Viennese Housing Cooperative Placed Under Supervision After Audit

Details of the criticized points were not mentioned, but according to the announcement, violations of the Non-Profit Housing Act, the Management Guidelines Regulation for Non-Profit Building Associations, as well as the cooperative's statutes were identified. This was revealed during an audit conducted annually by the responsible audit association.

"Regulatory Measure" for Vienna Housing Cooperative

A government commissioner is now being appointed as a "regulatory measure", it was stated. He is to ensure compliance with all regulations and the safeguarding of assets. According to the city hall, the cooperative manages around 400 apartments.

"The ongoing monitoring of non-profit building associations as part of our supervisory activities ensures that efficiency, economy, and expediency in the sense of non-profitability are reliably maintained. If these controls reveal misconduct by individuals, consistent regulatory measures are necessary to correct misdevelopments and prevent future damage," explained Viktoria Neuber, the head of the department responsible for non-profit supervision, Magistrate Department 50.

The identified threats to the non-profit status of the cooperative would concern different matters, it was stated. They would not be in an appropriate ratio to the financial performance of the building association and would pose a "sustainable threat to the cost coverage principle".

Participation in Meetings of the Vienna Housing Cooperative

The government commissioner is appointed for one year and is granted extensive control and co-determination rights. He participates in all general meetings as well as in meetings of the board and supervisory board. Significant legal transactions require his approval.

It was pointed out that the legal basis for appointing a government commissioner at the federal level was established in 2019. The state of Vienna has so far had to make use of this option in one case, namely with the housing association WBV-GFW.

(APA/Red)

This article has been automatically translated, read the original article here.