QUOTE(ic no 851025071234 @ Jul 7 2015, 08:57 AM)
My condo there seem to have very heated competition by few to take up committee and alot drama la last year. Finally with the current chairman kick out previous chairman and the apparently current chairman is related the treasurer or something.
If this the case is it very easy for the chairman to just pocket the maintenance fund and all into own account or is it very well regulated?
Seem like very long time already and they should have called for agm few months ago but conveniently forgot. Even people complain the committee just ignore and all. Do you think there is personal gain?
Account needs to audited every year, you can't just take the money out without any reason, or transfer to any individual account.If this the case is it very easy for the chairman to just pocket the maintenance fund and all into own account or is it very well regulated?
Seem like very long time already and they should have called for agm few months ago but conveniently forgot. Even people complain the committee just ignore and all. Do you think there is personal gain?
It is a CBT offence if simply take a public money (management fund) into personal use.
Auditor will easily find out when audit the account time.
But only buying engage with a specific contractor/company or cronyism, buying expensive etc is the grey area which should be aware of.
Adopting open tender process, openness during committee meeting etc are several good way to reduce such a grey area.
Jul 7 2015, 04:37 PM
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