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Paxton’s portfolio department is a cornerstone of our company. We are your scheme’s statutory and corporate governance’s skilled professional, and we specialise in being the frontline compliance officer of your scheme in terms of legislative changes and customer support.
Management of your Home Owners Association is done in collaboration with Paxton on a sophisticated property management platform, which would form the basis for compliance to legislation and will enable the Association to comprehensively and accurately provide live reporting to your scheme, and to utilise our IT property management system to manage your debtors and approve all creditor payments, in doing so would enhance your reporting management and decision-making processes regarding your scheme.
Data management and access to information is simplified in that the platform would host all your scheme’s data and would also enable the scheme to publicise statutory documents, such as Memorandum of Incorporation (MOI), notices to owners, financial statements, newsletters, minutes of meeting, scheme diagrams and conduct rules.
In line with POPI and PAIA compliance, the IT platform is externally audited and interactive with end users, providing an audit trail regarding any communication that was circulated, read or transmitted on behalf of the scheme within a ring-fenced data management system.
The platform complies with the Financial Services Board Accreditation as our system is integrated with Nedbank Business that sets stringent legal requirements for the management and reporting of financial transactions as all transactions are hosted and managed in a Trust account, supported with business reports compliant with international accounting standards. We confirm that every scheme will have a ring-fenced financial platform which can include petty cash transactions, utilities sales, rental recovery and special levy contribution recoveries.
Your day-to-day management of the Association is simplified with the support of friendly professionals which is a call or a click of a button away to provide accurate reporting on owner queries, creditors, debtor management, actual versus budget reporting, administrative management support and general queries and advice.
Our legal division will confirm your scheme’s compliance on your CIPC registration, director registration, annual return, tax return and perusal of standard requirements within your MOI and verify CSOS registration.
Our monthly reporting includes a comprehensive monthly business report providing a holistic overview of the schemes’ various financial reporting modules such as actual versus budget & cashflow.
We will register as your information officer in terms of the POPI and PAIA Act and as your compliance officer at CSOS.
The portal further enables the directors to easily approve payments online in line with the actual versus budget. All supporting documents/invoices are uploaded onto your accounting records where all information is cloud hosted. We manage your scheme’s fidelity compliance requirements insofar as a minimum two directors approval of payments is required.
Paxton monthly manages the schemes cashflow needs and places surplus funds in selected investment accounts with access to competitive investment interest rate offered by our Nedbank Corporate profile.
The Directors will have access via the portal to view a global oversight on the schemes financial information, data information and compliance requirements such as, financial year ends, proposed meetings, minutes of meetings.
The unit owner/occupant will have access via their individual portal to view their levy statement and have access to the invoice download functionality, viewing rights on balances outstanding, tasks relevant to unit, warning and fines and community documents.
Paxton is an accredited and registered member of the Property Practitioners Regulatory Authority and carries a valid Fidelity Certificate with registration – 2022113478. Our practice is fully covered in terms of the related statutory and legal requirements including section 54 Trust Accounts and registered with the Debt Collecting Council. We have comprehensive Professional Indemnity (Pl) insurance with Stalker Hutchinson Admiral (Pty) Ltd specialist underwriters. We comply with IFRS for SMEs and the Companies Act (Act No. 71 of 2008). Our practice is annually audited and independently verified to ensure compliance due to Financial Compliance, the practice qualifies to act as a Trust Administrator.
ADDRESS
Celtis House, Block D,
Eastwood Office Park,
Lynnwood, Pretoria
OFFICE HOURS
Monday – Friday
07:45 – 16:15