Short answer
The strata treasurer looks after the scheme’s money. The role covers preparing and issuing levy notices, keeping the accounting records, maintaining the two funds (administrative and capital works), and reporting the scheme’s finances to the owners. The treasurer isn’t personally liable for the scheme’s debts, but is accountable for keeping accurate records.
The core duties
- Levies — prepare and issue levy notices in line with the contributions set at the AGM, and track what’s paid.
- The two funds — keep the administrative fund and capital works fund in separate accounts (see Admin Fund vs Capital Works Fund).
- Records — maintain clear, chronological records of every dollar in and out, ready for the annual financial statements.
Arrears and hardship
Chasing unpaid levies is part of the job — but it has to be done properly. NSW strata law has been reformed in this area, including how schemes must handle owners in genuine financial hardship (for example, considering payment plans before escalating recovery to NCAT). The exact current requirements are the kind of detail worth confirming with NSW Fair Trading or a licensed strata manager, as the rules in this area have recently changed.
Common mistakes to avoid
- Mixing the funds — moving money between the admin and capital works funds without a formal general-meeting resolution is a breach.
- Informal arrangements — arrears variations should be recorded properly against the scheme’s records, not agreed casually.
The treasurer’s job, without the dread
For a volunteer, “custodian of the scheme’s finances” sounds heavier than it needs to be. A system such as Straita issues the levies, keeps the two funds separate, records every transaction and assembles the reports — so the treasurer approves and oversees rather than does it all by hand.
Primary sources
- Strata Schemes Management Act 2015 (NSW) — financial duties, the two funds, and accounting records.
- NSW Government — Strata schemes (Fair Trading) — financial management and levy arrears.