Accounting & Finance
The goal of our Accounting Department is to provide meaningful, timely, and accurate information to all relevant stakeholders. Stakeholders include owners, partners, lenders, regulators, and HallKeen staff. We recognize that each has a unique set of needs and requirements. As a result, we tailor our financial reporting and analyses to match a stakeholder’s requirements and to present the information in a clear and concise fashion. HallKeen’s financial reporting systems are currently accessible on-line over the Internet via a secure server.
Most of the Financial Reporting and Analysis prepared by HallKeen is done at our corporate offices in Norwood.
HallKeen’s Accounting Department consists of the following staff:
- Senior Vice President of Operations
- Accounting Manager
- Senior Property Accountants (2)
- Property Accountant
- Accounting Specialists (7)
- Staff Accountant
Property financial records and reporting are maintained on a fully accrued basis throughout the year in accordance with generally accepted accounting principles. As a result, our stakeholders have the most complete financial picture of their properties and we are better prepared to work with outside auditors during the year and for year-end forecasts, tax projections, and audits.
We also prepare, review and analyze budget-to-actual operating results on a monthly basis. Managers play a lead role in developing a property’s Annual Operating Budget and are required to use the approved budget as a roadmap to follow throughout the year. Managers monitor significant budget variances, and where possible, the property operating plan is adjusted to reflect these results to achieve the Owners goals and objectives.
All clients who opt for full-service property management benefit from the vast experience and services of our accounting services. These services can also be performed on an “a-la-carte” basis if a client so chooses.
Services of the Accounting Department include:
- Monthly financial statements to include balance sheet, profit and loss statement, check register, open payables report, accounts receivable report, and reconciled bank statements
- GAAP, Cash or Accrual basis accounting
- Provide year end material to the auditors
- Bill payment and vendor inquiries
- Collect and post rents
- All functions automated to minimize paper use
- Highly skilled staff who can handle complex financial situations
- Commercial accounting to include CAM and other Escalators
