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| From: | SP52948 owner |
|---|---|
| To: | Gary Webb BCS Strata Management |
| CC: | Paul Banoob BCS Strata Management |
| Subject: | MOTION SUBMITTAL: Better Financial Reporting for Owners Corporation SP52948 |
| Date: | 23/6/12, 4:46 pm |
Hello,
In accordance with Strata Schemes Management Act 1996, Part 2, Division 3, Clause 36, I submit the following motion, for which I require an official acknowledgment from the Secretary that they have received it and will include it in the next GM agenda (Extraordinary General Meeting or Annual General Meeting, whichever comes first).
At the AGM 2010 and 2011, the EC stated that we would introduce full financial reporting and web-based access to important information at Macquarie Gardens. That did not happen and Raine & Horne Epping refuses to provide such services (as confirmed in private correspondence from the Branch Manager Paul Banoop).
Based on insufficient transparency and accountability when managing the complex in the past, and upon discovery of serious financial losses, poor practices, hidden expenses, and refusal by the EC and the managing agent to provide precise financial data, the following motion is submitted.
The free access to the financial reporting is common practice in other complexes and provided at NO EXTRA COST by reputable strata management agencies. Modern technologies are readily available, so electronic mail and secure web access are the appropriate methods for sharing the information in the complex.
The email-based reporting is in perfect agreement with NSW Strata Schemes Management Regulation 2010, model By-Laws, and recommendation by SP52948 Executive Committee in 2004 (to cut the postage costs):
STRATA SCHEMES MANAGEMENT REGULATION 2010 - SCHEDULE 2
Model by-laws for residential strata schemes (Clause 27)
22 Service of documents on owner of lot by owners corporation
A document may be served on the owner of a lot by electronic means if the person has given the owners corporation an e-mail address for the service of notices and the document is sent to that address.
Hence, the SP52948 owners are asked to consider the following approval of a new By-Law:
The Owners Strata Plan 52948 No. 52948 (the "Owners Corporation") by SPECIAL RESOLUTION, pursuant to Section 52 of the Strata Schemes Management Act 1996, make an additional by-law for the benefit of all owners in the complex through better financial reporting:
a) Every month, a Treasurer of the Executive Committee to receive a statement of all drawings from the trust account, together with a balance left in the bank. The Treasurer shall review the statements and act promptly to correct the errors if necessary.
b) At a minimum, each six months, a full report on the management of funds shall be sent to every owner (secure web access, email, or, by post). Individual owners shall have the choice to opt-out of such scheme if they are not interested in the financial status.
c) Every year, a full expense transaction record, income and expenditure statement together with balance sheet shall be provided to all owners before the Annual General Meeting.