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New Life Management Services Inc.
Every housing co-op is diverse and each has its own unique community
vision, fiscal goals and governance policies. At New Life, we design our
services around the way your housing co-op operates. This is
accomplished via sound management, impeccable accounting practices
and transparent administrative systems. We carefully evaluate your
needs and expected outcomes, and then structure the type of
management systems that best suit your co-op’s current requirements,
future priorities and history.
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Our Mission is Your Mission.
Does your Co-op need to rethink its management model?
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At different stages in the life of your co-
op, the board and membership will
have to rethink the management model
it uses. You may want to review your
management model because:
ü It's time to tender your current
management contract and start
anew;
ü Your manager/ coordinator has
resigned; and/or
ü Things at the co-op have
changed, and the choices you
made in the past do not fit with
what is happening in the co-op
now - or in the future.
Every housing co-op is diverse and
each has its own unique community
vision, fiscal goals and governance
policies. At New Life, we design our
services around the way your housing
co-op operates. This is accomplished
via sound management, impeccable
accounting practices and transparent
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administrative systems. We carefully
evaluate your needs and expected
outcomes, and then structure the type
of management systems that best suit
your co-op’s current requirements,
future priorities and history.
The goal is to breathe “new life” into
your co-op in order to ensure that the
community vision set forth by your
board of directors and membership has
the right management-model to
support your day-to-day needs - as
well as provides the sustainability for a
healthy future.
At New Life Management Services Inc.
- our mission is to give you peace-of-
mind and relieve the worries associated
with the complexity of community
housing. We will support your board
and carry out their requests by
simplifying the day-to-day operations
with sound and accurate management.
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New Life Management partners
with Co-ops to provide best-in-
class management services.
ü Ensuring the day-to-day needs of your Co-op are being managed
ü Providing a level of service that doesn’t cut corners or loses sight of
values
ü Being flexible in times of change without compromising your vision
ü Sustaining viability well into the future by planning ahead
ü Providing efficient management services that promote harmony
ü Developing relationships and engaging members with a can-do attitude
A variety of co-ops call for a variety of
services.
Unique needs call for unique solutions. We know you think outside of the box
and that is why our services are flexible to your needs. In short, we change as
your co-op changes - and the only thing that stays the same is our can-do
attitude and personal touch.
As your co-op evolves we can provide customized services to meet your
changing needs
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On Site
Coordination
Our knowledgeable and
friendly on-site
coordinators are trained
to tackle any
administrative tasks
they come across, no
matter how big or how
small your co-op is.
Our coordinators will be
your front-line staff in
communicating with
members, the board of
directors, and numerous
committees.
They are there to help
your community run
like a "well-oiled”
business and a “well-
managed” household.
Management: Administration
Our professional coordinators provide housing cooperatives with on-
site office coordination that includes processing all internal and
external office communications via phone, voice-mail, mail, email
and in person. Each coop will be provided with set day office hours,
and flexible evening hours negotiated with the Board of Directors.
Management: Corporate
Corporate level management includes maintaining all corporate
documents and annual filings, share register, and register of
Directors. This includes carrying our directions from the Board of
Directors, and maintaining all minute files per coop requirements.
This includes attendance of Board of Directors meetings, as well as
Budget and AGMs. Additional options include chairing meetings,
and recording minutes.
Systematization/ Organization
This service includes preparation of monthly management reports,
assisting Board of Directors with planning and goal setting. Coops
will be provided with assistance in maintaining wait-lists,
maintenance record filing, and work orders. Organization includes,
but is not limited to, maintaining Board and member manuals, as
well as creation and maintenance of annual member surveys.
Membership Management
Membership management includes processing applications, and
verifying qualifications based on your coop's policy. This includes
assistance with wait-list, performing credit checks and verifying
income. Assurance that your coop adheres to PIPA regulations is our
top priority, as well as performing accurate share
reconciliations. Move-in-move-out inspections can be added to your
membership maintenance package for an additional fee.
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Systemized
Management
We Keep your Co-op Running Smoothly
We understand the importance of organization and systemization
for a smooth operation.
New Life Management Services Inc. creates a unique annual tasks
calendar that includes key dates such as subsidy reviews, property
taxes assessments, meetings, budget and audit work, to name a few.
An overview of accounts receivable, payables, and work orders are
also included and tracked on a weekly basis.
Rest assured that we will make sure to not only pay your bills on
time, but most importantly collect housing charges on time.
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Full Cycle
Accounting
Your finances will be
managed under the
guidance and oversight
of our CEO, and
Founder, who is an
experienced CPA, CMA
(Chartered Professional
Accountant).
You can be rest assured
that your co-op will
always be provided
with the highest level of
full-cycle accounting
service that meets the
strictest standards and
internal controls.
Accounting & Financial Reporting
Our qualified and professionally trained accountants will assist you
with budget preparation, and provide the Board of Directors with
complete up to date financial statements on a monthly basis. We will
perform annual subsidy reviews as per your coop's policy, collect
housing charges and process annual Home Owners Grants and
property taxes.
New Life Management Services Inc. will provide payroll services for
your employees. We will monitor and report on any arrears, and
maintain accurate and up to date accounting records that are in
compliance with not-for-profit accounting standards and meet
CMHC requirements. You will also always be provided with a
monthly back-up copy of your accounting books to be stored on your
computer.
Monthly Financial Statements include, but are not limited to:
• Statement of Cash Flows and Cash Flows Forecast
• Statement of Financial Position
• Statement of Income vs. Budget Performance
• Subsidy Surplus Fund and Subsidy Used Statement
• Replacement Reserve Expenses report
Additional statements available upon request include, but are not
limited to: cheque register and bank reconciliations and member
arrears report.
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Statement of Cash Flows
Cash is “King” and for a housing co-op cash is absolutely everything.
In order to make key decisions your Board of Directors needs to
know whether you are able to afford them.
As such, New Life Management Services Inc. provides you with a
cash flow statement snapshot of your begging cash balance, changes
in cash, and ending cash balance for the period.
Cash Flow Forecast
We even take it a step further and can provide you with a cash
forecast; meaning that you will be able to estimate how much cash
you will have 30, 60 or even 90 days from now based on current
receivables, payables, and projected expenses and/or capital
expenditures.
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Full Cycle
Accounting
Sample
Reports
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Full Cycle
Accounting
Sample
Reports
Statement of Financial Position
One of the key statements use to make
strategic decisions by the Board of
Directors is the Statement of Financial
Position, which presents the financial
position of the your Co-op at a given
date.
It is comprised of three main
components: Assets, liabilities and
equity.
The Statement of Financial Position
helps the Board of Directors to assess
the financial soundness of the Co-op in
terms of liquidity risk, financial risk,
credit risk and business risk.
To guide the Board in the analysis
process, our financial/ management
reports will always indicate whether
there is a change in risk to the Co-op.
3%
47%
3%
36%
11%
Statement of Financial Position
Current Assets
Long Term Assets
Current Liabilities
Long Term Liabilities
Equity
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Full Cycle
Accounting
Sample
Reports
Statement of Income vs. Budget Performance
New Life Management Services Inc. will aid your Co-op in the
development of your annual budget and will provide you with a
Statement of Income versus Budget.
This statement is key on providing monthly Income vs. Expenses
comparison in order to ensure that your Co-op is on track. We will
also bring forth any over or under expenditures and/or revenues.
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Full Cycle
Accounting
Sample
Reports
Subsidy Surplus Fund and Subsidy Used Statement
New Life Management Services Inc. will provide your Co-op with
monthly Subsidy Surplus Fund and Subsidy Used Statements.
These will ensure that your Co-op adheres to CMHC subsidy
surplus requirements, as well as have valuable information to help
make key decisions regarding RGI % and subsidy policies for
future budgets.
Each report will be accompanies by a summarized explanation to
help your Board of Directors make well informed via fully
transparent information.
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Maintenance
Coordination
We understand the
importance of speedy,
effective, and reliable
maintenance.
Maintenance issues
affect your bottom line,
and the prosperity and
longevity of your
homes. This is why we
take careful measures to
solve a problem before it
becomes a crisis.
Our maintenance
coordination software
will provide you not
only with maintenance
reports, but also with
statistical data to help
make strategic decisions
for the future direction
of your co-op.
Maintenance Coordination
Maintenance coordination includes the set-up of a fully integrated
maintenance system that records work orders, processes work
orders, generated purchase orders for vendors and sends work
orders to person/company for completion. We will monitor work
orders processed and follow-up with members on any required
charge-backs.
Your coop will be provided with an annual maintenance calendar,
and we will review your co-op's maintenance policy and make
recommendation to the Board of Directors if needed. Maintenance
coordination includes the creation and recording of replacement
reserve expenditures, preferred trades list, and preventative
maintenance calendar. We will arrange for move-out and move-in
inspections as per co-op policy.
We will create a program to monitor all warranties on project work
for the duration of the warranty and coordinate approval of work as
required with the Agency for Cooperative Housing Relationship
Manager, as well as assist you with the development of your Asset
Management Plan.
Maintenance coordination, also includes financial reports on:
• Work Orders Requested;
• Work Orders Status;
• Member Charge-back Invoices report;
• Purchase Orders report;
• Repairs & Maintenance Expenses report; and
• Transactions list by Vendor.
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Maintenance
Coordination
Sample
Reports
Repairs and Maintenance Report
This monthly report provides an overview of expenditures and
member chargebacks based on vendor invoices and allocated based
on units serviced.
Purchase Orders for All Vendors
This report provides accurate tracking of purchase orders for repairs
and maintenance, as well as replacement reserve expenditures
allocated to units serviced.
Transaction List by Vendor
Provides detailed listing of work orders, purchase orders and invoice
by vendor.
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Additional: Optional Services
We have a custom solution to meet your needs!
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Cloud Document Storage
We would like to help your
coop minimize its carbon
footprint and reduce clutter. As
such, we are offering to upload
all of your key documents onto
a cloud storage system.
Depending on the type of
document and to adhere to
PIPA restrictions your Board of
Directors, Treasurer, and
general membership will be
provided different levels of
access. This is an additional
service that includes an set-up
fee and monthly monitoring
charges. Rest assured that your
coop's documents will always
be secured and just a click
away.
On-Site Accounting System
Set-Up
We know the importance of
record keeping, and for ease of
convenience we offer on-site
accounting system set-up for a
one-time discounted fee. This
ensures that your books are
kept on site as per registry
requirements. Even though you
will always be provided with a
back-up copy of your
accounting books for your
computers, having a software to
access it provides that extra step
of convenience.
Vacancy Marketing
For those coops that would like
a have a “higher profile" when
it comes to filling in vacancies,
New Life Management Services
Inc. provides a full Vacancy
Marketing service that includes
advertising vacancies on
preferred media channels, and
conducting interviews. To
provide extra assurance to new
members, in addition to
standard income verifications
and credit checks, New Life
Management Services Inc. will
also conduct landlord and
reference checks on behalf of
your coop.
Customized Services
Do you have something more specific in mind? No Problem... We can help you with that too... Just ask!
New Life Management Services Inc. will create a custom package that best meets your coop's needs now
and in the future.
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Larisa Gorodetsky, BBA, CPA, CMA
Chief Executive Officer, Founder
Larisa has spent the majority of her life, living and actively participating in the coop sector.
She has firsthand experience dealing with all aspect of a housing coop – at the membership
level, the board level and the strategic planning level. She is a former professional tennis
player whose core values are a commitment to excellence and a systemized approach to
achieving goals. Larisa holds three academic honors:
• Diploma in Accounting
• Bachelor of Business Administration (BBA) in Accounting with distinction
• Chartered Professional Accountant with a focus on Managerial Accounting (CPA,
CMA)
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Other achievements include:
• 3-time World Champion of International Undergraduate CaseIT Business Case
Competitions
• Recipient of two scholarships from Kwantlen University Business Alumni and
Accountants Society of BC.
• Graduated with Distinction and was elected Valedictorian of her graduating class.
larisa@newlifemgt.com
Patricia (Trish) Kavanagh
Director, Client Services
Patricia (Trish) has lived and actively participated in the coop sector since 1987. She has
firsthand experience dealing with all aspect of a housing coop – at the membership level, the
board level and the management level. Trish has always been extensively involved in her
housing coops, first at Sunset Point and now at Granville Gardens. Over the years she has
held various positions on numerous committees and the Board - including President/Chair
of the Board, Chair of Membership, Chair of Maintenance, as well as actively contributed to
the Finance committee particularly in the aspect of replacement reserve planning, and on
the Social committee in planning well-attended events.
trish@newlifemgt.com
OUR TEAM
New Life Management Services Inc. provides dependable, sustainable and impeccable management services to housing co-ops.
@newlifemgt
Our Mission is your Mission…
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5-1280 Horseshoe Way, Richmond, BC, V7A 4V5
www.newlifemgt.com
info@newlifemgt.com
604.786.7621
