#13516
Billen Ben
Flatchatter
Chat-starter

    JimmyT said:

    By ‘biting the bullet” I meant get on with it and take action against defaulters – and deal with the pain that arises from that.  Had someone done that in your complex all those years ago, you wouldn’t be looking at time limits at all.

    There have been efforts to “bite the bullet” for about 8 years. No one has had a real good go and there is always pain every time something is attempted.

    Last year the AGM passed a motion, unopposed, to place the matter in the hands of an external agent to depersonalize the whole affair and have it dealt with by professionals. It seemed the bullet has been bitten.

    Unfortunately the executive committee decided to not go down that path — and I am aware of s 21(4) of the Act relating to the pecking order of decisions. After the EC ignored the AGM motion that matter went to CTTT and the Owners Corporation (the EC who passed on the motion) convinced the adjudicator it had reduced the debt considerably without implementing the AGM motion. The adjudicator thus said there was no need for management to be put in place.

    When the 2011 AGM was held, after the adjudication, the real picture was revealed. Levy defaulters were up, the debt had been reduced by less than $2k, there was an $18K deficit in the admin fund and a $8k+ loss of equity.

    The financial management of the SP is dubious at best. The biggest disappointment is not the financial management, because these people don’t know what they are supposed to be doing and they do not care to know; the people are predictable. The big disappointment is that CTTT are no help with a long term problem that is not about to miraculously disappear.