2003 Dec
2003 Dec Vol. 23, No. 12
Focus on...Financial Strategies
Tips About Tipping
New York is an expensive town - on that point there can be little debate. Regardless of your means, the holiday season compounds the issue: there are gifts to be bought, travel accommodations to be booked, parties to attend, inclement weather to worry about"¦ and the anxiety that many of us feel when we try to figure out what kind of tip to give the people who (hopefully) make our everyday life a little easier: our building staff. Read More
Home for the Holidays
As the holiday season gathers steam, there may be quite a few of us procrastinating about decorating our living and workspaces. Decorating for the holidays - that time-honored tradition across so many cultures and faiths - can seem like a chore, what with all the things we have to think about this time of year. And while we can't really make the season less hectic, there are a few things to consider that might give you some inspiration and maybe ease the pace a bit. Read More
Painting the Town Green
Did you know that every time you flush the toilet, you use around six gallons of water? Or that compact fluorescent light bulbs use nearly 75 percent less energy than incandescent bulbs and cost far less, too? Read More
Fraud Prevention
With all of the negative headlines involving multi-national corporations over the past few years, fraud has been elevated to the forefront of financial topics. This is the theme of a new accounting pronouncement that becomes effective this year. As a result, you can expect to see some fairly substantial changes in the way your accountant performs your building's audit. Read More
Check it at the Door
It's comforting to know that there's someone responsible and accountable at your door to receive your packages and hold them for you in a safe place, but since 2001, it may give you even more peace of mind to know that your building staff is also on the lookout for anything suspicious or possibly dangerous that might arrive amongst the influx of holiday mail and packages. Read More
On The Waterfront
Cobble Hill, Brooklyn has undergone a tremendous transformation from its days as a waterfront marketplace. The commercial makeover of Smith Street has transformed the locale into a thoroughfare of popular restaurants and today, it's considered the destination where young professional couples can buy more affordable historic homes and raise their families. Read More
Going Green to Save Green
Solar powered panels dotting rooftops. Recycled waste water replenishing toilets. Geothermal heat pumps for heating and cooling. Filtered fresh air into apartments. What's next? Sheep grazing in the Sheep Meadow? Read More
The Big Payback
It's hard enough balancing our own personal budgets without having to worry about an entire city's bottom line. But that's exactly what New York City Mayor Michael Bloomberg asked property owners to do last year when he sought a tax hike of nearly 25 percent to cover budget shortfalls. Read More
Trimming the Bottom Line
With increasing costs for heating fuel, insurance, real estate taxes and the like taking a bite out of the operating budget of most every co-op and condo in the city, some cost saving measures can help stem the tide of rising costs. Payroll can be trimmed, taxes protested, and expenses monitored and with some effort, significant results can be achieved. Don't assume that there is nothing you can do about your board's expenses. The key to good management is to look at every single expense. Read More
On the Straight and Narrow
In the unfortunate and troubling event that you suspect incompetent - or even criminal - behavior regarding your building finances, an accountant or a certified fraud examiner can forensically investigate the issue to determine whether or not mismanagement or possibly criminal wrongdoing is present. The question of whether or not a fully certified fraud examiner should be brought in depends upon the amount of damage, what kind of legal action will be taken, and whether or not losses can be recouped; after that, there remains the task of shoring up your building's defenses against fraud to see that it doesn't happen again. Read More
