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Bank Account

  • Open and maintain bank account
  • Manage Administrative and Sinking Funds of the Body corporate
  • Seek instructions from the Committee regarding Term Deposits and investments and carry out instructions accordingly

Financial Statements

  • Prepare Quarterly accrued Financial Statements for the Committee (or as required)
  • Prepare Year End Financial Statements for presentation at the Budget Committee Meeting

Budgeting

  • Prepare a draft Administrative Fund Budget for consideration by the Committee
  • Refer to the Sinking Fund Forecast Report and supply the Committee with the necessary information to consider a Sinking Fund Budget and review planned expenditure
  • Deal with all correspondence and communication from Owners regarding the preparation and adoption of Administrative Fund and Sinking Fund Budgets
FINANCIAL SERVICES

Bank Reconciliations

  • Conduct daily Bank Reconciliations

Body Corporate Levies

  • Prepare and issue levy notices to all owners in accordance with the minutes of the Annual General Meeting
  • Receipt and bank levies
  • Issue 1st, 2nd and 3rd Reminder Notices to recover levies in arrears
  • Seek instructions from the Committee regarding debt collection and issue instructions to an appropriate debt collection officer if required (note: all debt collection costs are initially paid for by the body corporate and then recovered from the lot owner in arrears)
  • Deal with all levy queries and communications with lot owners

Accounts Payable

  • Receive, process and pay invoices and accounts on behalf of the body corporate
  • Seek authorisation of invoices where instructed by the Committee
  • Deal with all correspondence and communication from the body corporate and individual contractors (if required) in regards to the payment of accounts