Investigative Journalism and Learning Hub - SP52948 Admin Fund Balance Status Concerns In Period From 31 January 2017 When Waratah Strata Management Took Office

Welcome to the blog of NSW strata investigative journalism

Artificial Intelligence (AI) was NOT involved in investigations of strata issues in Australia (primarily NSW). We never used or relied on AI, and instead deployed classical methods: thorough due diligence, mitigating bias, abiding by ethical principles, clear and transparent documentation, mitigating risk, continuous monitoring, and legal compliance.

Since Annual General Meeting 2017 Waratah Strata Management not only prevented proper financial reporting for SP52948, but was also heavily involved in financial mismanagent:

SP52948-Waratah-Strata-Management-prevented-better-financial-reporting-since-AGM-2017.png

Record negative balance (deficit) in Admin Fund in amount of -$375,415.62 was achieved by Waratah Strata Management on 30 April 2025 without disclosure to owners, NSW Fair Trading, and NCAT:

SP52948-Admin-Fund-record-negative-balance-30Apr2025.webp

Graph of serious negative balance in Admin Fund since 1 February 2017 when Waratah Strata Management took office speaks for itself:

SP52948-graph-of-Admin-Fund-negative-balances-since-31Jan2017.webp

Capital Woprks Fund also reported shortage in amount of 1.5 million dollars on 23 September 2021:

SP52948-minutes-EC-meeting-23Sep2021-Capital-Works-Fund-shortage-of-1.5-millions

NSW Fair Trading letter on 17 October 2023, confirming that Waratah Strata Management failed to comply with regulations for Auditor's reports:

SP52948-NSW-Fair-Trading-case-11138875-identified-Waratah-Strata-Management-failed-to-provide-copy-of-audit-reports-17Oct2023.png

Nine committee members were asked to inform all owners about NSW Fair Trading update on 18 October 2023 and they did not respond.

Waratah Strata Management, Uniqueco Property Services, and committee members refused to publish details of NCAT case 2024/00454780. Most of the documents were not available on notice boards, not available on Waratah Strata website, and not sent to any owner after the case was opened:

SP52948-NCAT-case-2024-00454780

Primary audience on the website are owners (current and previous), tenants, investors, and potential buyers in large strata complex SP52948. Attempts to get Waratah Strata Management to keep all parties informed has been ignored since 1 February 2017. Strata files are kept undisclosed and even events like mediation at Fair Trading NSW, NCAT case SC 20/33352, Police Events, and OLSC reports about professional misconduct of Solicitor Adrian Mueller are not provided to owners (current and previous), tenants, investors, and potential buyers in large strata complex SP52948. Committee members and Waratah Strata Management refused to offer assistance to these organisations.

Number of SP52948 owners, tenants, and investors expressed gratitude towards this website as that was the only way to gain access to lot of critical information, which is not available in minutes and notices of meetings, or on Waratah Strata website.

The rest of the audience is anyone who might be interested in problems with strata schemes in NSW...

This website does not have any desire or intent to add own comments and therefore it is up to anybody to make up their own conclusions based on evidence and statements by others who did it in public forums, in courts, or elsewhere. All files on this website were provided to Fair Trading NSW, Office of legal Services Commissioner, NCAT, Supreme Court, and Police. The same files were repeatedly sent to Solicitor Adrian Mueller, Bannermans Lawyers, committee members and strata managers - silence was their response.

Public is voicing strong concerns about problems with Tribunals. Issues with strata complexes and dubious quality of services provided by those who should enforce laws are common and frequent

Democracy should be the leading avenue for managing strata complexes. But, democracy requires high level of sense and ethics, and right for all owners to have full access to strata files in order to make informed decisions. And when that does not happen, how to proceed? One way is to educate public and rise awareness that license to be a strata manager is one of the easiest in any industry: Strata Community Australia (SCA) are offering a three-day course on qualifying to be a strata manager with no prior educational requirements (apparently educational requirements are fulfilled by completing the course):

Analysis of Federal Court data in 2022 found 10 per cent of all forced bankruptcies across Australia are from strata levy debts. A state breakdown of the problem shows it is much higher in the Australian Capital Territory and New South Wales, and it is a growing problem in some other states:

ABC News on 30 August 2023

Bankruptcy filings 2022 Strata bankruptcy filings as a percentage of total bankruptcy filings
NSW 18%
ACT 29%
Victoria 4%
Queensland 5%
Western Australia 3%
Northern Territory, South Australia, Tasmania 0%

SP52948 Admin Fund Balance Status In Period From 31 January 2017 When Waratah Strata Management Took Office

  1. SP52948-effects-of-Waratah-Strata-Management-on-Balance-Sheet-since-31Jan2017

  2. In one of many examples of Lot 158 efforts, on 5 October 2015 Lot 158 tried to reason with BCS Strata Management (they lost contract with SP52948 at AGM in 2016) to avoid massive and persistent mismanagement of common funds and pending large expenses due to neglect of complex.

    Lot 158 was ridiculed and completely ignored.

  3. At committee meeting on 22 February 2024, Waratah Strata Management was forced to admit they "accidentally" falsified financials since November 2023, with one monthly salary for Uniqueco Property Services and gas usage payments missing in total amount of around $30,000.00:

    SP52948-accounting-differences-for-status-on-30Nov2023-found-on-Waratah-Strata-Management-website-27Feb2024

    SP52948-accounting-differences-for-status-on-31Dec2023-found-on-Waratah-Strata-Management-website-27Feb2024

    SP52948-accounting-differences-for-status-on-31Jan2024-found-on-Waratah-Strata-Management-website-27Feb2024

    SP52948-accounting-differences-for-status-for-late-Feb2024-found-on-Waratah-Strata-Management-website-27Feb2024

  4. Lot 158 tried to reason with Waratah Strata Management and committee members to avoid bankruptcy and unnecessary legal costs and insurance risks on 2 June 2019.

  5. Lot 158 tried to reason with Waratah Strata Management and committee members to prevent unnecessary legal costs and assist NSW Fair Trading and Police on 18 June 2019.

    Lot 158 was ridiculed and completely ignored.

  6. Lot 158 predicted risks of running out of money in email and warning to Waratah Strata Management, Uniqueco Property Services, and committee members on 29 June 2019.

    Lot 158 was ridiculed and completely ignored.

  7. Seven more warnings were sent to Waratah Strata Management and committee members in 2023 - no reply was ever received:

    Waratah Strata Management warned about SP52948 insurance risks, safety, financial health (bankruptcy risk), and non-compliance with laws on 8 June 2023

    Waratah Strata Management warned about SP52948 insurance risks, safety, financial health (bankruptcy risk), and non-compliance with laws - part 2 on 19 June 2023

    Waratah Strata Management warned about SP52948 insurance risks, safety, financial health (bankruptcy risk), and non-compliance with laws - part 3 on 19 July 2023

    Waratah Strata Management warned about SP52948 insurance risks, safety, financial health (bankruptcy risk), and non-compliance with laws - part 4 on 18 August 2023

    Waratah Strata Management warned about SP52948 insurance risks, safety, financial health (bankruptcy risk), and non-compliance with laws - part 5 on 12 September 2023

    Waratah Strata Management warned about SP52948 insurance risks, safety, financial health (bankruptcy risk), and non-compliance with laws - part 6 on 13 September 2023

    Waratah Strata Management warned about SP52948 insurance risks, safety, financial health (bankruptcy risk), and non-compliance with laws - part 7 on 26 September 2023

  8. In agenda for Annual General Meeting 2023, Waratah Strata Management continued to mislead owners, confirming problems with strata funds without disclosing any balance sheets from funds, ongoing problems with fire safety, and providing completely false and fabricated figure of 18% inflation rate over three last years:

    SP52948-Chairperson-John-Gore-misleading-and-false-statements-agenda-AGM-2023.png

    Even layman can easily confirm that figure for official inflation rates of 18% for three years prior to 2023 were grossly inflated, false, and deliberately designed to coerce owners:

    Australia-official-inflation-rates-from-2020-to-2023.png

    Australian historical inflation rates at WorldData

    Australian historical inflation rates at MacroTrends

    Waratah Strata Management disallowed Lot 158 Motions for AGM 2023, to prevent proper management of the complex

    ... whilst sending this agenda to owners (full of errors and misleading statements)

    Waratah Strata Management received updated Lot 158 Motions for AGM 2023 and failed to respond to request to postpone the general meeting due to lack of information for owners and non-compliance with strata laws

  9. On 29 April 2021, for the first and only time, Waratah Strata Management shyly admitted negative balance in Admin Fund, without providing any details, and claiming that it was a temporary problem:

    SP52948-extract-from-non-compliant-committee-meeting-documenting-negative-balance-in-Admin-Fund-29Apr2021.png

    Owners were not informed about three quarters in FY 2021 with negative balance in Admin Fund:

    SP52948 Balance Status on 31 January 2021, Admin Fund negative balance of $18,794.90

    SP52948 Balance Status on 30 April 2021, Admin Fund negative balance of $25,254.77

    SP52948 Balance Status on 31 July 2021, Admin Fund negative balance of $22,323.34

  10. For first time in history of strata complex SP52948, Admin Fund had continuous negative balance two whole FY 2023 quarters (1 November 2022 to 31 January 2023, and then from 1 February 2023 to 30 April 2023):

    SP52948-first-time-in-history-Admin-Fund-continuous-negative-balances-for-two-FY-quarters-Apr2023.webp

  11. For first time in history of strata complex SP52948, Admin Fund had almost continuous negative balance in third FY 2023 quarter (1 May 2023 to 31 July 2023):

    SP52948-first-time-in-history-Admin-Fund-almost-continuous-negative-balances-for-third-FY-quarter-Jul2023.webp

  12. SP52948 Admin Fund had almost continuous negative balance in whole FY 2023 (1 September 2022 to 31 August 2023):

    SP52948-effects-of-Waratah-Strata-Management-on-Balance-Sheet-from-1Sep2022-to-31Aug2023

    SP52948-effects-of-Waratah-Strata-Management-on-Balance-Sheet-from-1Sep2022-to-31Aug2023.webp

  13. SP52948 Admin Fund had almost continuous negative balance in whole FY 2024 (1 September 2023 to 31 August 2024):

    SP52948-effects-of-Waratah-Strata-Management-on-Balance-Sheet-from-1Sep2023-to-31Aug2024

    SP52948-effects-of-Waratah-Strata-Management-on-Balance-Sheet-from-1Sep2023-to-31Aug2024.webp

  14. SP52948 Admin Fund balances stayed negative at each beginning and end of financial quarters since 31 August 2023, until 1 February 2025, but this small positive balancer disappeared quite early in February 2025 and would again stay in significant deficit until next collection of levies on 1 May 2025:

    SP52948-graph-of-Admin-Fund-negative-balances-from-31Aug2023.webp

  15. Waratah Strata Management since 2017 failed to comply with SSMA 2015 and SSMR 2016 five times for Annual General Meetings, whilst in other two years the Auditor's Report at AGMs in SP52948 was highly questionable:

    Waratah-Strata-Management-non-compliance-of-SP52948-Auditor-reports

  16. SP52948 Balance Status on 30 January 2022, Admin Fund has negative balance of $116,068.14 (2 days before next collection of levies is due on 1 February 2022)

  17. SP52948 Balance Status on 11 March 2022, Admin Fund has negative balance of $16,236.00 (more than one and a half months before next collection of levies is due on 1 May 2022)

  18. SP52948 Balance Status on 19 March 2022, Admin Fund has negative balance of $23,536.87 (around one and a half moths before next collection of levies is due on 1 May 2022)

  19. SP52948 Balance Status on 13 April 2022, Admin Fund has negative balance of $61,745.99 (17 days before next collection of levies is due on 1 May 2022)

  20. SP52948 Balance Status on 23 April 2022, Admin Fund has negative balance of $86,877.20 (7 days before next collection of levies is due on 1 May 2022)

  21. SP52948 Balance Status on 29 April 2022, Admin Fund has negative balance of $93,147.13 (3 days before next collection of levies is due on 1 May 2022)

  22. SP52948 Balance Status on 28 July 2022, Admin Fund has negative balance of $61,290.57 (3 days before next collection of levies is due on 1 August 2022)

  23. SP52948 Balance Status on 7 October 2022, Admin Fund has negative balance of $131,239.39 (4 weeks before next collection of levies is due on 1 November 2022)

  24. SP52948 Balance Status on 10 October 2022, Admin Fund has negative balance of $167,486.93 (3 weeks before next collection of levies is due on 1 November 2022)

  25. SP52948 Balance Status on 27 October 2022 - day of Annual General Meeting, Admin Fund has negative balance of $203,914.85 (4 days before next collection of levies is due on 1 November 2022)

  26. SP52948 Balance Status on 4 November 2022 - four days after collection of new levies in amount of $187,502.16 on 1 November 2022, Admin Fund already had negative balance of $22,211.27, and the next collection of levies was almost three months away on 1 February 2023. No significant income occurred in that period, only significant expenses

  27. SP52948 Balance Status on 16 November 2022 - 16 days after collection of new levies in amount of $187,502.16 on 1 November 2022, Admin Fund already had negative balance of $60,224.67, and the next collection of levies was almost three months away on 1 February 2023. No significant income occured in that period, only significant expenses

  28. SP52948 Balance Status on 14 December 2022 - 44 days after collection of new levies in amount of $187,502.16 on 1 November 2022, Admin Fund already had negative balance of $118,269.42, and the next collection of levies was almost two months away on 1 February 2023. No significant income occurred in that period, only significant expenses

  29. SP52948 Balance Status on 25 December 2022 - Admin Fund had negative balance of $130,200.95, and the next collection of levies was almost more than a month away on 1 February 2023. No significant income occurred in that period, only significant expenses

  30. SP52948 Balance Status on 20 January 2023 - Admin Fund had negative balance of $134,323.44 (and that does not yet include overdue payments to Insurance company in amount of $4,545.45 and monthly salary to Uniqueco Property Services in amount of around $28,000.00) and the next collection of levies is almost two weeks away on 1 February 2023. No significant income will occur in that period, only significant expenses

  31. SP52948 Balance Status on 25 January 2023 - Admin Fund had negative balance of $166,116.59 (and that did not yet include overdue payments to Insurance company in amount of $4,545.45) and the next collection of levies was almost a week away on 1 February 2023. No significant income occurred in that period, only significant expenses

  32. SP52948 Balance Status on 5 March 2023 - Admin Fund had negative balance of $53,528.53 and the next collection of levies was almost two months away on 1 May 2023. No significant income occurred in that period, only significant expenses

  33. SP52948 Balance Status on 15 March 2023 - Admin Fund had negative balance of $90,855.41 and the next collection of levies was almost month and a half away on 1 May 2023. No significant income occurred in that period, only significant expenses.

  34. SP52948 Balance Status on 3 April 2023 - Admin Fund had negative balance of $100,877.00 and the next collection of levies was almost one month away on 1 May 2023. No significant income occurred in that period, only significant expenses.

  35. SP52948 Balance Status on 30 April 2023 - Admin Fund had negative balance of $173,000.75 and the next collection of levies was one day away on 1 May 2023. No significant income occurred in that period, only expenses.

  36. SP52948 Balance Status on 1 May 2023 - Admin Fund had positive balance of $39,621.36 on the day of new collection of levies.

  37. SP52948 Balance Status on 9 May 2023 - Admin Fund again entered negative balance of $8,086.81 and the next collection of levies was more than two and half months away on 1 August 2023. No significant income occurred in that period, only significant expenses.

  38. SP52948 Balance Status on 30 May 2023 - Admin Fund had negative balance of $18,745.31 and the next collection of levies wss two months away on 1 August 2023. No significant income occurred in that period, only significant expenses.

  39. SP52948 Balance Status on 27 June 2023 - Admin Fund had negative balance of $66,391.95 and the next collection of levies was more than one month away on 1 August 2023. No significant income occurred in that period, only significant expenses.

  40. SP52948 Balance Status on 12 July 2023 - Admin Fund had negative balance of $115,570.28 and the next collection of levies was 19 days away on 1 August 2023. No significant income occurred in that period, only significant expenses.

  41. SP52948 Balance Status on 18 August 2023 - Admin Fund had low balance of $19,496.20 and the next collection of levies was two and half months away on 1 November 2023.

  42. SP52948 Balance Status on 31 August 2023 - Admin Fund had positive balance of $18,759.11 (but then changed to positive balance of only $10.652.86 on 16 September 2023) and the next collection of levies was a month and half away on 1 November 2023. Balance status was kept around the same positive value for last two weeks of August 2023, in spite of fact that lot of work and invoices were moved to September 2023 so that FY 2023 (ending on 31 August 2023) gave apperance of good financial status. No significant income occurred in that period, only significant expenses (insurance renewal, two months for building manager monthly salaries, two months for strata management salaries, two months for utilities, and more).

    Waratah Strata Management changed their own data in Income & Expenditure Report for 31 August 2023 (end of financial year) and three different versions were found in late evening on 31 August 2023, 6 September 2023, and 16 September 2023, generating a result which is almost 57 percent lower on 16 September 2023 than on 31 August 2023:

    SP52948-three-different-versions-Admin-Fund-balance-31Aug2023.png

  43. SP52948 Balance Status on 13 September 2023 - Admin Fund had negative balance of $37,050.64 and the next collection of levies was more than one and half months away on 1 November 2023. No significant income occurred in that period, only significant expenses (insurance renewal, one months for building manager monthly salaries, one months for strata management salaries, utilities, and more).

  44. SP52948 Balance Status on 11 October 2023 - Admin Fund had negative balance of $239,193.82 and the next collection of levies was two and half weeks away on 1 November 2023. No significant income occurred in that period, only significant expenses (one months for building manager monthly salaries, utilities, and more).

  45. SP52948 Balance Status on 18 October 2023 - Admin Fund had negative balance of $272,482.76 and the next collection of levies was two weeks away on 1 November 2023. No significant income occurred in that period, only significant expenses (one months for building manager monthly salaries, and more).

  46. SP52948 Balance Status on 26 October 2023 - Admin Fund had negative balance of $307,580.90 without disclosure to owners at AGM 2023 and the next collection of levies was a week away on 1 November 2023. No significant income occurred in that period.

  47. SP52948 Balance Status on 31 October 2023 - Admin Fund had higest ever negative balance of $312,113.03.

  48. SP52948 Balance Status on 1 November 2023 when new collection of levies happened - Admin Fund already had negative balance of $106,308.01 without disclosure to owners at AGM 2023 and the next collection of levies was three months away on 1 February 2024. No significant income occurred in that period.

  49. SP52948 Balance Status on 29 November 2023 - Admin Fund had negative balance of $131,161.52 without disclosure to owners and the next collection of levies was more than two months away on 1 February 2024. No significant income occurred in that period.

  50. SP52948 Balance Status on 6 December 2023 - Admin Fund had negative balance of $137,962.52 without disclosure to owners and the next collection of levies was two months away on 1 February 2024. No significant income occurred in that period.

  51. SP52948 Balance Status on 20 December 2023 - Admin Fund had negative balance of $182,702.29 without disclosure to owners and the next collection of levies was two and half months away on 1 May 2024. No significant income occurred in that period.

  52. SP52948 Balance Status on 31 January 2024 - Admin Fund had negative balance of $276,492.96 without disclosure to owners and the next collection of levies was one day away on 1 February 2024. No significant income occurred in that period.

  53. SP52948 Balance Status on 14 February 2024 - Admin Fund had negative balance of $87,895.04 without disclosure to owners and the next collection of levies two and half months away on 1 May 2024. No significant income occurred in that period.

  54. SP52948 Balance Status on 7 March 2024 - Admin Fund had negative balance of $187,689.84 without disclosure to owners and the next collection of levies was one and half months away on 1 May 2024. No significant income occurred in that period.

  55. SP52948 Balance Status on 10 April 2024 - Admin Fund had negative balance of $250,998.12 without disclosure to owners and the next collection of levies was three weeks away away on 1 May 2024. No significant income occurred in that period.

  56. SP52948 Balance Status on 30 April 2024 - Admin Fund had negative balance of $251,697.41 without disclosure to owners and the next collection of levies was on 1 May 2024.

  57. SP52948 Balance Status on 1 May 2024 - in spite of start of new financial quarter, Admin Fund already had negative balance of $3,632.01 without disclosure to owners and the next collection of levies was three months away on 1 August 2024. No significant income occurred in that period.

  58. SP52948 Balance Status on 16 June 2024 - Admin Fund had negative balance of $164,511.55 without disclosure to owners and the next collection of levies was one and half months away on 1 August 2024. No significant income occurred in that period.

  59. SP52948 Balance Status on 31 July 2024 - Admin Fund had negative balance of $261,781.53 without disclosure to owners and the next collection of levies was one and half months away on 1 August 2024.

  60. SP52948 Balance Status on 1 August 2024 - Admin Fund had negative balance of $16,766.81 without disclosure to owners that the next collection of levies was three months away on 1 November 2024. No significant income occurred in that period.

  61. SP52948 Balance Status on 8 August 2024 - Admin Fund had negative balance of $63,048.35 without disclosure to owners that the next collection of levies was almost three months away on 1 November 2024. No significant income occurred in that period.

  62. SP52948 Balance Status on 31 August 2024, end of FY 2024 - Admin Fund had negative balance of -$45,584.29 without disclosure to owners that the next collection of levies was two months away on 1 November 2024.

    Five different versions of this figure exist: -$76,650.88 in report on 31 August 2024, -$82,495.29 in report on 5 September 2023, -$89.919.55 in report on 13 September 2024, -$71,490.05 in report on 17 September 2024, and -$45,584.29 on 18 October 2024.

    No significant income occurred in that period.

  63. SP52948 Balance Status on 13 September 2024 - Admin Fund had negative balance of -$140,003.50 without disclosure to owners that the next collection of levies was one and a half months away on 1 November 2024. No significant income occurred in that period.

  64. SP52948 Balance Status on 26 September 2024 - Admin Fund had negative balance of -$124,073.56 and did not include total costs for half-year insurance renewal costs in amount of $134,959.31 (GST excl) which Waratah Strata Management hid (additional fees: FSL, Insurer Agency Policy Fee, Stamp Duty, Agent Fee) without disclosure to owners that the next collection of levies was more than one month away on 1 November 2024. No significant income occurred in that period.

  65. SP52948 Balance Status on 16 October 2024 - Admin Fund had negative balance of -$194,340.99 and did not include total costs for half-year insurance renewal costs in amount of $134,959.31 (GST excl) which Waratah Strata Management hid (additional fees: FSL, Insurer Agency Policy Fee, Stamp Duty, Agent Fee) without disclosure to owners that the next collection of levies was more than one month away on 1 November 2024. No significant income occurred in that period.

  66. SP52948 Balance Status on 23 October 2024 - Admin Fund had negative balance of -$294,324.93 without disclosure to owners that the next collection of levies was one week away on 1 November 2024. Insurance premium for half-year renewal listed at $122,690.28 but in insurance company’s own document it was $134,959.31. No significant income occurred in that period.

  67. SP52948 Balance Status on 25 October 2024 - Admin Fund had negative balance of -$325,061.80 without disclosure to owners that the next collection of levies was one week away on 1 November 2024. No significant income occurred in that period.

  68. SP52948 Balance Status on 31 October 2024 - Admin Fund had negative balance of -$325,061.80 without disclosure to owners. Highest negative balance in Admin Fund ever achieved. End of FY quarter, allegedly no additional expenses since 25 October 2024.

    The figure of -$325,061.80 did not include $122,690.28 insurance premium (GST excl) for the second half of FY 2025. Taking that into account, more realistic negative balance (deficit) in Admin Fund on 31 August 2024 would be $447,752.08.

    Economos Auditor, who along with Waratah Strata Management, failed to comply with SSMA 2015 and SSMR 2016 four times for SP52948 Annual General Meetings since 2018 (and provid ed questionable figures for other two years), reported in their FY 2024 audit on 21 October 2024 that Section 79 Part (3) requires when estimating amounts needed to be credited to the administrative fund or the capital works fund, the owners corporation must have before it, and take into account, a statement of the existing financial situation of the strata scheme and an estimate of receipts and payments. They also categorically stated that the 'Act' allows for loans between funds, but not for a period greater than 3 months. Strata Schemes Management Act 2015, Section 76 Part (2) states that "The Owner's Corporation must, not later than 3 months after the transfer or use, determine by resolution at a general meeting whether the money, or part of the money, should be reimbursed to the fund from which it was transferred or paid."

    That was not done in SP52948 (illegal movement of money):

    13/09/2023, -$37,050.64, 13 days after collection of new levies

    31/10/2023, -$312,113.03 End of FY quarter

    1/11/2023, -$106,308.01 After collection of new levies

    31/01/2024, -$309,762.23 End of FY quarter; November 2023 monthly salary for building manager Uniqueco Property Services in amount of $29,866.24 (GST excl) hidden until late F ebruary 2024

    01/02/2024, -$60,370.94 After collection of new levies

    30/04/2024, -$251,697.41 End of FY quarter

    01/05/2024, -$3,632.01 After collection of new levies

    31/07/2024, -$261,781.53 End of FY quarter

    01/08/2024, -$16,766.81 After collection of new levies

    31/08/2024, -$45,584.29 End of FY 2024

    31/10/2024, -$325,061.80 End of FY quarter

    01/11/2024, -$80,061.80 After collection of new levies

  69. SP52948 Balance Status on 1 November 2024 - Admin Fund had negative balance of -$80,061.80 without disclosure to owners that the next collection of levies was three months away on 1 February 2025. No significant income occurred in that period.

  70. SP52948 Balance Status on 16 December 2024 - Admin Fund had negative balance of -$183,325.61 without disclosure to owners that the next collection of levies was one and half months away on 1 February 2024. No significant income occurred in that period.

  71. SP52948 Balance Status on 8 January 2025 - Admin Fund had negative balance of -$204,274.84 without disclosure to owners that the next collection of levies was three weeks away on 1 February 2025. No significant income occurred in that period.

  72. SP52948 Balance Status on 15 January 2025 - Admin Fund had negative balance of -$211,143.81 without disclosure to owners that the next collection of levies was more than two weeks away on 1 February 2025. No significant income occurred in that period.

  73. Predictable manipulation of financial status on 29 January 2025, which Lot 158 announced to five managers at Waratah Strata Management and majority of committee members on 17 January 2025, as part of preparation for NCAT Hearing in case 2024/00454780 - difference between Admin Fund balance in the morning and afternoon was more than $81,000.00. As usual, owners were not informed about it:

    SP52948-massive-differences-in-Admin-Fund-between-morning-and-afteroon-29Jan2025

    SP52948-massive-differences-in-Admin-Fund-balance-between-morning-and-afteroon-29Jan2025.webp

    SP52948 Balance Status in morning on 29 January 2025 - Admin Fund had negative balance of -$211,864.18 without disclosure to owners that the next collection of levies was two days away on 1 February 2025. No significant income occurred in that period.

    SP52948 Balance Status in afternoon on 29 January 2025 - Admin Fund had negative balance of -$282,251.22 without disclosure to owners that the next collection of levies was two days away on 1 February 2025. No significant income occurred in that period.

  74. SP52948 Balance Status on 30 January 2025 - Admin Fund had negative balance of -$299,433.75 without disclosure to owners that the next collection of levies was two days away on 1 February 2025. No significant income occurred in that period.

  75. SP52948 Balance Status on 31 January 2025 - Admin Fund had negative balance of -$299,011.55 without disclosure to owners that the next collection of levies was one day away on 1 February 2025. No significant income occurred in that period.

  76. SP52948 Balance Status on 1 February 2025 - Admin Fund had positive balance of only $25,988.45 on the day of new levy collections, without disclosure to owners that the next collection of levies was three months away on 1 May 2025. No significant income occurred in that period.

  77. SP52948 Balance Status on 12 February 2025 - Admin Fund had positive balance of just $6,036.38, without disclosure to owners that the next collection of levies was more than two and half months away on 1 May 2025. No significant income occurred in that period.

  78. SP52948 Balance Status on 19 February 2025 - Admin Fund had negative balance (deficit) of -$48,227.14, without disclosure to owners that the next collection of levies was more than two months away on 1 May 2025. No significant income occurred in that period.

  79. SP52948 Balance Status on 19 March 2025 - Admin Fund had negative balance (deficit) of -$123,138.91, without disclosure to owners that the next collection of levies was more than six weeks away on 1 May 2025. In spite of serious cash flow problems, Waratah Strata Management authorised payments in amount of $13,208.17 for legal expenses. No significant income occurred in that period.

  80. SP52948 Balance Status on 26 March 2025 - Admin Fund had negative balance (deficit) of -$277,854.69, without disclosure to owners that the next collection of levies was more than five weeks away on 1 May 2025. In spite of serious cash flow problems, Waratah Strata Management authorised payments in amount of $13,238.17 for legal expenses. No significant income occurred in that period.

  81. SP52948 Balance Status on 2 April 2025 - Admin Fund had negative balance (deficit) of -$286,433.12, without disclosure to owners that the next collection of levies was one month away on 1 May 2025. No significant income occurred in that period.

  82. SP52948 Balance Status on 16 April 2025 - Admin Fund had negative balance (deficit) of -$329,474.52, without disclosure to owners that the next collection of levies was two weeks away on 1 May 2025. No significant income occurred in that period.

  83. SP52948 Balance Status on 23 April 2025 - Admin Fund had negative balance (deficit) of -$374,482.58, without disclosure to owners that the next collection of levies was one week away on 1 May 2025. No significant income occurred in that period.

  84. SP52948 Balance Status on 30 April 2025 - Admin Fund had negative balance (deficit) of -$375,415.62, without disclosure to owners that the next collection of levies was one day away on 1 May 2025. No significant income occurred in that period.

  85. SP52948 Balance Status on 1 May 2025 after collection of new levies - Admin Fund had negative balance (deficit) of -$50,415.62, without disclosure to owners that the next collection of levies was three months away on 1 August 2025. No significant income occurred in that period.

  86. Insurance premiums are very costly:

    SP52948-insurance-premium-changes-since-1997

    Graph of insurance premium changes since 1997, where in 2025 Waratah Strata Management made complex renewals (two times, in September 2024 and March 2025):

    SP52948-graph-of-insurance-premium-changes-since-1997.webp