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Topic
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Is it a requirement for copies of the Financial Reports and Proposed budgets to be included with the Agenda for an AGM, or can these simply be tabled at the meeting?
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YES – all items shown at Schedule 2, Clause 34 of the NSW Strata Schemes Management Act (1996) have to be included with the Notice of General Meeting which all Owners must be provided with at least 7 days in advance of that Meeting.
YES that’s correct, as even though the forward budgets are customarily included with the Notice of Meeting, they are “proposed”, and so Sect 75 prescribes that those amounts be estimated and agreed upon by those present at the Meeting using anticipated and planned expenditures, some of which may have to be voted upon at the Meeting, and the financials (income and expenditure) for the preceding period.
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