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Our building needs painting but there are not sufficient funds in the Strata Companys bank account to cover the cost. What can we do?

April 26, 2017bank account building COMPANY COST cover funds Needs painting Strata sufficient

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Our building needs painting but there are not sufficient funds in the Strata Companys bank account to cover the cost. What can we do?

1 Answer

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A special levy may need to be arranged. An extraordinary general meeting will be required to approve the special levy to fund these works or alternatively a review of the annual budget could be undertaken to cover these expenses in some instances.