Owners Corporation Management Services
Financial Management & Administration
Professional financial management is at the core of successful Owners Corporation administration. Strong financial governance goes beyond balancing budgets—it involves long-term planning, transparent reporting, and realistic forecasting. Our comprehensive financial services ensure your OC maintains healthy cash flow, meets all statutory obligations, and plans effectively for future expenditure. Buildings age whether plans exist or not, and our approach helps councils of owners plan ahead to avoid sudden levy spikes and rushed decisions.
Our Financial Services Include:
- Levy Collection & Management - Timely invoicing, collection, and banking of owners corporation fees with automated reminders and follow-up on outstanding payments
- Budget Preparation & Management - Detailed annual budget development for administrative and maintenance funds, with quarterly reviews and adjustments as required
- Financial Reporting - Monthly financial statements, quarterly reports, and comprehensive annual financial reports prepared in accordance with accounting standards
- Management Fund Administration - Proper allocation and management of administrative fund and maintenance (sinking) fund in compliance with Section 24 of the OC Act
- Accounts Payable - Efficient processing of invoices, contractor payments, and utility accounts with proper approval workflows
- Creditor Management - Professional liaison with suppliers and service providers to negotiate competitive rates and payment terms
- Debtor Management - Systematic follow-up on overdue levies, payment plan arrangements, and legal recovery action when necessary
- Bank Account Management - Oversight of OC bank accounts, term deposits, and investment strategies to maximise returns on reserve funds
- GST Compliance - Accurate GST calculations, BAS preparation, and lodgement for registered Owners Corporations
- Audit Coordination - Preparation of financial records for audit and liaison with external auditors as required
- 10-Year Maintenance Plans - Development of long-term capital works budgets and funding strategies for major projects, supporting property values and reducing tension within the community
Financial Stewardship & Long-Term Value
All funds are held in dedicated trust accounts as required under the Owners Corporation Act 2006, ensuring complete separation of client funds and maximum security. Our trust accounting procedures include regular reconciliations, independent audits, and full transparency through detailed reporting. Owners are more comfortable contributing to levies when they understand what the funds support and can see the outcomes over time. This steady approach to financial management supports property values and provides the foundation for sustainable community living.
Discover How Professional Strata Management Can Benefit Your Property
Contact OC Support today to discuss your Owners Corporation management needs and receive a tailored service proposal.