Transition Timeline

Making the Transition to Halcyon



Who you hire matters. Halcyon’s highly trained managers and staff members have extensive experience in efficient and timely association transitions. We have comprised this general timeline to give associations some insight in the process of transitioning to our company.
  • Step 130 DAYS PRIOR TO IMPLEMENTATION:

    ~ Financials; Approved Budget; List of Accounts; Payables; Vendors
    ~ Insurance Policies; Current Assessment Roster; Property Unit List
    ~ Check to Open Operating Account (Typically $500)
  • Step 2

    20 DAYS PRIOR TO IMPLEMENTATION:

    ~ Mail letters to residents notifying of transition to Halcyon and providing contact info.
    ~ Existing Contract; Copies of Contractors’ Certificates of Insurance/W-9’s
    ~ Contract Status List, including deadlines and expiration dates
    ~ Investments and Signatories List

  • Step 310 DAYS PRIOR TO IMPLEMENTATION:

    ~ Information on pending insurance claims; List of Bank Accounts; Status of all assessment accounts.
    ~ Reserve Fund status and location; Authorized signature for Reserve and Operating accounts
    ~ Federal and State income tax files; List of working capital collected
    ~ Individual owner files, correspondence, resale records, accounts receivable and collection files
    ~ Vendor Files, including contracts and professional agreements; Warranty Certifictes and files
    ~ General correspondence files; Legal files; Notify utilities and current vendors of Halcyon’s billing address and date of inception of management contract
  • Step 4

    5 DAYS PRIOR TO IMPLEMENTATION:

    ~ Write final checks for operating and reserve accounts and investments
    ~ Collect unpaid invoices and open purchase orders
    ~ Update South Carolina Secretary of State of filings for registered agent and address

  • Step 5~ IMPLEMENTATION ~

  • Step 6

    10 DAYS AFTER IMPLEMENTATION:

    ~ Monthly bank account statements; Investment Statements; Bank reconciliation and cancelled checks
    ~ Income tax audit file

  • Step 715 TO 20 DAYS AFTER IMPLEMENTATION:

    ~ Closing Financial Statements; Balance Sheet; P&L; and General Ledger Report