As a TMA client association, your organization will receive a full range of management services on a shared-cost basis, depending on your needs, interests and financial limitations. Within this environment of cost sensitivity, your organization will be assured of sound financial management, confidentiality of all budget and financial matters, timely and accurate financial reports, detailed annual operating budgets and complete autonomy and control over your organization's financial affairs.

As noted within the TMA / Client Management Agreement, your organization's annual operating budget will define the expectations, conditions and limits for the types of services and programs that will be provided throughout the year.

The following financial management services are provided to all TMA clients:

Preparation of annual operating budget;

Invoicing and collecting of all dues, fees and accounts receivable;

Management of accounts payable and maintenance of sound vendor relations;

Preparation and distribution of monthly income statements;

Establishment and maintenance of appropriate checking and money market accounts; and,

Management of approved investments.

By working closely with the organization's finance committee and/or treasurer, TMA will ensure that all programmatic and services decisions are made in the context of available funding.

It is highly recommended that associations conduct an annual audit by an accredited independent CPA firm, to include the filing of appropriate tax forms. TMA will arrange for such an audit each year, providing further assurance of the association's financial integrity.

 

Thompson Management Associates • 105 Eastern Avenue Suite 104 • Annapolis, MD 21403 • P:(410) 263-1014 F:(410) 263-1659 • EMAIL