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Financial management and levies

Budgets, levies and reporting handled by a CPA-led accounting function, so your committee always knows what the scheme has, what it owes and what it is spending.

What it covers

Included as standard

  • Draft budgets prepared for the committee ahead of each annual general meeting
  • Administrative and sinking fund accounting kept separate and clearly reported
  • Levy notices issued, receipted and reconciled
  • Arrears followed up consistently and fairly
  • Payment of scheme invoices against approved budgets
  • Financial statements prepared for the annual general meeting
In Queensland

Queensland schemes must maintain both an administrative fund and a sinking fund, and the body corporate must have a sinking fund forecast covering at least the next nine years. We keep both funds properly separated and reported.

Request a quote

Or call 1300 199 666 and speak to a manager.

How it works

From first call to done

1

We build a draft budget from the scheme’s actual costs and known upcoming works.

2

The committee reviews it, and the owners approve the levies at the general meeting.

3

Levy notices go out on schedule and are reconciled as they are paid.

4

We report the position back to the committee, so there are no surprises.

Questions

Financial management and levies: common questions

What is the difference between the two funds?+
The administrative fund covers the recurring, day-to-day running costs of the scheme, things like insurance, cleaning, gardening, utilities and management. The other fund is for major capital work, painting, roofing, lifts, common property renewal. Keeping them separate is a legal requirement, not just good practice.
How are levies worked out?+
The committee and the manager prepare a budget covering expected costs for the year ahead, including a contribution towards the sinking fund. The owners approve it at the general meeting, and each lot pays its share according to its entitlement. Nobody sets your levies unilaterally.
What happens if an owner falls behind?+
We follow a consistent process: a reminder, then formal notice, then recovery action if it stays unresolved. Arrears are reported to the committee so they can see the position. We would always rather resolve it early than escalate.

All body corporate questions

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Everything else we handle

Body Corporate Management

The day-to-day running of your scheme, handled by a named manager who knows your building, answers the phone and follows things through to the end.

Meetings & AGMs

Committee meetings and general meetings convened, chaired where required, minuted accurately and followed up, so decisions are properly made and properly recorded.

Maintenance & Repairs

Common property maintained by licensed, reliable contractors, with work planned ahead where possible and followed up until it is actually finished.

Compliance & By-Laws

Your obligations explained in plain language, and by-laws that are enforceable, current and actually suited to how your building is used.

Records & Administration

The roll, the registers and the paperwork kept accurate and accessible, which is the unglamorous backbone of a scheme that runs properly.

Insurance

Cover reviewed against a current valuation, renewals handled on time and claims coordinated, so the building and the common property are actually protected.

Communication & Owner Support

A real person to call, enquiries answered within 24 to 48 hours, and information owners can get to themselves when they would rather not call at all.

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Our brands
W.T. Newey & Co Strata Strata management, New South Wales W.T. Newey & Co Strata (QLD) Body corporate management, Queensland Strategia Strata Management Strata management, Sydney North Shore