// FINANCIAL SERVICES
Above all, it is essential that the management company you choose be professional, capable, and trustworthy with your condominiumís finances. Financial documents must be prepared with accuracy, and also timely so that the board can make decisions about the future. Along with managing the corporationís day-to-day financial needs, our reports will help to guide your planning, budgeting and investing. Our financial services division will ensure the following duties are carried out in a timely manner for your commercial condominium corporation:
Accounting & Banking Services
Prepare and distribute financial statements monthly to the Board by the 15th day of the following month. Included in the financial statements will be the following:
- Notes, which will explain any large current month variances in expenditures over the current monthly budgeted expenditures. A breakdown of Accounts Receivable, a summary of invested funds, and an analysis of Accrued Liabilities.
- Balance sheet
- Detailed breakdown of Reserve Fund and Expenses
- Statement of Operations
- Detailed Breakdown of Expenditures
- Trial Balance
- Accounts Receivable Aged Trial Balance
- Accounts Payable Summary
- Cash Disbursements Listing
- Bank Reconciliation
- Utility Accruals Listing
- Copies of Bank and Investment Statements
- Cash Management and investment of surplus funds in the Corporation's name under the direction of the Board for maximum return on investments.
- Prepare draft budget and present to the Board 60 days prior to year-end.
- Reserve fund planning and projections, all in accordance with engineered reserve fund study.
- Use of purchase order system and have efficient and acceptable approval controls.
- Complete payroll administration including direct deposit for all employees.
- Preparation and assistance for the annual audit.
- Timely and effective common element fee collections.
- Processing of all accounts receivable, accounts payable and banking.
- Pre-Authorized payment for common element fees.
Natural Gas Direct Purchasing
A natural gas purchase agreement between Commercia Property Associates Ltd., Comsatec Inc. and Superior Energy Management allows us to purchase natural gas in bulk directly from producers, marketers or local distributors on behalf of our Corporations. This enables our Corporations to receive savings via Enbridge Gas at a reduced rate