MONTHLY REPORTING

Monthly agenda package distributed the Friday prior to the monthly Board meeting

Monthly financial report distributed to the Board on or before the 15th of the month with copies of all paid invoices, bank statements, and reconciliations

Monthly site inspection report

STAFFING & ON-SITE SERVICES

Property Manager responsible for all aspects of day-to-day property operations and long term planning:

Supervision and training of staff

Management of union problems including conducting employee performance reviews

Oversee shareholder/owner communications and problems

Attend monthly Board meetings

Preparation of Board meeting agenda and package with detailed back-up on agenda items Preparation and attendance at Annual Meeting

Monthly Site Inspection with Building Superintendent and Board Representative to provide comprehensive tracking of ongoing problems and workings on your property

Supervision of contractors and vendors for property maintenance, snow removal, landscaping, pool services, security, etc.

Competitive bidding on services, supplies, repairs and capital improvements Inventory control Service logs to review nature of work performed and how quickly staff is responding to resident service requests Preventative maintenance scheduling

Maintain parking records, sublet lists, resales, etc.

Monitoring of all financial aspects of the property

Assistant Property Manager assigned to property as part of management team to assist with day-to-day operations on your property

Recognizing the importance of training and education, all Anker employees are given incentives to seek outside certifications as well as support from fellow Property Managers in our firm

FINANCIAL REPORTING

Customized detailed and easy to read monthly financial report

Property Manager works closely with your Board and Treasurer as well as Anker financial staff to ensure all financial aspects of the property are being monitored

Budget preparation and monitoring of monthly variances

Preparation, mailing and collection of monthly charges including monitoring and tracking of arrears

Payment of all vendor and contractor invoices on a timely basis

Processing of employee payroll and payroll taxes through Paychex

Preparation of 1098 Mortgage Interest Statements to shareholders (co-ops only)

Liaison with property accountant, attorney and insurance broker(s)

Dual lock-box relationship with NCB

COMMUNICATION

24 Hour emergency on-call service by calling our office number at any time

24-hour voice mail system

E-mail system

RESALE & SUBLET

Anker Management has a separate resale/sublet department dedicated to ensuring the Owners of the units a smooth transition when selling or leasing their unit. The resale/sublet Agent duties are, but not limited to the following:

Guide owners to guarantee an efficient and orderly sale or sublease

Obtain and process the proper paperwork as outlined in your resale/sublet policy

Interact with Board Members, Owners, Attorneys, Appraisers, Real Estate Agents and Banks regarding sale transfers and refinancing

Monitor the status of the sales and sublets

Prepare legal documents and attend closing as Transfer Agent on behalf of the property (when applicable)

Communicate with the on-site staff to ensure the move-in/move-out procedures are adhered to

CAPITAL IMPROVEMENT SERVICES

When the Board is considering undertaking a capital improvement project the Property Manager solicits a minimum of (3) bids for the Board’s review. Anker Management has been involved in the following projects for their current clients:

Roof replacement

Oil tank replacement/refining

Landscaping upgrade of property

Brick point/sealing

Concrete/asphalt replacement

Interior decorating of common areas

Upgrade of electrical services

Upgrade of elevator service

Window replacement/restoration

Boiler/burner replacement

Terrace reconstruction and sealing

Structural Work

HVAC upgrades

Pool reconditioning

Replacement of hot water heaters

Parapet reconstruction Gas conversion

FINANCIAL SERVICES

The goal of the Accounting Department at Anker is to produce a consistently accurate and high-quality financial report. The following is a list of the accounting services we currently provide our clients:

Post repair and parking charges in a timely manner

Provide edit reports of assessment or increases for Board review

Prepare and distribute maintenance/common charge bills to owners

Collect and credit payment of maintenance/common and other charges received

Provide arrears reports

Send late notices

Forward delinquent accounts to the building assigned attorney

Liaison with attorney for update legal status and bill-backs

Post all incoming invoices

Verify all invoices prior to payment

Pay invoices/monitor payments of contracts on a timely basis

Manage reserve accounts

Monitor complete payroll services through Paychex

Maintain all financial records Liaison to Accountants

Input into the computer system approved budgets, weighting categories appropriately

Prepare monthly financial reports for distribution to Board Members and Accountants

Meet with Board Members for customizing financial reports if desired

Property Managers, as well as controllers, review financials before distribution

By the 15th of each month, you will receive your financial package, which includes:

Balance sheet - Individual summaries of investment activities

Cash Reconciliation Report

Income/Expense Report with monthly and year to date figures

Accounts Receivable Aging Report

Accounts Payable Aging Report

Statement of Disbursements

Statement of Journal Entries

Budget Variance Report

Bank Account Reconciliation Report

Copies of all bank statements

Copies of paid bills to Treasurer and Accountant upon request

Annual preparation of 1098’s, mortgage interest statements to shareholders (co-ops only)

End of month procedure is efficient and precise and does not disrupt normal operations

Two months prior to the end of your fiscal year a budget draft will be presented to the Treasurer and Accountant for review. A meeting with your financial committee and accountant will determine the final budget, which will be submitted for Board approval

All stages of financial reporting are managed by our VP of Finance, Craig Perusini