Financial Management Services
You might not require our full Strata Management package for your small to medium sized strata corporation. If that is the case, you might find our Financial Management package to be an ideal fit.
A detailed list of these services can be viewed by clicking here +
- Maintenance of separate trust account(s) in the name of each client
- Collection of monthly strata fees and special levies, penalties, parking, storage, laundry and miscellaneous charges, where appropriate. This includes:
- executing electronic bank transfers
- sending reminder letters in advance of post-dated cheque payments expiring
- posting payments to each owner’s account and maintaining accurate accounts receivable
- initiating collection of overdue accounts, including correspondence, providing advice to the strata council and, if necessary, arranging for the filing of liens and court-ordered sale proceedings
- Payment of approved trade and supplier invoices, employee, payroll and contractual obligations. This includes:
- coding invoices for processing and preparing financial statements
- preparing, signing and issuing cheques on behalf of the strata corporation
- Preparation of monthly operating statements to include:
- balance sheet
- statements of receipts and disbursements for both the Operating and Contingency Reserve Funds
- general ledger listing
- accounts receivable listing by owner
- copy of bank statement and reconciliation
- copies of paid invoices
- Preparation of annual Operating and Contingency Reserve Fund budgets itemizing projected revenues and expenditures for approval by the strata council and strata corporation.
