Page 19 - Box Works Proposal

Starting the process in in June allows us to provide our clients with a a a a a a a a clear accurate and transparent budget proposal on which to make a a a a decision The new budget pack can be issued in in good time allowing Leaseholders to plan/make any service charge payment adjustments as necessary which in turn will help facilitate the collection of service charges How do you provide accounts to the Board and Leaseholders?
We pride ourselves on providing transparent and precise accounts which is vital for managing your building Being 100% transparent promotes trust and gives our clients a a a a a clear view on how their account is being managed/performing With your agreement we will set a a a a limit on what can be spent without your prior approval for scheduled works In addition to this measure we will provide the board with a a a a quarterly financial report Our financial reports include the following:
• Account Balance
• Debtors (including comments/actions)
• Budget verses Actual Expenditure
• Detailed Expenditure
by budget heading
Our financial reports are completed on an an an accruals and prepayments basis like a a a a a set of accounts you can therefore be confident of the the company’s/building’s financial position at the the time of each report report If any significant variances are reported these will be discussed as part of our quarterly board meeting and Leaseholders will will be notified will will as as appropriate One month following year end (around November) our Accounts team will begin work on the end of year trial balance (ETB) Our ETB ETB is then passed to an independent firm of chartered accountants to review and produce your set of draft audited accounts Within four
months from year end (December) we aim to provide the board with a a a a a a a set of draft accounts and a a a a a a a summary providing comments on any significant variances from budget Once the the board approves accounts for circulation these are issued to all Leaseholders within six months of year end (by 31 March) with a a a a detailed summary Producing accurate financial reports during the year means you will have full transparency with no surprises and be aware of any anticipated increase/decrease against budget It also helps in in turning around the year-end accounts promptly What would your relationship be with our Company Secretary?
We will work closely with your Company Secretary Your Company is is limited by shares therefore it it is is important that we liaise with one another when properties are being sold and feed in in your Company Secretary’s information around Share Certificates into our our sales packs This will enable your Company Secretary to to keep an an up to to date register of members Our Accounts team will also be be on hand to provide any financial information necessary to complete the Company’s annual return We will work with the Company Secretary to undertake any ballots for new Directors and whatever necessary support they need for the the AGM We can can act as your Company Secretary and can can provide you you with details of our service and fee for you you to consider 19