Annual General Meetings - Why Should You Attend?
Each year your body corporate is compelled to conduct a general meeting. It is the only compulsory meeting of the members.
This is also your chance to attend the meeting and vote for any of the motions that are submitted by the committee, other lot owners and compulsory motions, as well as the election of a committee. Motions are to be submitted prior to the end of your financial year.
Notices for the Annual General Meeting (and all other general meetings) are sent out at least 21 clear days to enable lot owners to carefully consider all matters to be voted on prior to the meeting. The information in the agenda for the meeting will include a motion to approve the budgets and approve the contributions to be collected from each owner for the forthcoming year.
As a lot owner, you are encouraged to attend the Annual General Meeting and to vote on the motions presented, and this may be done in a number of ways: by voting paper, by proxy, or in person by voting from the floor. Each lot is entitled to one vote only. A company nominee is entered on a roll is also a voter.
To be entitled to vote at a general meeting, each lot-owner is responsible to ensure that their details are entered correctly on the body corporate roll.
Many owners attend the general meeting of the body corporate so that they are informed and updated on the program of spending and improvements to be undertaken within their body corporate during the course of the year. The lot-owners vote on any major spending (items to a greater value then $125.00 x the number of lots) in order for the authorisation of those funds to be spent.
Unfortunately, many people leave the decision-making that will impact the body corporate levies and the maintenance and improvements to common property to a handful of lot-owners. The result is often disgruntled lot owners who feel alienated because they have higher levies to pay.
We urge all lot owners to read the notices and material supplied with the annual general meeting agenda, and to attend the meeting where possible, so that they really feel part of the decision-making process for their body corporate. As a member of a body corporate, you are now part of a community. In this community you have the right and privilege of assisting your community to make decisions to enrich and enhance your lifestyle.