Lot 158 finally starting to achieve results: NSW Fair Trading letter on 17 October 2023, confirming that Waratah Strata Management failed to comply with regulations for Auditor's reports (and this is just the beginning of troubles for this strata agency):
Nine committee members were asked to inform all owners about NSW Fair Trading update on 18 October 2023 and they did not respond:
On 19 October 2023, Director of Uniqueco Property Services was given one-page document to put on or near six notice boards. Mr. Steve Carbone pretended that he had to ask Mr. Robert Crosbie (Director of Waratah Strata Management) for permission to publish it, and then never completed the task to comply with Lot 158 request:
SP52948-Lot-158-notice-board-v2-19Oct2023
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 extreme 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...
Justice McCallum publicly stated:
Extensive media reporting of allegations of criminal conduct is not a mischief in itself. On the contrary, it is appropriate to recognise that the media play an important role in drawing attention to allegations of criminal or other misconduct and any shortcomings in the treatment of such allegations.
Waratah Strata Management relies on herd mentality (consensus, social proof), where a limited group of owners (only around 30% of all owners) keep supporting strata manager's actions in fear of being "left out", without having access to relevant strata files.
Let readers decide if Waratah Strata Management complies with Property and Stock Agents Regulation 2022 (previously Property, Stock and Business Agents Act 2002), Strata Schemes Managament Act 2015, Strata Schemes Management Regulation 2016, Code of Ethics - Strata Community Association (NSW), strata plan SP52948 By-Laws, and other applicable laws. Does Waratah Strata Managament meet the monetary obligations required for strata complexes such as the payment of dues and proper collection of levies? Does Waratah Strata Management upholds the highest standards of integrity, responsible behavior, and ethical conduct in professional activities, treat all persons fairly and with respect, not engage in harassment or discrimination, and avoid injuring others? /p>
Waratah Strata Management refusal to co-operate in SP52948 Police Events
Waratah Strata Management Persistent Failures to Commission Legally-Compliant SP52948 Auditor Reports
Clause 21 of the Strata Schemes Management Regulations 2016 requires that the accounts and financial statements of the owners corporation with budget above $250,000.00 must be audited before presentation at Annual General Meeting (AGM) in accordance with Section 95 of the Strata Schemes Management Act 2015. That is what the law prescribes.
Poor accounting practices exist since 1999. BCS Strata Management was also actively involved in fraudulent financials:
This is irrefutable evidence to what level companies like BCS Strata Management (and later Waratah Strata Management) can manipulate accounting data, with help of financial auditors. In first six-monthly financial report on 28 February 2013, BCS Strata Management hid Solicitor Adrian Mueller's unauthorised legal costs in amount and listed only $200.00, but when pressured by Lot 98 and 158, changed the document in March 2013 with "updated" legal costs in amount of staggering $12,914.65:
Original SP52948 six-monthly balance sheet for period 1 September 2012 to 28 February 2013
and after the forced updates:
amended SP52948 six-monthly balance sheet for period 1 September 2012 to 28 February 2013
Just before the Annual General Meeting in October 2013, BCS Strata Management removed the amended financials again to ensure success of the meeting in their favour - Document ID 5304628 on their website disappeared forever:
Bamfield financial audit at AGM 2012 is another perfect example of fraud:
To start with, BCS Strata Management hid information from owners that Admin Fund had no money to pay bills, where branch manager Mr. Paul Banoob asked his staff to inject funds into SP52948 from the MBL account in the sum of $50,000.00, as per email on 4 July 2012:
Year 2012 (and 2013) were sources of multiple illegal activities by BCS Strata Management and Solicitor Adrian Mueller, with false evidence in two CTTT cases (SCS 12/32675 and SC 12/50460) and four fraudulent insurance claims for alleged legal costs of Solicitor Adrian Mueller:
Even Insurance Fraud Bureau of Australia declined to get involved in serious insurance fraud, as this email on 5 April 2017 showed:
Thanks to Lot 158 persistence, in 2017 CHU Insurance forced SP52948 to repay $8,800.00:
BCS Strata Management sent agenda for AGM on 4 October 2012, with Bamfield Auditor report which was signed on 25 August 2012, five days before actual end of financial year, but allegedly presented to strata manager on 26 September 2012:
On 8 October 2012, Chairperson Bruce Copland, in panic, sent secret email to strata manager reporting many problems with audited accounts. Among the others, The accounts attached to the AGM notice had no comparative figures for previous five-year period and reported Admin Fund having $61,904.00 whereas the real balance was only $16,372.00, and Sinking Fund was reported having $742,593.00 whereas the real balance was $800,300.00:
Instead of asking Bamfield for new audit, BCS Strata Management simply sent another falsified accounts in addendum on 11 October 2012 (prepared on 9 October but sent two days later for AGM scheduled for 17 October 2012, not giving sufficient time for owners to receive the notice that would be legally compliant - not counting date of postage, weekend, and day of general meeting only three days were allowed for notice delivery):
SP52948-alleged-financial-status-for-AGM-4Oct2012
SP52948-alleged-financial-status-for-AGM-9Oct2012
It did not make any sense that AGM agenda on 4 October 2012 sent "wrong" version of financials dated 18 September 2012 when there was another (allegedly corrected) version dated 21 September 2012
At AGM on 17 October 2012, Chairperson Bruce Copland provided full set of false statements about errors in audited accounts (including alleged amendment of date of the audit from 26 August 2012 to 26 September 2012, as extract from official minutes of the meeting confirmed:
Eight years later, in spite of alleged ransomware attack on Waratah Strata Management website in 2019 and lost USB key with all strata files in April 2018, Waratah Strata "managed" to find and publish SP52948 audited accounts for FY 2012 - still available on their website as of February 2024. The report contained original (falsified) Bamfield's letterhead dated 26 September 2012, BCS Strata Management stamp on it dated 27 September 2012, and Bamfield's signature on page 4 dated 26 August 2012. By publishing this falsified report, Waratah Strata Management became accessory to crime after the event - they even forged date of published report as 27 September 2012 (screenshot and video of Waratah Strata website proved it on 8 February 2024):
Like Economos auditor Mr. George Venardos since 2018, in previous years Bamfield auditor Mr. Mario Raciti and Hayes Knight auditor Mr. Mario Raciti (Bamfield was acquired) also refused to take actions when questioned about poor quality and unprofessional work:
SP52948-Lack-of-responses-and-actions-by-Hayes-Knight-as-of-24Feb2015
It is difficult for any reasonable person to explain this kind of financial accounting by Waratah Strata Management in 2018/2019. As usual, Waratah Strata Management stayed silent when asked to explain their "quality of services":
Economos auditor Mr. George Venardos also stayed silent when questioned about their quality of audit:
NSW Fair Trading tried to engage owners corporation to conduct proper forensic auditors two times in cases 7563482 on 25 May 2015 and 7938059 on 9 October 2015, but BCS Strata Management and later Waratah Strata Management never allowed it:
Department-of-Fair-Trading-proposing-forensic-auditor-for-AGM-voting-April-2015
SP52948-BCS-Strata-Management-auditor-report-missing-for-owners-in-notice-for-AGM-2015
SP52948-BCS-Strata-Management-declined-to-attend-free-mediation-at-Fair-Trading-NSW-25Nov2015
- SP52948-questionable-legal-costs-in-FY-2020
Motion from AGM 2019, trying to prevent owners of Lot 158 to raise questions about finance and maintenance, allegedly allowing $150,000.00 to be spent on defamation case, without giving owners information that Waratah Strata Management and committee members already engaged Solicitor who prepared 13-page document before the AGM and tried to force Lot 158 into signing preposterous Deed. In financial statements for FY 2020, in spite of extensive legal involvement, Waratah Strata Management logged only $2,940.00 for legal costs.
Waratah Strata Management since 2017 failed to comply with SSMA 2015 and SSMR 2016 five times, whilst in other two years the Auditor's Report in our complex was highly dubious and questionable.
Economos Auditor Mr. George Venardos made the following stunning admission about being directly involved in timing of SP52948 audits since 2018 (in spite of knowing that he deliberately acted in non-compliance with SSMA 2015 Section 95 and SSMR 2016 Regulation 21):
Based on praise Economos Auditor Mr. George Venardos published on their website (including offering of expert witness work at court), he was approached five times since 2019, and he refused to take any action. Examples:
SP52948-fourth-request-to-Economos-to-help-NCAT-case-and-provide-evidence-20Dec2020
Economos was asked to take very simple steps and they failed:
a) Properly address all items individually in five emails that Lot 158 sent to him in the past (including correction of accounting data where applicable).
Ethically, they should also offer an apology for Lot 158 and Chartered Accountants Australia and New Zealand waste of time.
b) Make amendments of his auditors reports that need to be shared with all owners for previous years. A simple letter to all owners and Waratah Strata Management that Economos acknowledged the following:
In FY 2018, signed audited accounts differ from what Waratah Strata Management published for owners in agenda for general meeting (auditor report was 1 day late after due date on 18 October 2018 and not published even as late as 29 May 2019)
In FY 2019, due to loss of strata files in alleged ransomware attack, it was impossible for Economos to audit invoices and other documents
In FY 2020, Economos failed to comply with STRATA SCHEMES MANAGEMENT ACT 2015 – SECT 95, and STRATA SCHEMES MANAGEMENT REGULATION 2016 – REG 21 (auditor report was 13 days late after due date on 22 October 2020, copy never sent to owners in emails or via post)
In FY 2022, Economos failed to comply with STRATA SCHEMES MANAGEMENT ACT 2015 – SECT 95, and STRATA SCHEMES MANAGEMENT REGULATION 2016 – REG 21 (auditor report was 43 days late after due date on 27 October 2020, copy never sent to owners in emails or via post)
In FY 2023, Economos failed to comply with STRATA SCHEMES MANAGEMENT ACT 2015 – SECT 95, and STRATA SCHEMES MANAGEMENT REGULATION 2016 – REG 21 (auditor report was 46 days late after due date on 26 October 2020, and only made available on Waratah Strata Management website on 14 December 2023, copy never sent to owners in emails or via post)
Economos did not respond, or complain about "anonymous" submission UNTIL the FIFTH report (three and half years of lack of actions):
Our first email on 31 August 2019 was ignored
Our second email on 1 September 2019 was ignored
Our third email on 22 December 2019 was ignored
Our fourth email on 20 December 2020 was ignored
Our fifth email on 12 February 2023 was finally replied to on 15 February 2023, albeit without any substantial investigation on their side.
That does not sound like a professional or ethical company.
Response by Mr. Venardos dated 18 April 2023 was subjective, generic, without substance, and plainly misleading (for example, he was never accused of doing FY 2023 accounts at that time). This is a biased response (without any knowledge of facts) he presented to Senior Advocate – Conduct & Discipline at Chartered Accountants Australia and New Zealand (case PC - 003660):
"The overall matters of complaint fall within another forum, namely the jurisdiction of NCAT. The complainant has unsuccessfully complained to NCAT and has been fairly dealt with. The negative balances in the administration fund etc the subject of this complaint falls within the audit year 31st August 2023, which has not as yet been audited and cannot be done until year end. I believe the complainant has no standing in that he is trivial, vexatious and has acted in bad faith particularly as he sends anonymous emails."
Economos did not take any action to correct their accounting mistakes as reported for FY 2018.
Economos signed FY 2022 accounts with $10,000.00 missing, 43 days after the legal deadline for AGM 2023. That is $10,000.00 for unreported insurance claims and legal fees for Solicitor Adrian Mueller (SP52948-discrepancies-between-Solicitor-Adrian-Mueller-legal-and-insurance-payments-FY-2022-and-2023).
Economos also signed FY 2022 figures where SAME Solicitor's invoice was paid by Lot 158 AND Insurance company for 37 days (SP52948-Waratah-Strata-Management-involved-in-double-charges-for-fraudulent-legal-claims-by-Solicitor-Adrian-Mueller-NCAT-case-SC-20-33352):
Lot 158 payment in amount of $5,000.00 (GST excl) to SP52948: 2 July 2022
SP52948 reimbursement in amount of 4,545.00 (GST excl) to AIG Insurance: 8 August 2022 (delay of 37 days)
Mr. Venardos claims, on their website:
"I pick up the phone at every opportunity and push the right buttons to get the job done."
What a touching self-praise.
Economos makes the following misleading statement on their website:
"We believe our clients essentially want one thing: to get things done.
Our job is to create an environment for our clients where they can do what they do best – run their business. This may mean that we:
Return correspondence quickly
Get compliance done – on time and on budget
Meet with the client regularly
Offer the best advice we can
Stay abreast of new rules and opportunities
If we can get our job done – the client can get theirs done."
Economos makes the following misleading statement on their website:
"Economos has grown to be a respected provider of a full range of accounting and financial services."
Economos makes the following misleading statement on their website:
"All reconciliation and financial statement, analysis and preparation is priced up front and will be based on the needs of your agency to deliver your Owners Corporations with the financial reporting required to meet their needs."
Anonymously complaining about issues is valid, especially when one needed to establish the fact if the receiving party was trustworthy and not endangering the sender.
Does this not apply? Auditors and members of audit teams have legal obligations under the Corporations Act 2001 (Corporations Act) if they receive a revelation from a whistleblower. Unless audit staff handle the revelation correctly they may inadvertently breach the Act. The quality of the audit may be in jeopardy.
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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.
Table of SP52948 audits since 2017:
Graph of serious negative balance in Admin Fund since 1 February 2017 when Waratah Strata Management took office speaks for itself:
Thanks to Waratah Strata Management, SP52948 Admin Fund had almost continuous negative balance in whole FY 2023 and 2024:
SP52948-negative-trends-with-Admin-Fund-under-Waratah-Strata-Management.html
Many times an owner in a large strata complex requested access to strata files, including Auditor's Reports. Waratah Strata Management never responded:
SP52948-missing-insurance-policy-2Feb2021
SP52948-missing-insurance-policy-and-payments-27Sep2022
Silence was Waratah Strata Management response.
Alleged Auditor's Report for FY 2017 was not attached to agenda for Annual General Meeting in October 2017.
In two strata document searches (31 May 2019 and 20 September 2019), Auditor's Report for FY 2017 was not found and Waratah Strata Management staff ignored the complaint about it. Two document searches on 31 May 2019 and 20 October 2019 did not locate Cash Receipts reports for last seven years, with special emphasis on FY 2017, 2018, and 2019 and they were also not included in the agenda for relevant general meetings.
SP52948-SSMA2015-S182-Document-viewing-undisclosed-files-by-Waratah-Strata-Management-20Sep2019
Auditor's Report for FY 2017 was not available on Waratah Strata website for two and half years, even as late as 8 March 2020. Screenshots of Waratah Strata Management website with only 76 documents for period since they took office on 1 February 2017:
SP52948-waratahstrata.com.au-website-Documents-folder-part-1-8Mar2020
SP52948-waratahstrata.com.au-website-Documents-folder-part-2-8Mar2020
SP52948-waratahstrata.com.au-website-Documents-folder-part-3-8Mar2020
SP52948-waratahstrata.com.au-website-Documents-folder-part-4-8Mar2020
In April 2018, Waratah Strata Management urged the Police to "not waste time on these false allegations". Detective Sargeant from Ryde Proactive Crime Team lost all evidence on USB key and hid that incident for almost a year, whilst frantically trying to obtain another copy of the USB key from Waratah Strata Management and BCS Strata Management. When he could not get the evidence, he simply closed the case, without notifying the reporting party, and moved to a promoted role within the Police force:
In Fair Trading NSW case (Reference Number 9363613) on 19 May 2019, evidence was provided that Waratah Strata Management failed to provide audited reports for two years:
Extract from Waratah Strata Management Director's secret email to Fair Trading NSW shows he urged them not to investigate allegations of financial mismanagement on 17 May 2019. Fair Trading NSW complied with Director's wishes and did nothing
IGNORED-INQUIRY-by-NSW-Fair-Trading-without-any-details-of-allegedly-resolved-case-9761719-28Apr2020
Even on the day of Annual General Meeting, Auditor's Report was not provided to owners on 24 October 2017.
Two-page Auditor's Report for FY 2017 suddenly showed up on Waratah Strata website in late April 2020 (two and half years after the deadline). The report did not contain any details of which Balance Sheet and Income & Expenditure Report it audited. Even more, Auditor's Report was allegedly signed on 20 October 2017, but Waratah Strata Management backdated it on their website to 31 August 2017. Auditor's Report did not have any company logo of the auditor, it simply gave name of the person (redacted) and contained title "Registered Company Auditor 1275"):
SP52948-Audit-Report-FY-2017-appeared-after-two-and-half-years
Alleged Auditor's Report for FY 2017 was not attached to agenda for Annual General Meeting in October 2017.
Alleged Auditor's Report was published on Waratah Strata Management website on 31 August 2018 and cannot be considered to have valid date because the PDF file contained auditor's signed statement dated 18 October 2018 (same date as the Annual General Meeting), which would make the report dated 31 August 2018 achieving "travel to the future". Amazing scientific achievement:
SP52948-waratahstrata.com.au-website-Documents-folder-page-5-12May2020
Auditor's Report for FY 2018 contained Balance Sheet and Income & Expenditure Report dated 16 October 2018 at 16:05 hours, whilst Economos signed it only two days later on 18 October 2018:
In two strata document searches (31 May 2019 and 20 September 2019), Auditor's report for FY 2018 was not found and Waratah Strata Management staff ignored the complaint about it. Two document searches on 31 May 2019 and 20 October 2019 did not locate Cash Receipts reports for last seven years, with special emphasis on FY 2017, 2018, and 2019 and they were also not included in the agenda for relevant general meetings.
Even on the day of Annual General Meeting, Auditor's Report was not provided to owners on 18 October 2018.
Alleged Auditor's Report for FY 2019 was attached to agenda for Annual General Meeting in 2019. Auditor's report contained Balance Sheet and Income & Expenditure Report dated 20 September 2019 at 12:37 hours, whilst Economos signed it on the same day on 20 September 2019:
Copy of detailed income was not attached to the agenda.
Admin Fund had negative balance (deficit) of $131,852.25 on the day of Annual General Meeting on 17 October 2019. Waratah Strata Management declined to notify owners about it:
SP52948-balance-sheet-for-Admin-Fund-on-day-of-general-meeting-17Oct2019
An owner hired O’Brien Criminal & Civil Solicitors and requested access to strata files, including Auditor's Reports. Here is what Solicitor Adrian Mueller, hired by Waratah Strata Management, wrote in his response (he denied access to strata files and even admitted they were not available):
Turning to the requests set out in your letter, the representatives of the owners corporation have instructed us to reject them.
This owner (name redacted) has undertaken repeated inspections of the records of the owners corporation. The representatives of the owners corporation consider that all available records of the owners corporation were made available to them during those inspections as a result of which if they do not have any records that they desires that is because those records are likely not available.
Equally importantly, if this owner is truly prepared to confine his communications to matters relating to the maintenance and repair of this owner only, and to cease and desist from disseminating what the representatives of the owners corporation consider to be defamatory material about them, then what is the purpose of them pressing for the records to be produced to him?
In the circumstances, the representatives of the owners corporation do not consider that there is any merit in their request for those records to be provided to them and they are not prepared to agree to the request.
The strata legislation imposes on the owners corporation a duty to maintain and repair the common property. This means there is no need for the Deed to be amended to give them the same rights in relation to the maintenance of his property as the rights that are enjoyed by other owners.
Special note for public, as of January 2023, there are still four outstanding repairs of common property in the owner's unit, which Waratah Strata Management ignores. Further more, fire safety orders for major repairs are still outstanding, two years after their issue by City of Ryde Council. Waratah Strata Management refuses to provide owners with copy of the orders.
Alleged Auditor's Report for FY 2020 was not attached to agenda for Annual General Meeting in 2020.
Auditor's report contained undated Balance Sheet and Income & Expenditure Report. Economos signed it on 3 November 2020:
Even on the day of Annual General Meeting, Auditor's Report was not provided to owners on 22 October 2020.
Auditor's Report for FY 2020 was signed on 3 November 2020, 13 days after the general meeting. Three versions of Balance Sheet exist, which raise questions of quality of reporting and auditing (Waratah Strata Management and Economos were approached many times to explain their dubious data in accounting - they never replied):
Balance-Sheet-31Aug2020-at-1943-hours Admin Fund Current Period Previous Year $233,330.15 $300,506.22 Capital Works Fund $709,724.06 $848,932.54 Balance-Sheet-extract-dated-4Sep2020-sent-in-agenda-for-AGM-on-30Sep2020 Admin Fund Current Period Previous Year $232,620.15 $300,506.22 Capital Works Fund $699,824.06 $848,932.54 Balance-Sheet-allegedly-approved-by-Economos-3Nov2020 Admin Fund Current Period Previous Year $231,788.69 $300,506.22 Capital Works Fund $699,824.06 $848,932.54
Alleged Auditor's Report for FY 2021 was attached to agenda for Annual General Meeting in October 2021.
Copy of detailed income was not attached to the agenda.
Admin Fund had balance of only $1,019.14 on the day of Annual General Meeting on 28 October 2021. Waratah Strata Management declined to notify owners about it. Three days later, Admin Fund balance jumped to massive negative amount (deficit) of $120,210.65:
SP52948-balance-sheet-for-Admin-Fund-on-day-of-general-meeting-28Oct2021
SP52948-balance-sheet-for-Admin-Fund-31Oct2021
Auditor's Report contained undated Balance Sheet and Income & Expenditure Report. Economos signed the report on 29 September 2021:
Alleged Auditor's Report for FY 2022 was not attached to agenda for Annual General Meeting in October 2022.
Extract from minutes of Annual General Meeting on 27 October 2022 confirmed problems with the financial audit:
SP52948-extract-from-minutes-AGM-2022-reporting-missing-financial-auditor-report-27Oct2022
Auditor's Report contained undated Balance Sheet and Income & Expenditure Report. Economos signed the report on 7 December 2022 43 days after the NSW strata laws and regulations schedule:
Admin Fund had negative balance (deficit) of $203,914.85 on the day of Annual General Meeting on 27 October 2022. Waratah Strata Management declined to notify owners about it:
SP52948-negative-balance-in-Admin-Fund-27Oct2022
In Income & Expenditure Reports in July 2022, Waratah Strata Management listed $4,545.45 (GST exclusive) as revenue in accounting code 144000 under name "Miscellaneous Income--Admin", and $19,758.14 (GST exclusive) in accounting code 142000 Insurance Claims. Waratah Strata Management charged insurance company and an owner for the same alleged legal costs for Solicitor who was illegally engaged in NCAT case SC 20/33352 (Solicitor was not approved at ny legally-convened general meeting). In all Income & Expenditure Reports in August 2022 Waratah Strata Management hid $4,545.45 (GST exclusive) revenue and also hid reimbursement to insurance company in the same amount. On 20 June 2022, 30 August 2022, and 8 June 2023 insurance company and insurance broker were notified about it (on 8 June 2023 all nine committee members were also notified and they chose to ignore the evidence):
SP52948-discrepancies-between-Solicitor-Adrian-Mueller-legal-and-insurance-payments-FY-2022-and-2023
SP52948-Income-and-Expenditure-Report-1Sep2021-to-12Jul2022
SP52948-Income-and-Expenditure-Report-1Sep2021-to-12Aug2022
SP52948-Income-and-Expenditure-Report-1Sep2021-to-19Aug2022
SP52948-Income-and-Expenditure-Report-1Sep2021-to-31Aug2022
SP52948-concerns-about-insurance-policy-QUSS042715-BCB-ref-94537-30Aug2022
Amount of $4,545.45 (GST exclusive) was listed as miscellaneous income during July 2022 but this income disappeared in August's financial reports and was not listed in allegedly signed Auditor's report 43 days after the general meeting!
Auditor's Report for FY 2022 was signed on 7 December 2022, 43 days after the Annual General Meeting on 27 October 2022.
Strata committee meeting dated 28 July 2022 (last committee meeting in FY 2022), as organized by Waratah Strata Management, did not satisfy requirements of Strata Schemes Management Act 2015 (SSMA), Schedule 2, Section 4 (1) and (2), and section 7, and Interpretation Act 1987 (NSW):
SP52948-non-compliant-committee-meeting-28Jul2022
Agenda was created on 26 July 2022 and scheduled for 28 July 2022. Excluding date of creation, meeting date, and the weekend, NO DAYS were allowed for delivery of notice to all owners. As per Strata Roll dated 31 January 2017, more than 32% of owners had requested postal delivery of notices – that figure is hidden from owners by Waratah Strata Management in subsequent years.
Agenda was not detailed, as required by SSMA 2015 and was not sent to all owners.
Owners did not receive any information about double charging for alleged Solicitor's costs: from an owner and insurance company. Accounting statement showed that insurance company was seemingly still not reimbursed for legal costs.
Admin Fund had negative balance of $61,290.57 on 31 July 2022, one day before next collection of levies on 1 August 2022 (owners did not receive any information about financial status):
SP52948-Income-and-Expenditure-Report-1Sep2021-to-31Jul2022
Waratah Strata Management website did not contain schedule for the meeting on 28 July 2022.
Waratah Strata Management website listed only one committee meeting for whole 2022.
Waratah Strata Management still refuses to inform owners about insurance claims and reimbursements.
Alleged Auditor's Report for FY 2023 was not attached to agenda for Annual General Meeting in October 2023.
Economos signed the report on 11 December 2023 46 days after the NSW strata laws and regulations schedule:
Admin Fund had negative balance (deficit) of $307,580.90 on the day of Annual General Meeting on 26 October 2023. Waratah Strata Management declined to notify owners about it:
SP52948-negative-balance-in-Admin-Fund-26Oct2023
For Admin Fund, approved balance at AGM on 26 October 2023 differed from one audited by Economos 46 days after due date by 74.04% ($10,652.86 vs $6,120.73).
Waratah Strata Management did not respond to following concerns about:
SP52948 AGM 2023 dubious invoices in amount of $122,843.87 (GST excl)
Document search at Waratah Strata Management on 8 June 2022 shows that only seven yearly audit reports exist for period 2000 to 2021:
The above screenshot contains evidence of further errors:
Audit Report for FY 2017 was made available (but not sent to any owner) only on 15 April 2020 (two and half years after the general meeting in 2017).
Audit Report for FY 2014 was actually the Audit for FY 2004 (information on the website is incorrect).
It is questionable where Audit Reports for FY 2004 and FY 2012 come from considering that fact that Waratah Strata Management reported alleged data breach where most of SP52948 files were destroyed in February 2019 (ransomware attack which did not disclose to owners that some alleged benefactor paid ransom to the threat actor in the equivalent amount of $5,052.03). It does not make any sense that ransom was paid but files were lost.
SP52948-Waratah-Strata-Management-organised-non-compliant-ordinary-committee-meetings-in-period-2017-to-2023, with special emphasis on AGM 2023 in October:
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On 18 December 2023, email was sent to Economs. No reply was received:
