Get ready to elevate your knowledge with Strata Life podcast, the place where you should go to learn and get inspired on all matters strata. Welcome to Strata Life by Rochelle Castro. And today I will be talking about what is the purpose of the Strata community's budget. The, there are three components to a Strata community budget, which is raised at the annual general meeting.

And it's important that you as lot owners attend the annual general meeting so that we could have a say on the budget that's going to be passed in the next 12 months or within the financial year period. So the three components of a strata community budget are the following you've got the administration budget.

You've got the maintenance or sometimes they call sinking fund. Others call it capital works fund budget, and you've got the special levy. So the ad ...