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    Our Performance Goals

    Ultimately, our goal is to provide you with personalized, quality service and remove the perception of fear that accompanies the word “auditor”. The following areas will give you a better understanding our performance goals. We hope this introduction will give you the confidence to grow into a long-term relationship with Czarknowski & Beer, LLP, and frankly, we believe the value and financial success of your building will grow with it.


    Minimize

    • Deficits
    • Taxable income
    • Operating costs, including but not limited to co-generation systems
    • Linkage of use of outside consultants to issues and expected refunds/savings
    • Risk in uneconomic times

    Maximize

    • Tax benefits of assessments
    • Communication of commonly missed financial benefits
    • Energy cost awareness within your building
    • Budget increase compared to other properties
    • Tax benefits collections and financial controls

    Cost Savings

    • Comparable studies of per-unit costs
    • Preliminary energy efficient evaluation to determine if full energy audit is cost-effective
    • Consideration of cost-saving opportunities and new sources of income
    • Calculation of independent expectations for expenses and advisement when actual amounts  significantly vary from expectations
    • Reconciliation of contract payments through entire project
    • Search for ancillary costs of  projects
    • Matching of assessments with appropriate projects

    Board Interaction & Analysis

    • Work with the Board to highlight tax benefits to unit owners
    • Inquiry and tracing of transactions to Board determinations and actions
    • Tracing of contract progress from Board minutes and percentage completion
    • Protection for the Board from scrutiny
    • Board involvement in the Financial Statement Disclosure Process to assure enhanced disclosure of information to financial statement users
    • Overcoming unit owner passivity, reaching a quorum at your annual meeting
    • Publication of our audit adjustments to the managing agents’ records for your review

    Fund Analysis

    • Adequate funding of reserves
    • Establish long term capital budget including evaluating long term funding options
    • Review of reserve fund investing
    • Feasibility of reserve fund studies
    • Highlight when appropriate listings of tenant security funds are not being maintained
    • Advisement when estimated bills are being charged to assure adequate funds set aside and  situation monitored
    • Advisement of significant changes in tax credits and when significant non-refunded credits  have accumulated
    • Policies and procedures to counter misuse of funds
    • Building appropriated funds
    • Detailed reconciliation of real estate taxes and tracing of real estate tax refunds posted and assuring funds are received

    Review & Verification

    • Out-of-the-ordinary transactions such as transfers and journal entries
    • Expenses to vendor websites as opposed to paid bills wherever possible guidelines are followed for required shareholder real estate tax credits
    • Recommended types of insurance are maintained and advisement if cancellation for an unexpected reason building insurance coverage is reasonable based upon the relationship of NYC market value to coverage maintained by other clients
    • Assure your property is Fannie Mae Qualified
    • Reviewing your property manager’s monthly report
    • Large or non-recurring amounts
    • Linkage of transfers from reserves to capital projects

    Advisement & Reminders

    • Advisement on signatories on bank accounts who have left the board or managing agent
    • Advisement of benefit of considering refinancing based upon current market
    • Advisement of significant changes in consumption which may indicate broken meters or leakage
    • Advisement of failure to pay sufficient withholding or corporation taxes
    • Advisement when insurance is being overcharged due to the lack of a required insurance company audit of payroll
    • Enhanced Advisement of proper structure of capital assessments, including provisions in operating budgets to assure unit owner tax deductions are maximized
    • Reminders sent of property abandonment laws and checks, tenant security deposits, unreturned real estate tax refunds for condominiums
    • Reminders of title and other escrow of funds which have not been recovered
    • Annual sales tax filings to limit statute of limitations

     

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