How to Read Your Monthly Report
A Practical Guide to the Key Reports (What to Look For)
Each report in the monthly pack serves a specific purpose. Understanding what to look for makes reviews faster and more effective.
1) Management Report Dashboard
What it is:
A summary page showing what reports are included for the month.
What to check:
- correct reporting month
- which reports are available
- completeness of the pack
Why it matters:
Start here before analysing anything else.
2) Income Statement
What it shows:
Financial performance for the month and year-to-date vs budget.
What to look for:
- levy income raised correctly
- budget vs actual variances
- expenses missing or unexpectedly high/low
- surplus or deficit
Important note:
“Actual” reflects what was raised, not necessarily what has been collected.
3) Balance Sheet
What it shows:
The scheme’s financial position (assets vs liabilities).
What to look for:
- bank balances
- arrear debtors
- creditors and accruals
- insurance claim accounts
Important insight:
Retained income ≠ cash in the bank.
4) Levy Roll
What it shows:
Unit-by-unit financial activity.
What to look for:
- arrears and top debtors
- advance payments
- unusual utility charges
- penalties and interest
- billing anomalies
Key insight:
It’s not just for arrears – it’s a diagnostic tool.
5) Creditor Transactions
What it shows:
Invoices captured and paid during the month.
What to look for:
- supplier details
- invoice accuracy
- correct allocation
- supporting documents available via the paperclip icon
Why it matters:
Ensures transparency and correct expense allocation.
6) Creditors List
What it shows:
All unpaid supplier invoices.
What to look for:
- unpaid suppliers
- age of outstanding amounts
- valid reasons for non-payment
7) Breakdown of “Other”
What it shows:
Details behind the “Other” column on the Levy Roll.
What to look for:
- once-off charges
- insurance excesses
- unusual entries
Key insight:
Never ignore “Other” – it contains important detail.
8) Utility Reports (Critical Risk Area)
Electricity Exception Report
Flags unusually low consumption.
Zero Utility Report
Flags units with zero usage over multiple months.
What to look for:
- faulty meters
- vacant units
- possible tampering
- billing issues
Low usage can be just as important as high usage.
9) 10-Year Maintenance Plan
What it shows:
Long-term maintenance planning.
What to look for:
- planned vs actual spending
- timing of projects
- sustainability of funding
Key Takeaway
Each report answers a different question – together, they tell the full financial story of the scheme.