Turnberry Residential Management

Turnberry is a leading property expert capable of providing facilities management as part of a fully integrated services package to optimize the value in workplace management. Our services include:

Design of facilities management services and standards tailored to needs of the business
Advice in preparation of Declarations, Rules, Building Management Statements, CCR’s
On-site senior management to optimize business performance
Titling, subdivision and management structure recommendations
Operations support: pre-opening and ongoing
Supervision of staff and sub-contractors
Job bids and specifications
Architectural and rules enforcement
Communication with residents/tenants
Attendance at Board Meetings
Experienced recommendations
Implementation of CCR’s and of Board policy
Compliance with legal and statute observance
Property inspections
Insurance valuations advice
Emergency on-call manager services

Full Service Management Plan

In addition to the Turnberry Site/General Manager who will be assigned on site full time at property, our clients can take comfort in knowing that a professional team of experts will be familiar with and engaged in the management of the project. The primary point-of-contact for the Board of Directors will be the Site/General Manager. The Site/General Manager is supported by a Vice President/Group Leader, who is a tenured Community Association Management Executive with considerable experience in all aspects of facilities management and site operations.

Supporting this team is the Accounting Department with specialists in Investment Management, Payroll Administration, Direct Debit, Accounts Payable, Accounts Receivable and General Ledger. Our Human Resources Department is extensively involved with the recruitment and retention of key employees and members of site staff.

The Site/General Manager

The Site/General Manager is charged with the responsibility of ensuring that the physical and financial operations of the community meet and ideally, exceed the standards of the marketplace. Specific responsibilities of the Site/General Manager include:

Supervision of site staff and service contractors
Regular property inspections, preparation of reports as required by the Board
Approve all payments on behalf of the property
Prepare and present monthly management and financial reports
Attend Board of Directors meetings
Coordinate and attend the Annual Meeting of Owners
Communicate frequently with Board of Directors’ liaison
Develop specifications for service contracts and bid those contracts
Analyze contracts proposals and make recommendations to the Board of Directors
Implement and supervise contracts
Purchase equipment and supplies in accordance with the budget
Administer community covenants and rule enforcement procedures
Maintain resident database/owner files
Ensure compliance with local and national codes; warrant timely filings
Direct all aspects of management and maintenance protocols
Oversight and administration of utilities and energy sources
File insurance claims and supervise restoration of property as appropriate

Senior Staff/Management Team Involvement

While the Site/General Manager will be the most visible Turnberry representative, be assured that an entire team of specialists with be working for the benefit of our clients. In all management functions the Management Team is supported by a Group Leader. To ensure that the community continues to receive quality management services and responsive governance, the Group Leader will meet periodically with the Board of Directors. Other Senior Staff Members are always available to support and assist the Site/General Manager, to attend Annual Meetings and consult with the Board of Directors as required.

Financial Management

A key ingredient to successful facilities operations is sound financial management. We take pride in our ability to keep our clients aware of their communities’ financial condition, and to offer comprehensive monthly financial advice and support to them. Turnberry has a task-based accounting and finance department let by four Certified Public Accountants.

Turnberry’s automated financial system is powered by an IBM RISC 6000 Powerserver, with 4 GB RAM Memory and six disk drives containing 10.4 GB. The ACCESS software is written in PROGRESS, a fourth generation language and Relational Database Management System, which is supported one of the premier community management software developers. Our system is backed-up daily and back-ups are stored off-site. Internal controls are installed on the system to insure security of information. We have an eight-hour Interruptible Power Supply (IPS) that protects the mainframe memory. During transition, all of our files are in ASCI format, which are easily duplicated and recreated.

Turnberry’s financial and accounting program provides a comprehensive system of support services and timely reporting to keep the client informed of all financial activities of the community and assure sound fiscal management of the property. Elements of this system are described briefly below.

Collecting Assessments

Turnberry offers Unit Owners the ability to pay their monthly Association fee automatically through electronic funds transfer (EFT). The Unit Owners’ bank account would be automatically charged on the first of fifth day of the month (determined by the Board), and the Association receives the payment the same day. Turnberry also uses lock-box collections that ensure accuracy and minimize the transit time for deposits. Fee payment coupons with return envelopes facilitate monthly payments by Unit Owners. Payments are sent directly to the lock box where they are processed and then deposited immediately in the Association’s individual interest-earning bank account. A unique feature of our lock box program is our ability to restrict acceptance of payments from owners who are seriously delinquent or who have been turned over to the Association’s attorney. An automatic control feature in the system scans every coupon’s accompanying payment to determine its status, including rejection. If rejected, the payment is returned to Turnberry for hand processing. This feature prevents delinquent Unit Owners from “slipping” a payment through the system and upsetting legal proceedings. Turnberry also accepts payments initiated through internet bill payer services, and has the capability to accept credit card payments.

Handling Delinquencies

Turnberry operates an ongoing and highly effective delinquency program that is tailored to meet an Association’s governing documents and adopted rules. We make recommendations for implementing a delinquency policy, if one does not exist. Our standard program includes the following features:

A delinquency notice with a late charge, if permitted, is sent to each delinquent owner.
If a payment is not received in the stipulated time, a second delinquency notice is sent.
Depending on the policy of the Association, records are then turned over to the attorney. Collection action becomes a legal matter of acceleration of fees, lien filing, judgments against the Unit, or other legal remedy.

Disbursing Funds

Turnberry funds disbursement program provides timely and accurate payment of valid invoices, while maximizing discounts earned by the Association. Prompt payment of obligations ensures good credit and competitive pricing for goods and services. Our disbursement program includes the following features:

The Site/General Manager approves all disbursements and assigns account codes.
All approved invoices submitted by the close of business Friday are disbursed at the end of the following week, subject to approval for release by your Site/General Manager.
A schedule of all bills paid, with check numbers and date of payment, is included in the monthly financial package.
riginal invoices are returned to the Association’s Board of Directors each month for review and verification.

Preparing the Monthly Financial Narrative Report

Timely and accurate financial information prior to meetings is vital in order for the Board of Directors to make sound financial decisions and fulfill its fiduciary responsibility. Your Site/General Manager will provide a Monthly Financial Narrative Report to the Board of Directors at least four days prior to the monthly Board meeting. The report updates the Board of the Association’s financial condition, both for the current month and year-to-date. It summarizes activities in all cash accounts, investments, income and disbursements and reserves. Detailed explanations on budget variances also are provided. Additionally, the report includes updates on Unit Owner delinquencies.

Preparing Financial Statements

Turnberry present Board of Directors with a number of monthly financial reports. Report formats and chart of accounts will be adapted to meet an Association’s unique requirements. Several of these reports are highlighted below.

Balance Sheet – Outlines assets, liabilities and equity in easily read, standard accrual accounting format. Supplementary schedules to the balance sheet are provided as appropriate, showing details of investment and equity accounts.
General Ledger Investments Report – Identifies each investment by financial institution, maturity date and, if applicable, interest rate and current balance.
Accrued Expenses – Lists the accruals for major expenses that have occurred, but have not yet been paid. These include payroll, all utilities and regular service contracts.
Comparative Income Statement – Provides a point comparison between actual monthly income and expenses to amounts budgeted for that month and the status of year-to-date income and expenses compared to the budget.
General Ledger Disbursements – Lists every disbursement made for the month including payee, account number charged, payment amount and check number.
General Ledger – Shows each transaction in each account for the month. A cumulative General Ledger is prepared at year-end for the Association’s Auditor’s use.
Receipts Statement – A detailed listing of all cash received during the month, including miscellaneous cash receipts and account credited.
Monthly Spread Report – Displays actual expenses year-to-date and budgeted expenses for the balance of the fiscal year, giving the Board of Directors the tools necessary to make sound decisions on a monthly basis. Your Site/General Manager and accounting personnel review a preliminary General Ledger each month before

Preparing the Payroll

Turnberry performs all payroll activities in-house. Our payroll specialists prepare forms, reports and returns as required by Federal and State laws in connection with unemployment insurance, workers’ compensation insurance, disability benefits and Social Security. Our computerized employee payroll system accurately tracks individual employees’ vacation and sick leave, based upon the Association’s rate of accrual.

Preparing and Maintaining the Budget

The budget establishes the financial lifeline of the Community and is therefore one of the most important activities Turnberry and the Board of Directors works on together. The ultimate goal of a budget is to ensure a financially healthy and stable community, while providing specific guidelines and objectives for the Board and Management to follow. Your Site/General Manager gathers all pertinent information from a variety of sources, including on-site personnel, Board members and Committees and our Accounting Department. He/she can therefore take a global approach to the budget and develop a financial plan to best serve the Association. The budget focuses on both short-term and long-term finances. The short-term budget is the one-year financial plan and includes the operating budget and capital expenditures planned for the year. Long-term planning is accomplished through the development of a comprehensive and accurate replacement reserve schedule, which summarizes your anticipated major capital expenditures over an extended period of time. This is based on the replacement reserve study performed by the Association’s retained engineer.