The factsheet provides general information on the committee position of ‘Treasurer’.
Who is the Treasurer?
Generally, the treasurer works with the body corporate manager to produce a budget to present to the body corporate for approval at the annual general meeting. This may involve the building manager and other members of the strata committee.
In most bodies corporate, the general functions of the Treasurer are delegated to the appointed body corporate manager.
What are the Treasurer’s responsibilities?
The treasurer’s duties include
- notifying owners to levy contributions,
- keeping accounting records and preparing the financial statements,
- managing money paid to the body corporate
- preparing the information required for any strata certificate.
A treasurer may prepare budgets, manage funds and prepare levy notices, although the legislation does not require them to.
In most bodies corporate, the general functions of the Treasurer are delegated to the appointed body corporate manager.
What happens if my Body Corporate does not want to take on the responsibility of a Treasurer?
The Treasurer’s duties and responsibilities can be discharged in part by the appointment of a Body Corporate Manager.
If you have a Body Corporate Manager, many of your duties may be undertaken by them and the specific duties will be outlined in your agreement with the Manager.
It is important to note the Body Corporate Manager is not in charge, they are engaged by the Body Corporate and work under instruction from the Committee.
