Topic: Fianancial reports at AGM.

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17/04/2015 at 5:26 am #9997 Reply | Quote
Boronia
Flatchatter
Is it a requirement for copies of the Financial Reports and Proposed budgets to be included with the Agenda for an AGM, or can these simply be tabled at the meeting?
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17/04/2015 at 11:48 am #23429 Reply
Whale
Flatchatter
YES – all items shown at Schedule 2, Clause 34 of the NSW Strata Schemes Management Act (1996) have to be included with the Notice of General Meeting which all Owners must be provided with at least 7 days in advance of that Meeting.

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18/04/2015 at 2:03 pm #23434 Reply
Boronia
Flatchatter
Chat-starter
Thank you, but I notice this doesn’t mention about the budgets.

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18/04/2015 at 2:54 pm #23436 Reply
Whale
Flatchatter
YES that’s correct, as even though the forward budgets are customarily included with the Notice of Meeting, they are “proposed”, and so Sect 75 prescribes that those amounts be estimated and agreed upon by those present at the Meeting using anticipated and planned expenditures, some of which may have to be voted upon at the Meeting, and the financials (income and expenditure) for the preceding period.

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Reply To: Fianancial reports at AGM.

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