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Accounting & Financial Reporting

Our qualified and professionally trained accountants will assist you with budget preparation, and provide the Board of Directors with complete up to date financial statements on a monthly basis. We will perform annual subsidy reviews as per your coop's policy, collect housing charges and process annual Home Owners Grants and property taxes.

New Life Management Services Inc. will provide payroll services for your employees. We will monitor and report on any arrears, and maintain accurate and up to date accounting records that are in compliance with not-for-profit accounting standards and meet CMHC requirements. You will also always be provided with a monthly back-up copy of your accounting books to be stored on your computer.

Monthly Financial Statements include, but are not limited to:

  • Statement of Cash Flows and Cash Flows Forecast
  • Statement of Financial Position
  • Statement of Income vs. Budget Performance
  • Subsidy Surplus Fund and Subsidy Used Statement
  • Replacement Reserve Expenses report.

Additional statements available upon request include, but are not limited to: cheque register and bank reconciliations and member arrears report.

Our Services

Onsite Coordination

Our knowledgeable and friendly on-site coordinators are trained to tackle any administrative tasks they come across, no matter how big or how small your co-op is. Our coordinators will be your front-line staff in communicating with members, the board of directors, and numerous committees. They are there to help your community run like a "well-oiled” business and a “well-managed” household. Learn More...

Maintenance Coordination Services

We understand the importance of speedy, effective, and reliable maintenance. Maintenance issues affect your bottom line, and the prosperity and longevity of your homes. This is why we take careful measures to solve a problem before it becomes a crisis.  Our maintenance coordination software will provide you not only with maintenance reports, but also with statistical data to help make strategic decisions for the future direction of your co-op. Learn More...

Optional: Additional Services

We pride ourselves on the flexibility of our custom services that include cloud document storage, on-site accounting system set-up, vacancy marketing and more. Learn More...