FINANCE: FROM ACQUIRING CAPITAL TO ESTABLISHING BUDGETS TO CREATING PERFORMANCE BENCHMARKS
Money is the fuel that drives a CCRC’s development. However, many developers fail to create budgets that integrate with the early stages of development, which can lead to substandard financial performance, cost overruns and/or a project stopping dead in its tracks. What’s more, many communities find it difficult to achieve the right balance between liquidity and operational performance because they can't adjust their rates or don't have the tools to measure how they're doing.
To help you address these issues and others, The Asbury Group has assembled a team of financial experts who can not only help you create a viable, integrated budget, but make sure it adapts to changes as your project progresses. In addition, we can help you find the capital necessary to launch and sustain your community’s development, thanks to our contacts with banks, underwriters and other financial institutions.
Aside from helping you establish a budget, our experts can also show you how to establish benchmarks – a great tool for keeping track of your financial progress. In order to do that, however, you need good, solid, consistent data – another service we can provide, either through our proprietary technology or by getting the most out of the systems you have in place. The Asbury Group’s financial professionals, all specialists in CCRC’s, can offer priceless insight into the preparation of reports and financial statements, while noting areas of improvement in your overall financial accounting.
Another key aspect of financial performance is having an adequate, market-driven rate structure established from the beginning. Without it, you may not have the funds necessary to keep your CCRC moving ahead, or you could find yourself unprepared to deal with factors beyond your control. Thanks to our many years of experience in this and other aspects of developing CCRC’s, we’re well equipped to help you set competitive rates that will keep your community financially viable.