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<p class="MsoNormal"><span style="mso-fareast-language:EN-US">Technically the Act says it’s required to be recouped in current year, because if the Admin fund has been run into deficit essentially that means Cap Works funds have been used for Admin purposes.
However, if the committee would like to get creative and potentially stretch it, I’m willing to entertain it. This is mainly due to the time elapsed in the current fin yr. We can run the next AGM as quickly as possible in the new fin yr and budget accordingly
then also.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-fareast-language:EN-US"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="mso-fareast-language:EN-US">My main concern is always addressing the standard Admin Fund intake to ensure that no further deficits are created. We need to arrest that without doubt in this budget.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-fareast-language:EN-US"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="mso-fareast-language:EN-US">Either way, whatever is in the Agenda now can be discussed at the actual AGM and adjustments made to the ratified motions.<o:p></o:p></span></p>
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<p class="MsoNormal">Kind regards,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b>RYAN WALMSLEY </b>| <span style="font-size:9.5pt">MANAGING DIRECTOR<b>
</b></span><b><o:p></o:p></b></p>
<p class="MsoNormal"><span style="font-size:5.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="color:#BF6E01">ASCENDCORP STRATA PTY LTD<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:9.0pt;color:#BF6E01">P</span></b><span style="font-size:9.0pt;color:#D17801">
</span><span style="font-size:9.0pt">02 9799 1111 | <b><span style="color:#BF6E01"> E</span></b><span style="color:#BF6E01">
</span> </span><a href="mailto:ryan@ascendcorpstrata.com.au"><span style="font-size:9.0pt;color:windowtext;text-decoration:none">ryan@ascendcorpstrata.com.au</span></a><span style="font-size:9.0pt"> | <b><span style="color:#BF6E01">W</span></b><span style="color:#BF6E01">
</span></span><a href="http://www.ascendcorp.com.au/"><span style="font-size:9.0pt;color:windowtext;text-decoration:none">www.ascendcorp.com.au</span></a>
<o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:9.0pt;color:#BF6E01">PO</span></b><span style="font-size:9.0pt"> Box 419 NORTH SYDNEY NSW 2059 |
<b><span style="color:#BF6E01">A</span><span style="color:#C45911"> </span></b> 609/100 Walker Street, NORTH SYDNEY NSW 2060<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:3.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><i><span style="font-size:10.0pt;color:#BF6E01">Liability limited by a scheme approved under Professional Standards Legislation.</span></i></b><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:4.0pt"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span lang="EN-US">From:</span></b><span lang="EN-US"> Matthew Guy <matthew_guy@hotmail.com>
<br>
<b>Sent:</b> Tuesday, July 25, 2023 11:21 AM<br>
<b>To:</b> matt@perkins.id.au<br>
<b>Cc:</b> Ryan | AscendCorp Strata <ryan@ascendcorpstrata.com.au>; ec@mailman.perkins.id.au<br>
<b>Subject:</b> Re: [200WILLIAM-EC SP67851] Proposed Budget SP67851 23/24<o:p></o:p></span></p>
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<p class="MsoNormal">Thanks Ryan,<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Is there any chance to catch up the $97k over two years with two special levies instead of one? <o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Regards,<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Matt<o:p></o:p></p>
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<p class="MsoNormal"><br>
<br>
<o:p></o:p></p>
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<p class="MsoNormal" style="margin-bottom:12.0pt">On 25 Jul 2023, at 10:45 am, <a href="mailto:matt@perkins.id.au">
matt@perkins.id.au</a> wrote:<o:p></o:p></p>
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<p class="MsoNormal"> <o:p></o:p></p>
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<p class="MsoNormal" style="margin-bottom:12.0pt">If you look at how our schemes revenue has tracked compared to inflation it has tracked way behind for years. This seem to me to be a catch up. It didnt help that STM did nothing for the last 3 years. But
to be fair im sure the owners would have voted down the increase at the previous AGM's in any effect. <br>
<br>
Matt.<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<pre>** DO NOT SEND PRIVATE OR CONFIDENTIAL MATERIAL VIA EMAIL <o:p></o:p></pre>
<pre><o:p> </o:p></pre>
<pre>/* Matt Perkins<o:p></o:p></pre>
<pre> Direct 02 8916 8101 Spectrum Networks Ptd. Ltd.<o:p></o:p></pre>
<pre> Office 1300 133 299 <a href="mailto:matt@spectrum.com.au">matt@spectrum.com.au</a><o:p></o:p></pre>
<pre> ABN 66 090 112 913 Level 6, 350 George Street Sydney 2000<o:p></o:p></pre>
<pre><o:p> </o:p></pre>
<pre>*/<o:p></o:p></pre>
</div>
<div name="messageReplySection">
<p class="MsoNormal">On 25 Jul 2023 at 10:34 AM +1000, Ryan | AscendCorp Strata <<a href="mailto:ryan@ascendcorpstrata.com.au">ryan@ascendcorpstrata.com.au</a>>, wrote:<br>
<br>
<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="mso-fareast-language:EN-US">Hi Matthew,</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="mso-fareast-language:EN-US"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="mso-fareast-language:EN-US">The issue is more to do with the ratio of income to expenditure in the 22/23 scheme financial year.</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="mso-fareast-language:EN-US"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="mso-fareast-language:EN-US">The scheme raised $304k for the financial year yet spent $406k. That spend did not contain any particularly anomalous expenditure. I drafted
the projected budget based on estimates per previous expenditure and potential current costs, which equated to an Admin fund spend of approximately $378k, which I would suggest would be close to the genuine running cost of the Scheme at present. Due to the
gap in income and expenditure for the previous fin yr, the deficit remains and must be erased.</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="mso-fareast-language:EN-US"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="mso-fareast-language:EN-US">The final (4<sup>th</sup>) quarterly instalment for the 22/23 fin yr instalment was due 1 Dec 22 for the period to 28 Feb 23. The first
instalment for the new fin yr (23/24) is due 1 March, hence the injection of funds by end March per your attached report. These funds are attributed to the current financial year, not the last.</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="mso-fareast-language:EN-US">I hope that helps to explain, however if you’d like to discuss further, please let me know.</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Kind regards,<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b>RYAN WALMSLEY</b> |
<span style="font-size:9.5pt">MANAGING DIRECTOR </span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="color:#BF6E01">ASCENDCORP STRATA PTY LTD</span></b><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-size:9.0pt;color:#BF6E01">P</span></b><span style="font-size:9.0pt;color:#D17801"> </span>
<span style="font-size:9.0pt">02 9799 1111 | <b><span style="color:#BF6E01"> E</span></b> </span><a href="mailto:ryan@ascendcorpstrata.com.au"><span style="font-size:9.0pt;color:windowtext;text-decoration:none">ryan@ascendcorpstrata.com.au</span></a><span style="font-size:9.0pt">
| <b><span style="color:#BF6E01">W</span></b> </span><a href="http://www.ascendcorp.com.au/"><span style="font-size:9.0pt;color:windowtext;text-decoration:none">www.ascendcorp.com.au</span></a> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-size:9.0pt;color:#BF6E01">PO</span></b>
<span style="font-size:9.0pt">Box 419 NORTH SYDNEY NSW 2059 | <b><span style="color:#BF6E01">A</span>
</b> 609/100 Walker Street, NORTH SYDNEY NSW 2060</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><i><span style="font-size:10.0pt;color:#BF6E01">Liability limited by a scheme approved under Professional Standards Legislation.</span></i></b><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span lang="EN-US">From:</span></b><span lang="EN-US">
</span><span lang="EN-US">Matthew Guy <<a href="mailto:matthew_guy@hotmail.com">matthew_guy@hotmail.com</a>><br>
<b>Sent:</b> Monday, July 24, 2023 5:09 PM<br>
<b>To:</b> Ryan | AscendCorp Strata <<a href="mailto:ryan@ascendcorpstrata.com.au">ryan@ascendcorpstrata.com.au</a>><br>
<b>Cc:</b> <a href="mailto:ec@mailman.perkins.id.au">ec@mailman.perkins.id.au</a><br>
<b>Subject:</b> Re: [200WILLIAM-EC SP67851] Proposed Budget SP67851 23/24</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Hi Ryan,<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Wasn’t there $76k of levy revenue in March that caught it up a bit? End of March Admin balance was -$26k. <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Regards,<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Matt G<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;margin-bottom:12.0pt">On 24 Jul 2023, at 2:03 pm, Ryan | AscendCorp Strata <<a href="mailto:ryan@ascendcorpstrata.com.au">ryan@ascendcorpstrata.com.au</a>> wrote:<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Dear Committee,<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Please see attached proposed budget for the current financial year for your scheme. Also attached is the actual financial expenditure as per documents received from previous management
at handover.<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">As you will see, the scheme ran a large Administration Fund deficit last year financial of over $96K.<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">The proposed Administration fund income had been raised from $304,000.00 to $378,000.00 ($152k already levied) in order to arrest the currently deficient budgeted income and to
cease further deficit at the conclusion of this financial year. Also, in order to erase the deficit from the previous year, a one-off special levy of $97,000.00 has been proposed as per the guidelines within the Act.<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Please feel free to review this proposed budget, and forward any questions should you have any.<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Kind regards,<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b>RYAN WALMSLEY</b> |
<span style="font-size:9.5pt">MANAGING DIRECTOR </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:5.0pt"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="color:#BF6E01">ASCENDCORP STRATA PTY LTD</span></b><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-size:9.0pt;color:#BF6E01">P</span></b><span style="font-size:9.0pt;color:#D17801"> </span>
<span style="font-size:9.0pt">02 9799 1111 | <b><span style="color:#BF6E01"> E</span></b> </span><a href="mailto:ryan@ascendcorpstrata.com.au"><span style="font-size:9.0pt;color:windowtext;text-decoration:none">ryan@ascendcorpstrata.com.au</span></a><span style="font-size:9.0pt">
| <b><span style="color:#BF6E01">W</span></b> </span><a href="http://www.ascendcorp.com.au/"><span style="font-size:9.0pt;color:windowtext;text-decoration:none">www.ascendcorp.com.au</span></a> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-size:9.0pt;color:#BF6E01">PO</span></b>
<span style="font-size:9.0pt">Box 419 NORTH SYDNEY NSW 2059 | <b><span style="color:#BF6E01">A</span>
</b> 609/100 Walker Street, NORTH SYDNEY NSW 2060</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><i><span style="font-size:10.0pt;color:#BF6E01">Liability limited by a scheme approved under Professional Standards Legislation.</span></i></b><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><FinancialPerformanceReport_67851 (1).pdf><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><as at 28th Feb 23.pdf><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">--<br>
ec mailing list<br>
<a href="mailto:ec@mailman.perkins.id.au">ec@mailman.perkins.id.au</a><br>
<a href="http://mailman.perkins.id.au/cgi-bin/mailman/listinfo/ec">http://mailman.perkins.id.au/cgi-bin/mailman/listinfo/ec</a><o:p></o:p></p>
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<a href="http://mailman.perkins.id.au/cgi-bin/mailman/listinfo/ec">http://mailman.perkins.id.au/cgi-bin/mailman/listinfo/ec</a><o:p></o:p></p>
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