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3.3 Budget And Financial Statement Requirements For Owner Developer

In This Volume

  • 3.3 (1) For the purposes of section 21(3)(a) of the Act, the first annual budget must contain the information required by section 6.6 of this regulation.
  • (2) For the purposes of section 21(3)(a) of the Act, the financial statement must contain the following information:
  • (a) the details of the strata corporation’s income from all sources from the first day of the period covered by the interim budget until a day that is within the 6 week period before the date of the first annual general meeting;
  • (b) the details of expenditures out of the operating fund for the period referred to in paragraph (a);
  • (c) the details of any expenditures or accrued expenses not included in the operating expenses estimated in the interim budget;
  • (d) the amount in the contingency reserve fund on the first and last day of the period referred to in paragraph (a).