{"id":19053,"date":"2024-06-26T14:06:37","date_gmt":"2024-06-26T14:06:37","guid":{"rendered":"https:\/\/adda.io\/blog\/?p=19053"},"modified":"2024-06-27T10:43:39","modified_gmt":"2024-06-27T10:43:39","slug":"roles-and-responsibilities-of-management-committee-members","status":"publish","type":"post","link":"https:\/\/adda.io\/blog\/2024\/06\/roles-and-responsibilities-of-management-committee-members\/","title":{"rendered":"Responsibilities and Risks for Management Committees – Summary of Session by Mr. Rahul Patil #AccountingAMAWebinar\u00a0"},"content":{"rendered":"\n
\"Roles<\/figure>\n\n\n\n

As a part of the Accounting Ask Me Anything webinar<\/a> held by ADDA<\/a>, on 18th May, 2024, Mr. Rahul Patil spoke about the roles and responsibilities of the various Management Committee members, and the Risks and Liabilities for them. This session was possibly the most eagerly awaited. <\/p>\n\n\n\n

Mr. Rahul Patil<\/strong> is the Chairman of the Mumbai Division Certified Auditor Association<\/strong>, National Joint Head of Sahakar Bharati Housing Prakosth, State Head of the Housing chapter of Sahakar Bharati, and Member of All Maharashtra Federation of Auditors Association, Returning Officer for over 1000 Societies and an Administrator for more than 300 Housing Societies.<\/p>\n\n\n\n

Mr. Patill started with detailed explanation of the roles and responsibilities of the 3 main office bearers in a Management Committee – The Chairman, The Secretary & the Treasurer. He also went onto cover the roles and responsibilities of the other management committee members.<\/p>\n\n\n

\n
\"The<\/figure>\n<\/div>\n\n\n

Download the detailed slides of the roles and responsibilities of Management Committee members from here<\/strong><\/p>\n\n\n

\n
\"Download\"<\/a><\/figure>\n<\/div>\n\n\n

In the next part of the session, Mr. Patil went on to explain the Common mistakes done by the Management Committee members. <\/p>\n\n\n\n

\n

\u201cDo not make cash payments more than Rs. 1500, said Mr. Patil. Another common mistake is not maintaining proper funds for different purposes and giving proper breakup in the invoice to residents.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

He went on to explain the Infringements. These however, vary from state to state. <\/p>\n\n\n\n

Among all states in India, Maharashtra has very well laid out governance and compliances around society accounting and management.<\/strong> They have clear bylaws which the communities are supposed to adhere to. As Maharashtra is the only state having these formally documented compliances, a lot of examples and rules cited were from Maharashtra.<\/p>\n\n\n\n

However, according to the experts, these are best practices, which should be followed by all communities in India.<\/p>\n\n\n

\n
\"\"<\/figure>\n<\/div>\n\n\n

Further details on accounting related compliances and general liabilities of Management Committee members were also discussed in the session.<\/p>\n\n\n\n

Download the detailed slides of the session here<\/strong><\/p>\n\n\n

\n
\"Download\"<\/a><\/figure>\n<\/div>\n\n\n

As a Management Committee member, many times you would not even know about a particular compliance, till you get penalised for it.<\/strong> The right software helps you avoid such scenarios.<\/p>\n\n\n\n

Get your housing society onboarded on a fool-proof software, like ADDA, which helps you navigate through the complex world of Housing Society Compliances <\/a>and Legal Risks.  Contact us now!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As a part of the Accounting Ask Me Anything webinar held by ADDA, on 18th May, 2024, Mr. Rahul Patil spoke about the roles and responsibilities of the various Management…<\/p>\n","protected":false},"author":3,"featured_media":19059,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[141,2024,2019],"tags":[],"class_list":["post-19053","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-adda-buzz","category-adda-community-accounting","category-adda-india-housing-society-apartment-management"],"_links":{"self":[{"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/posts\/19053","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/comments?post=19053"}],"version-history":[{"count":15,"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/posts\/19053\/revisions"}],"predecessor-version":[{"id":19182,"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/posts\/19053\/revisions\/19182"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/media\/19059"}],"wp:attachment":[{"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/media?parent=19053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/categories?post=19053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/tags?post=19053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}