed annually.
In sum, each Homeowners Association is a completely separate financial and business entity from CMG. Best Practices and endorsed Internal Controls are employed and verified. No Association in the care of Community Management Group, LLC has ever experienced loss from fraud, nor will anyone.