The condominium budget must be accompanied by an explanatory note from the management.\u00a0Otherwise, the resolution can be canceled.<\/p>\n
Marco Borriello – Court of Nola\u00a006\/14\/2021<\/p>\n
Without a doubt, the preparation of the annual report is one of the most important activities that the administrator must carry out.\u00a0Consequently, the approval of the so-called\u00a0final balance sheet\u00a0<\/strong>is subject to a timely and necessary vote by the assembly.<\/p>\n The latter, together with all the individual owners, including those absent from the\u00a0meeting\u00a0<\/strong>, has the task of checking the accounting document and verifying its legitimacy.<\/p>\n It is needless to say that on this issue, there are frequent disagreements between the condominiums which, often, lead to real disputes.<\/p>\n This is the case, for example, of the matter submitted to the scrutiny of the Court of Genoa.\u00a0The office of the Ligurian capital has, in fact, resolved the\u00a0appeal\u00a0<\/strong>of a\u00a0shareholders’ meeting\u00a0<\/strong>with the recent sentence no.\u00a01131 of 25 May 2021.<\/p>\n In particular, the dispute in question arose, among other reasons, for the alleged illegitimacy of the reports submitted for examination by the assembly and, specifically, for the\u00a0lack of the explanatory note\u00a0<\/strong>attached to them.<\/p>\n Let’s see, therefore, what happened in this condominium and why it was, concretely, necessary to refer to the competent magistrate.<\/p>\n The dispute in question arose, about three years ago, following the approval of several final balances relating to the management of common goods and services of a building located in a small, but pretty, municipality in the province of Genoa.<\/p>\n In particular, the plaintiffs challenged the correspondent deliberated, deducing its invalidity with regard to some points.<\/p>\n More specifically, it was pointed out that the vote had been expressed, with a favorable majority, without considering that\u00a0none of the approved reports had been accompanied by the so-called\u00a0explanatory note\u00a0<\/u><\/strong>.<\/p>\n According to the petitioners, it was a shortcoming that could only spoil the assembly with regard to this specific agenda.<\/p>\n The defendant condominium, duly constituted, specified that it had approved several financial statements on a single occasion, to overcome an administrative deadlock that had characterized previous years and previous managements.<\/p>\n Not for this, the reports voted were incomprehensible and it was not even possible to invoke the bad information of the applicants, given that they had duly informed themselves about the overall\u00a0accounting documentation\u00a0<\/strong>in the various appointments that took place at the administrator’s office.<\/p>\n The Court of Genoa, having assessed the investigation of the proceedings in question, accepted the request and declared the resolution invalid in the part in which it approved the various financial statements, without these having been accompanied by an\u00a0explanatory summary note\u00a0<\/strong>.\u00a0According to the magistrate it was a defect that led to the annulment of the vote.<\/p>\n The loss on litigation costs was an inevitable consequence.<\/p>\n In the first and second paragraphs of art.\u00a01130bis of the civil code, introduced about ten years ago, the elements that must characterize the\u00a0condominium report\u00a0<\/strong>are described\u00a0”\u00a0The condominium report contains the entry and exit items and any other data concerning the property situation of the condominium, the available funds and any reservations that must be expressed in such a way as to allow immediate verification.<\/em><\/p>\n It consists of an\u00a0accounting register\u00a0<\/u><\/strong>, a\u00a0financial summary\u00a0<\/strong>, as well as an\u00a0explanatory summary of the management\u00a0<\/strong>with an indication also of the relationships in progress and the pending issues\u00a0<\/em>“.\u00a0\u00a0\u00a0<\/em><\/p>\n It is obvious that the explanatory note is one of those documents that must make up a balance sheet.\u00a0According to the 2012 legislator, therefore, the report must be accompanied by a report, even synthetic, on the management and overall state of a building.<\/p>\n Therefore, the administrator must, for example, report\u00a0what happened during the accounting year\u00a0<\/strong>, what was the fund from which he started and the current economic situation.\u00a0The professional must also\u00a0inform the community of any pending litigation\u00a0<\/strong>and, if there is a deficit, explain the reasons.<\/p>\n In short, the budget must be understandable under various aspects and cannot be limited to reporting the income, expenses and expenses that have been faced.<\/p>\n In this sense, the explanatory note is useful and\u00a0essential\u00a0<\/strong>.\u00a0In the absence of the same, the invalidity of the approved report is just around the corner.<\/p>\n According to the Court of Genoa, in the wake of the jurisprudence of the Supreme Court of Cassation,\u00a0it is not possible to validly approve a condominium budget if the\u00a0<\/strong>overall\u00a0documentation\u00a0<\/u><\/strong>, from which it consists,\u00a0is missing the explanatory note\u00a0<\/strong>.<\/p>\n ”\u00a0The accounting register, the financial summary and the summary explanatory note of the management, which make up the report, certainly pursue the aim of satisfying the interest of the condominium in a concrete knowledge of the real accounting elements contained in the financial statements, in order to dissipate the insufficiencies, uncertainties and lack of clarity in relation to the data of the account, and so as to allow the expression of a conscious and thoughtful vote in the assembly.<\/em><\/p>\n When the\u00a0report is\u00a0<\/strong>not composed of a\u00a0register, summary and note, inseparable parts of it\u00a0<\/strong>, and the condominiums are therefore not informed about the real property situation of the condominium with regard to income, expenses and available funds, it can derive\u00a0from it\u00a0<\/strong>–\u00a0regardless of the possible exercise of the right competitor it is up to the participants to view and extract a copy of the\u00a0<\/strong><\/em>supporting\u00a0documents for\u00a0<\/em><\/strong>the annulment of the shareholders’ meeting resolution of approval\u00a0<\/em>(Cass. 33038\/2018) “.\u00a0\u00a0\u00a0\u00a0\u00a0<\/em><\/p>\n Therefore, the explanatory note must necessarily accompany and constitute the condominium report.\u00a0Otherwise, the\u00a0resolution\u00a0<\/strong>can be\u00a0annulled\u00a0<\/u><\/strong>on the initiative of\u00a0the dissenters or absentees.<\/p>\n Source:\u00a0https:\/\/www.condominioweb.com\/il-bilancio-condominiale-deve-essere-accompagnato-da-una-nota-esplicativa.18178<\/u><\/p>\n GECOSEI by Giuseppina Napolitano<\/p>\nInvalidate the resolution approving the report lacking a summary: the concrete case<\/strong><\/h3>\n
Explanatory note to the condominium budget: what is it about?<\/strong><\/h3>\n
The summary is an essential element of the financial statements<\/strong><\/h3>\n
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