Spring 2014


CFM is hosting an evening reception along with other leading industry experts to provide advice and discussion on your hot topics! The date is April 24th from 5:45-7:45 held at our office located at 1001 Galaxy Way #200 in Concord. We will be joined by Levy, Erlanger & Company, CPAs, Hughes, Gill, Cochrane Attorneys at Law, and Union Bank. You will enjoy food, beverages, and giveaways just for showing up! And for every association in attendance, Levy, Erlanger and Company is providing a free gift of their recently published 2014 Condominium Greenbook. RSVP today as space is limited. Email StacieD@condofinancial.com or call Stacie directly at 925-566-6672.

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!

With Gratitude,
Linnea & Stacie

All New Davis Stirling

Effective January 2014, the Davis-Stirling Act was renumbered and rewritten. New laws are now in effect and we would like to make you aware of two in this article. The first is a major change in how budget disclosure packages will be presented to your membership. Previously, the budget package was mailed as a pro forma budget containing all required disclosures. Now the disclosure has been split into two packets; The Annual Budget Report and The Annual Policy Statement (§ 5300 and 5310).

Click on the civil code sections above to read all the required items that must be put together as part of these reports. CFM is ready to manage this new requirement when engaged to handle your budget process.

Another major change that will affect our clients has to do with reimbursement assessments. Associations are now required to hold properly noticed hearings (due process) before levying a reimbursement assessment against an owner for repair costs related to common area damage (§ 5855). This does not affect your ability to charge homeowners for pool keys, garage transmitters, etc. However, If a homeowner’s leak caused damage, a hearing would be necessary prior to assessing the repair costs to the homeowner. This has always been good practice but the law now mandates this approach.

Read what our clients are saying about us…

“Your organization makes my life less complicated”
Rubee Taylor
Libra Terrace HOA
To read more client testimonials, click here

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 4th quarter 2013 is Andrea Rodriguez, Operations Manager. Andrea was nominated by her co-workers for being our go-to person who fixes everything, notices when things need to be dealt with, and plans and executes very well. Nice work, Andrea