#18455
kiwipaul
Flatchatter

    @dech said:
    The first result is a very large sinking fund – nothing predicted has yet occurred about five years into it, the other outcome has been extravagant spending on unnecessary changes which has no doubt been partly owing to the fact that we have so much ready cash.

    The sol is simple submit a motion to the next AGM that the sinking fund contribution be suspended until the sinking fund balance reduces to a more reasonable figure. Just requires a simple majority to pass this motion.

    Also any spending which is not a simple repair or maintenance would be considered an improvement requiring a Special Resolution by the OC to authorize (75% in favor).