Definition : Board of directors - Treasurer

Natural person appointed by the Board of directors. The treasurers oversees the updating and preservation of the accounting documents of the syndicate of co-owners. He also ensures the implementation of financial controls and of proper bookkeeping. This office usually includes the preparation and monitoring of the budget forecast, the management of relations with financial institutions, as well as that of investments and financing.

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The board of directors is one of the two decision-making bodies of the syndicate of co-owners. It is a mandatory decision-making body for any syndicate of co-owners. Composed of one or more directors, it is the cornerstone of any well-managed co-ownership. In principle, it is the board of directors as a group that makes the decisions and not the directors individually. Its mission is to administer and ensure the preservation of the immovable. Its operation and decision-making process are governed by the declaration of co-ownership. An overview of the various specific facets of the Board of directors.
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Preparing a forecast annual budget is an unavoidable task in co ownership. Its preparation, preliminary examination and adoption will ensure the proper functioning of the syndicate of co-owners. It is up to the Board of Directors to define its terms, in view of the expenses that will have to be paid to allow a syndicate to meet its obligations. The budget also makes it possible to fix the amount of the contributions of each co-owner to the expenses of the co-ownership. It will be prepared by the Board of Directors or property manager, based on the amounts spent in preceding financial periods, as well as anticipated non-recurring expenses. The preparation of the budget forecast requires time and rigor.  
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