What is a Sinking Fund / Maintenance Plan or Reserve Fund
A Sinking Fund is a detailed and comprehensive estimate of the councils corporate’s sinking fund expenditure for the scheme’s 10 financial years that must include an estimate for the repainting of common property and of buildings that are Councils corporate assets.
Think of it as a servicing schedule for your car, with services in years rather that kilometres.
Body Corporate and Strata Schemes around Australia have different requirements according to the state regulations.Most Complexes are managed by a Strata or Body Corporate Manager and some are self managed. Each complex is different in it's workings, but there are some common reporting practices that are required by law in being a Responsible Business Corporation.
The Replacement Insurance Value is the sum of money it would take to construct a building with the same functional use and of the same useable area as the Original building. The new building would also have to conform to regulations and bylaws since the original date of construction.
Workplace Health and Safety Audits
CHANGES TO YOUR OBLIGATIONS TO MANAGE SAFETY IN THE WORKPLACE
The WHS Act requires all persons who conduct a business or undertaking to ensure, so far as is reasonably practicable, that workers and other persons are not put at risk from work carried out as part of the business or undertaking. The WHS Regulations include specific obligations to manage and control Risks and asbestos at the workplace.
In some cases, there may be more than one person with management or control of a workplace for example:
• A person with management of a workplace is a tenant, and
• A person with control of a workplace has the power to make decisions and changes to the structure and use of the workplace.
Fire Evacuation Plans
Fire and Evacuation plans are a tool for the procedures for buildings, structures and workplaces, in the event of fire or other emergency to direct the personnel or staff safely to the evacuation area.
The objective of this Fire Plan is to enhance the safety of people in facilities, by providing a framework for emergency planning, utilising the built facilities as appropriate.