The Italian condominium financial statement: what it is and how to prepare it

The rendiconto condominiale is the document through which the administrator accounts to the owners' meeting for the building's finances over the financial year. It is not a simple list of income and expenses: since the 2012 condominium reform (law 220/2012), its content is governed by article 1130 bis of the Italian Civil Code, which sets out its structure and minimum components. Preparing it well means giving owners a clear, verifiable picture of how the funds were used.

What article 1130 bis of the Civil Code requires

Article 1130 bis states that the condominium financial statement contains the income and expense items and any other data relating to the building's financial position, available funds and any reserves. It must be drawn up so as to allow immediate verification, and it is made up of three parts: the accounting register, the financial summary and the explanatory note.

The three parts of the statement

The accounting register

The accounting register records all income and expense operations in chronological order, within thirty days of each transaction. It is the analytical basis on which the rest of the statement is built: every instalment collected and every payment to a supplier leaves a dated trace.

The financial summary

The financial summary, or statement of financial position, captures the balances: cash and bank availability, receivables from owners in arrears, payables to suppliers, funds and reserves. It shows not only how much was spent, but the financial health of the condominium at year end.

The explanatory note

The explanatory note accompanies the figures with explanations: it describes the allocation criteria used, works in progress, the most significant items and any deviations from the budget. It is the part that makes the statement readable even to those without accounting knowledge.

How the statement is approved

The statement is submitted to the owners' meeting, which approves it with the ordinary majorities set by article 1136 of the Civil Code. Approval is normally followed by the allocation among owners based on the thousandth (millesimal) tables or the specific criteria of individual expenses. Owners have the right to inspect and obtain copies of the supporting documentation.

• Prepare the accounting register, financial summary and explanatory note.
• Attach the supporting documentation for expenses.
• Call the meeting and make the documents available in advance.
• Approve the statement and resolve on the allocation among owners.

The most common mistakes

The mistakes that most often make a statement contestable are the absence of the explanatory note, the lack of an up-to-date accounting register and confusion between accrual and cash basis. An unclear statement exposes the administrator to challenges and complicates the recovery of arrears, because it makes it harder to prove the condominium's claims.

Preparing the statement with management software

With condominium management software the statement builds itself from the movements already recorded: the accounting register is fed by bank reconciliation, the financial summary updates in real time and the explanatory note starts from a template. This reduces manual errors and shortens year-end closing, while leaving the administrator in control of the substantive choices.

AmministraPro generates the condominium financial statement in line with article 1130 bis from the firm's accounting, with automatic millesimal allocations and attached documentation. You can see how it works on the features page or compare the plans in the pricing section.