"The whole strata community owes a huge debt of gratitude to you and the OCN executive. Much appreciated."
18.104.22.168 Approval of the annual budget and levies
The budget needs to be approved by the owners corporation at the annual general meeting which gives the executive committee the authority to spend. Once approved the default position in NSW is that the executive committee needs to stick to the budget (i.e. they cannot go over 10% on any line item except in an emergency). Most owners corporations vote to waive the 10% rule or else they will get very bogged down in due process especially if spending is slightly out of sync year on year.