Roles and Responsibility: Roles And Responsibility Of Chairman, Secretary And Treasurer

HOUSING SOCIETY

Housing refers to houses or buildings collectively; accommodation of people; planning or provision of accommodation by an authority; and related meanings. The social issue is of ensuring that members of society have a home in which to live, whether this is a house, or some other kind of dwellinglodging, or shelter. Committee members play an important role in forming a housing society , Election poll are there  for election of chairman , secretary and treasurer,  which is superior and decision taker, roles are  assign by the committee for three of them.  Many governments have one or more Housing authority , sometimes also called a housing ministry, or housing department.

CHAIRMAN

As Chairperson and indeed as a member of a committee it is vital that we are all aware of the powers and duties associated with the chairperson role.

 

The role may be daunting to some and we hope to provide a little insight into what to expect and how to manage this position.

General duties can include:

  • ·         The necessity to assist if asked by an adjudicator
  • ·         To accept a notice, legal process or other documents
  • ·         The appointment of a proxy for a committee meeting
  • ·         Requirement to seal documents with the body corporate seal

 

Committee meetings provide an important platform for which the Chairperson must oversee and manage proceedings. The role will include:

  • ·         That meetings are held to prepare agenda for the general meeting
  • ·         That restricted matters are not dealt with at committee meetings
  • ·         Knowledge of spending limits and authorizations
  • ·         Chairing the meeting
  • ·         Declaration of quorum
  • ·         Dealing with conflict of interests.
  • ·         In absence of secretary acknowledges receipt of the request for a special meeting

 

What the Chair must know and be prepared to implement is the general role of ensuring that all legalities are acknowledged and that formal proceedings of a general meeting are met.

These may include:

  • ·         Acceptance of committee nominations
  • ·         Knowledge of who can vote
  • ·         Placement of proxies before meeting for admittance
  • ·         Ruling of motions out of order if necessary
  • ·         Provision of reasons for ruling and that they are minuted
  • ·         Acceptance of procedural motions
  • ·         Determination of quorum
  • ·         Acting as the subsidiary scheme representative
  • ·         Acceptance of written voting papers
  • ·         Decision for ballots
  • ·         Declaration of voting results
  • ·         Acceptance of amendments to motions

 

SECRETARY

The duties of the secretary can be varied and below are a number of tasks that may be expected if you hold this position.

  • ·         Arrange time and place for inspection of records
  • ·         Issue Body Corporate information certificates
  • ·         Must assist adjudicator
  • ·         Accept quotes and tenders for proposed major work
  • ·         Provision of documents for audit
  • ·         Arrange insurances
  • ·         Seal documents with Body Corporate seal
  • ·         Call committee meetings
  • ·         Send out notices of meetings
  • ·         Receive objections from members
  • ·         Preparation of meeting notice and agenda
  • ·         Receives completed proxy forms
  • ·         Prepare motion paper for a committee decision taken outside of the meeting
  • ·         Advise owners of committee decisions
  • ·         Ask owners to submit nomination and motions
  • ·         Receive committee nominations and motions
  • ·         Acknowledge receipt of committee nominations
  • ·         Provide copies of meeting notices to all lot owners
  • ·         Composes and circulates the agenda for general meetings
  • ·         Accept written voting papers
  • ·         Accepts proxy forms
  • ·         Provides for inspection the Body Corporate roll, list of persons entitled to vote and all proxy votes and voting papers
  • ·         Takes and distributes minutes

 

TREASURER

As treasurer your role will be to provide and maintain accurate records of all financial transactions relating to the Body Corporate.

Budgets must be set for the administrative fund, the sinking fund and special contributions. The treasurer will also prepare and send out levy notices to lot owners and if there are outstanding levy payments it is the treasurer’s responsibility to take action and recover those amounts.

Record keeping is imperative as is reconciliation of all accounts held in the name of the Body Corporate. The treasurer must provide all records for any audit that may be required and of course to manage any borrowings or income that may generated outside of Lot owners levy payments.

 

Income Tax on Housing Society

Income Tax On Housing Society

Income Tax On Housing Society

The general perception of the Managing Committee of a cooperative housing society is that the income generated by the society is not chargeable to tax and therefore do not bother to file Annual Tax Return. This is a wrong perception since though certain types of income of cooperative housing society are fully exempted there are other incomes which are chargeable to tax.

The society’s income is generated by the following charges:
(1) Contribution from Members:
This is the most common charges the society collects from its members to run the day to day affairs of the society. They are credited under different heads namely, maintenance, municipal taxes, electricity, lift maintenance, housekeeping, water charges, repair funds, sinking fund. etc. Any surplus generated due to these types of income is not chargeable to tax as its exempted based on the “Concept of Mutuality”

(2) Interest charged on member outstanding dues:
Interest charged by the society on outstanding dues again forms a part of contribution and qualifies the test of concept of mutuality and is exempted.
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Housing Society Safety & Security

This Blog is penned after a spate of violent attacks taking place across Mumbai every other day and we all read it in the newspaper and think this will not happen to us.

securty

This Blog will wake you up and would urge to take active and decisive role in the affairs of the Housing Society and specifically Safety and Security of your near and dear ones.

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Now, ‘Swachha Society’ awards for housing societies

Navi Mumbai: Registered housing societies can participate in ‘Swachha Society Award’ contest launched by a private bank recently. The contest is an extension of Swachh Bharat Abhiyan, started by the bank to recognise, inspire and celebrate excellence in cleanliness, safety and adoptionof green technology in housing societies.

This inter society contest, conducted by ICICI Bank, will reward housing societies which take up environment friendly initiatives in their complexes.

Spanning over 50 days, from July 8- August 31, the contest will include initiatives on energy conservation, rainwater harvesting, segregated waste dustbins, mopping machine, compost pit and more.

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New Format of Audit Report for financial year 2015-2016

To,
      The Chairman /Secretary
            ___________________
Sub : Submission of Statutory Audit Report for the accounting year ended 31st March, 2016.
Sir,
The accounts of ______ Co-op Housing Society Ltd. have been audited on the basis of record produced and information supplied (oral and written) by the office bearers of the society during course of our audit.  The statement of accounts viz..Income & expenditure A/c. & the Balance sheet, for the aforesaid period have been duly examined and the observation and discrepancies so noticed on the transaction and affairs of the society have been mentioned in audit objection and general remarks.
Please find enclosed herewith the Statutory Audit Report for the accounting year 1stApril, 2015 to 31st March, 2016 along with the following –
1.            Statement of Income and expenditure Account & the Balance Sheet
2.            Auditors certificates, brief introduction & comment on the present status of the society, Auditors Report with audit objections, observations & general remarks & other mandatory details of the society viz table 1, 2 & 3.
3.            Schedule of Infringement of M.C.S. ACT 1960, RULES 1961 as per new amendments in the model bye_laws of the society.
4.            Audit memorandum viz. form no. 1 & form no 28.
Society is instructed to submit audit rectification report in “O” form within three months from the date of obtaining audit report to the office of registrar of co-operative societies without fail.
Thanking you,
                                                                                     AS PER OUR REPORT OF EVEN DATE

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