ANNUAL GENERAL MEETING (AGM) PROCESS
STEP 1
NOMINATIONS & MOTIONS
Approximately six weeks prior to the Body Corporate’s Financial Year End Owners receive the nominations and motions notice.
This allows owners the opportunity to nominate to the Committee and submit motions for inclusion upon the Annual General Meeting.
STEP 2
FINANCIAL YEAR END
Once the financial year end has past for your building, the Body Corporate has three months to hold their:
Budget Committee Meeting; and
Annual General Meeting
The financial year for a body corporate is not always the same as the tax year (1 July to 30 June). The financial year for your body corporate is determined by either the:
The last day of the month prior to the date the community titles scheme was established (e.g. if the scheme was established on 10 May 1998, the last day of the financial year is 30 April. The financial year will be 1 May to 30 April).
Date of the first AGM
STEP 3
BUDGET COMMITTEE MEETING
The Budget Committee Meeting determines the motions to be included upon the Annual General Meeting and financial budget for the year ahead.
The Budget Committee Meeting allows the Body Corporate Manager to formulate the Annual General Meeting agenda based off of the resolutions from the Budget Committee Meeting, that form minutes of the meeting.
The financial year end for a Body Corporate is not always the same the tax year ( 1 June to 30 June). The financial year for your Body Corporate is determined by either the:
- The last day of the month prior to the date the community titles scheme was established (e.g. if the scheme was established 10 May 1998, the last day of the financial year is 30 April. The financial year will be 1 May to 30 April); Or
- Date of the first AGM
STEP 4
ANNUAL GENERAL MEETING
The Annual General Meeting (AGM) determines the statutory motions, committee motion and any owners motions.
The AGM agenda which includes voting papers are prepared and distributed to all owners. Owners are encouraged to either attend the meeting or return their completed voting papers to determine all motions within the AGM agenda.
The AGM confirms Committee members elected via the nominations process (step 1) or from the floor of the meeting for the year ahead.
Once the AGM is held your Body Corporate Manger has 21 days to prepare and distribute the minutes of the meeting to all owners.
