Strata Financial Audits – Good Governance & Best Practice

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Is your strata community following the law and administrative best practice? An annual financial statement audit is a legal requirement for Body Corporate and Owners Corporation communities, but even more importantly, an independent third-party audit provides peace of mind for all lot owners and committee

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SSKB looks at how lot entitlements are carried out.

How Your Levies Are Calculated – NSW

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How are your levies calculated? Have you ever reviewed your budgets or general meeting material and wondered how your levies are calculated? Or similarly, have you just paid your levy without really knowing what you’ve been paying for? Here is a quick guide to assist

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SSKB looks at how lot entitlements are carried out.

How Your Levies Are Calculated – Qld

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How are your levies calculated? Have you ever reviewed your budgets or general meeting material and wondered how your levies are calculated? Or similarly, have you just paid your levy without really knowing what you’ve been paying for? Here is a quick guide to assist

Read more
SSKB looks at how lot entitlements are carried out.

How Your Levies Are Calculated – Victoria

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How are your levies calculated? Have you ever reviewed your budgets or general meeting material and wondered how your levies are calculated? Or similarly, have you just paid your levy without really knowing what you’ve been paying for? Here is a quick guide to assist

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Incorrect Invoices Delay Payment

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Strata communities can reduce the risk of payments being delayed or becoming victims of invoice fraud by insisting service providers adhere to best business practice. SSKB’s Client Financials team processes hundreds of invoices for clients each week and occasionally our accountants will have to return

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How To Prepare A Budget

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Preparation of a budget is one of the most important tasks a committee must undertake in their year to year operation. The following are general principles which strata communities may consider when preparing their budgets. The previous year end accounts are reviewed prior to commencing preparation of

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Meet The Team: Maureen from Client Financials

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SSKB has an extensive team of people to help you manage your strata investment. This month we’d like to introduce you to the Client Financials team. In addition to your Community Manager and Assistant Community Manager, SSKB lot owners have access to our expert Client Financials

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SSKB Strata Managers looks at at what committees should do with excess funds raised by special levies

Surplus Special Levy Funds – Victoria

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In recent articles, we have discussed the roles of maintenance funds and plans in strata communities. An owner’s corporation’s maintenance fund is effectively a deposit which exists to allow an owners corporation to pay for repairs and maintenance of a building, in accordance with the

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SSKB Strata Managers looks at at what committees should do with excess funds raised by special levies

Surplus Special Levy Funds – NSW

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In recent articles, we have discussed the roles of sinking funds and administrative funds in strata communities.  A sinking fund is effectively a deposit which exists to allow an Owners Corporation to pay for major capital repairs and maintenance of a building, while the administrative

Read more
SSKB Strata Managers looks at at what committees should do with excess funds raised by special levies

Surplus Special Levy Funds – Qld

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In recent articles, we have discussed the roles of sinking funds and administrative funds in strata communities.  A sinking fund is effectively a deposit which exists to allow a body corporate to pay for major capital repairs of a building, while the administrative fund is

Read more
SSKB looks at Sinking Funds/Maintenance Funds for Strata Communities

Sinking Funds Explained – Queensland

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What is a sinking fund? A body corporate’s sinking fund is effectively a deposit which exists to allow a body corporate to pay for repairs and maintenance of a building. The money in a sinking fund can be spent on several different things.  Firstly, it

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SSKB looks at Sinking Funds/Maintenance Funds for Strata Communities

Sinking Funds Explained – NSW

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What is a sinking fund? An owners corporation’s sinking fund is effectively a deposit which exists to allow an OC to pay for repairs and maintenance of a building. The money in a sinking fund can be spent on several different things. Firstly, it can

Read more
SSKB looks at Sinking Funds/Maintenance Funds for Strata Communities

Maintenance Funds Explained – Victoria

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What is a maintenance fund? An owner’s corporation’s maintenance fund is effectively a deposit which exists to allow an owners corporation to pay for repairs and maintenance of a building, in accordance with the property’s maintenance plan. The maintenance plan is a 10-year plan which

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Changes to Accounts Payable Process

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As a follow up to the StrataSure principles announced last month and in line with our pursuit of excellence in systems and processes,  SSKB has made positive changes to our Accounts Payable Process . We have now implemented a mechanism that supports the management of

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Payout for SSKB bodies corporate

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It’s that time of year again – Bendigo Bank (Chevron Island) and SSKB are very pleased to announce that the semi-annual Community Dividend for the period Jan 1  to June 30 2014,  has now been paid to 317 body corporate associations, totalling a massive $46,013.60   The Community Dividend

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