[200William-EC SP67851] Sinking Fund budget

Wed Mar 4 09:18:57 AEDT 2015

Thanks so much Ed,

Solutions IE aren't responding, so I will have senior management contact them.

When would you like to book the next committee meeting in for?

Should you have any queries regarding the above, please do not hesitate to contact me.

Have a nice day,

Kind regards,
Pia Cunningham
Strata Manager
BMC Manager and
Company Title Manager

Phone: (02) 9266 2600 | Email: pcunningham at stratatitle.com.au<mailto:northshore at stratatitle.com.au> | Address: PO Box 72, STRAWBERRY HILLS NSW 2012, Level 7, 447 Kent Street, SYDNEY  NSW  2000

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From: ec-bounces at 200william.com [mailto:ec-bounces at 200william.com] On Behalf Of Ed Sainsbury
Sent: Tuesday, 3 March 2015 9:56 PM
To: ec at 200william.com
Cc: 'Rowan Holloway'
Subject: Re: [200William-EC SP67851] Sinking Fund budget

Dear EC,

I have been away for a month in the US. I have reviewed it and it has a drastic increase in Sinking Fund Levies for 2016. Their previous report had funds levied of $20k. Their new figure is $120k. Please see the two reports attached and I have summarised the variance below.

Residential Sinking Fund Levies raised in each calendar year.
[cid:image010.png at 01D0565C.3E694250]

The conclusion of this is that we will be asking for our money back for their fees and we will need to commission a new report, again. The average Levy required for the residential strata for next 5 years is $68,407 (on a simple straight line basis).
What we can do is work with George to smooth out our Capital Expenditure so that we can reduce any large increases to our Sinking Fund levies.

We will need to add in renovations into the new numbers as well.

I will now work with Pia to make this happen. We can talk about it further at our next EC meeting.

Regards,
Edward

From: Ed Sainsbury [mailto:edsainsbury at ozemail.com.au]
Sent: Tuesday, January 06, 2015 8:08 PM
To: 'ec at 200william.com ec at 200william.com<mailto:ec at 200william.com>'
Subject: RE: [200William-EC SP67851] Sinking Fund budget

I will follow up tomorrow with the report's author.

FYI

From: Shipra Castledine [mailto:ShipraC at solutionsinengineering.com]

Sent: Tuesday, 6 January 2015 5:04 PM

To: Sainsbury, Edward

Subject: RE: BMC - Building Management Committee for DP1040255

Hi Edward

I'm sorry I was unable to call you today. It has been rather busy catching up after the Christmas holidays. I will catch up with you tomorrow.

Kind regards,

Shipra Castledine

Senior Operations Coordinator

_____________________

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T             1300 136 036

F             1300 136 037

E              shiprac at solutionsinengineering.com<mailto:shiprac at solutionsinengineering.com<mailto:shiprac at solutionsinengineering.com%3cmailto:shiprac at solutionsinengineering.com>>

W            www.solutionsinengineering.com<http://www.solutionsinengineering.com/<http://www.solutionsinengineering.com%3chttp:/www.solutionsinengineering.com/>>

Solutions in Engineering have implemented  a NEW procedure in the way reports are amended

At Solutions in Engineering we understand that while we deliver high quality, professional service reports minor edits to these reports may occasionally have to be made.  We have now implemented an easier process to complete these amendments from go-to-whoa.

From: Rob Willett [mailto:rob at robadda.com]
Sent: Tuesday, January 06, 2015 5:55 PM
To: ec at 200william.com<mailto:ec at 200william.com> ec at 200william.com<mailto:ec at 200william.com>
Subject: [200William-EC SP67851] Sinking Fund budget

Thanks a lot Ed, we realise how busy you are in your real job so the time you are spending sorting this through for us with your expertise is very gratefully appreciated. I am 100% on-board with you changing suppliers for any on-going reports. FYI, we have no contract or allegiance to Solutions in Engineering. So from my side, please feel free to do what you need to do. I expect the fellow EC members would have no issues with a new supplier.

Many thanks Ed and Happy New Year,

Regards, ROB

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On 5 Jan 2015, at 5:47 pm, Ed Sainsbury <edsainsbury at ozemail.com.au<mailto:edsainsbury at ozemail.com.au>> wrote:

Dear EC,

Over the break I looked at the revised Marquis BMC Sinking Fund Plan (30 Oct 2014) supplied by Solutions In Engineering, for our cash flow budget. I compared this to the Marquis BMC Sinking Fund Plan (15 Jul 2014). Then compared this to the (Resi) "Sinking Fund Plan Update
For Owners Corporation Strata Plan 67851" (26 Jul 2014)

The main issue is that the revised BMC sinking fund report has the Resi Owners Corp contributing an additional ~$80k in 2016, from the original report. And as such, does not correlate to the Owners Corp report's Contribution per Unit Entitlement.

As a result I have called Solutions In Engineering today to question which Contribution per Unit Entitlement they are using; that achieves the additional $80k in 2016. I am also going through the report so that they can label tables appropriately etc. I am also speaking with Pia to confirm what the Contribution per Unit Entitlement she has on record for her calculations to see if they marry up to one report or the other.

I will wait until I hear back from Solutions In Engineering. I am expecting a call tomorrow. In future I feel that we may use a different provider for these reports, as they are not up to the standard I would like, however I will wait to see if we can sort the layout and scope of any future reports.

Once I know what our Contributions are, I can confirm the budget. This will show how much money is available for a refresh and design.

Regards,
Edward Sainsbury

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