A Budget helps to understand the real financial health of a housing society. The Managing Committee members would need to prepare a budget. The first step is to make bills with proper heads. Thus, a Maintenance Bill should be prepared with proper heads so that each member knows if he has been charged correctly as per the laws laid down or not. It also shows transparency in handling Society accounts. While making the Maintenance bill with proper heads, the managing committee should keep in mind that Bill is made as per Bye-laws and society members should be given a clear idea of all the services that they are paying for.
How much should be collected and under what Heads?Ĭharging society maintenance expenses to members under more specific heads is good instead of using an umbrella term for everything such as, ‘Maintenance charges’?
Residential Society-Budget and Bifurcation of Maintenance BillĮvery Society has its own budget and bifurcation of collection of maintenance from the society members.
