Financial statements
Reading the income and expenditure statement, balance sheet, and levy arrears report in StrataBuddy.
Before you start
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All income and expenses for the financial year have been recorded in StrataBuddy.
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All levy payments have been reconciled.
Open Financial Statements
Go to Finance → Reports and select the financial year. StrataOwn generates three reports: Income & Expenditure, Balance Sheet, and Levy Arrears.
Read the Income & Expenditure statement
Shows total levy income collected, other income (e.g. interest), and all approved expenses by category. The surplus or deficit for the year is shown at the bottom. A deficit means spending exceeded income — this may require a levy increase.
Read the Balance Sheet
Shows the scheme's assets (bank accounts, levies receivable) and liabilities (unpaid invoices, prepaid levies) at the end of the financial year. The equity line represents the accumulated fund balances.
Export for the AGM pack
Click Export PDF to generate a single combined report. StrataOwn formats it to the standard expected for AGM notice attachments, including the scheme name, ABN, and financial year dates.
Frequently Asked Questions
Do the statements need to be audited?expand_more
Audit requirements vary by state and scheme size. Many states require an audit or review for schemes above a threshold number of lots or total levy income. Check your state's requirements and configure the audit status in StrataBuddy.
What is the Levy Arrears report?expand_more
The Levy Arrears report lists every lot with an outstanding levy balance, the age of the debt, and any interest accrued. It is typically tabled at the AGM and used to authorise debt recovery action.
Related Articles
Committee spending limit
What the committee spending limit is, how to set it, and when a resolution is required to exceed it.
Special levy resolutions
How to pass a special levy resolution, who must vote, and how the levy is distributed across lots.
Issue your first levy notice
End-to-end walkthrough: levy schedule setup, lot calculations, and notice delivery.
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