What is the body corporate manager's role in finances?

A body corporate manager is engaged under a management agreement to assist the committee with administration. In the financial area, the manager typically: - Prepares and issues quarterly levy notices - Collects levies and follows up overdue accounts - Pays accounts and maintains the bank accounts - Prepares financial reports for committee meetings - Assists the committee with budget preparation - Arranges annual financial statements The manager is an administrator — not a decision-maker. Signing authority for payments and financial decisions remain with the elected committee members. The committee should regularly review the manager's financial reports and ask questions about any unusual items. It is the committee's responsibility to oversee the manager's work, not to blindly approve everything presented to them. This article is general information only and not legal advice.