This is our favorite time of year, but it goes by fast, so enjoy every minute!
Stacie has recently become a member of the Legislative Support Committee for CAI (Community Associations Institute). This committee has been formed to support the efforts of CLAC, CAI’s California Legislative Action Committee. She will be sharing information with you as she works with this very important committee. To get started, please read the following two articles about CLAC:
What is CLAC?
CLAC 2014 Accomplishments
If you are interested in donating to CLAC, please contact CFM to coordinate payment.
Please continue reading for a great article on workers compensation and other important information.
Linnea & Stacie
No employees = No workers comp? WRONG!
Associations without employees should still carry a minimum workers compensation policy. The premium is very affordable and the protection is priceless. The coverage will also extend to the directors, officers, and volunteers. You might be wondering why it is so important if the association doesn’t have employees. Imagine a scenario where the association hires a contractor who fails to maintain workers comp coverage and their employee is injured. The association could be held liable to pay workers comp benefits. Or a person is performing work for an association and the work being done requires a contractor’s license but the person does not have a license. That person and all of his employees are considered to be employees of the association. Keep in mind, licenses are required on any job costing more than $500.
These are just a couple of examples of real life situations that can trigger a work comp claim. Protect the association with a no-payroll work comp policy covering the board and committee members too! Contact CFM and we will coordinate securing the policy on your behalf.
Keeping you up to date with information such as this is a reminder why you have chosen CFM as your financial management team. CFM is the only accredited financial management firm in California. We appreciate the opportunity to serve your Association!
The Franklin Award
The Franklin Award is a company reward of a $100 bill given to one employee per quarter in recognition of an outstanding achievement or extraordinary task completion. They can be nominated by their fellow employees, by a homeowner, board member, or colleague. The Franklin Award winner for Fall 2014 is Gen Arao, Accounts Payable and Collections Specialist. Gen was nominated by a client for her marvelous job as their account manager, citing her as efficient and effective, with immediate response times and timely advice. They are delighted with the service Gen provides. Well done Gen!
Our CFO, Stacie Donnelly, interviewed as a Community Champion
Stacie Donnelly was asked by CACM (California Association of Community Managers) to be interviewed as a Community Champion for our industry. Please read the interview by clicking here.