When the budget is approved does that mean spending limits no longer apply?
To actually spend any of the budgeted funds, the correct spending limits still need to be observed.
In short, no.
Approval of the budgets is to calculate the levies owing by owners and anticipated expenditure. It does not provide any pre approval to spend the funds.
To actually spend any of the budgeted funds, the correct spending limits still need to be observed (improvement limit, committee limit and two quote limit).
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Todd is an experienced property lawyer who heads up Mahoneys body corporate team.
Todd specialises in body corporate law and predominantly acts for bodies corporate, body corporate managers and lot owners on all matters affecting bodies corporate.
Todd is an active member of the Strata Community Association (Qld). In 2019 he was appointed to the Strata Community Association (Qld) legislation committee and assists in making submissions on behalf of the Strata Community Association (Qld) on issues such as legislative reform in body corporate law.
As Todd is also a body corporate committee member, he understands the day to day requirements of administering a body corporate.
Todd has a focus on achieving practical and commercial results for his clients and understands the market in which bodies corporate operate within.
Todd also provides body corporate managers, and other industry stakeholders, with presentations and training on matters affecting the body corporate industry.
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