Comparative Study of 1996 Operating Costs
Summer 1996

The Comparative Study of 1996 Operating Costs -- replete with significant data on close to 700 cooperatives and condominiums -- was recently sent to all CNYC member cooperatives and condominiums and to professionals affiliated with CNYC. This annual analysis provides a framework to help you decide if your own building is operating economically and efficiently, by studying the various costs of operating a building. Code numbers are used to identify the participants, preserving the anonymity of individual cooperatives and condos.

The Comparative Study looks at assessment and mortgage figures and also lists the maintenance cost. It then determines amounts spent per room on wages, fuel, utilities, repairs and maintenance, insurance, management costs, administrative costs, water and sewer fees, property tax, and debt service. When possible, elevator maintenance and legal and accounting costs are each listed separately. The Study also presents summary statistics, calculating the averages and medians for each item, and the average portion of total operating budget devoted to each category.

CNYC is already working to compile the 1997 Comparative Study. YOUR 1997 financial statement is important to the Comparative Study. Please forward your annual financial statement as soon as it is ready, so that your data can be included. If this is the first time that you will be participating in the Comparative Study, please include a room count for your building.

When the Study is sent to members and subscribers, buildings that have contributed are advised of their code numbers so that they can find their statistics. Each member building will receive its own copy of the Comparative Study. Additional copies can be purchased from CNYC for $5.