Topic: Repairs went $43k over budget – what do we do?

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08/02/2019 at 12:19 am #35646 Reply | Quote
Jimmy-T
Keymaster
From SWOO

Can’t figure out how to ask a question so I’m going with this space??
NSW , Unit block of 12, Remedial works went over budget by $43,000 . The Secretary and our Treasurer paid this to the remedial company but owners were unaware (no details provided) until we saw this in the proposed 2019 Budget in the Admin expense account… prepared by our Strata Manager. Is this how it is done or should owners have the opportunity to have a general meeting and decide if we want to pay it off via say a levy… As it stands now our yearly levies have risen because of the added cost of this in the admin fund.

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Reply To: Repairs went $43k over budget – what do we do?

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