Guide
What a society should show residents every month
Residents who can see the numbers ask fewer questions. A short monthly summary does more for trust than a long argument at the AGM.
The five numbers that matter
- Opening balance: the money the building had at the start of the month.
- Collected: what came in this month, split by maintenance, one-time charges and anything else.
- Spent: what went out, grouped by category such as security, housekeeping, lift, electricity, water and repairs.
- Closing balance: opening plus collected minus spent. It should match the bank and cash in hand.
- Dues outstanding: how much is still unpaid, as a total.
What to share and what to keep private
Share totals by category. Keep individual dues private to each resident. Naming a flat that is behind creates embarrassment and rarely helps collection. Individual vendor bills can stay with the committee, who should be able to produce them when asked.
Make it a habit
Publish the summary on the same day each month, for example by the 10th. Residents notice when it is late, and they notice when it is always on time.
How LaFlaunt helps
LaFlaunt has a page called "Where our money went". Every resident sees the money collected and spent each month and what it was spent on by category. Residents see totals only. Vendors and descriptions stay with the committee.
This guide is general information, not legal or accounting advice. Your building's own rules, bye-laws or agreements, and the law of your country, come first.