Can I compel my strata committee to explain budget variances in the annual financial statements? – Peter, NSW

If you are looking for clarity on your strata financial statements, you can submit a motion with the secretary of the committee of to make them available at the next meeting. Note, this only applies to an owner or a person entitled to vote at a general meeting.

The treasurer maintains records and financial statements, and the secretary makes these documents available for owners review at general meetings. The committee is accountable to the owners corporation on all financial matters. The NSW Office of Fair Trading has information on financial records on their website.

Read another FAQ answer on this topic of committees here