Financial Reporting & Controls

Efficient building management requires current, in-depth, accurate and immediately accessible financial information. TRS excels with regard to financial reporting and controls.

Financial information reports are provided to each TRS-managed building on a monthly basis using proprietary accounting software that has been customized to fulfill all requirements of both TRS and its clients. This always accurate information is also always immediately available, empowering TRS clients to make informed financial decisions. The TRS system is online within the TRS office and over a secure virtual private network (VPN) to our site offices, and accessible via TudorConnect to authorized board members and clients. This assures critical information is accessible by the required parties at all times.

Depending on client request, we provide hard copy, PDF and/or electronic reports. Up-to-date reports are always available electronically in a secure, password-protected area of

One of the distinctive features of TRS monthly reports is the inclusion of a copy of the bank statement for each client’s account, as well as reconciliation of that statement. All TRS reports tie into the latter. We also produce detailed budgets of projected income and expenses for each property. Once approved, this budget is used for monthly reporting purposes.

A strictly enforced code of ethics serves to secure our reputation, as well as provide clients with a sense of confidence and security. The firm’s principals and senior executives closely monitor activities of agents and support personnel.

Overview of Types of Reports TRS provides:

  • Summary operating “balance sheet”, an overview of cash balances, receivables, payables and other significant financial items.
  • Detailed Income and Expense Report with budget variances. Actual results are compared to budget, monthly and year-to-date. Income and expense categories are customized to desired form.
  • Chronology of Receipts and Disbursements, tracking account activity on a daily basis. TRS handles payables with a purchase order and voucher-based system, controlled by an Accounts Payable Control Account in the General Ledger. We also a provide a Disbursement Report, which details in chronological order, the General Ledger Expense Account to which payables have been distributed.
  • General-Ledger balance and posting detail report providing detailed information for all account activity, organized by balance sheet and income and expense categories, including year-to-date balances.
  • Rent/Maintenance Collection Transactions including a rent-roll of posted charges with details as well as delinquency reports.
  • Depending on the type of property and significant activities:
    • Analysis of ongoing capital improvement projects including contract amounts, change orders, payments and funding provisions
    • Lease expiration/other occupancy reports
    • Status reports of lease specific/speculative interior construction projects
    • Lease abstracts
    • Lease reports including renewal activity
    • Legal status reports for landlord/tenant issues
    • Tenant relations reports

Licensed Real Estate Broker | 250 Park Avenue South | NY, NY 10003 | 212 557 3600 |

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