how to prepare for a budget meeting...• budget for the next 12 months • levies for the next four...

HOW TO PREPARE FOR A BUDGET MEETING

James Carlton TUESDAY 18 MARCH 2014

INTRODUCTION

• Importance of the Budget Meeting

• “On the spot”

• Preparation

• Do’s and Don’ts

• And most importantly…

• TO HELP YOU TO…

TUESDAY 18 MARCH 2014

Turn a difficult Committee…


Into a happy Committee…


WHAT IS THE BUDGET MEETING?

• Pre Annual General Meeting • Financials from the previous year Vs. budget • Budget for the next 12 months • Levies for the next four periods • Ratified at the AGM


HOW TO PREPARE

• If the Committee need to be aware, tell them.

• Ensure you have all the information though…

• Go that little bit further.


• Compare actuals to budget

• Explain where budgets have gone over.

• Explain where budget have gone under.


• Annual report

• On the agenda every year

• Numbered points, short and direct

• Circulate amongst the Committee if it is a long report or contains important issues


• You know your complex, how can you make it better

• New equipment

• Major projects, mulching, lighting

• Bring your quotes!!!


• Workplace, Health & Safety, Asbestos, Engineers…

• Know your role

• If you don’t know, ask

• Follow up so that you can report at the meeting


• Maintenance Schedules and servicing

• Fire, Backflow, WH&S Audit, Pool Certificate, Termites

• Include it in your Building Manager’s Report

• If they haven’t been completed, why?


• Large scale maintenance schedule for next 15 years

• Forms the guide that Sinking Fund Levies are based on

• Enables planning, painting quotes etc…


• Minutes from the last meeting

• Have you completed all the required tasks

• Action copy

• White folder


• Pending Claims

• Progress of the claim

• The next steps

• Include in your Building Manager’s Report


• Are there any large projects still in progress?

• Painting, mulching, roadways etc…

• Provide an update.

• What is the progress. What is left to do. Estimated completion date?


DO’S & DON’T 1. DO TURN UP

2. DON’T TURN UP WITHOUT QUOTES

3. DO NOT FORGET THE QUOTES


DO’S & DON’T (cont.)

4. DON’T OFFER ADVICE IF YOU ARE UNSURE OF THE FACTS

5. DO A FOLLOW UP

6. DON’T DO SUPRISES

7. DO AN INSPECTION


8. DON’T MAKE ME LOOK BAD


TO CONCLUDE

• Preparation is the key…

• Research

• If you don’t know, ASK…

• Committee Approval


THANK YOU!!!

James Carlton TUESDAY 18 MARCH 2014

how to prepare for a budget meeting...• budget for the next 12 months • levies for the next four...

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