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FINANCIAL MANAGEMENTWe present a list of basic financial management activities deemed as necessary for proper management of a well-run ship. - Credit Card Control Issuance of credit cards for international operational expenses. Constantly monitor, control, and properly record spending. Verify balance, preliminary audit of settlements. - Bill Payment Prompt payment of operating expenses, through international waters and at home port. Liaison with international banking correspondents. - Petty Cash Control Authorize, replenish, record and audit ship's petty cash fund. Supervise to insure currency is on hand suitable for each country on itinerary. Oversee yacht's sea chest supply, revenue balances and replenishments. - Crew Payroll Complete calculation and distribution allowing for deductions and remittances according to nationality/country requirements. - Ship's Safe Account for corporate reserve and for each owner's or guest's reserves on hand. Verify distribution and balances. - Shareholders Reserves Cash accounting statements for each partner's expenditures and responsibilities. Balance bank statements and conduct replenishment in accordance with corporate charter. - Maintain Capital Reserves Account for and replenish yacht reserves per charter requirements. - Private Jet Membership Maintain each partner's account balances of distributions and follow replenishment. Coordinate back-to-back transport and expense allocations. - Monthly / Annual Shareholders Report Review, audit and report to shareholders in compliance with corporate charter. - Annual Budgeting Fiscal forecasts of upcoming expenditures, maintenance schedules. Prepare shareholder presentations and record motions and approvals. - Repatriation Reserves Retain crew repatriation reserves, records, balance and approve distributions and advances. - Insurance Yacht Insurance. Audit and insure yacht/asset insurance policies are maintained at specified levels, coverage corresponds with yacht activities and liabilities have proper coverage. Crew Medical Insurance. Maintain, renew as appropriate. - Yacht Charter Revenues Maintain a separate accounting for charter operations. Record and allocate charter revenues received and expenses incurred relating to charter operations. - Chandlery, Pantry, Expendable Supplies Assist chef/purser control inventory of pantry, bar stock, supplies, storeroom, and, if required, assist replenishment, . At the end of the day, the question that always needs to be answered "Where did the money go?" A question many busy captains would rather not have to answer. Our support responsibilities are carefully tailored to suit the requirements of both the corporate
owners and work in harmonious liaison with the captain. An Absolute NecessityOn-Line Calendar. A vital necessity for partners and guests to easily access status of yacht availability, location and itinerary. Questions and communications to allow easy reservation scheduling, changes or cancellations, and answering the multitude of shipboard questions at all times for all concerned. CHARTER BUSINESS CONSULTATIONWe provide analysis of the charter industry, detailing in particular the current operation with actual facts and figures based upon the type and size of vessel under consideration
Important considerations developing charter services. |
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