Handing Over the Cash Balance When the Manager Changes

On a change of manager, besides the documentation, the cash balance must be transferred together with the up-to-date position of the condominium's claims and debts. The outgoing manager hands over the funds on the dedicated account, the list of defaulters, the debts to suppliers, and every restricted fund, so that the successor can carry on the management without gaps. The transfer of sums and account information is an integral part of the end-of-mandate duties set out in Article 1129 of the Italian Civil Code.

Not only documents: money and balances too

The end-of-mandate handover duty does not stop at documentation. The condominium's money is held on a dedicated bank account in the condominium's name and remains owned by the community regardless of who administers it. On a change, the outgoing manager must put the new one in a position to operate the account and transfer all information needed to carry on, without appropriating or holding sums they are not owed.

The dedicated account is decisive: being in the condominium's name, the balance belongs to the managing entity, not to the manager. The handover consists in revoking the outgoing manager's signing powers and granting them to the successor, without the money ever leaving the condominium's ownership.

What the cash position to hand over includes

The accounting snapshot to be transferred must be complete and verifiable, so the balance ties to the items that compose it.

• Balance of the condominium bank account at the handover date, with an up-to-date statement
• List of defaulting owners with the amount of their respective debts
• Debts to suppliers, with invoices falling due and already overdue
• Restricted funds or reserves for resolved works, with their purpose
• Instalments collected and to be collected for the current financial year

The check: when the cash does not add up

The successor must check that the balance handed over matches the algebraic sum of the movements resulting from the accounts. If the cash does not add up, that is if the funds are lower than the accounts suggest, the cause must be identified: it could be advances by the outgoing manager, claims not yet collected, or shortfalls to be clarified. The check should be done calmly but rigorously, because the new manager answers for the management from the moment they take it on.

The outgoing manager's claims

It happens that the outgoing manager holds claims against the condominium for accrued fees or advances borne. These claims do not justify holding the cash balance or the documents: money and documentation must be handed over anyway, and the claim asserted separately, bringing it to the meeting for approval or, in case of dispute, to the appropriate forum. The rule is clear: first hand over, then discuss the claim, without blocking the condominium's operations.

The handover record

Formalising the transfer in a record protects both parties. The document attests what was handed over, on what date, and with what balances, and avoids later disputes over missing sums or documents. It is good practice to attach the bank statement, the defaulters list, and the schedule of claims and debts.

• State the handover date and the cash balance handed over
• Attach the bank statement, defaulters list, and supplier position
• Record the restricted funds and their purpose
• Reserve to the successor an accounting check within a reasonable time
• Have both managers sign the record

Software makes the handover verifiable

The quality of the handover depends on how clearly the accounts were kept. Software that keeps cash balance, collections, defaults, and supplier debts aligned lets you produce a verifiable asset position at any moment, simplifying both the handover and the subsequent check. AmministraPro offers an always up-to-date view of cash, claims, and debts for each condominium, useful both to those leaving and to those taking over: the tools are described on the /funzioni page, while the plans are on the /prezzi page.