Istanbul Metropolitan Municipality: budget and financial reporting for real estate

Dependable budget and financial reports for real estate

IMM required a dependable and efficient system for generating comprehensive budget and financial reports. Some of the existing processes were time-consuming and lacked the flexibility needed to adapt to the municipality’s dynamic financial landscape.

The Real Estate Branch Directorate at the municipality needed a solution to streamline reporting, ensure accuracy, and provide real-time insights. This was critical due to the management of large real estate assets and complex financial transactions.

The authority that administers Istanbul

Istanbul Metropolitan Municipality (IMM) is the principal authority overseeing the administration of Istanbul, Turkey’s most populous city and economic hub. Established in 1984, IMM manages a wide array of services, including transportation, infrastructure, environmental management, and cultural initiatives, to enhance the quality of life for over 16 million residents.

With a commitment to innovation and efficiency, IMM continually seeks advanced solutions to meet the evolving needs of its diverse population.

Financial reports for the real estate units

Using TURBOARD, the Real Estate Branch Directorate and the Real Estate Management Department at IMM gained the ability to generate critical financial reports that improved their operational efficiency and decision-making. These reports include:

• Revenue and Expenditure Analysis for Inventory, Advertising, and Real Estate, enabling the monitoring of key income-generating assets and operations, such as advertising revenues and real estate income.
• Collection and Accrual Reports, offering a detailed view of cash flow by tracking collected versus accrued funds.
• Projections for Income, Expenditure, and Legal Compliance, supporting financial planning, resource allocation, and tracking the legal status of real estate assets to ensure timely resolution of compliance issues.
• Detailed Budget Allocation Reports, providing insights into budget distribution across municipal operations to ensure efficient resource utilization and alignment with strategic goals.

Direct procurement and integration with EBİS

Recognizing the success of a previous project implemented by TURBOARD at the Presidency of Strategy and Budget, IMM approached TURBOARD for a solution to streamline their budget reporting processes. The collaboration was formalized through a direct procurement by the State Supply Office (DMO in Turkish), ensuring a swift and efficient implementation process.

TURBOARD delivered a customized solution that seamlessly integrates with IMM’s existing systems, particularly their Real Estate Information System (“EBİS” in Turkish), which is developed by Universal Software and used by all employees of the Real Estate Branch Directorate and the Real Estate Management Department.