I am a member of Co-op.Society Ltd. situated at Evershine Nagar, Malad (W), Mumbai – 400064. Our society has 4 buildings. Out of the four, One building was constructed during 1978 and possession were given the members. The members maintain their account. Later during 1986-87, other 3 buildings were constructed and handed over to members. Till some time the accounts were maintained building-wise. However, later on the Society’s MC started maintaining single account. The buildings are different sizes and maintenance charges, sinking fund are not same amount. As such problems arise, when the amount is distributed amongst the buildings. Therefore, it is requested let us know, whether, we can maintain the accounts building-wise. Your valuable guidance is requested on priority.
I C Naik
The Society being one entity the statutory accounts and financial statements have to be one consolidated for the entire operations. However the Society can maintain Building wise Accounts 1-4 and Consolidated one for the Society, which is exact total of 4 nsidiary accounts. So you know financials of every building.
The other alternative is 4 Societies can be registered with every Society having one building. You can also register one housing society Of all members of all 4 buildings to provide common services to the 4 housing societies and with that the 5 sub-section are eligible to for a federation which can look after areas common to all 5 cooperative societies. You can have 6 the management committees and people will have to take active interests.