Module #2 Depreciation Report Familiarisation Steps for Councillors
1. Acknowledge receipt, copyright, terms & conditions of the Report back to the Provider.
If emailed, replies & acknowledgements must be required from all recipients.
If paper versions are distributed, these should be signed for upon hand-over.
2. All Councillors should read thoroughly, then make notations about aspects needing clarifications.
First reading should be 1st page to last page sequentially, in order to understand the entire scope and
inter-connectivity of the contents sections.
3. Understand > Discuss > Comprehend terminologies commonly used –
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- Contingency Reserve Fund
- Operating Expenses Fund
- Models for Contingency Reserve Funding
- Strata Fees CRF Contributions
- Special Levies
- Loans
- Common Strata Property Components
- Expected Life Span
- Effective Age
- Deficiency
- Remaining Life Span
- Quantity Survey
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