Guide to Being a Great Treasurer

Introduction

• Speaker: Aaron Jeffery, Community Manager at SSKB
• Focus: Roles and responsibilities of a Treasurer in a body corporate and owners corporation.

Body Corporate and Committee Structure

• New committee elected annually by lot owners.
• Committee responsibilities include:
  • Administrative tasks
  • Day-to-day operations
  • Making decisions on behalf of lot owners
  • Enforcing lawful decisions
• Committee Composition:
  • Executive Members:
    • Chairperson
    • Treasurer
    • Secretary
  • Ordinary Members

Role of the Treasurer

• Importance of the Treasurer's role despite being less visible than others (Secretary, Chairperson).
• Key Duties:
  • Authorizes payment of invoices to creditors.
  • Authorizes remuneration, allowances, or expenses for committee members.
  • Establishes positive relationships with building managers for effective role performance.
  • Reviews draft budget prepared by community manager.
  • Reviews financials for the scheme.
  • Makes decisions regarding the investment of body corporate funds.

What if No Treasurer is Appointed?

• Duties can be partially taken over by a body corporate manager (community manager from SSKB).
• Specific duties of the manager will be outlined in the agreement with the committee.
• Important Note:
  • Strata manager is not in charge; they work under the instructions of the committee.
  • Strata managers can assist or perform duties of the Treasurer but do not have voting rights.

Special Cases

• Small communities without a committee may authorize a body corporate manager to handle all committee functions.
• Larger body corporates can do the same, but this is uncommon.

Conclusion

• For assistance with committee roles, contact SSKB community manager for advice on specific roles and challenges within your scheme.