Finance

Good finance is critical to the healthy running of any company. It’s the number one activity that has to be managed well.

Our Remit:

• To manage the company’s finances and budgets.
• Liaise with the Managing Agent over, accountancy, auditing, and banking.
• Prepare and present financial reports to the Board &  members.
• To oversee the collection of service charge demands or estate contributions.
• To ensure that the appropriate insurance policies are in place.
• To monitor the reserves/sinking funds and plan for long-term capital/one-off expenditure.

Specifics in respect of handover/transition to being Resident Controlled:

• Financial Forensics: To Review and audit LSH Residential’s financial handover – including service charge accounts, reserve funds, bank balances, and any unpaid charges.
• Handover Sign-Off: working with LSH to ensure that the financial handover is clear and that residents’ money is protected.
• Service Charge Planning: Working with LSH to ensure continuity & planning in advance the year’s budget, based on real estate needs and accurate costs.