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Financial Services

FOURMIDABLE’s monthly financial reports provide clients with current, comprehensive and easy to read financial statements.  They are highly automated and produced on a timely basis.  The monthly financial statements include the following reports.

  • Executive Summary
  • Cash Flow Statements
  • Profit and Loss Statements
  • Budget Variance Explanation
  • Capital Appropriations Report
  • Balance Sheet
  • Resident Receivables Delinquency Report
  • Aged Delinquency Report
  • Trade Accounts Payable Aging
  • Disbursements Register
  • Custom Sources and Uses Statement

FOURMIDABLE utilizes eSite computer software to perform most functions at its corporate headquarters.  Resident Accounts Receivable are collected and posted on-site using computer software that is interactive with the corporate office.  Data is transmitted to the corporate office.

Additional Financial Services

  • Cash Management
  • Investment of excess operating funds
  • Centralized disbursement account
  • Operating analyses and comparison studies for management review
  • Real Estate tax and insurance escrow analyses
  • Monthly review of operating statements
  • Annual budget submission
  • Compliance with HUD and State Housing Agencies
  • Coordination of annual audit with Certified Public Accountants
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FOURMIDABLE  |  32500 Telegraph Road, Suite 100  |  Bingham Farms, MI 48025

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