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

5.   INSURANCE COVER - Ordinary Resolution
     MOTION CARRIED.        YES – 14        NO – 0       ABSTAIN – 0

     That the Body Corporate confirms the current insurance cover in place as listed below:

                          Building/Common Property $15,894,375.00
                             Common Area Contents $158,944.00
                  Loss of Rent/Temp Accommodation $2,384,156.00
                                        Public Liability $20,000,000.00
                                    Voluntary Workers $200,000.00
                                                Fidelity $100,000.00
                                        Office Bearers $2,000,000.00
                 Lot Owners Fixtures & Improvements $300,000.00
                                               Insurer: Strata Community Insurance
                                       Policy Number: TBA
                                          Expiry Date: 14/02/2025
                                             Premium: $23,032.64
                                         Commission: $2,761.76 plus GST
                             All other Claims Excess: $2,000.00
                              Legal Defence Excess: $1,000.00
                   Building Revaluation Prepared By: Independent Inspections Pty Ltd IIGI Trust
                                       Date Prepared: 19/09/2022
                                              Amount: $15,317,500.00

     (Body Corporate Manager’s Comment: The excess shown above is based on the current renewal terms and is
     subject to review by the insurer at each renewal.)


6.   INSURANCE RENEWAL - Ordinary Resolution
     MOTION CARRIED.        YES – 14        NO – 0       ABSTAIN – 0

     That the Body Corporate Manager be authorised to obtain quotations and renew the Insurance Cover at the next
     renewal date, following Committee approval .


7.   NO AUDIT - Special Resolution
     MOTION CARRIED.        YES – 13        NO – 1       ABSTAIN – 0

     That the books and accounts of the Body Corporate for the year ending 28/02/2025 shall NOT be audited.

     (Body Corporate Manager’s Comment: Should you prefer the books to be audited, you should vote NO to this
     Motion on your Voting Sheet. Should you NOT require an Audit, you should vote YES to this Motion on your Voting
     Sheet.)


8.   APPOINTMENT OF AUDITOR - Ordinary Resolution
     THIS MOTION WAS RULED OUT OF ORDER AS MOTION SEVEN WAS CARRIED.

     That, if Motion 7 is NOT carried, then the books and accounts of the Body Corporate be audited by Kelly & Partners Pty
     Ltd at a cost of $979.00 inclusive of GST.