The Association has hired the Guardian Association Management company to replace Principal Management as the Association's accounting and bookkeeping firm.The change was made because Principal Management reorganized and are outsourcing accounting services in 2014. The transition has been problematic and new structure does not fit well with Beverly Oaks Association's needs.
Guardian was selected for their mature and stable management team. Guardian matched the contract price we were Principal. Guardian is also well suited to provide expanded management in future years should the Association elect to buy additional services. Currently the Association is depending heavily on volunteer support and if there are not enough volunteers, it may become necessary to purchase project management services in the future.
The cost of Guardian's services will be 19% of what the Association was paying for management in 2008. In 2008, 29% of all assessment payments went to management fees. In 2014, only 4% of assessment payments go to management - the remainder is spent on community projects and reserves.
