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Rules for AGM financials.
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Hamish
FlatChatter
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Forum Posts: 21
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13/03/2016
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09/01/2019 - 9:24 am
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We have an outgoing compulsory strata manager who has sent out minutes of an “AGM” they held on 3 January 2019. The owners were not sent an agenda for this meeting.  They were appointed on 12 February 2018 for one year only. This is the first “AGM” since September 29 2016.  My understanding under section 237 of SSMA 2015 the managing agent is required to hold a general meeting two weeks prior to the end of their NCAT contract and hand over all correspondence, financial reports, strata roll, company seal, etc.

The minutes refer to financial accounts being adopted dated June 2018.  They are not current.  Is this allowed under the SSMA 2015?  They have also raised the levies and made them retrospective to November 2018.  Is this allowed?  What basis were the levies raised?  There is no budget for repairs and maintenance.

The compulsory strata manager has been useless.  We have a Capital Works fund with no 10 year capital works plan being implemented.  I understand this is required under SSMA 2015.  We have not had a review of by-laws which I understand is obligatory.

We have no budget for repairs and maintenance issues.  We have no asbestos audit.  The two villas were built in 1988/89.

I feel these two managing agents have been negligent in their duties and should be reported.  Who is responsible for investigating these companies?

I would appreciate your opinions on the matters I have raised.

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