Treasurer's responsibilities/ bookkeeping
Started by Newtreas
about 14 years ago
Posts: 1
Member since: Oct 2011
Discussion about
Where can I get info. about what I am supposed to do precisely? Thanks.
Check out the Council of NYC Cooperatives. I think they're having a seminar in November that covers treasurer's responsibilities.
How big is your building? I'm a treasurer, it's basically collecting maintenance, paying bills, maintaining accounts, getting stuff to accountants.
Check your Condo's prospectus.
It's similar to what a treasurer would do at a corporation or non-profit but at a smaller scale.
It varies from building to building, but a good managing agent can make your life either wonderfully simple or painfully difficult.
In most buildings, you won't be collecting maintenance -- those checks are sent directly to the management company. And the management company takes care of actually *paying* the bills, maintaining the accounts, and dealing with the accountants -- you'll most likely just have to sign the checks each month.
Again, this is assuming you have a great managing agent.