Timely Financial and Accounting Services You Can Trust
At FirstService Residential Delaware, ensuring your association’s financial stability is one of our highest priorities. With more than 25 years of experience managing the financial affairs of associations throughout Delaware, you can be confident that you’re your finances are in expert hands – managed to the same high standards that have made us the property management leader.
Our financial and accounting professionals provide a full range of fiscal services tailored to your needs to help your association avoid cash flow problems, plan for capital improvements and anticipate market fluctuations. Our scrupulous checks and balances system provides added assurance that every budget transaction will remain unfailingly accurate.
Our financial services include:
- Timely and accurate financial packages
- All financial information is available online 24/7 to authorized through a secure, password-protected program
- Multiple payment options are available to help reduce delinquencies and improve cash flow
- CPA access is provided as needed, helping to reduce your association’s auditing fees
- Your assigned accountant is available to your Board and Treasurer to answer questions and conduct periodic financial reviews
- As part of FirstService Corporation, a publicly held company (NASDAQ: FSRV; TSX: FSV) we are held to the highest standards of transparency, security and accountability and subject to Sarbanes-Oxley requirements
You can count on us to deliver accurate and timely reporting of all of your associations’ financial matters to help your Board stay on budget. Our accounting professionals prepare your balance sheet, income and expense statements, manage your accounts payable and receivables, general ledger, deposit and check history. They also prepare a comprehensive monthly financial status report for your Board, including current-month, year-to-date and comparisons-to-budget data to keep you updated on your community’s financial status at all times.
It is a delicate balance to set maintenance fees that reflect the economic reality of your association’s needs, while taking into account the need to maintain or improve your community’s overall aesthetics. To achieve these goals, our financial team prepares draft budgets for Board review, incorporating anticipated service increases, and including a 12 month history of actual expenses incurred and historical expenses for comparison.
Annual Audit & Tax Preparation
Our financial and accounting professionals prepare all documents required for annual third-party CPA audits and tax preparation. We also provide access to FSRConnect™, our proprietary software platform, to all Board-hired attorneys and CPAs, enabling them to review files, invoices, reports, collections information and other relevant documents to significantly reduce your association’s time and preparation costs.
Our association accounting services include:
- Monthly financial statement package (statements also available online)
- Preparation of balance sheets, income statements, bank reconciliations, support schedules
- Processing of payments via a licensed and insured lockbox facility
- Flexible banking options and fidelity bonds
- Multiple payment options: check, ACH/direct debit, credit card, e-check, etc.
- Electronic scanning of vendor invoices and computerized check preparation
- Board members can review and sign checks online
- Annual budget preparation and processing
- Year-end financial packages provided online for independent auditors
- CPA-supervised dedicated accounting team
- Turnkey collections services
Learn more about how FirstService Residential Delaware’s unique value-added financial and accounting services can benefit your association