Does anyone have experience with S55 reports (NSW)?
STRATA SCHEMES MANAGEMENT ACT 2015 – SECT 55 Strata managing agent to record exercise of functions (austlii.edu.au)
Or is this requirement something that the Strata Managers just ignore because it’s too difficult?
Hi SaltyOne
I found a “Strata Managers Report” in my old files. The report contains many lists, sumarising the work they did for us. The lists are grouped under the following headings.
- Work Orders Issued
- Quotes Called
- Total Strata Status Certificates Issued (Section 184 Certificates)
- Strata Interest Notices (Section 22 Notice)
- Total Number of Payments Issued
- Total Number of Receipts Issued
- Insurance Commissions Earned and Predicted
- List of Insurance Claims
- List of Meetings Called
- Training Services Received
- It looks like something that was produced from a strata management software package. Having experienced multiple strata managers, I think they’re using specialised strata management software to handle their work.
We never formally requested a “Strata Manager’s Report”. It was bundled with all the papers accompanying the notice of Annual General Meeting. By “papers”, I mean the agenda, Statement of Key Financial Information, Balance Sheet, budget, income and expenditure statements and any service they wanted to charge extra money for doing.
I think this report should be part of the service they provide for you. If they have never provided such a report, they may try to charge you an extra fee for producing it.