Utah property management accounting and financial services

At FirstService Residential, supporting the financial health of Utah community associations is one of our highest priorities. Drawing on decades of experience managing the financial affairs of communities across Utah, including Salt Lake City, Park City, St. George, SunRiver, Provo, Alpine, and beyond, we help boards make informed financial decisions with confidence.

Our financial and accounting professionals provide comprehensive services tailored to the unique needs of each association. From helping communities plan for capital improvements and navigate changing market conditions to maintaining clear financial reporting, we provide the tools, expertise, and support boards need to manage their responsibilities effectively.

Our structured system of checks and balances helps maintain accuracy, transparency, and accountability across all financial transactions.
 

Trusted, hands-on Utah HOA accounting and financial services

• Comprehensive financial packages delivered in a timely manner and available for board meetings
   
• Association financial information accessible to authorized users 24/7 through a secure, password-protected platform
   
• Multiple payment options designed to support collections and improve cash flow
   
• CPA access available as needed, helping reduce auditing-related expenses
   
• A dedicated accountant available to board members and treasurers for questions and periodic financial reviews
   
• An in-house Resale Department that helps streamline the transfer process when homes are sold
   
• The strength and accountability that come with being part of FirstService Corporation, a publicly traded company (NASDAQ: FSV; TSX: FSV) committed to transparency and financial oversight

Financial reporting

Timely, accurate reporting helps boards stay informed and manage their association's finances effectively. Our accounting professionals support your community by:

• Preparing balance sheets and income and expense statements
   
• Managing accounts payable and receivable, general ledger activity, deposits, and check history
   
• Delivering a comprehensive monthly financial report that includes current month, year-to-date, and budget comparison data

Budget preparation

Developing a community association budget requires balancing ongoing operational needs, reserve planning, and community goals. Our financial team assists boards by preparing draft budgets for review, incorporating anticipated service-related expense changes and providing detailed historical financial data to support the budgeting process.

This includes:

• Draft annual budget preparation
   
• Review of historical expenses and trends
   
• Analysis of current operating costs
   
• Support for long-term financial planning discussions

Annual audit and tax preparation

Our financial and accounting professionals prepare the documentation needed for annual third-party CPA audits and tax preparation. We also provide board-hired attorneys and CPAs with access to HODA® and FirstService Residential Connect™, allowing them to review invoices, reports, files, collections information, and other financial documents online.

This streamlined access can help reduce preparation time and improve efficiency during audit and tax review processes.
 

Association accounting services

Our Utah association accounting services are designed to simplify financial management while providing boards with visibility into their community's financial performance.

Services include:

• Monthly financial statement packages, available online
   
• Preparation of balance sheets, income statements, bank reconciliations, and supporting schedules
   
• Processing of payments through a licensed and insured lockbox facility
   
• Flexible banking options and fidelity bonds
   
• Multiple payment methods, including check, ACH/direct debit, credit card, and e-check
   
• Electronic scanning of vendor invoices and computerized check preparation
   
• Online check review and approval capabilities for board members
   
• Annual budget preparation and processing
   
• Year-end financial packages available online for independent auditors
   
• CPA-supervised dedicated accounting team
   
• Turnkey collections services

At FirstService Residential Utah, we provide community associations with the financial expertise, technology, and support needed to navigate today's challenges and plan for tomorrow's opportunities. Through detailed financial reporting, budget support, advanced technology, and responsive service, we help boards make informed decisions and maintain a clear understanding of their community's financial position.

Communities throughout Salt Lake City, Park City, Draper, Sandy, South Jordan, Riverton, Herriman, Lehi, Ogden, Provo, and St. George rely on our team for the financial guidance and operational support that help keep their associations running smoothly.

Contact us today to learn more about how FirstService Residential Utah's financial and accounting services can support your community association.