I am in Victoria. We have a web portal – we only see a one-line entry – which is the accumulation of receipts for a particular category – in the AGM agenda- nothing throughout the year.
Several years ago, we had a Strata Manager who provided no financial information to owners other than a Word table with one line entry for each category e.g. “gardening” at the AGM.
When we asked for more detail about OUR finances in the AGM, they said it would take many hours to generate, and they would bill us (an undisclosed amount) for this as an additional charge.
The AGM elected a more engaged committee who then sent a email asking for a ledger of all transactions (and quoting enough of the legislation to show that we knew what we were talking about). The Strata Manager responded by terminating the contract with 7 days notice and a statement that no correspondence would be entered into. Several months later, the new strata manager sent us a bank statement showing all transactions. This revealed several charges which we were unaware of.
An engaged committee should be aware of the financial operation of the owners’ corporation. It is OUR money and OUR information.
How many committees approve payments without seeing a scan of the Tax Invoice?
Take care out there,
Woodwalker (in the ACT)