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
