Practical guide
How to check the annual statement before the meeting
Receiving the annual statement a few days before the owners' meeting is not enough: it must be read methodically to vote knowingly. Each owner has the right to inspect the accounting documents and to ask for clarification before approving. An orderly check starts from the overall totals, verifies the consistency between the various schedules, checks your own share and ends with an examination of the supporting documents for the most significant items. This guide walks you through the review of the statement under Article 1130-bis of the Italian Civil Code, so you arrive at the meeting with precise questions rather than vague doubts.
Pre-vote review checklist
- Verify you received all documents: accounting register, financial summary and explanatory note
- Check that the year-end cash and bank balance matches the attached bank statements
- Compare the final accounts with the budget approved the previous year and note the variances
- Find your unit in the allocation schedule and verify the thousandths (millesimi) applied
- Add up the allocated shares and check the total matches the allocated expenses
- Identify the highest or unexpected items and prepare a request for the related supporting documents
- Check how the previous year's balances and any arrears were handled
- Note down the questions to ask and, if needed, request access to the documents before the meeting
Start from the totals, not the details
The first check concerns the overall picture. Look at total income, total expenditure and the final cash and bank balance. Under Article 1130-bis of the Italian Civil Code, the condominium statement must contain the income and expenditure flows and the condominium's financial position: figures that must reconcile with one another.
A common mistake is to dive straight into individual receipts, losing sight of the overall consistency. If the balance declared at year-end does not match what appears in the attached bank statements, something needs clarifying before even getting into the detail of expenses.
- Total income for the year
- Total expenditure for the year
- Final bank and cash balance
- Match with the attached bank statements
Cross-check the documents
The statement is made up of several schedules that must tell the same story. The accounting register lists movements in chronological order; the financial summary and the balance sheet show balances, receivables and payables; the explanatory note describes in words the most relevant management facts.
Verify that the amounts reported in the different documents coincide. An expense that appears in the summary but has no counterpart in the register, or an allocated total different from the total of expenses for the period, is a signal that deserves a question at the meeting.
Check consistency with the budget
The final accounts should be read together with the budget approved the previous year. Variances are not automatically a problem: extraordinary maintenance approved during the year or an increase in a supply contract legitimately explain a difference. What matters is that every significant variance has an explanation.
Mark the items where actual expenditure noticeably exceeds the forecast and ask for the reason. The explanatory note often already anticipates the answer: read it before framing your question.
Verify your personal position
After the overall picture, find your unit in the allocation schedule. Check the thousandths (millesimi) attributed to you, the advances you paid during the year and the balance owed or credited that is being requested. This is the figure that affects you directly and must be checked carefully.
Make sure the allocation criteria are the correct ones: expenses are divided based on ownership thousandths or the specific criteria set by Articles 1123, 1124, 1125 and 1126 of the Italian Civil Code for the lift, stairs, ceilings and flat roofs.
Examine the supporting documents for the main items
You do not need to check every single receipt, but the most substantial items deserve a review. Ask to see supplier invoices, maintenance contracts and the supporting evidence for extraordinary expenses. Article 1130-bis provides that every owner may inspect and obtain copies of the supporting documents of expenditure.
If you do not have time to examine them all before the meeting, you can ask the manager to arrange an appointment to consult the documents or request copies. Management software such as AmministraPro lets owners consult the statement and supporting documents from the owner's private area at any time: you can see the features at /funzioni and the plans at /prezzi.
Frequently asked questions
How many days before the meeting must the statement be available?
The law does not set a precise number of days for the statement, but the notice of convocation must arrive at least five days before the first sitting. It is good practice for the accounting documents to be available with enough time for a knowing review: if they reach you late, you can ask in writing to inspect them before the meeting.
Can I ask for copies of the supporting documents?
Yes. Article 1130-bis of the Italian Civil Code grants every owner the right to inspect and obtain, at their own expense, copies of the supporting documents of expenditure. The request goes to the manager, who must allow consultation without obstructing the management activity.
What do I do if the balance does not match the bank statements?
Report the discrepancy in writing and ask for clarification before the vote. A difference between the declared balance and the bank statement may result from movements straddling year-end or from posting errors. If the explanation is not convincing, you can have your objection recorded in the minutes and consider not approving.
If I do not understand an item, must I vote against?
No. Before the vote you can ask the manager for explanations, as the manager has a duty to account for the management. An unresolved doubt may justify a vote against or an abstention, but often a simple request for clarification settles the matter without conflict.
Is checking the statement only the auditor's job?
No. The meeting may appoint an auditor, but the check is first of all a right and a responsibility of every owner called to approve the accounts. The auditor is an additional tool, not a substitute for individual verification before the vote.
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