At FirstService Residential West Virginia, we are committed to maintaining the financial health of your association. With our experience in providing quality financial services to associations throughout West Virginia, we manage your association’s financial affairs with the utmost attention to detail and professional – the qualities that have made us the state’s property management firm of choice.
Our financial and accounting professionals provide a full array of professional services that help your association anticipate market changes, plan capital improvements and eliminate cash flow surprises. We also use a proven checks and balances system for added accuracy and protection.
When you partner with us for your financial services, here is what you can expect:
- Timely comprehensive financial packages, including in time for Board meetings
- All association financial information is accessible to authorized users 24/7 through a secure connection
- Multiple payment options available to improve cash flow and reduce delinquencies and improve cash flow
- CPA accessibility to reduce your association’s auditing fees
- Your team accountant is available to the Treasurer and Board and Treasurer to conduct periodic financial reviews
- An in-house Resale Department to eliminate lost assessments when homes are re-sold
- As part of a publicly held company, FirstService Corporation, (NASDAQ: FSRV; TSX: FSV) we are held to the highest standards of transparency, security and accountability, and comply with Sarbanes-Oxley requirements
Timely and Accurate Financial Reporting
Our CPA-supervised accounting team produces timely and accurate reporting to keep your Board updated and on budget. Team members prepare a monthly financial status report for your Board, including current-month, year-to-date, comparisons-to-budget and historical data to keep you fully updated on your association’s financial status. They also prepare a balance sheet, expense and income statements and manage accounts payable and receivable, as well as other required financial activities.
Your association must assess fair maintenance fees that reflect the economic reality of both your homeowners and your community’s needs and use available funds for ongoing repairs, modifications and improvements. Our financial team helps you spend responsibly and safely by preparing accurate draft budgets for Board review, including anticipated increases, actual expenses incurred over the past year and historical expense data.
Annual Audit & Tax Preparation
Our team also prepares all documents required for annual third-party CPA audits and tax preparation. In addition, we provide access to our FirstService Residential Connect™ software platform to Board-hired CPAs and attorneys to review relevant files, records and documents, saving time and preparation costs for your association.
We provide the following financial and accounting services:
- Monthly financial statement package (statements also available online)
- Preparation of balance sheets, income statements, bank reconciliations, support schedules
- Annual budget preparation and processing
- Multiple payment options
- Payment processing through a licensed and insured lockbox facility
- Flexible banking options and fidelity bonds
- Multiple payment options
- Electronic scanning of vendor invoices and computerized check preparation
- Board members can review and sign checks online
- Year-end financial packages provided online for independent auditors
Learn more about how FirstService Residential West Virginia’s unique value-added financial and accounting services can benefit your association.
Get the Latest News and Resources
Receive valuable insights and informative resources for your community! Sign up below.