› Flat Chat Strata Forum › Levies and Unit Entitlements › Can Annual levies be raised by more than 10%? › Current Page
I don’t believe that there is any upper limit on the amount of increase that can be sought for an Admin Fund when an annual Budget is being set. The purpose of an annual budget is to raise funds to cover the known cost.
The only other way to raise money is via a Special Levy. However Special Levies should only be used to address repairs etc that were either unknown at the time that the Budget was set, or the contributions had not been adequate over the period to provide for the repair etc.
Your scheme’s Admin Fund shortfall is known therefore it can be addressed at the AGM via an increase in the ordinary levies without the need for a Special Levy. I hope that makes sense.