Unit of competency Outline
Date retreived
22/07/2026 9:59 AM AWST
22/07/2026 9:59 AM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Handle strata community funds held in trust
Handle strata community funds held in trust
Unit of competency
National Code
CPPSCM4085
CPPSCM4085
State Code
ODO48
ODO48
TGA Status
Current
Current
DTWD Status
Approved
Approved
State Implementation and Classification
Approved Date
28/01/2022
Field of Education
080503 - Real Estate
Original Release Date
28/01/2022
Nominal Hours
20
Description
This unit of competency specifies the skills and knowledge required to handle strata community funds that are held in trust in compliance with regulatory requirements. It includes interpreting procedures for handling strata community funds held in trust, processing funds held in trust and reporting discrepancies.This unit is suitable for strata community managers who apply a broad range of skills and knowledge to complete routine and non-routine tasks and deal with predictable and sometimes unpredictable problems. Strata community managers may also be known as strata managers, owners’ corporation managers or body corporate managers depending on the jurisdiction of operation.Licensing, legislative, regulatory or certification requirements apply to strata community management in some states and territories. For further information, check with the relevant regulatory authority.
Notes
Elements and Performance Criteria
1 Interpret regulatory and procedural requirements for handling strata community funds.
- 1.1 Identify situations in which strata community funds are held in trust.
- 1.2 Identify and interpret regulatory and workplace requirements for handling strata community funds.
- 1.3 Identify relevant persons responsible for monitoring and communicating changes to regulatory and workplace requirements for handling strata community funds and establish communication.
2 Process strata community funds.
- 2.1 Promptly and accurately process received strata community funds according to regulatory and workplace requirements.
- 2.2 Promptly and honestly respond to questions from strata community committee members and lot owners relating to strata community funds.
- 2.3 Monitor and document processing of strata community funds to ensure compliance with regulatory and workplace requirements.
- 2.4 Identify situations requiring specialist advice and seek assistance, as required, to process strata community funds.
3 Report strata community fund discrepancies.
- 3.1 Conduct reconciliation of funds according to regulatory and workplace requirements.
- 3.2 Perform calculations to verify records of funds held in trust and identify discrepancies according to regulatory and workplace requirements.
- 3.3 Report procedural non-compliances in handling strata community funds according to regulatory and workplace requirements.
- 3.4 Complete and maintain records relating to strata community funds and identified discrepancies according to regulatory and workplace requirements.
No information
No information
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| AXI79 | CPPDSM4085 | Handle strata community funds held on trust | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| BHD6 | CPP40521 | Certificate IV in Strata Community Management | Qualification |