Accounting Services

• Pre-Authorized Debit or Post-dated Cheque payment of Condominium Fees and Special Assessments

• Corporation owned bank account with Board of Director signing authority

• Monthly Financial Statements

  • Balance Sheet

  • Income Statement

  • Accounts Receivable/Payable

  • Budget comparison for year and month to date

  • General Ledger

  • Invoice Copies ( upon request)

  • Bank reconciliation for the current month to match your current financial statement

• Annual Budget preparation based on the direction of the Board of Directors and distribution of Approved Budget and Assessment to owners

• Reserve Fund and investment planning and implementation

• Audit Administration

• Arrears Program

  • All unit owners are politely advised when their fees are in arrears;

  • Unit owners two months in arrears are informed of the penalties (interest, caveat, legal action) that will be taken if fees are not paid.

  • When a unit owner is three months in arrears, their file is sent to legal counsel and is subject to a Caveat being placed. All related costs are the owner’s expense;

  • Unit owners whose payments are returned NSF are charged a $25.00 fee per returned payment;

  • All individual payment arrangements by unit owners must be made in writing and are subject to Board approval;