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Reports Provided
Each month we provide a set of detailed Financial Statements, which includes a recap of the entire monthly finances of the property. The financial reports include:
- An Income Statement detailing all inflows and outflows of funds
- A Budget versus Actual Report on a monthly and annual basis
- A Check Register detailing those checks cut within the month
- A "rent roll" detailing the charges credits and payments for each unit owner
- A Delinquency Report of unit owners behind in their monthly obligations
- An Accounts Payable Listing by vendor
- A Statement of Reserve Fund activity
Our reports although detailed are simple and easy to read and review. We can provide the most detailed and elaborate reports requested, however we believe in simplicity.
In addition to the financial reports we provide, our Managers also prepare and distribute in advance of the monthly Board Meetings a detailed written Management Report reviewing all of the issued raised and addressed from meeting to meeting. These reports include proposals received, status of on-going projects, resident and staff issues that frequently come about and also provide the cash balances of the operating and reserve funds as well as the delinquency report. Also included in the Management Report is the status of all apartment sublets, alterations and renovations. Ultimately this report is then supplemented with a Follow-up Report outlining the action items pending and to be completed between meetings by various members of our staff. This report generally becomes the basis for the following month’s activities and management report and is also the basis for the minutes of the corporation or association |
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| 320 East 39th Street • New York City 10016-2106 | Phone (212) 370-1480 • Fax (212) 697-2180 |
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