Budget Strata meeting - Sept.15, 2009

what is the process for drafting and finalizing the budget? Does this all get done at the next upcoming strats meeting? Thanks.

The answer is Yes. Any concerns? Please let us know.

andy

I do have a few questions:

1) Are the elevator repairs/servicing under warranty? If not, what is the expected cost to fix and is it coming out of the reserve fund?

2) I believe last year the hot topic was the under-valuation of our property, and the large increase to our insurance premiums as aresult. Is there any large changes for this year's budget or is it as expected now?

3) The meeting minutes always talks about some owners in arrears for their strata fees. What has/is being done to collect the money due? Is a collection agency involved? Can it go to small claims? Is interest being assessed? Who is in charge of all this?

4) Will the HST next year be pro-rated in to the budgeted expenses?

Thank you!

1. Yes, elevators are under service contract. Warranty has ended.
2. Residents in arrears are followed up by our property management company.
I don't believe we've had to go to a collection agency or small-claims court
so far as the follow-up has been generally effective.
3. Budget, Kevin should show up at the next strata council meeting if he has
input. We will then be discussing the budget soon after that.