Short answer
The AGM (annual general meeting) is the once-a-year meeting of all owners where the scheme’s key yearly business is decided — approving the budget and setting levies, reviewing insurance and the financial statements, and electing the strata committee for the year ahead. Every scheme must hold one each year.
What happens at the AGM
- Approve the budget and set the levies.
- Review the financial statements and the scheme’s insurance.
- Elect the committee for the coming year.
- Deal with any motions owners have submitted.
How owners take part
Owners receive notice and an agenda beforehand, then take part in person, by proxy, or electronically where the scheme allows. Getting the notice and agenda out correctly, on time, is what makes the meeting’s decisions valid.
Running the AGM without a manager
The AGM has strict notice, agenda, quorum and minute requirements — the part most likely to trip up a self-managed committee. A system such as Straita builds the notice and agenda, runs the meeting record, and tracks the deadlines, so a self-managed scheme’s AGM is done properly and its decisions hold.
Primary sources
- Strata Schemes Management Act 2015 (NSW) — annual general meetings, notice and required business.
- NSW Government — Strata schemes (Fair Trading) — strata meetings and the AGM.