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Evidence Guide: CPPDSM4085 - Handle strata community funds held on trust

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

CPPDSM4085 - Handle strata community funds held on trust

What evidence can you provide to prove your understanding of each of the following citeria?

Identify procedures for handling strata community funds.

  1. Situations in which funds are held on trust are identified.
  2. Key legislative controls relating to handling funds are identified to ensure compliance with legislative and organisational requirements.
  3. Organisational policies and procedures for handling funds are sourced.
  4. Organisational personnel responsible for monitoring and communicating changes to legislation, industry codes, and organisational policies and procedures relating to handling funds are identified.
Situations in which funds are held on trust are identified.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Key legislative controls relating to handling funds are identified to ensure compliance with legislative and organisational requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Organisational policies and procedures for handling funds are sourced.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Organisational personnel responsible for monitoring and communicating changes to legislation, industry codes, and organisational policies and procedures relating to handling funds are identified.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Process funds.

  1. Funds received from clients are promptly and accurately processed in line with organisational policies and procedures.
  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.
  3. Limitations in knowledge of legislation and organisational policies and procedures relating to processing funds are identified and specialist advice is sought as required.
  4. Compliance with relevant legislation, standards, codes, and organisational policies and procedures relating to processing funds is monitored.
Funds received from clients are promptly and accurately processed in line with organisational policies and procedures.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

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.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Limitations in knowledge of legislation and organisational policies and procedures relating to processing funds are identified and specialist advice is sought as required.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Compliance with relevant legislation, standards, codes, and organisational policies and procedures relating to processing funds is monitored.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Report fund discrepancies.

  1. Discrepancies in funds are reported in line with organisational policies and procedures.
  2. Non-compliance with organisational procedures for handling funds is reported in line with organisational policies and procedures.
  3. Records relating to fund discrepancies are completed according to organisational requirements.
Discrepancies in funds are reported in line with organisational policies and procedures.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Non-compliance with organisational procedures for handling funds is reported in line with organisational policies and procedures.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Records relating to fund discrepancies are completed according to organisational requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions.

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.

Required Skills and Knowledge

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions.

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.

A person demonstrating competency in this unit must satisfy all of the elements, performance criteria, foundation skills and range of conditions of this unit.

The person must also correctly handle four of the following situations relating to the strata community funds held for four different clients:

contractor payments

discrepancy in client account

insurance claims or refunds

lot owner’s contribution

processing non-mutual income.

In doing the above, the person must:

identify and follow procedures for handling strata community funds held on trust

process the funds held on trust received from the above clients.

A person demonstrating competency in this unit must demonstrate knowledge of:

common discrepancies and non-compliances associated with handling strata community funds held on trust

ethical requirements relating to handling strata community funds held on trust

organisational administrative routines and practices for handling strata community funds held on trust

organisational information technology and management systems used when handling strata community funds held on trust

key requirements of federal, state or territory legislation and local government regulations relating to strata community funds held on trust

risks and risk management strategies relating to strata community funds held on trust

security requirements for strata community funds held on trust

situations in which funds are held on trust by strata manager companies

sources of information on requirements for handling strata community funds on trust.

Range Statement

This section specifies work environments and conditions that may affect performance. Essential operating conditions that may be present (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) are included. Bold italicised wording, if used in the performance criteria, is detailed below.

Funds must include:

contractor payments

insurance claims and refunds

lot owner contributions

non-mutual income.