Re: Support financial information provided with AGM Notice documentation

I have added Schedule 2 Clause 34 of the NSW Act which deals with what financial information should be provided to Owners for an AGM.

Quote”

34 Special requirements for notice of annual general meeting

Notice of an annual general meeting must:

(a) be accompanied by a copy of the last financial statements prepared by the owners corporation together with any relevant auditor’s report, and

(b) include a form of motion for adoption of those financial statements, and

(c) include the information referred to in section 98 (2) (d) in relation to each current insurance policy held by the owners corporation, and

(d) include a form of motion to consider the appointment of an auditor and the taking out of insurance of the kind referred to in section 88 (2) if insurance of that kind has not already been taken out, and

(e) include a form of motion for the election of the executive committee, and

(f) include a form of motion to decide the number of members of the executive committee, and

(g) include a form of motion to decide if any matter or type of matter is to be determined only by the owners corporation in general meeting.

While it says above in a) it states that the latest Financial Statement should be provided it does not state that the details of the payments (cheques) & Income be provided (ie the items which make up the Financial Statement.

Speaking to a couple of Strata Managers and seeing their AGM Notice documentation, they state (and provide) this material should be provided for each Expense and revenue account .

My Strata Managers however only provides one ledger account and it is a small value account, with nothing for such things as repairs / similar expenses.

Does anyone have an opinion?