By Gary R. Caddell, Auditor/Investigator Training Officer

For the second year in a row, the Real Estate Commission's Trust Account Caravan set a record for attendance with 570 persons compared with 505 in 2000 and 291 in 1999.

The Spring 2001 Trust Account Caravan made stops in Asheville, Banner Elk, Charlotte, Fayetteville, Greensboro, Kill Devil Hills and Wilmington. Twelve "Basic Trust Account Procedures" courses and four "Trust Account Procedures for Resort Property Managers" courses were offered–three more than last year.

Held annually, the Caravan was instituted by the Commission in 1982 to provide courses to people statewide who cannot attend the monthly courses in Raleigh.

Designed with Brokers-in-charge and trust account bookkeepers in mind, the "Basic Trust Account Procedures" course provides instruction in the preparation of trust account journals, ledgers and related records for the proper maintenance and accounting of the funds of others. Related topics include the proper handling of owner/broker trust funds and the Tenant Security Deposit Act. The "Trust Account Procedures for Resort Property Managers" course covers issues specific to resort property management, such as the Vacation Rental Act, sales taxes and subsidiary ledgers. It is offered only during the Spring Caravan. The Commission recommends taking the "Basic Trust Account Procedures" course before attending this course.

Both courses were developed and are taught by members of the Commission's Audits & Investigations Division. In an effort to ensure that the information is current and easy to understand, several important revisions have been made over the last three years. If you attended either course prior to 1998, you might want to take it again. You will receive four hours of elective continuing education credit for completing the course.

Plans are already underway for the Spring 2002 Trust Account Caravan, which will make stops in Asheville, Boone, Charlotte, Fayetteville, Greensboro, Kill Devil Hills, Morehead City and Wilmington. [See the registration form on page 10 for dates and locations.] Please remember that class size is limited. Despite the expanded schedule, several of the classes in the 2001 Caravan were sold out. To ensure your spot in next year's caravan, be sure to register early.

[Note: To register for one of the monthly "Basic Trust Account Procedures" courses in Raleigh or for the 2002 Spring Caravan, please register online at www.ncrec.state.nc.us, use Fax-On-Demand or complete the registration form on page 3 of this Bulletin.]