Co-Op Services

1. Financial Operations
2. Meetings & Minutes
3. Tasks & Trades
4. Communications
5. Emergency Response

FINANCIAL OPERATIONS

All financial operations are conducted in accordance with the Real Estate Services Act and Operating Agreements.

Open and maintain all necessary trust bank accounts.  Each co-op has independent bank accounts.

Negotiate discounts and favourable rates to optimize interest with financial institutions including term deposits and operating accounts.

Bill, collect and deposit co-op income; including monthly housing charges,         assessments, fines and miscellaneous charges.

Provide preauthorization payment option to co-op members.

Provide special accounts receivable collections; such as arrears, billings, termination,    eviction administration and initiate legal action, as required.

Receive, code, approve and pay expenses as authorized.

Prepare and provide financial statements in a timely manner.  Full statements include detailed      general ledger, aged accounts receivable, bank reconciliation including bank statements.

Provide copies of paid invoices as requested.

Assist co-op boards with annual budgeting, long term planning and replacement reserve fund requirements.

Arrange audits.

Provide payroll as required.

Reconcile share refunds as required.

MEETINGS AND MINUTES

Prepare agendas, statements, documents, and reports as necessary and distribute them in advance.

Organize and attend board and general meetings in accordance with service agreement.

Facilitate board and general meetings as required.

Provide knowledge and experience to board members

Provide minute drafts to boards within 48 hours as required

Provide minutes for distribution within one week.

Prepare and distribute general meeting documents in accordance with the Cooperative Association Act.

Prepare general meeting registration documents, including registration list and ballots.

 

TASKS AND TRADES

Complete tasks and directives in a timely manner.

Arrange competitive property maintenance, repairs and contracts as authorized.

Provide available bulk purchasing discounts and services.

Insurance: Ascent has a unique Master Insurance Program.  Economies of scale provide  a significant premium discount while providing an excellent independently drafted coverage specification.

Pay trades in a timely manner.

 

COMMUNICATIONS

Respond to phone, fax, email and correspondence in a timely manner; normally same day or within 24 hours.

Provide advice to directors at meetings, as required; such as industry operational, administrative accepted practices and regulations.

Provide documents and records.

Communicate and correspond with client employees and trades.

Receive and acknowledge correspondence.

Place correspondence on meeting agenda.

Provide rule violation correspondence and follow up.

EMERGENCY RESPONSE

Provide a 24 hour emergency answering/responding service.

We record and act on various types of emergencies that may be unique to each co-op.

Emergency responses are reported to and followed up by the Co-Op Manager.