Facilities Management for Australian Property Management Company

This paper discusses the financial management process of Australian Property Management Company and highlights the working of the company on providing a compactor for efficient facility management within the residential buildings. It also covers the areas of improvement for the company based on the analysis of its financial statements, cash flow, and insurance reports.

0Running head: FACILITES MANAGMENT
Table of Contents
Introduction................................................................................................................................1
Managing the Facilities..............................................................................................................1
Areas of Improvement................................................................................................................3
Conclusion..................................................................................................................................4
References..................................................................................................................................5

1FACILITES MANAGMENT
Introduction
Australian Property Management (APM) Company works on retail, high rise
commercials as well as residential buildings. It is passionate about developing consistent and
iconic projects of Melbourne and other parts of Australia which are comparable to that of the
international standards. It always keeps extra cash for purchasing new machineries when
required for quality management of its buildings as well as for effective facility management.
The involvement of the company in terms of its financial assets and liabilities are noteworthy
since it effectively allocates its funds and even accomplish projects on buildings within a
short notice period1. The paper highlights the working of the company on providing a
compactor so that it would be easier for housekeeping staff to ensure efficient facility
management within the residential buildings.
Managing the Facilities
The financial management process of the work team is very vital in case of any
organization. This is because it does not only determine the performance of the organization
in the long run but also how the coordination and corporation between the team
simultaneously get executed to identify the problem in the process of facility management as
well as synchronize them with effective improvement initiatives. Based on periodic
requisition of the owners, developers as well as the operational managers the company
provides reports on a monthly basis and implement asset management strategies for
buildings. There are lots of activities with which the company is allied to can be extensively
shown as:
1Westermann, S., Niblock, S.J. and Kortt, M., 2017. Does it pay to be responsible? An empirical investigation of
corporate social responsibility and REITs in Australia.

2FACILITES MANAGMENT
2
Along with keeping daily inspection of the buildings and remaining abide by its
annual budget the APM Company coordinate, manages as well as repair through essential
maintenance services for safety measure audits. For managing the facilities coordination and
cooperation within all the relevant entities are maintained regarding move in and move outs
within the residential, commercial and retail buildings are executed allowing necessary waste
removal from all the buildings. Effective financial management process in Australian
Property Management (APM) Company is accompanied by appropriate financial planning
and their successful implementation in a procedural manner3. It reviews, monitors as well as
fit out its works in the retail offices as well as recreational areas of residential interest. It
works in a series of stages that is allied with effective manoeuvre which is not dependent
upon any components of the process like the contractors, visitors, tenants, owners, etc. of the
residential buildings. This can be shown as follows:
Initial Discovery meeting -
This stage is the obligation and the cost associated with the executable activities. It is
an opportunity that helps to logically understand the previous financial condition and the
costing associated with the allocated funds. Analysing the financial statements including the
balance sheet cash flow statement as well as the income statement is also necessary to ensure
effective documentation based on the understanding regarding the financial circumstances
which includes the assets, liabilities expenses, profit, superannuation statements, share and
property holdings as well as tax returns.
Strategic development -
It is important to understand the goals objective of the financial management to
optimally utilize the facilities of the residential building and create a contact us so that the
housekeeping staff does not face problem while executive managerial operations. This
requires a realistic pathway and time same base protocols that will guide the operational as
well as financial objective to accomplish successfully2. It is important to protect the future of
the financial investment enhance construction of effective working arrangement based on
Corpus fund allocation as well as utilization to managing the portfolio actively is the need of
the hour for the Australian Property Management Company.
Preparation of the financial plan -
22 Hines, M.A., 2017. International real estate investment. In The Most Important Concepts in Finance. Edward
Elgar Publishing.
3 De Leon, I., Donoso, J.F. and de León, I., 2017. Innovation, Startups and Intellectual Property Management.
Springer.
34 Deresky, H., 2017. International management: Managing across borders and cultures. Pearson Education
India.

3FACILITES MANAGMENT
The complex structure of the industry and the variation in the wants and demands of
target consumers it is important to maintain a location environment through the preparation
of a manageable financial plan by prioritizing it based on executable activities as well as
synchronizing eat with respect to optimal utilization of available finances4. Transparent
understandable as well as straightforward strategize plan regarding all investments and their
returns.
Implementation and Recommendation -
The process of investment in various accounts followed by account consolidation,
manage superannuation rollover, off-market share transfer, established income channels,
insurance applications as well as established super funds, etc. all are dependent upon the
simplification of the complexity associated with the process of the recommended financial
management process. Establishing compactor will enable better functioning by the
housekeeping staffs within the residential buildings and hence the implementation of the
design workflow process is required. It will avoid loopholes or major slip from the target and
will help the Australia property management company to perform optimally5.
Portfolio management -
In the intermediate stages, financial management strategies are required to be
redesigned based on the available opportunities and industrial development this will enhance
the organizational culture and systematize the legislative changes that will optimize the
investment portfolios their superannuation as well as the tax matters. To standardize the
authenticity of relationships between the housekeeping staff and the target consumer base is
effectively important since they will dwell in the residential building after the construction by
the Australian Property Management company.
Areas of Improvement
Efficient field Research as well as understanding the internal consistency helps to
evaluate the financial sustenance and effectiveness of the Australian Property Management
Company. Bank account records, contracts that are undertaken,
insurance reports, taxation records or petty cash receipt are the various set of information that
helps to understand the performance of the company financially. The cash flow of the
company as well as the insurance and the taxation records reveals a clear picture of areas of
improvement that are necessary to be monitored based on the existing process as well as
initiatives undertaken for advantageous facility management6. There is requirement for cross
45 Jacquet, J.B., Witt, K. and Rifkin, W., 2018. A complex adaptive system or just a tangled mess?: Property
rights and shale gas governance in Australia and the US. In Governing Shale Gas (pp. 55-68). Routledge.
5Murphy, L., 2017. Globalising commercial property markets: the development and evolution of the listed
property trust sector in New Zealand. In Globalising Worlds and New Economic Configurations (pp. 89-100).
Routledge.
67 Siskos, I. and Van Wassenhove, L.N., 2017. Synergy management services companies: A new business model
for industrial park operators. Journal of Industrial Ecology, 21(4), pp.802-814.

4FACILITES MANAGMENT
verifying the implemented activities and monitor the agreed improvements on a regular basis.
From the budgets it has been seen that the planned budget and the actual budget differs a lot
as the funds considered for certain activities are not appropriate. Specifically there is
enormous difference in the expenses upon administrative activities7. The audit services are
presumed to be held at the cost of 1500 $ though it have cost to be $ 7000. The bank charges
on administration was considered to be $ 150 whereas the actual expenses is $35. However,
the telephonic charges for fire phone line, office and that of the security system is higher than
the proposed expenses yet the income tax returns are same at $330. The essential services for
general repairs are proposed to be higher at $ 18,655 though the actual expenses are $2154 by
2017-18 and 2500 $ by 2018-19. But the maintenance services and fire protection were
accompanied by increased spending at $ 10,200 though it was proposed to be $1500 only.
From the cash flow data this are being found that cash are available but appropriate allocation
of it was left over that led to deficit carried forward from previous years. Notably in the
contracts considered for cleaning purpose in the main building are considered less at $24000
while the cost incurable is $183974 as forecasted. So review of the contracts and also the
insurance schemes are highly necessary as perceived from the bank account records,
maintenance schemes and insurance reports8.
Conclusion
There exist high necessity to control the flow of cash and maintain the financial
transaction close to the prosed budget. The monitor the expenses that takes place upon
unavoidable situational turmoil should be backed with financial risk management initiatives.
The recoverable insurance claims requires cross examination with the existing records and
the investments done upon fire, electricity and main building repairs should be sufficiently
funded to cope up with uncertainty and maintaining common residential safety for the long
run.
78 Turner, M.J., Way, S.A., Hodari, D. and Witteman, W., 2017. Hotel property performance: The role of
strategic management accounting. International Journal of Hospitality Management, 63, pp.33-43.
8

5FACILITES MANAGMENT
References
De Leon, I., Donoso, J.F. and de León, I., 2017. Innovation, Startups and Intellectual
Property Management. Springer.
Deresky, H., 2017. International management: Managing across borders and cultures.
Pearson Education India.
Hines, M.A., 2017. International real estate investment. In The Most Important Concepts in
Finance. Edward Elgar Publishing.
Jacquet, J.B., Witt, K. and Rifkin, W., 2018. A complex adaptive system or just a tangled
mess?: Property rights and shale gas governance in Australia and the US.
In Governing Shale Gas (pp. 55-68). Routledge.
Murphy, L., 2017. Globalising commercial property markets: the development and evolution
of the listed property trust sector in New Zealand. In Globalising Worlds and New
Economic Configurations (pp. 89-100). Routledge.
Siskos, I. and Van Wassenhove, L.N., 2017. Synergy management services companies: A
new business model for industrial park operators. Journal of Industrial
Ecology, 21(4), pp.802-814.
Turner, M.J., Way, S.A., Hodari, D. and Witteman, W., 2017. Hotel property performance:
The role of strategic management accounting. International Journal of Hospitality
Management, 63, pp.33-43.
Westermann, S., Niblock, S.J. and Kortt, M., 2017. Does it pay to be responsible? An
empirical investigation of corporate social responsibility and REITs in Australia.