Community Association Management Accounting - Florida

Not all accountants are qualified to do Community Association Management Accounting (CAM Accounting).  In the state of Florida, as described in Florida State Statutes 468.431: 

(2) “Community association management” means any of the following practices requiring substantial specialized knowledge, judgment, and managerial skill when done for remuneration and when the association or associations served contain more than 10 units or have an annual budget or budgets in excess of $100,000: controlling or disbursing funds of a community association, preparing budgets or other financial documents for a community association, assisting in the noticing or conduct of community association meetings, and coordinating maintenance for the residential development and other day-to-day services involved with the operation of a community association. A person who performs clerical or ministerial functions under the direct supervision and control of a licensed manager or who is charged only with performing the maintenance of a community association and who does not assist in any of the management services described in this subsection is not required to be licensed under this part.

(4) “Community association manager” means a natural person who is licensed pursuant to this part to perform community association management services.

Basically, this means is that if you are controlling or disbursing funds of a community association, preparing budgets or other financial documents for the community including financial statement preparation you must be a Florida licensed CAM.  If you are a CPA and conduct any controlling or disbursing funds of a community association, preparing budgets or other financial documents for the community including financial statement preparation, you are not exempt from Florida statutes and therefore must be a licensed CAM. 

J Brooks & Associates,Inc. is a Fort Myers, Florida based Community Association Management Accountant.  Our staff is state licensed CAM’s and works with many property managers and Community Associations (Homeowners, Condominium, and Master) to ensure compliance with all federal laws and individual association by-laws.