Accounts Receivable
As of July 31, 2008, SWRA has met our income projections for this year. As most of you know, the maintenance
fees and assessments of the properties provide the major source of these funds. Although most property owners
pay their bills by the January 31st deadline, it is unfortunate that we also have those who do not pay their fees.
A very aggressive collection program for past due accounts has been a major part of our success in meeting
income projections. Holloway Credit Solutions, our collection service, collected $7,958 in June and July.
Don Harrison, our local collection attorney, collected $7,952 in July for seven legal cases. Unfortunately, our
accounts receivable balance still exceeds $100,000 for 130 accounts. You may hear some people complain, but
we intend to collect all monies owed in order to keep your costs as low as possible. e will continue our collection
program to result in each property owner paying “their fair share” as provided by the SWRA covenants.
The financial statements are always available in the SWRA office, and I will be happy to answer any questions.
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