For the FirstService Residential Tennessee team, ensuring your association’s financial stability is a key priority. With our track record of successfully managing the financial affairs of associations throughout Tennessee, you know your fiscal matters are in expert hands – managed with the same quality and attention to detail that have made us the most trusted property management company in the state.
FirstService Residential Tennessee’s experienced financial and accounting professionals provide tailored services to help your association prevent cash flow surprises, plan for capital improvements and anticipate market shifts. In addition, our thorough checks and balances system provides additional assurance that all financial matters remain accurate at all times.
Here are some of the financial services we provide:
Our financial and accounting teams keep your Board updated and on budget through timely and accurate reporting on all financial matters. Our CPA-supervised accounting team prepares a comprehensive monthly financial status report, including current-month, year-to-date and comparisons-to-budget data, as well your association’s balance sheet and income and expense statements. They also manage accounts payable and receivable, and handle all required financial activities.
Your association must assess fair maintenance fees that reflect the economic reality of your residents and community, but also cover costs for repairs, beautification and improvements. Our financial team uses its experience and financial diligence to balance these needs, preparing draft budgets that include anticipated increases, actual expenses incurred over the past year and historical expenses.
All required documents for annual third-party CPA audits and tax preparation are prepared on a timely basis by our team. In addition we provide access to FirstService Residential Connect, our management software platform, to Board-hired CPAs and attorneys. By enabling them to review relevant files, records and documents, we help reduce your association’s preparation costs.
We offer the following financial and accounting services for your association:
Learn more about how FirstService Residential Tennessee’s unique value-added financial and accounting services can benefit your association.
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