Condo CFO

About Condo CFO

It takes a lot of knowledge and effort to keep up with bill-paying, monthly common charge collection, taxes, payroll, financial statements, and budgeting for these organizations. Many New York City residents worry about how this job is being handled even if they hire professionals. Are all the details covered? Is the organization in full compliance with the law? What about long-term financial planning? Condo CFO delivers a disciplined and proactive approach to meet the comprehensive accounting and financial needs of self-managed buildings and larger homeowners associations. Our obsessive attention to detail and big-picture financial analysis lets you stop worrying, while our thorough, customized service makes the process easy on association leaders. Even better, the common charges individual homeowners pay are often reduced through effective and efficient financial management. We stay on top of the financial issues that impact your operations and, ultimately, your property value. Services include, but not limited to: • Bill payments • Payroll processing • Invoices and collections of association fees and assessments • Bank statement reconciliation • Monthly and quarterly financial statements • Budgeting and financial planning • Federal, state and local tax returns • Forms 1099 for vendors • Representation in IRS, New York tax, Labor Department or workers’ compensation audits • Board meeting presentations and regular communications • 3rd party board election inspections • New York City coop/condo tax abatement filings • Energy benchmarking filings • Contract review • Unit closing process management, including: • Completing bank questionnaires • Acting as liaison with attorneys, brokers, purchasers, sellers and board • Preparing right of first refusal letters • Working with new owners and scheduling move in, and more.

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