Hi All,
Am after some advice - our Strata Managers in their infinite wisdom have charged legal expenses (which we requested be to our sinking fund) against our Admin fund.
We now have a deficit in our Admin fund which they are requesting we raise a Special Levy to cover. This is a significant cost - yet we have the required amount available in our sinking fund.
We requested a transfer be made but have been informed that the transferred amount will need to be repaid into the sinking fund within 3 months.
Do we have any form of recourse? It seems a paper loss, since we have the money but they are lodged in the wrong accounts.
Am after some advice - our Strata Managers in their infinite wisdom have charged legal expenses (which we requested be to our sinking fund) against our Admin fund.
We now have a deficit in our Admin fund which they are requesting we raise a Special Levy to cover. This is a significant cost - yet we have the required amount available in our sinking fund.
We requested a transfer be made but have been informed that the transferred amount will need to be repaid into the sinking fund within 3 months.
Do we have any form of recourse? It seems a paper loss, since we have the money but they are lodged in the wrong accounts.