From Sectional Title Living...

The Selfless Role and Tasks of Trustees

Trustees are taken for granted, enjoy little support, critised when they err or fail to do something and seldom appreciated for what they do voluntarily.

Trustees are accountable to the body corporate and responsible for managing the affairs (functions, powers and duties of trustees refer to the prescribed Management Rules 25-49) of the body corporate:

• Appoint agents and employees of the body corporate
• Signing instruments
• All things reasonably necessary for control, management and administration of common property
• All things reasonably necessary  to enforce the Rules
• Maintain adequate insurance of all common property and improvements
• Collection of levies
• Prepare for the AGM an estimate of income and expenditure
• Within 14 days after the AGM confirm each unit's levy payable
• Make special levies, if necessary
• Charge interest on arrear amounts
• Collect all legal costs payable by owners
• Keep a complete record of the Rules in force
• Lodge any approved amendments of the Rules with the relevant Registry of Deeds
• Effect improvements, subject to certain conditions
• Keep minutes, including a minute book in perpetuity
• Cause proper books of accounts to be kept, a record of assets and liabilities, a register of owners and individual ledger accounts
• Cause the preparation of annual audited financial statements
• Prepare an annual trustees' report
• Arrangement of the AGM