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sinking fund reserve fund management for strata and commercial buildings
part 5, so
we've looked at a few items already before so we've gone through the meaning of the
sinking funds
how they go together, we've gone through some of the part of the report
now we'll go back through the effective life of
the building to work out the
elements on how the sinking funds and that go together
okay, so when we were looking in that building earlier on
we can see where we've cut that
into the little sections to make that nice and easy so we can say
the external facade repainting the building
now we've said it's got an effective life of 10 years
so we'll paint that in 10 years so we're looking at repaiting the building
and also balcony ceilings so some balcony ceilings are
owners' responsibility but
sometimes they're included in the overall of the body corporate
so one they can get all painted at the same time and also you can get the lowest possible price
to get that painted at the same time, okay? So that's the two
higher areas that we got from there and the soffits and the door face must be
a little bit earlier on so that's fine and also the balustrading
fittings so to look after the balustrades we puts some money aside
in year 15, okay? So we've got 1 cycle for painting on the main outside
and we've got 2 cycles in here for the other part of the building
so depending on how the building AGCs may
juggle around to workout how these go together and what we need to do
Okay, the roof
so we've got $4,500 looking after the roof and we've got
that in 7 years' time so we've got some money in year 10 and then year 7 after
that so that drops off the other
end of the forecast; this money put aside there for some guttering
now in the stairwell we're looking at repainting the walls so
1, 2, 3, 4, 5 so we've got that in year 5
and then year 10, okay so we've 2 cycles
2 cycles in here in this part of the building building
and we've got some money to put side for some tiling by the look of it there
and the driveway area there's nearly
$800 put aside from there for driveway wash down to get rid off the grime
off the
off the building so off the driveway area so
as to clean that down, it's not a replacement of the whole driveway
so it's just to maintain that in its in the best condition so
depends if you got some ceiling on the driveway
then you'd have to allow a bit extra in there; we've got a little bit of a retaining wall in there so we got some money put
aside for
the boundary fencing and also we've got some money for the retaining wall
but that's not till later in the forecast so
as you can see over the next 15 years
we're pretty right for the next 5 years so then
we can look at something later on down the track, alright
now let's go, so fixtures and fittings
so we're looking at main switchboard to
look up this the main switchboard to look after the main switchboard where
you might get some wires that'll start coming
loose aftger a period of time so that allows for
your electrician to come in and check the board over, tighten up some of the wires
make sure there's no hot spots in that amount of time so it's a small part of
risk management to see how that goes together, looking after your mailboxes and
looking after your
lighting as well, okay? So that's 1 part sitting in here
there's also 1 element in there that's
it's critical in here when we're looking at landscaping
now as the building gets older the problem you'll have is tree roots getting into the
pipework
where you have to dig out the pipework and undo the blocked drain so
that's why we put some money in from here and to look after the pathways so
this gives you a guide
over the next 15 years to say this is what we think
may happen over the next 15 years, you can decide and say okay we don't wanna do
the painting in this year let's
take that forward another 3 years and we might do
this whole section in this year here
but at least that way we can go back and have a look see where our
graph is so we can say okay right O
we're not gonna do our painting here, we'll put it back here we've got enough money to look
after that building
and then that makes it a lot easier for you to manage your building