HONORARIUM AWARD

[EBD]

I seek your help over this resolution. Is it proper for management council to put this resolution into voting during AGM? Our management council members are the resident of the condominium and are volunteer. All the management of the estate is by our management agent, Affinity Property Consultants Pte Ltd (fka Kenwood Property Consultants Pte Ltd)


ORDINARY RESOLUTION : HONORARIUM AWARD EQUIVALENT OF ONE QUARTER MANAGEMENT FUND & SINKING FUND CONTRIBUTION FOR ELECTED COUNCIL MEMBERS.

To consider, and if approved, resolve by the way of Ordinary Resolution to award a sum equivalent to One Quarter Management Fund & Sinking Fund Contribution for Subsidiary Proprietors, who were elected as the Council Members during the 9th Annual General Meeting. The total sum will be as approved at the 9th Annual General Meeting.

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Just saw this over at another board & wanted peoples opinion on this.

1) Has it been done before at any other condo
2) is it legal?

[condoinvestor]

Not sure, you guys will have to check with Strata Titles Board.

[teddybear]

Interesting! Actually, few people wants to be in MC because got responsibilities, took up a lot of time if the MC member is very responsible but yet get nothing in return except scoldings by other residents when they are not happy on rules and regulations implemented to their dis-favor! Some got into MC because they have under-table benefits (though I believe most don't and just want to improve the estate and possibly prevent MA from siphoning off their estate's money).

Still, isn't 1/4 of management fund too much?! :doh:
Nominal sum should be good enough, say about $500 per MC meeting, subject to a cap of $1000 pm, and only for the key appointment holders (i.e. Chairman, Treasurer, and Secretary only because they do all the work in venting vendors, quotations, sign cheques and check financial statements etc while the other MC members mostly do nothing!). :cheers1:


I seek your help over this resolution. Is it proper for management council to put this resolution into voting during AGM? Our management council members are the resident of the condominium and are volunteer. All the management of the estate is by our management agent, Affinity Property Consultants Pte Ltd (fka Kenwood Property Consultants Pte Ltd)


ORDINARY RESOLUTION : HONORARIUM AWARD EQUIVALENT OF ONE QUARTER MANAGEMENT FUND & SINKING FUND CONTRIBUTION FOR ELECTED COUNCIL MEMBERS.

To consider, and if approved, resolve by the way of Ordinary Resolution to award a sum equivalent to One Quarter Management Fund & Sinking Fund Contribution for Subsidiary Proprietors, who were elected as the Council Members during the 9th Annual General Meeting. The total sum will be as approved at the 9th Annual General Meeting.

-----------------------------------------------------------------------------------------

Just saw this over at another board & wanted peoples opinion on this.

1) Has it been done before at any other condo
2) is it legal?

[hopeful]

I seek your help over this resolution. Is it proper for management council to put this resolution into voting during AGM? Our management council members are the resident of the condominium and are volunteer. All the management of the estate is by our management agent, Affinity Property Consultants Pte Ltd (fka Kenwood Property Consultants Pte Ltd)


ORDINARY RESOLUTION : HONORARIUM AWARD EQUIVALENT OF ONE QUARTER MANAGEMENT FUND & SINKING FUND CONTRIBUTION FOR ELECTED COUNCIL MEMBERS.

To consider, and if approved, resolve by the way of Ordinary Resolution to award a sum equivalent to One Quarter Management Fund & Sinking Fund Contribution for Subsidiary Proprietors, who were elected as the Council Members during the 9th Annual General Meeting. The total sum will be as approved at the 9th Annual General Meeting.

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Just saw this over at another board & wanted peoples opinion on this.

1) Has it been done before at any other condo
2) is it legal?

is it a small development? then council members outnumber the rest.

[westman]

is it a small development? then council members outnumber the rest.

The project , Westmere (EC) at Jurong East (beside Ivory Heights) has about 286 units.

Was very surprise to see such resolution putting forward to vote in AGM..:rolleyes:

Also, the author also feedback that for a 280 units estate, their expense for Social and Recreation expenses was 43k for FY 2010. FY 2009 the expense was 11k, expense overblown more than 300%, way beyond the budget. The author asked whether is it right for management council to overblown the budget?

[howgozit]

What?! 280 units?!

I think a quarter of this amount is not a small sum of money. I have not heard of any condo councils getting paid for their duties.

[nutzz]

Definitely not right, something is going on here

[Concours]

You can always demand that the books be audited.:tsk-tsk: try to be funny with people's $$.

[Laguna]

interesting to know this

Anyway, it will not be approved by AGM.
This is not incurred in the operation.

[fclim]

Definitely not wise nor worth it. People are more forgiving if something goes wrong because your work is voluntary and noble. But if you are paid $$$, residents will hold you accountable for every single small thing and you will have to quit your job and run it full time because of the additional demands and expectations. It's not like you are paid a million dollars anyway.

[DC33_2008]

Very generous of the residents in the development. Good gesture but more problems later. Difficult to say no in future once a precedent is set.

[EBD]

Interesting! Actually, few people wants to be in MC because got responsibilities, took up a lot of time if the MC member is very responsible but yet get nothing in return except scoldings by other residents when they are not happy on rules and regulations implemented to their dis-favor! Some got into MC because they have under-table benefits (though I believe most don't and just want to improve the estate and possibly prevent MA from siphoning off their estate's money).

Still, isn't 1/4 of management fund too much?! :doh:
Nominal sum should be good enough, say about $500 per MC meeting, subject to a cap of $1000 pm, and only for the key appointment holders (i.e. Chairman, Treasurer, and Secretary only because they do all the work in venting vendors, quotations, sign cheques and check financial statements etc while the other MC members mostly do nothing!). :cheers1:

What you say on people being in MC is true. I used to get pressured into joining MC many times at my old place due to my professional skills being quite different from most other owners.
It's annoying that most owners like to whine and complain but don't want to put in effort of their own - and yet expect council members to be at their whim and call.

I did serve several terms due to wanting to improve the estate, never once did I expect or demand compensation - the rather unfair part is if anything goes wrong you maybe legally liable like that condo on Bukit Timah that had a sewage drain burst.
So you have the worst of both worlds, unpaid - but can be sued for non-performance.


This resolution - if real - is however on the surface nothing more than a raid on the coffers. I wonder if they really mean what they say? The wording seems odd and should automatically create a shortfall in their budget.

Let's pretend this development pays 200/month and has 300 units

1/4 * 200 *12 *300 = 180000
divide by council members (say 9 for easy maths) = 20k per year.
If it's only for appointment holds (chairman, secretary & treasurer) = 60k / year.

Let me tell you from experience most council members also do NOTHING - I have seen plenty ejected from council because they could not turn up once within 3 scheduled meetings.
Most council members just push everything to the MA and then bang on at them.

20k / year for moaning is very easy work...... I don't mind pocketing that much as long as I lose my morals first.