The AGM of your Strata Company is the most important event for your strata community each year. All owners should try to attend either in person, by proxy or via video conference.
Owners will receive a meeting notice which is sent out 14 clear days ahead of the scheduled AGM. It will specify agenda items, along with date, time & location.
Only motions included on the agenda can be resolved. Owners can request items of business to be included on the agenda prior to the meeting notice being circulated.
General discussion items include the election of the Council of the Strata Company, acceptance of the financial report, the insurance for the coming year, and the setting of a budget for expenditure for the year ahead.
AGM's follow a formal process and are minuted.
Article from www.domain.com.au
It's that time of the year again - Aria receives a copy of the AGM agenda and meeting notice. Like all owners should, she sets aside time to attend the AGM.
- The meeting start time is 6:00 pm. Following the May 2020 Amendments to the Strata Title Act 1985, those owners present either in person, by proxy or via video conference can proceed to business, as there is no longer a requirement for a quorum.
- The Chairperson then proceeds to read through the first motion which is 'moved' and 'seconded' and then the motion and then voted on. It passes with a simple majority. This process repeats with the first few motions.
- The Chairperson then asks for nominations to form the Council of the Strata Company for the next 12 months. Aria nominates herself along with two others, and the Council of the Strata Company is elected.
- The Chairperson then moves to the budget. The owners discuss each line item in detail before deciding that they would also like to include funds for a gutter & down pipe clean at the end of Autumn. The budget is amended and the owners vote to adopt the budget as amended.
- Next, the meeting moves on to the raising of the levies. This is primarily how a strata company funds its expenditure for the current year, and prepares itself for future expenditure. Discussions around working capital, cash flow and a reserve fund for future capital expenditure are discussed and resolved.
- Once the last item on the agenda is voted on, conversation turns to any other business. Aria, along with the other owners discuss some issues relating to the fence condition and future works which will be required.
- Once all discussions are completed, the meeting is closed, the time is recorded as 7:06 pm and the meeting date for next years AGM is set.
- Aria, along with her new fellow Councillors stay back once everyone leaves to discuss Council business. They appoint themselves into the roles of Chairperson, Treasurer and Secretary and agree that they will meet monthly. Aria will update the Strata Manger re: the office bearer appointments.
A copy of the minutes will be available for Aria and her fellow owners to download within 14 days.