administrative fund

The Administrative fund is for day-to-day recurrent expenses. The amount in it must be enough for the owners corporation to pay for:

  • the cost of looking after common property and any other specific property of the owners corporation
  • the payment of insurance premiums
  • any other recurrent expenses other than amounts covered by the sinking fund or by a special levy
More Information: 
Strata Schemes Management Act 1996
Source: 
Strata Living (NSW Fair Trading)