MGRE Accounting and Financial Management

Meticulous attention to financial stability is essential to any property's ongoing operation. Under the supervision of MGRE Chief Financial Officer and Controller Cynthia Dubensky, CPA, MGRE's Accounting Department, including our staff of professional, experienced full-charge residential management bookkeepers, computer operators, and accounting administrative support staff, provide accurate, on-time accounting and financial management services to all our client properties.

At MGRE, there is never any co-mingling of client accounts. All of MGRE's accounting and financial management services are performed under a scrupulous, three-tier system of checks and balances that guarantees absolutely honest oversight and administration of each client property's finances.

MGRE's Accounting and Financial Management services include:

Computerized accounting and bookkeeping systems that provides comprehensive, easy-to-read monthly Financial Reports guaranteed to be delivered to the Board by the 15th of each month and including Accounts Receivable/Accounts Payable analyses, Cash Receipts, Cash Disbursements, ongoing Budget and Year-To-Date activity reports, and itemized and Aged Accounts/Arrears schedules

• Immediate deposit into client accounts, and immediate posting, of all accounts receivable

• Administration of all owner/resident maintenance/common charge/rent accounts, and delivery of all maintenance/common charge/rent bills no later than the 27th day of every month

• Ongoing review of staff, supplies, insurance, and professional services to ensure the highest quality products and services at the most favorable cost

• Bulk purchasing discounts on fuel, supplies, insurance, and legal fees

• Investment advice and investment account administration

• Maintenance and reporting of DHCR Programs, including Senior Citizens Rent Increase Exemption Program (SCRIE), MBR's, fuel cost pass-alongs, and labor cost pass-alongs

• Coordination and assistance with J-51 tax abatements, major capital improvement rent passalongs, and real estate tax reduction proceedings

• Ongoing productive communication with each client property's outside accounting professional(s)