All the sections of the Strata Property Act pertain to all strata corporations. Each strata corporation has their own bylaws, rules, budget and financial statement.
It’s a good idea to get a three ring binder and copies of the bylaws, the rules, the most recent approved budget, and the most recent financial statements. The financial statements usually include the income and balance sheets, detailed financial statements include the income and balance sheets, as well as the accounts receivable, accounts payable, general ledger and bank reconciliation.
After looking through all of the above, remember as a council member you are acting on behalf of all of the owners’ best interests, in a very open and democratic way.
The Strata Corporation is a valuable asset to every single owner; protecting maintaining and enhancing the asset is the bottom line goal for every Council member!
As a volunteer working cooperatively with so council members and contributing to the betterment of your strata corporation community can be very rewarding.
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