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Financial Management
- Annually prepare the service charge budgets, providing Directors with detailed financial information for their agreement prior to the issue of service charge.
- Methods of payment available either by cheque, standing order, debit or credit card.
- Manage individual Management Company or Residents Associations bank accounts within ring fenced dedicated client trust accounts.
- All payment transactions detailed and recorded.
- Monitor and record payment of invoices.
- Maintain financial records on a bespoke Management System.
- Pursue unpaid service charges. Debt collection to be undertaken where necessary.
- Answer residents queries regarding service charges.
- Advice to residents with regard to their obligations under the terms of their lease or transfer.
- Provide Directors with quarterly income and expenditure summaries. If required these can be supplied monthly.
- Directors advised regarding progression of debt collection.
- Discussion with accountants relating to the preparation of Audited Annual Accounts to the Directors.
- Liase with Directors on the content of the prepared Audited Annual Accounts.
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