Laserfiche WebLink
The reports indicated by a (*) shall be provided to the Owner monthly. <br /> <br /> a. Development Rent Roll <br /> * b. Monthly Operating Statement <br /> * c. List of Operating Disbursements <br /> * d. List of Operating Payables <br /> e. L}st of Security Account Disbursement <br /> f. List of Security Account Payables <br /> g. List of Resident Receivables <br /> * h. Comparison to Budget Report <br /> * i. Resident Manager Monthly Activity Report <br /> j. Monthly Vacancy Report <br /> k. Delinquency Report <br /> <br /> All reports shall be in a format approved by the City and CHFA with <br />imput from the Owner and Agent. <br /> <br /> 5. Insofar as it is possible to do so, basic accounting and record <br />keeping will be done on a modified cash basis. All necessary forms and <br />vouchers shall be originated by Agent. Bank reconciliations, payrolls and <br />project budget will be prepared and kept at the Agent's office, along with the <br />records for the replacement reserves, annual audits, taxes, insurance, <br />inspection reports, res~ident files and maintenance reports. <br /> <br /> 6. All accounts Will be kept in a depository insured by FDIC. The <br />accounts will be as follows: <br /> <br /> a. Operating Account <br /> b. Security Deposit Account <br /> c. Reserve for Replacement Account <br /> <br /> 7. Agent shall ~ollect all rents, charges and security deposits and issue <br />receipts when collected. The "Pegboard" system can be used for entering <br />payment on the resident's ledger card and income journal. Deposits to the <br />project's Operating Account and Security Deposit Account will be made daily or <br />upon receipt. <br /> <br /> 8. Security Deposits shall be collected from tenants in accordance with <br />the tenant leases. Security deposits will be kept in an interest-bearing <br />account, separate from all other project funds. When the tenant vacates a <br />unit, the tenant's security deposit, not to exceed the passbook savings rate, <br />shall be refunded, minus unpaid rent, cleaning and/or damages beyond normal <br />wear and tear. All refunds due the tenant at the termination of the tenancy <br />shall be paid within fourteen (14) days after the tenant vacates. If a portion <br />of security deposit is withheld, a statement shall be furnished showing a <br />breakdown of the charges in accordance with State law. <br /> <br /> 9. A purchase order system shall be used to document all expenses, except <br />for those ongoing approved contracts and expenses incurred on a regular basis, <br /> <br />18:Mgmtplan. EHI 7 rev 10/27/89 <br /> <br /> <br />