Just check a few things in the condominium budget to avoid bitter surprises

Just check a few things in the condominium budget to avoid bitter surprises
Just check a few things in the condominium budget to avoid bitter surprises

Checking the condominium budget allows you to check if the administrator is administering well or not. To feel calm, just check a few things in the condominium budget to avoid bitter surprises

The budget has become more complex with the reform of the condominium in 2012. The intention was not to complicate the life of the condominiums, but, on the contrary, to allow them to have a clearer and more complete picture. The administrator must obligatorily keep these three documents.

The accounting register is the document in which all the entrances and exits of the condominium must be recorded within 30 days of the operation.

The financial statementinstead, it shows the property situation of the condominium, including credits and debts. The credits can also consist of the shares of the ordinary installments that some condominium has not paid promptly. The debts, on the other hand, can be works already approved, but not yet fully paid.

Finally, the administrator has to fill in the explanatory note of the management. It is a report that must explain the economic relationships in progress and also those pending so that the accounting documents are clearer.

Just check a few things in the condominium budget to avoid bitter surprises

The right of control belongs to all condominiums. Since the assembly must approve the budget and the report, all owners, or tenants, can ask to see any proof of expenditure before the assembly itself.

What to check

First of all, it is necessary to check that each expense has been recorded within the 30-day term given by law. It is necessary to verify that the statement shows an asset or a liability that actually corresponds to the income and expenses. Extraordinary expenses must be exactly those approved at the meeting, for that item and that amount. It is also important to check the balance of the current year with that of the previous year. In fact, if there was a credit balance in the previous year, that money must be immediately carried forward to the beginning of the current year’s budget.

What to do if the accounts don’t add up

The budget can be challenged within 30 days of its approval like any condominium resolution. In the most serious cases, condominiums can ask the judge to appoint an auditor if it is thought that there may even be cheating or fraud.

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