COSTA NOVA CTS 5565 Minutes of the Annual General Meeting & Adopted Budget - 2024-05-23 · 51981.4258.03

                            Minutes for the Annual General Meeting
                                      C.T.S. 5565 COSTA NOVA 1 Belmore Terrace
Generated at: 22/05/2024 09:08 am                 21/05/2024 02:00 pm                                           User: Danielle Nixion



1.    CONFIRMATION OF MINUTES - Ordinary Resolution
      MOTION CARRIED.          YES – 12        NO – 0        ABSTAIN – 2

      That the Minutes of the Annual General Meeting held 25/05/2023 be confirmed.


2.    STATEMENT OF FINANCIAL AFFAIRS - Ordinary Resolution
      MOTION CARRIED.          YES – 14        NO – 0        ABSTAIN – 0

      That the Statement of Financial Affairs as attached for the year ended 29/02/2024 be confirmed.


3.    ADMINISTRATIVE FUND BUDGET - Ordinary Resolution
      MOTION CARRIED.          YES – 14        NO – 0        ABSTAIN – 0

      That the Proposed Administrative Fund Budget for the year ending 28/02/2025 (with amendments if required) be
      adopted, the resultant Administrative Fund Levy at a rate of $1,903.00 per contribution Lot entitlement, totalling
      $190,300.00 inclusive of GST as set out in the attached Budget Papers be determined, with contributions levied by 2
      instalments, as follows:

      Due Date of Payment                               Levy Period                        Total Per Lot Entitlement
      01/03/2024                                        01/03/2024 - 31/08/2024            $950.00
      01/09/2024                                        01/09/2024 - 28/02/2025            $953.00
                                                                          Total for Period $1,903.00

      Further that Committee be authorised to call the first instalments for the following financial year, as follows:

      Preissue Levies – Next Financial Year

      Due Date of Payment                               Levy Period                           Total Per Lot Entitlement
      01/03/2025                                        01/03/2025 - 31/08/2025               $955.00

                                           BUDGET ADOPTED WITHOUT AMENDMENT


4.    SINKING FUND BUDGET - Ordinary Resolution
      MOTION CARRIED.          YES – 14        NO – 0        ABSTAIN – 0

      That the Proposed Sinking Fund Budget for the year ending 28/02/2025 (with amendments if required) be adopted, the
      resultant Sinking Fund Levy at a rate of $1,748.00 per contribution Lot entitlement, totalling $174,800.00 inclusive of
      GST as set out in the attached Budget Papers be determined, with contributions levied by 2 instalments, as follows:

      Due Date of Payment                               Levy Period                        Total Per Lot Entitlement
      01/03/2024                                        01/03/2024 - 31/08/2024            $874.00
      01/09/2024                                        01/09/2024 - 28/02/2025            $874.00
                                                                          Total for Period $1,748.00

      Further that Committee be authorised to call the first instalments for the following financial year, as follows:

      Preissue Levies – Next Financial Year

      Due Date of Payment                               Levy Period                           Total Per Lot Entitlement
      01/03/2025                                        01/03/2025 - 31/08/2025               $900.00

                                           BUDGET ADOPTED WITHOUT AMENDMENT