At FirstService Residential New York, ensuring your property’s financial stability is one of our highest priorities. Thanks to our successful two decade track record of managing the financial affairs of countless buildings throughout New York City, you can rest assured that your fiscal matters are in expert hands – managed with the same high levels of quality, service and attention to detail that have made us the industry leader.
FirstService Residential New York’s experienced financial management and accounting professionals provide comprehensive services tailored to your needs to help avoid cash flow surprises, plan for capital improvements and anticipate and prepare for market changes. We utilize a meticulous checks and balances system for added assurance that all fiscal transactions are handled professionally and competently, with every budget transaction remaining uncompromisingly accurate.
For added peace of mind, we provide the following assurances and services:
Timely and accurate reporting of all of your property’s financial matters facilitates the successful management of your building – and helps your Board stay on budget. Our financial management professionals prepare your balance sheet, income and expense statements, manage your accounts payable and receivable, 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 abreast of your building’s financial status at all times.
Ensuring maintenance fees reflect the economic reality of your building’s needs, while taking into account the need to maintain or improve your building’s overall aesthetics, is a sensitive balance requiring the fiscal diligence and expertise of our financial team. As part of this process, the team prepares draft budgets for Board review, incorporating any anticipated increases to services, and providing a 12 month history of actual expenses incurred, as well as historical expenses for comparison.
Our financial management professionals prepare all documents necessary for annual third-party CPA audits and tax preparation.
Our financial management services include:
Learn more about how FirstService Residential New York’s unique value-added financial and accounting services can benefit your property.