With the month of April fast approaching, most housing societies will need to host AGM and also have elections for appointment of the new managing committee (MC). MC members’ change every 3 to 5 years, which means login details of your apartment management software like ADDA will be handed over too. As a member of a housing society, you too have certain responsibilities like participating actively in discussions, reading up on the agenda prior to the meeting, turning up for the meeting on time and so on. AGM of cooperative housing society.
Several new Housing Societies and existing ones face the million dollar question of “How to conduct an Annual General Meeting?” Here’s how:
What is an Annual General Meeting (AGM)?
An Annual General Meeting (AGM) is a yearly event which is compulsory as per the society bye laws for every housing society/apartment complex. These are conducted to discuss major issues and collectively reach a consensus and find the best possible solution. As per the law, the AGM should be held on or before 30th September as per Section 75 (1) of the society bye-laws but this date can be extended by 3 months after acquiring the permission from the Registrar of Societies. If the registrar is not convinced, he may appoint an officer to conduct the meeting at the cost of the housing society.
Most common discussions in an AGM comprise of Minutes of previous meeting, financial issues, society maintenance issues, steps taken by the management committee for the betterment of living conditions, etc. Appointment of a new managing committee, auditor, etc. also takes place in an AGM.
Checklist for the AGM of Cooperative Housing Society
Before the managing committee hosts the AGM, there are a bunch of things that need to be covered in order to ensure the meeting goes smoothly.
- Have a meeting with the internal committee members and finalize the date and the agenda of the AGM.
- The President, Secretary and the Treasurer need to be present as they are the key members.
- Select the venue of the meeting. It usually is held within the premises of the housing society.
- A notice has to be sent to all members of the housing society at least 21 days in advance.
- The president, secretary and treasurer need to sign on the audited accounts.
- Appoint auditors for the next year and their remuneration
- Prepare the annual report, which highlights the work undertaken by the committee in the previous year and the plans for the next year.
- Circulate the annual report to all members of the housing society
- Get the minutes of last year’s AGM and collate a list of all resolutions passed that year.
- Also, prepare committee members to answer questions from the residents.
What are the activities in an AGM?
There are several activities that take place in an AGM. Here they are in the order in which they should be followed:
- Attendance of the members with their signatures against the flat number
- Once the quorum is established, the President welcomes all and the meeting is called to order
- Minutes of last year’s AGM is read, approved and confirmed
- Financial report for the last financial year is accepted and approved
- Flats sold/transferred in the housing society, which are in the Annual report are approved
- Admission of new members is ratified
- Ways and means to tackle regular defaulters are discussed
- If there are any members of the society who are non-cooperative, how to tackle them is also discussed
- Discuss the appointment of auditors for the next financial year and their remuneration
- Discuss issues related to common areas like parking spaces, playgrounds, park, lifts, etc
- Discuss salary hikes of staff like security guards, maintenance staff, etc
- Elect the new managing committee, if applicable
- Any other matter may be discussed with the permission of the President
- Vote of Thanks
Post the Annual General Meeting, the minutes of the meeting are circulated among all members and residents of the housing society. It is vital that all are made aware of the decisions taken in the AGM.
Now you can manage the Annual General Meeting of your apartment complex entirely online using the apartment management software, ADDA. Read our blog on How to use ADDA to manage AGMs of Cooperative Housing Society to know how.