Budget

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A budget sets out the estimated expenditure for the strata scheme’s coming financial year, and is composed of two funds. The administrative fund (opex) and recommended goal of the sinking fund /capital works fund (capex). It is adopted at the AGM.

It is usually prepared by the strata managing agent, though it may be also a requirement of the facilities manager and/or treasurer of the scheme to be actively involved. It is the approved budget that explains to owners what their levies are for.

The owners pay their portion, based on their aggregate Unit Entitlement.