Hello OzCondo
I am not familiar with the “Owners Corporation Act 2006” which is the law for Victorians. I suggest you google that string and read the Act yourself. Those are the laws or regs you are seeking.
I had a quick look and noticed these two numbered sections:
Section 11 is titled “Management of owners corporation and powers to delegate”
Section 71 is titled “Agenda for annual general meeting”
Paragraph 3 of Section 11 says that the owners corporation cannot delegate something which requires an unanimous, special or resolution at a general meeting. Section 71 says that the approval of the budget should be an item on the agenda of a general meeting.
I strongly urge you to read through the Act and put some questions about this to the committee and your strata manager.