Trustees and schemes often feel the pressure mounting, as the financial year draws to a close. Questions around compliance, audits, and the timely issuance of Annual Financial Statements (AFS) can quickly become overwhelming.
At FMS Property Managers, we make sure your scheme enters the new financial year prepared, compliant, and confident, without the last-minute stress.
Proactive Financial Preparation
We don’t wait for the year-end to scramble or panic. At FMS Property Managers, we maintain accurate and up-to-date financial records throughout the year. This includes bank reconciliations, levy roll management, and creditor and debtor oversight.
Continuous allocation and verification of expenses, combined with careful monitoring of reserve and administrative funds, ensures that by the time year-end arrives, your books are audit-ready.
Early Coordination with Auditors
One of the biggest delays in issuing AFS comes from poor coordination with auditors. We prevent this by confirming audit timelines well in advance, ensuring supporting documentation is complete, resolving queries ahead of time, and acting as the primary point of contact with auditors. This streamlined approach significantly reduces back-and-forth and helps your audit move smoothly and quickly.
Clean, Compliant, and CSOS-Ready Financials
Compliance is at the heart of what we do. Your financials are fully aligned with the Sectional Titles Schemes Management Act (STSMA), prescribed management rules, and Community Schemes Ombud Service (CSOS) requirements.
This means your AFS are not only issued faster, but they are also accurate, defensible, and ready for submission or inspection.
Planning for the New Financial Year
While finalising year-end figures, we also prepare for the year ahead. We draft realistic, data-driven budgets, review levy adequacy and cash flow, ensure reserve fund compliance, and identify trends, risks, and opportunities early. This allows trustees and owners to make informed decisions right from the start of the new financial year, rather than reacting months later.
Remember, faster AFS means faster AGMs.
When your financials are finalised promptly, AFS can be issued in record time, AGMs can be scheduled without delay, and trustee approvals and owner confidence are strengthened. The result is confidence, compliance, and peace of mind, setting your scheme up for a smooth and successful year ahead.