When must financial statements be provided to owners?

The body corporate must table financial statements for the preceding financial year at the AGM. These must be: - Prepared in accordance with the relevant module regulations - Included with the AGM notice sent to all owners at least 21 days before the meeting - Available for owners to inspect at any time on request Financial statements typically include: - Balance sheet (assets and liabilities of each fund) - Income and expenditure statement - Notes explaining significant items For larger schemes, the statements may be reviewed or audited by an external accountant. A lot owner can also request financial statements at any time outside the AGM cycle — they form part of the records that must be made available for inspection. This article is general information only and not legal advice.