MGMT315 Marketing

To: Property Managers

From: Nicholas Ceo

Subject: 2016 Projected Budget

Clive Property Managers has had a successful operationalization this year Thanks all for your efforts. As we approach the New Year, I want remind of our last discussion in which we agreed that as the Manager, I should give you the allowance to do your jobs without necessarily micromanaging you but instead sharing and consulting where necessary.

On that note, allow me to bring to your attention the fact that Clive Property Managers has a responsibility to act as a careful manager of the properties under its watch, by ensuring that the available funds are used appropriately in a cost-effective manner that is in line with the core mission of the management. As I have previously shared with you, I must emphasize that wasteful spending is unacceptable and as such, we must strive to be more efficient and effective in our operations. That is, I write to request a written projected budget in Power Point format from each of you so that it can help in planning for our financial expenditures for this coming year. This should be returned to myself before 23 December 2016.

As well all know, the budget making process is one of the significant administrative tools that plays a crucial role towards the achievement of calibrated objectives in the company. The process involves projecting costs, incomes, and resources over a set period of time and as such, it acts as an essential standard for measuring performance, as well as a device for coping with foreseeable adverse situation (Levetin & Monteiro, 2009). Having a budget in place serves the critical role of providing the much-needed assistance towards the creation of standards of performance, and the strategic planning process. That way, it helps in measuring the progress of the organization (Levetin & Monteiro, 2009).

It is therefore, important that we come up with a budget individually so that we all participate in the entire process of creating the overall budget for the company, as that will ensure cooperation from all of us. That will serve essential in our streamlining the process of submitting maintenance work orders and approve spending. Also, the budget shall serve critical in providing our clients with the best possible service as a property management company (Griswold, 2013).

Please note that as you prepare your budgets, remember to outline key policy considerations for which Clive Property Managers is seeking in its operations for the New Year. Your proposed considerations must directly relate to the company’s 5-year business plan that we reviewed at the beginning of the year, as well as they should relate to the potential provisions the Clive may want to consider based on the amount of capital at our disposal.

Note that as the property managers, you are required to send a detailed budget of annual expenses for just one office building, which shall be used for all other buildings. Please, include an analysis and description of all expenses associated with the previously established budget using the property budget information I shared with you to help you in understanding the approximate money we shall need to properly manage our properties.

I look forward to receiving the proposed budgets on time form each one of you. Thank you all for your time and commitment to professionalism.

Sincerely,

The Company Manager

References

Levetin, M., & Monteiro, M. (2009). Property management accounting: A survival guide for non-accountants. Boston, Mass.: Buildium.

Griswold, R. (2013). Property management kit for dummies. Hoboken, N.J: Wiley.