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I found the following article by an accountant on LinkedIN and shared it with the consorcio.
I subscribe to the monthly newsletter by Liga del Consorcista published by lawyers that supply invaluable information to consorcios. [email protected]
CABA Consortium: concern -- observations in the bank summary
by Cynthia Rosio, Public Accountant (UBA)
Concern: the consortium's bank summary shows:
· Amounts listed as paid do not appear in the expense summary.
· Important amounts appear in the administrator's bank account
· There are amounts debited from the account that it is not known who collected them
If the administrator manages transparently, these three situations should not exist. It is assumed that an administrator, representative of a Horizontal Property consortium, is managing other people's money, and since he is managing more than one consortium, he should manage the funds in the bank accounts of third parties, with the best management, and then be able to render accounts without cause concerns or problems with the owners who want to control its management, with the corresponding right.
There are no regulations that say how a horizontal property consortium administrator must manage the bank account of said consortium. The only thing that Law 941 of CABA establishes, in its articles 9 and 10, is that the funds of a consortium must be deposited in a bank account and that the summary of bank account movements must be included in the liquidation of expenses. of the Consortium corresponding to the previous month.
This subsection i) of article 10 of Law 941 is clear and very few administrators comply with it. This article should advise the administrator that all payments must be made through the consortium's bank account, by bank transfer to each supplier or by issuing a check for the expense being paid. Since the summary of bank account movements should respect the payment or collection movements that appear in the expense summary.
If the administrator does not carry out this type of management, the owners should ask him to do so in an assembly so that it is written in the corresponding minutes. Because good management helps the owners of the Council of Owners of said consortium, in accordance with what is established in article 2064, with the attribution of controlling the economic and financial aspects of the consortium. If they do not want to do so, it is the owners' decision to renew their mandate or look for a new administrator.
Since the consortium has a bank account, for each payment to a supplier, the administrator must make the bank transfer or issue a check to that supplier for the amount supported by the corresponding invoice and receipt, whether for the purchase of inputs or for work carried out in the building. And that amount is the one that is reflected in the summary of expenses as a statement of expenses incurred on behalf of the consortium.
On the other hand, the administrator should only transfer the amount of his fees to his bank account, which will be guaranteed by the issuance of the respective invoice.
Keep in mind that an administrator is an agent who has a term in his mandate. That is why it is important, the union of the owners, that if they see that the administrator is not managing him as he should, look for a new administrator, and not generate a renewal of the mandate.
Experiences received from owners when controlling bank statements with expense summaries:
· An administrator transferred the salary to his employee from the consortium account. This was reversed by the owners, since if there is a legal problem with said employee, how is the consortium left with the payments made? These payments do not correspond to those made by the consortium. The employer must pay from his account to his employee.
· An administrator sends the bank statement to an owner every month so that the owner can carry out the respective control. Each bank movement corresponds to an expense reported in the expense summary. What's more, the CUIT to whom the transfer is made appears in the bank summary, which provides excellent control of its entire management.
I subscribe to the monthly newsletter by Liga del Consorcista published by lawyers that supply invaluable information to consorcios. [email protected]
CABA Consortium: concern -- observations in the bank summary
by Cynthia Rosio, Public Accountant (UBA)
Concern: the consortium's bank summary shows:
· Amounts listed as paid do not appear in the expense summary.
· Important amounts appear in the administrator's bank account
· There are amounts debited from the account that it is not known who collected them
If the administrator manages transparently, these three situations should not exist. It is assumed that an administrator, representative of a Horizontal Property consortium, is managing other people's money, and since he is managing more than one consortium, he should manage the funds in the bank accounts of third parties, with the best management, and then be able to render accounts without cause concerns or problems with the owners who want to control its management, with the corresponding right.
There are no regulations that say how a horizontal property consortium administrator must manage the bank account of said consortium. The only thing that Law 941 of CABA establishes, in its articles 9 and 10, is that the funds of a consortium must be deposited in a bank account and that the summary of bank account movements must be included in the liquidation of expenses. of the Consortium corresponding to the previous month.
This subsection i) of article 10 of Law 941 is clear and very few administrators comply with it. This article should advise the administrator that all payments must be made through the consortium's bank account, by bank transfer to each supplier or by issuing a check for the expense being paid. Since the summary of bank account movements should respect the payment or collection movements that appear in the expense summary.
If the administrator does not carry out this type of management, the owners should ask him to do so in an assembly so that it is written in the corresponding minutes. Because good management helps the owners of the Council of Owners of said consortium, in accordance with what is established in article 2064, with the attribution of controlling the economic and financial aspects of the consortium. If they do not want to do so, it is the owners' decision to renew their mandate or look for a new administrator.
Since the consortium has a bank account, for each payment to a supplier, the administrator must make the bank transfer or issue a check to that supplier for the amount supported by the corresponding invoice and receipt, whether for the purchase of inputs or for work carried out in the building. And that amount is the one that is reflected in the summary of expenses as a statement of expenses incurred on behalf of the consortium.
On the other hand, the administrator should only transfer the amount of his fees to his bank account, which will be guaranteed by the issuance of the respective invoice.
Keep in mind that an administrator is an agent who has a term in his mandate. That is why it is important, the union of the owners, that if they see that the administrator is not managing him as he should, look for a new administrator, and not generate a renewal of the mandate.
Experiences received from owners when controlling bank statements with expense summaries:
· An administrator transferred the salary to his employee from the consortium account. This was reversed by the owners, since if there is a legal problem with said employee, how is the consortium left with the payments made? These payments do not correspond to those made by the consortium. The employer must pay from his account to his employee.
· An administrator sends the bank statement to an owner every month so that the owner can carry out the respective control. Each bank movement corresponds to an expense reported in the expense summary. What's more, the CUIT to whom the transfer is made appears in the bank summary, which provides excellent control of its entire management.
