WebPAYMENT OF ELECTION EXPENSES. The board shall pay all expenses of calling and holding each election, except the creation election, from any district funds except the interest and sinking fund. Acts 1971, 62nd Leg., p. 413, ch. 58, Sec. 1, eff. Aug. 30, 1971. Sec. 53.146. MAINTENANCE FUND. (a) A district shall have a maintenance and … WebApr 29, 2024 · Regardless of any proposed, theorised, hypothetical or contractual arrangement to sell to a developer, a Body Corporate has a legislated duty to maintain the common property, forecast future …

The Risk of a Low Body Corporate Sinking Fund Balance

WebDec 19, 2014 · For a start sinking funds are savings accounts. Their sole purpose is to accumulate large sums of money to finance capital works over a long period of time. They’re a great mechanism to ensure that … WebSep 21, 2015 · The Sinking Fund is for the capital expenses of the body corporate; for example: internal and external painting of the building. replacement of the roof. … sentences with the word laziness

7 Essential Sinking Funds Categories For A Better Budget - Cents + Purpose

WebAny owners corporation (formerly body corporate) with a maintenance plan must establish a maintenance fund. The fund must contain any: part of the annual fees designated for the maintenance plan amounts received under an insurance policy for any item in the maintenance plan interest earned by investing fund money WebFunds for managing a body corporate Sinking fund Find out about sinking fund forecasts, what money is paid into the fund and what it can be spent on. Administrative fund See how to run a body corporate administrative fund, what money has to be paid into the fund and what it can be spent on. Promotion fund WebNov 25, 2024 · This is used to cover day-to-day expenses to maintain and manage the body corporate building. This fund is for things such as common water, common insurance, … sentences with the word launch