Queensland Consolidated Regulations

BODY CORPORATE AND COMMUNITY MANAGEMENT (SMALL SCHEMES MODULE) REGULATION 2020 - REG 89

89 Reconciliation statements [SM, s 170]

(1) This section applies if—

(a) a body corporate manager administers the body corporate’s administrative or sinking fund under—

(i) an authorisation given by the body corporate under section 119 (2) of the Act ; or

(ii) a chapter 3 , part 5 engagement; or

(b) the body corporate decides by ordinary resolution that reconciliation statements must be prepared under this section.

(2) A statement (the
"reconciliation statement" ) must be prepared, within 21 days after the last day of each month, for each account kept for the fund showing the reconciliation of—

(a) a statement, produced by the financial institution where the account is kept, showing the amounts paid into and from the account during the month; and

(b) invoices and other documents showing payments into and from the account during the month.

(3) The reconciliation statement must be prepared by—

(a) if the fund is administered by a body corporate manager—the body corporate manager; or

(b) otherwise—the treasurer.