Community Association Financial
6088 Sunol Blvd. Suite 100, Pleasanton, CA 94566. Tel: (925) 417-7100 Fax: (925) 426-7717


COMMUNITY ASSOCIATION FINANCIAL has been involved in financial services for 20 years providing services for over 80 Community Associations. These Associations cover the entire Bay Area, vary in size from 10 to 1300 units, including single-family homes, condominiums and planned unit developments. We are very proud of our 100% retention rate emphasizing the highest level of service in a very challenging industry. We rely on a very long-term and successful relationship with each and every Community Association.

A member in good standing of California Association of Community Managers (CACM), and Executive Council of Home Owners (ECHO), our staff keeps abreast of the industry's latest developments by participating in ongoing educational seminars throughout the year.


OPERATIONAL MANAGER: Edward Etemad, with over 20 years of experience, serves as the President and Chief Executive Officer of Community Association Financial. He holds credentials including a Ph.D. in Engineering, Master's Degree in Management, also holds a current California Real Estate Brokerage license and a California Association of Community Managers (CACM) certification.

FINANCIAL CONTROLLER: Hermien Etemad, holds a Master's Degree in Accounting and Management, and has 24 years experience in this field. She provides monthly financial statements and budget reports. Other tasks include annual budget research and preparation, investment processing and associated banking operations, coordination of year-end tax preparation and review and tracking reserve income and expenditures. Ms. Etemad works closely with Board members or Associations Managers. In addition, she oversees all accounts receivable and accounts payable functions.

OPERATIONS MANAGER: Kimberly Valentino, with over 16 years of experience, provides assistance and guidance to the Financial Team as well as serving as an Association Manager for several properties. Ms. Valentino has a history of setting and achieving Board of Director objectives, as well as developing successful vendor programs, property management services and strategies in order to affect immediate and long-term success. She has been highly successful at the art of recruiting, building, and leading management teams with an aggressive drive for results. She brings to Community Association Financial broad industry experience with special expertise in: process improvement, contract management, collection management, property management, RFP process management, and budget preparation.

FINANCIAL MANAGER: Lin Sun, holds a BS degree in accounting. She began her accounting career in property management 10 years ago. Over the years, she has accumulated rich experience in multiple accounting areas. She provides monthly, quarterly, and annual financial reporting as well as preparing budgets and conducting financial analysis projects.

ACCOUNTS PAYABLE MANAGER: Mr. Joginder Singh holds BA degree in Economics and Political Science and an AA in Accounting. He is responsible for Accounts Payable and the preparation of Financial Reports. He provides all Accounts Payable services including processing all invoices and printing all checks. He communicates with vendors and contractors. He also reconciles bank accounts and prepares financial statements.

STAFF ACCOUNTANT: Alvin Abraham, our newest member to the team, holds a Bachelor of Science degree in Accounting from Cal State Hayward. Mr. Abraham is responsible for accounts payable, the preparation of financial reports and oversees the collection department for assessments due and payable with interfacing between the manager of the Association, the Board of Directors and the collection company.

ACCOUNTS RECEIVABLE REPRESENTATIVE: Georgeann Megoloff interacts with the Owners and prospective buyers. Her duties include monthly billing, receipt of cash, bank deposits accounts receivable payment posting, customer service inquires, collection notices, preparation of lien, delinquent assessment coordination with attorneys and account receivable aging analysis.

OFFICE SUPPORT STAFF: Mary Clemmer holds a Bachelor of Science degree in Computer Information Systems and a Certificate in Computer Graphics. Ms. Clemmer came to us with an extensive background in administration. She oversees the daily office operations including administrative and supervises CAF's various office support staff including reception, mailroom and copy services.

ESCROW COORDINATOR: Ms. Melissa Capas prepares HOA certificates, providing legal disclosures to prospective buyers and coordination with title companies.

Each Community Association is unique with a variety of special needs. By focusing on your financial management needs, Community Association Financial (CAF) is able to ensure that this aspect of your Association´s operations is given the full attention and customized service that it deserves. Our staff consists of highly qualified individuals in financial management services that have superior knowledge of their areas of expertise. We are dedicated to the service of Homeowner Associations, and will enhance and improve the financial management and success of the Associations we serve.

Our financial management system, TOPS 2000, is the most sophisticated and advanced specialized financial software available and is targeted to the specific needs of Homeowners Associations. It is continually updated to conform to all applicable laws and regulations. Our complete financial accounting system controls all aspects of receivables and payables, on a cash or accrual basis as directed by the board of directors, and maintains all financial and non-financial data. It produces a wide assortment of reports from monthly Income Statements and Balance Sheets to the tracking of Receivables and Payables. Furthermore, each property may be given its own unique chart of accounts and format for financial reports.


  • Assessments Billing
  • Special Assessments
  • Monthly Owner Statements
  • Accessibility of Owner account data through a secure, password protected website
  • Direct Deposit or Remittance Banking
  • Delinquency Control & Collection
  • Legal Action for Delinquent Payments
  • Unit Owner Records
  • Unit Tenant Records
  • Title Transfer & Demands
  • Accounts Payable
  • Preparing Operating Budgets
  • Investment of Funds for Maximum Yield
  • Reconciliation of All Banking & Investment Accounts
  • Financial Reports
  • Tax Planning
  • Annual Reserve Study Update
  • Annual Meeting Packages
  • Monthly Board Packages
  • Payroll Service
  • Newsletter Inserts
  • Meetings with the Association Board as Needed
  • Compliance with All Pertinent Civil Code Requirements

Collection of assessments is one of the most important day-to-day activities faced by your Association.  Without accurate billing statements and prompt processing and enforcement of the collection policy, your Association´s financial activities could be seriously jeopardized.  At Community Association Financial (CAF), we have designed our system to meet these goals.
· Monthly Billing Statements - Each member receives a monthly billing statement with a pre-addressed return envelope to the Association´s bank. Statements are mailed no later than the 25th of the month prior to the due date of the Association. Each statement shows various transaction descriptions from regular monthly dues to late fees, fines and violation charges. Each statement provides space for important Association messages and a phone number to handle account inquiries by our trained personnel in Association assessment and delinquency procedures.
· Processing - We use a bank deposit lockbox for faster and more efficient collection of payments. Each payment received is reviewed for accuracy, and irregular payments are directed to the management office for review. All payments are processed and deposited the same day. In addition, any notes received with the payment will be forwarded to the management office.
· Delinquency Control - Unfortunately, delinquent assessments can be a common problem for Homeowner Associations. CAF provides collection procedures that comply with the Association´s delinquency policy and current state laws. Monthly notices are sent to all delinquent accounts outlining all charges due, including late fees, interest and collection charges.
· Accounts receivable activity report - The accounts receivable activity report displays each unit, the amounts that were charged in the month, and the amounts that were collected. It shows any adjustments that were made to the accounts and the ending balance.
· Delinquency report - The delinquency report displays each account that is currently delinquent, shows the date of last payment, collection status, and the specific amounts and categories of charges that are owed.
· Prepaid assessment report - The prepaid assessment report lists those accounts that have had assessments paid in advance.
It is very important to make payments for services rendered in a timely fashion. This will avoid any possible late penalties assessed to the Association´s account and avoid any interruption of services. The following procedures are implemented by CAF for processing the Association´s accounts payable:
· All invoices are to be verified by the board or designated manager and checked against previous payments to avoid possible double payment.
· Complete laser MICR check system prints checks for multiple bank accounts using blank check stock in place of pre-printed checks.
· Checks are mailed with documentation to the appropriate Association officers for signatures twice monthly, or as needed, with a prepaid addressed envelope.
· Vendor files record maintained for prompt identification and proper assignment of check disbursement for payment of services rendered.
· Check register report displays all checks written for the month with general ledger coding, invoice numbers and reference information.
· A/P distribution report displays all invoices paid delineated by G/L account.

At CAF, we provide you with financial statements that are very comprehensive, clear and easy to understand, thereby allowing the Board of Directors to confidently make financial decisions. Our accounting software allows us to generate customized financial reports for each Association. Our comprehensive chart of accounts, based upon the Department of Real Estate´s budget guideline, offers many major expense and income categories with each containing many sub-categories. The financial statements will be submitted to the Board of Directors or Management Company prior to the regularly scheduled monthly board meetings.
· Balance Sheet - The balance sheet is designed to allow an overall review of the Association´s financial position. It defines all assets, liabilities, reserve and operating fund balances. If desired we can separate the operating, reserve and any other funds into three columns with a fourth column showing the total of all funds.
· Income Statement with Budget Analysis - The income statement displays the month as well as year-to-date income and expenses on a cash or accrual basis. It also displays monthly, year-to-date and actual budget amounts and calculates variance. This and other forms of the income statement can be prepared separately for each fund if desired.
· Income Statement with Prior Periods - The income statement displays current month actuals alongside actuals of the same month last year, calculating variance. It then shows year-to-date actuals alongside year-to-date actuals for the prior year and displays the annual budget. This report provides a good sense of how the Association is doing financially compared to essential benchmarks.
· Profit & Loss Spread Analysis - This is the same as the income statement except that it shows income and expenses for prior months as well as the current month.
· Annual Operating Budget - According to civil code (1365.(a)4), the budget must be mailed to members not less than 30 days and no more than 90 days prior to the beginning of the current fiscal year. It is prepared using actual amounts for the first eight months projected to the end of the fiscal year.
· General Ledger Detail - CAF provides a complete detailed general ledger on the same cycle as your other financial reports.  The general ledger report shows beginning balances, the transaction date and description of the transaction and the ending balance for each general ledger account.
· Bank Statements and Reconciliation - CAF provides you with all operating and reserve account bank statements and reconciliation for the same cycle as the financial reports.

Sample Reports
  • Balance Sheet
  •  Income and Expense Statement with Budget
  •  Income and Expense Statement with Prior Actuals
  •  Annual Income and Expense Statement
  •  Cash Disbursements
  •  Collection Status Report
  •  Aged Owner Report
  •  General Ledger
  •  Bank Reconciliation
  •  Annual Budget


In addition to accounts receivable, accounts payable and financial reporting services, CAF offers the following services:
· Member List - CAF offers owner, non-owner occupied and non-resident owner lists with their name, address and phone numbers.
· Mailing Labels - CAF provides you with the mailing labels for owners and non-owner residents.
· Annual Meeting Package - CAF will provide the Association with a complete set of mailing labels as well as members´ sign-in sheets or proxy lists, which can be in alphabetical or account number order.  In addition, CAF provides an up-to-date delinquency report for the annual meeting.
· Newsletters, Minutes or Other Notices Insert - CAF will insert any of the above with its billing statement.
· Title Transfer - CAF will assist your Association in all phases of the title transfer process.  CAF will provide the new homeowner with copies of the Association´s legal documents, delinquency policy, financial statements, operating budget and rules and regulations as required by current state laws. The new owner is required to acknowledge receipt of this information at the time of closing escrow. The Title Company is requested to return a copy of the recorded grant deed and agreement to pay the Association´s assessment at the time of closing.
Carole Gilano-Cayer
Carole Gilano-Cayer
CCAM, CMD, Real Estate Broker