Confusion

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  • 15/01/2012 at 4:02 pm #7852 Reply | Quote
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      ConfusedIn 2011 our EC attempted to raise funds by imposing a special levy rather than contributions to the sinking fund. The purpose was to upgrade the lifts and waterproof the roof. These works were predictable and not an emergency. One of the owners (a solicitor) objected strongly and maintained that non emergency capital funding could only be raised by additional contributions to the sinking fund. In the end, the matter was resolved by renaming the special levy as a 'one – off' contribution to the sinking fund.  

      In 2012, the EC is trying it on again! For a massive amount, upwards of $400,000, again calling it a special levy. There is little left in the current sinking fund, so the money has to be raised. However, a special levy can only be used for unexpected expenses. The works involved have been known for some time and tenders were received last October. Surely an increase in the sinking fund levy is the way to handle this. Methinks the EC is trying to cloud the matter and not put off potential buyers by pretending that the special levy is only another one off.

      Doesn't this amount to an attempt to defraud?

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    Reply To: Confusion
    PLEASE ... If your property is not in NSW, mention its location (state). Don't identify companies or individuals by name. Don't mention or promote your company or services. Keep acronyms and initials to a minimum. Please, don’t use “quote” unless there is a specific point to which you wish to refer, then highlight (define) that specific passage before you click on "quote". Otherwise just use reply. THANKS.

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