› Flat Chat Strata Forum › Finance, budgeting and loans › Budgetting for Admin Fund Deficit › Current Page
21/04/2020 at 9:53 pm
#49530
Thank you for your replies.
The building was built in the 1960’s and is very no frills.
An owner took the OC to NCAT and lost. In the budget there an amount budgeted for $20,000 for legal costs refunded. This money did not go into the Admin fund and hence the deficit. However $50,000 went into the CWF where they had only budgeted for $30,000. Is is possible to move the $20,000 to the Admin Fund? I have asked the Strata Manager about this but he has not replied.
It would be good to sort this out now and not have the amount sliding round for years!