Sinking Fund Forecast

QBM is a building inspection and reporting company dedicated to providing professional, quality, value for money service. QBM pride themselves on assisting Body Corporate Managers and Committees to save valuable time and money with their wide range of services and free phone advised information. While many companies tend to focus on the bottom line, QBM focus is on their clients and their needs.

"Legislation makes it mandatory for every Body Corporate to prepare a sinking fund forecast."
The sinking fund forecast is based on estimates of spending of a capital nature or non-recurrent nature and must allow for raising the necessary capital amount to provide necessary and reasonable spending for major works in the present financial year and create a reserve for anticipated major expenditure for the next 10 years.

The forecast must be for a minimum of 10 years and it is a statutory requirement that the provisioning be done properly. This is where QBM can play a vital role.
It is a requirement of the Act that any Sinking Fund Forecast be kept refreshed and current so it will be a representative of the state and status of the building and all Common Property.

If the Sinking Fund report has not been updated for a number of years it will almost certainly not be representative of the funding needs of your complex, and so it is likely that the Body Corporate will be under-funding the Sinking Fund, ie. Not saving enough. The consequences of this could be serious.

You can meet every sinking fund forecast requirement with the help of QBM. We will work with you and your body corporate to devise a forecast that covers all your needs.