Page 1 Sinking / Reserve Fund Management For Strata and Commercial Buildings.

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Sinking / Reserve Fund Management For Strata and Commercial Buildings

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What is a Sinking / Reserve Fund

Definition A detailed and comprehensive estimate of the councils corporate’s sinking fund expenditure for the scheme’s 10 financial years that must include an estimate for the repainting of common property and of buildings that are Councils corporate assets.

ThoughtsThink of it as a servicing schedule for your car, with services in years rather that kilometres.

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HISTORY OF SINKING FUNDS IN AUSTRALIA

QLD – Sinking Fund Forecast Introduced 1987 NSW – Sinking Fund Plan Introduced 2004 to 2006

ACT – Sinking Fund Forecast introduced 2009

VIC – 2009 ,Over $200,000 Turnover or 100 Units in size, Trends with Smaller schemes are increasing. Called a Maintenance Plan, is to be reviewed annually.

WA, SA, NT – Reserve Fund Forecast -No Legal Requirement’s  

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Case Study 

The Complex 56 UnitsNot Maintained for 20 YearsBuilding Cracking and Needs RepairComplex under insuredComplex needs painting,Pool Needs attentionRetaining walls falling downPipework issues  

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Independent Inspections /FWR Group Pty Ltd

Independent Inspections Pty Ltdwww.iigi.com.au

www.fwrgroup.com.auwww.independentcertification.com.au

Mr. Peter GreenhamQualifications:- Diploma of Civil Engineering- Associate Diploma of Laboratory

Operations- Diploma of Quality Management- Diploma of Business- Lead Environmental Auditor- Diploma of workplace training

and Assessment- NATA Assessor

Your Auditors and Trainers

P: 1300 857 149F: 1300 857 150

Team

Mr. Sydney LueM: 0423 234 [email protected]

Mr. Peter GreenhamM: [email protected]