Q&A Session Summary

Thank you to all those that attended and asked questions regarding the Proposed Budget and Voting etc for the coming Electronic General Meeting.

The following items concerning the Budget and Voting were discussed: -

• Several line items from the Proposed Budget were discussed such as Pool Maintenance, Security and Sewer Pumps. These items were where reductions to the budget had occurred and were of most concern to residents that attended the meeting.
• The Treasurer clarified that certain contracted prices might not have been known to the previous Committee when they prepared the Proposed Budget for the AGM. The Treasurer is assured that all expenses will be met in the current period.
• The budget for the pool upgrade, initially set at $170,000, has been reduced to $60,000. This amount will cover expenses until the completion of further investigations into our best option, which the current Committee is actively conducting. This has been mentioned in the Proposed Amended Budget papers and more information will be presented to the Community as the Investigations and quotes are received.
• Upgrades to sewer pumps is also being investigated, with further updates to be provided as trials occur. A new improved pump model will soon undergo testing to evaluate its efficiency and cost-effectiveness.

The Treasurer assured the Residents who attended the meeting that the Sinking Fund report done in 2020 by an independent company, is still on track. This report will be available on our website.

The proposed Budget put emphasis on what needs to be raised from the Community as overall income to meet its costs. To meet any contingency should it arise, the levies can be re-determined, or use made of the Owners Funds built up from the past years (currently at $547,000), if this is ever needed.

Accordingly, it is the view of the Treasurer that the continuation of the current level of levies will achieve the forecast costs until any further determination, if any, needs to be made.