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| From: | Paul Banoob BCS Strata Management |
|---|---|
| To: | SP52948 owner |
| CC: | Gary Webb BCS Strata Management |
| Subject: | RE: ENQUIRY: Status of financial reporting and web-based access for SP52948 |
| Date: | 17/5/12, 11:41 am |
Proper accounting practises are in place as per legalisation six monthly reports are produced and forwarded to the treasurer for there review.
I thank you for your query.
Regards
Paul Banoob
Branch Manager
Body Corporate Services
Level 27, 66-68 Goulburn Street, Sydney NSW 2000
Locked Bag 22, Haymarket NSW 1238
-----Original Message-----
From: SP52948 owner
Sent: Wednesday, 16 May 2012 8:08 PM
To: Paul Banoob
Cc: Gary Webb
Subject: ENQUIRY: Status of financial reporting and web-based access for SP52948
Hello Paul and Gary,
Upon my insistence, at the AGM 2011, the EC stated that your agency will introduce full financial reporting and web-based access to important information during 2011.
Being half-way through the yearly cycle (AGM is in October), it is worth asking when it will happen.
For the sake of good reference, here is what my friend and business colleagues get from other managing agencies in their complexes:
a) Every month, a nominated member of the Executive Committee receives a statement of all drawings from the trust account, together with a balance left in the bank.
I know for a fact that this did not happen properly over many previous years. Otherwise, some financial mistakes would have been captured early.
b) Each six months, a full report on the management of funds is sent to every owner.
c) Every year, a full expense transaction record, income and expenditure statement together with balance sheet is also sent to all owners.
The best way to ensure transparency and fair play is to know where OUR money is going is to check the financial papers regularly.
More eyes see more and we have some excellent financial and business resources in the complex.
Not sharing these documents, as I said on Monday, begs questions why they are hidden from owners.
So, are we going to get them from now on and if not, why not (especially since they can be provided via secure web access)? Such technical setup takes ONE HOUR (I know, as I have done it so many times and I used to run and own an Australian Linux-based ISP for 10 years).
Thanks,