Course Title: Handle strata community funds held on trust

Part A: Course Overview

Program: C4394 Certificate IV in Strata Community Management

Course Title: Handle strata community funds held on trust

Portfolio: SEH Portfolio Office

Nominal Hours: 20

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Flexible Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

ACCT5410C

City Campus

TAFE

174T School of VE Engineering, Health & Science

Internet

VE 2017 (SCM1)

Course Contact: Mimma Luppino

Course Contact Phone: +61 3 9925 4979

Course Contact Email: mimma.luppino@rmit.edu.au



Course Description

This unit of competency specifies the outcomes required to handle strata community funds received from clients that are held on trust. It includes identifying procedures for handling strata community funds held on trust, processing funds held on trust received from clients, and reporting discrepancies.

The unit supports the work of those involved in handling moneys held on trust. It applies to strata managers.

Licensing, legislative, regulatory or certification requirements apply to this unit in some States and Territories. Relevant state and territory regulatory authorities should be consulted to confirm those requirements.

Pre-requisite Courses and Assumed Knowledge and Capabilities

NIL



National Competency Codes and Titles

National Element Code & Title:

CPPDSM4085 Handle strata community funds held on trust

Elements:

1. Identify procedures for handling strata community funds.

2. Process funds.

3. Report fund discrepancies.


Learning Outcomes

On completion of this, course you should be able to:
1. Identify procedures for handling strata community funds.
   1.1 Situations in which funds are held on trust are identified.
   1.2 Key legislative controls relating to handling funds are identified to ensure compliance with legislative and organisational requirements.
   1.3 Organisational policies and procedures for handling funds are sourced.
   1.4 Organisational personnel responsible for monitoring and communicating changes to legislation, industry codes, and organisational policies and procedures relating to handling funds are identified.
2. Process funds.
   2.1 Funds received from clients are promptly and accurately processed in line with organisational policies and procedures.
   2.2 Questions from strata communities and lot owners relating to funds are responded to promptly and honestly, within scope of own responsibilities, and according to organisational policies and procedures.
   2.3 Limitations in knowledge of legislation and organisational policies and procedures relating to processing funds are identified and specialist advice is sought as required.
   2.4 Compliance with relevant legislation, standards, codes, and organisational policies and procedures relating to processing funds is monitored.
3. Report fund discrepancies.
   3.1 Discrepancies in funds are reported in line with organisational policies and procedures.
   3.2 Non-compliance with organisational procedures for handling funds is reported in line with organisational policies and procedures.
   3.3 Records relating to fund discrepancies are completed according to organisational requirements.

 


Overview of Assessment

Assessment may include but not limited to a variety of methods including written short answers, assignments, online quizzes, interactive tasks and multiple choice questions. You will be asked to demonstrate to your teacher/assessor the skills gained during this course to the relevant industry standards. Assessment activities will occur throughout this course and feedback will be provided at regular intervals.