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Condominium & HOA Accounting in Seminole County

Audits, reviews, compilations, and tax returns for condominium and homeowners associations across Seminole County, in the suburbs north of Orlando.

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Associations we work with in Seminole County

  • Single-family homeowners associations
  • Townhome communities
  • Garden-style condominiums
  • Golf and lakefront communities
  • Master and sub-associations

Community associations across Seminole County

Seminole County sits just north of Orlando, between the Wekiva River on the west and the St. Johns River on the east. Its cities, including Sanford, Lake Mary, Altamonte Springs, Oviedo, and Winter Springs, are largely residential suburbs. Many neighborhoods are governed by homeowners associations.

Alongside single-family subdivisions, you will find townhome communities and garden-style condominiums, some of them built around lakes or golf courses. Larger developments often pair a master association with smaller neighborhood associations.

Financial questions Seminole County boards are working through

Choosing the right level of report

Most associations here are homeowners associations, and the report an HOA must prepare depends on its revenue. An HOA with 1,000 or more parcels must be audited regardless of revenue. Boards should know which tier applies before the fiscal year closes. Florida's reporting requirements set out the tiers and the owner votes that can change them.

Master and sub-associations

When a master association shares costs for roads, gates, ponds, or amenities with neighborhood associations, each one keeps its own books and has its own reporting obligation. Consistent records on both sides make it easier to see what each association owes and what it holds.

Aging amenities and reserves

Communities built in earlier waves of growth now face repaving, roofing, and pool and clubhouse work. Financial statements show what has been set aside and what has been spent, which helps the board plan alongside its reserve study.

Why work with a CPA

A bookkeeper or management company keeps the records. A CPA reports on them. For a community association, that difference matters in six ways.

  • Meets the statutory requirement

    Florida requires an annual financial report from every condominium and homeowners association. Reviews and audits must be performed by an independent, Florida-licensed CPA.

  • An independent view for owners

    An outside CPA has no stake in the board's decisions. A review or audit gives owners and prospective buyers a level of assurance the association cannot give itself.

  • Clear reserve reporting

    Reserve balances, funding, and required disclosures are presented consistently, so boards can see where major repair and replacement funding stands.

  • A properly prepared tax return

    Associations normally file Form 1120-H, the federal return designed for homeowners and condominium associations. A CPA-prepared return stays consistent with the association's financial statements.

  • Observations the board can act on

    In an audit, the CPA communicates significant deficiencies in internal control it identifies. Boards often use these to tighten approvals, collections, and bank reconciliations.

  • Continuity through board turnover

    Directors and managers change. A CPA who knows the association's history helps new treasurers understand the statements and what changed from year to year.

A CPA engagement does not replace an engineer's reserve study or structural inspection, legal advice from association counsel, or management's day-to-day responsibilities.

Services for Seminole County associations

We work with condominium and homeowners associations here the same way we do across Florida. Once engaged, the association exchanges records with us through our secure Feldman One client portal.

Related reading

Request a proposal for your Seminole County association

Tell us about your association, its fiscal year-end, and the report you need. We will review your information and follow up to discuss scope and next steps.

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