The Finance Committee provides advice and assistance to the ISHOA Treasurer and Board of Directors in fulfilling their fiduciary responsibilities for all financial matters.
The committee oversees the budget process, financial audits, reserve study, investment management, financial policies and monitors the financial health of the ISHOA, in conjunction with the ISHOA Treasurer.
The committee meets monthly in the clubhouse.
Financial Documents Available to Homeowners
All of the ISHOA financial documents are available for homeowners to view or download from the VIS website.
Log in to the VIS website with your username and password to gain access to ISHOA financial documents such as:
- tax returns
- audits
- monthly reports
- budgets
- contracts
- agreements
- reserve study summaries
- reserve study details
Association Reserve Studies Explained
A reserve study is a long-term financial planning tool used by an HOA to assess the condition of common area assets and determine how much money to save for future repairs and replacements.
It helps associations budget effectively for major repairs and replacements, ensuring sufficient funds are available when needed.
A reserve study has two parts:
- The Physical Analysis is an evaluation of the physical state and repair or replacement costs of common area components that an HOA is obligated to maintain.
- The Financial Analysis is an evaluation of the HOA’s income, expenses, and reserve balance.
The Physical Analysis and Financial Analysis help predict the projected reserve income and expenses.
Using these analyses, the board can strategically plan for future expenses and incorporate any special assessments and budgeting.
Roselyn Marcus
(360) 561-7451
Click the icon to Send an Email
For more information, please contact the Committee Chair
-
Roselyn Marcus
- Click the icon to Send an Email