Financial Reports
This report shows what the ROC owns, owes, and has saved at a specific moment in time.
What is the Balance Sheet?
This account is used to pay for everyday expenses like utilities and landscaping.
What is the Operating Account?
The board sees a sudden increase in the trash bill—what should they ask about?
What is "Did something change in the service or rate?"
You’re in a Board meeting. What’s a good question to ask when reviewing budget variances?
What is "Why?" or “Why did this number go up or down?”
This financial ratio helps a lender know if you can afford your loan.
What is the Debt Service Coverage Ratio (DSCR)?
This report tells you if the ROC made or lost money over a certain time period.
What is the Income Statement?
This Financial statement shows rent that members still need to pay.
What is Accounts Receivable?
You notice the reserve account is going down—what might that mean?
What is “We’re spending reserve funds on capital projects”?
A replacement reserve account balance should do this over time, unless money is being spent.
What is increase?
If the loan payment stays the same, but ROC income goes down, what ratio could suffer?
What is the DSCR (Debt Service Coverage Ratio)?
This report helps the board know how much rent is still unpaid.
What is the Accounts Receivable Report?
This term describes when the ROC earns more money than it spends in a month.
What is a surplus?
If a member paid rent for June and July but it’s still May, this money is called what?
What is prepaid rent?
You see that fewer people owe rent this month than last—what might that mean?
What is “Collections improved or more residents paid on time”?
You’re asked to explain why expenses were higher than expected. What’s a good response?
What is “We had unplanned repairs or seasonal cost changes”?
This lender-provided report shows how much is still owed on the ROC’s loan.
What is the Loan Statement?
If the ROC hires someone to fix a water line and doesn't pay the invoice promptly, the unpaid bill is added to this.
What is Accounts Payable?
If you see a $1,000 difference between budgeted and actual costs, that’s called a...
What is a budget variance?
If vendor bills aren’t paid, what might happen to those services?
What are late fees or service delays?
If you notice that more and more capital projects are being delayed, what should the board discuss?
What is “Do we need to adjust our reserve plan or timeline?” or "Do we need to hire a project manager to keep us in compliance with our Capital Improvement Plan?"
This report compares what the ROC planned to spend with what it actually spent.
What is the Budget-to-Actual Report?
This financial term refers to big projects such as paving roads or replacing sewer lines.
What is a capital improvement?
Your ROC ended with a surplus last year—what’s a smart next step?
What is saving or transferring some of it to reserves?
The board wants to track how spending changes from season to season. What statement should they look at?
What is the Income Statement or Budget-to-Actual trends?
After reviewing the budget-to-actuals, you realize the ROC is consistently over budget—what’s one step to take?
What is revising the budget or cutting back on non-essential costs?