› Flat Chat Strata Forum › Strata Committees › Admin Fund in Deficit › Current Page
27/08/2011 at 6:42 pm
#13627
Section 71 of the strata Act allows a sinking fund to lend money to the admin fiund provided it is repaid in three months. This is a recognition that every organisation can have cash-flow problems from time to time and basically allows the money to be lent for the duration of one levies collection cycle.
That's one reason OCs have to keep on top of levies payments – the sinking fund is not a well you can go to too often.