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Topic
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We have a new Executive Committee here at our strata of 42 in NSW. One new member who put her own name forward, was elected and became Treasurer.
Now, unexpectedly, it’s her husband (we assume, he seems to live there) is the name in all the paperwork. This seems odd and not good governance, at the very least.
Should something be done, can anyone tell me please? We also have a Strata Manager.
(This is a bit like another post—husband and wife tag team.)
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Your Owners Corp is quite possibly breaking the law and could be fined up to $550.
Unless the person doing the books has been elected treasurer (strata Act Section 18a), is a delegated strata manager (18b) or appointed by the executive committee to help the treasurer (18c) or is a qualified accountant who has been appointed by the Owners Corp (18d and d1), they shouldn’t be touching your finances.
It’s quite possible that your strata manager actually does all the heavy lifting regarding the finances but this non-elected person is treading on thin ice if they are issuing reports with their name on them.
This is what the Act says:
24 Who can exercise functions relating to the finances and accounts of the owners corporation?
A person must not exercise any of the functions of an owners corporation or the treasurer of an owners corporation relating to the receipt or expenditure of, or the accounting for, money of the owners corporation or the keeping of the books of account of the owners corporation unless the person is:
(a) a member of the owners corporation or of the executive committee and the treasurer of the owners corporation or of the executive committee, or
(b) a strata managing agent who is empowered to exercise that function, or
(c) a person with whom the treasurer of the owners corporation is required by an order of the executive committee to exercise that function jointly, and who is enabling the treasurer to comply with the order, or
(d) a member of CPA Australia, or a member of the Institute of Chartered Accountants in Australia, authorised by the owners corporation to exercise the function, or
(d1) a member of the Institute of Public Accountants authorised by the owners corporation to exercise the function, or
(e) during the initial period only—a person authorised by the original owner to exercise the function.
Maximum penalty: 5 penalty units.
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