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For many property managers and owners, the cost of utilities is the single largest expense that directly affects the net income of their operations. Utility budgets are used to ensure proper operating costs are charged to tenants, to manage cash flow and to understand how and why budget variances occur.
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Tenants, auditors and shareholders do not appreciate large or unforeseen variances.
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Solution 105’s BVAR™ reports are developed monthly for hundreds of sites to identify budget deviations, the reasons for these deviations, and the usage and cost re-forecast to the end of the fiscal period. The on-going reports allow you to:
- identify changes to monthly cash flow budgets as early as possible
- re-forecast to the end of fiscal periods to ensure pro-forma income statements are always up-to-date and reflect the most recent changes
- report consistently across a portfolio of sites
How does this benefit you?
Operations personnel:
- know exactly how the site’s usage has been affected by weather
- identify the effect of operational changes
- have consistent and immediate access to the status of your budgets
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Management personnel:
- save time and money for those responsible for creating budgets and reporting on variances
- standard reporting and ‘at-your-fingertips’ knowledge of performance against budgeted values, across the entire portfolio
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Using Solution 105’s Budget Creation and BVAR™ services ensures detailed, bottom-up, consistent reporting of budgets and budget deviations, increasing the satisfaction of tenants, auditors, and shareholders.
Call 1-866-466-4774
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