Strata Admin Fund Budget Template and How to Set Next Year's Levies (NSW, Vic, Qld)

The short answer

The budget is adopted at the AGM. The committee, treasurer or strata manager usually drafts it. The owners decide.
Levies follow the budget. In NSW, they're set at the same AGM and shared by unit entitlement (SSMA ss 79, 81, 83). In Victoria, annual fees are shared by lot liability (OC Act s 23). In Queensland, levies are fixed by ordinary resolution (Standard Module s 162).
Start from last year's actual spending, not last year's budget. Then add the changes you already know about.
Owners need notice before each levy is due: at least 30 days in NSW and Queensland. In Victoria, owners have 28 days to pay a fee notice.

The budget template

Copy this table into a spreadsheet. Fill in last year's actual figures from the ledger, this year's budget from the last AGM, and your proposal for next year. All amounts should include GST unless your scheme is registered for GST.

Line item	Last year actual	This year budget	Next year proposed	Notes
Insurance
Building and public liability				Renewal date, broker quote
Office bearers' liability and fidelity
Other policies, such as machinery breakdown
Utilities
Common area electricity
Water and sewerage
Gas
Contracts
Cleaning				Contract end date
Gardening and grounds
Building manager or caretaker
Lift maintenance
Fire services maintenance
Pest control
Waste and bins
Repairs and maintenance				Day-to-day only. Major works belong in the long-term fund
General repairs
Plumbing
Electrical
Compliance
Fire safety inspections and certification
Audit or review of the accounts
Tax and BAS preparation
Management and administration
Strata management base fee
Additional management fees
Disbursements
Software and subscriptions
Bank fees
Postage, printing and meeting costs
Legal and disputes
Contingency
Total expenditure
Less: interest and other income
Less: surplus or plus deficit carried forward
Amount to be levied

Turning the budget into levies

Get last year's actual figures. Use the income and expenditure statement or the ledger, not last year's budget. A line that was over or under budget tells you something.
Add what you already know. Contract renewals, the insurance renewal quote, new compliance costs, a cleaning contract that's going up.
Check what belongs in the other fund. Major or irregular works go in the capital works, sinking or maintenance fund. Day-to-day costs go in the admin fund.
Add a contingency for the unexpected, and say how you sized it.
Take off other income, such as interest, and adjust for any surplus or deficit.
Work out the amount to levy, then split it across the lots using your state's basis:
- NSW: in proportion to unit entitlements (s 83(2)).
- Victoria: annual fees by lot liability (s 23(3)). Fees that pay for insurance premiums are shared by lot entitlement (s 23A).
- Queensland: by the lot entitlements in your community management statement, fixed by ordinary resolution (s 162).
Set the instalments and due dates. Quarterly is common, but nothing in NSW law makes it the default. The AGM decides (s 81(5)).
Put the budget and levies to the AGM with the notice, so owners can read them first.
Send levy notices in time. NSW: at least 30 days before the due date, or 14 days for emergency repairs (s 83). Queensland: at least 30 days (s 163). Victoria: a fee notice on the approved form gives owners 28 days (s 31).

The rules by state

	NSW	Victoria	Queensland
Who adopts the budget	The owners corporation at the AGM (s 79)	The owners corporation sets fees (s 23). The proposed budget goes with the AGM notice (s 72)	The AGM, by ordinary resolution (s 160)
Who usually drafts it	A committee member or the strata managing agent (s 13)	The committee or manager	The committee must prepare it (s 160(5))
How levies are shared	Unit entitlement (s 83)	Lot liability, with insurance by lot entitlement (ss 23, 23A)	Lot entitlement under the community management statement
Notice before due date	At least 30 days, or 14 for emergency repairs (s 83)	28 days to pay a fee notice (s 31)	At least 30 days (s 163)
Interest on late payment	10% a year simple interest, after 1 month. The owners corporation can resolve not to charge it (s 85)	Only if a general meeting authorises it, capped at the penalty interest rate (s 29)	Up to 2.5% a month (s 165)
Early payment discount	10%, if a general meeting resolves (s 85(4))	Check your rules	Up to 20% (s 164)
Interim levy before the AGM	No power found. Existing regular levies continue (s 83(4))	Fees are set by the owners corporation. The committee can act under delegation unless the power is reserved (s 11)	The committee can fix an interim levy (s 162(3))
Mid-year shortfall	Special levy at a general meeting (s 81(4))	Special fees. A special resolution is needed if they exceed twice the annual fees (s 24)	Special levy (s 162(2))

Extra rules for large NSW schemes

Schemes with more than 100 lots must itemise the estimates, with "specific amounts in relation to each item" (s 79(6)). They can't spend more than the estimate plus 10% on an item without a general meeting resolution, except in an emergency (s 102). Every NSW scheme needs at least 2 independent quotes for work over $30,000 (s 102; Regulation cl 25).

Queensland's 10% rule

At the AGM, owners can adjust the proposed budget by up to 10% to fund or remove spending in a motion on the agenda (s 161). Anything bigger means a new budget.

AGM checklist for the treasurer

Common questions

Can the committee change the budget after the AGM?

Not on its own. In NSW and Queensland, the budget and levies are set at a general meeting. A shortfall needs a special levy decided at a general meeting (NSW s 81(4)) or by ordinary resolution (Queensland s 162(2)). In Victoria, check whether the owners corporation has reserved fee-setting for general meetings.

Should we budget for a surplus?

Plan for a modest contingency, not a large surplus. In NSW, distributing a surplus back to owners needs a unanimous resolution (s 77). A big surplus usually just sits in the account.

Can the admin fund pay for capital works?

In NSW, money can move between funds, but the owners corporation must decide within 3 months, at a general meeting, whether to pay it back (s 76). In Queensland, transfers between the funds aren't allowed (Standard Module s 167(7)). The cleaner approach is to budget each fund for its own purpose.

Where UnitBuddy fits

UnitBuddy tracks the budget against actual spending through the year, so the treasurer starts next year's budget with real numbers instead of rebuilding them from statements. Owners see their own levies and arrears in My Lot.