A Sinking Fund Forecast is an important part of a body corporates long-term financial planning. But preparing the forecast is only part of the process.

Major building components and common property assets will require replacement or renewal at different points in a property’s life.

A Sinking Fund Forecast helps identify anticipated capital and non-recurring expenditure and considers how much money will need to be accumulated over time to meet those future costs.

For committees, the important question isn’t simply whether a forecast exists. It is whether the forecast continues to provide a useful picture of the body corporates anticipated expenditure and funding requirements.

So, what should committees understand about their Sinking Fund Forecast – and what should they be looking for?

Mackay Next Week! Our October Strata Community Education Seminar Series is continuing across Queensland, and as we prepare for our next event, it’s time to introduce another expert joining our panels – Andrew Staehr, Director of Strata Compliance Solutions.

Andrew is part of every regional panel throughout the October series, bringing a long-term planning perspective to our discussion on body corporate finances.

From identifying future capital expenditure and understanding when major assets may require replacement, through to Sinking Fund Forecasts and planning for costs that may still be years away, Andrew will help connect the financial decisions being made today with the future needs of a body corporate...

Meet Andrew Staehr...

When you manage or maintain a strata property, it is easy to focus on the jobs that are already on the schedule.

The lawns need mowing, the gardens need attention, the common areas need cleaning and the bins need servicing.

But what about the things nobody has specifically asked you to look at?

Regular contractors are often on a property more frequently than many other people involved in its day-to-day management.

That means they can sometimes notice small changes or problems simply because they are there regularly.

Those observations can be useful, particularly when they are reported early...

Getting Major Spending Approved - By Mathews Hunt Legal

Who Does What on a Committee? - By the Commissioner for BCCM

Body Corporate Financial Decisions: Meet Peter Hunt – By Smart Strata

Forearming the Committee – By Chambers Russell Lawyers

Body Corporate Finances: Meet Jason Carlson Next Week – By Smart Strata

One Storm, Three Claims – By PHJ Services