The Strata Financials You Should Be Reviewing
When it comes to reviewing a strata’s financials, the first step is to get copies of all the relevant financial documents. To get a good sense of the strata’s financial health over the past two years, we recommend you obtain:
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The current fiscal year budget
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The previous fiscal year budget
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Year end financials (for the last two fiscal years), and
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The most recent monthly financials (ideally within two months old)
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Most stratas, especially if professionally managed, will have monthly financial statement. These will most often include the:
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Balance Sheet, and
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Income Statement
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Reviewing these financial documents will allow you to analyze the strata’s past and current financial positions, as well as changes in various financial metrics, which can provide valuable information about a strata’s financial health.
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