The budget function on the building card allows you to plan each building’s income and expenditure for the coming levy/fee year. Once the budget has been approved by the AGM, you can accept it on PropertyIQ, triggering the automatic striking of levies for the coming year and rolling over the levy/fee year. The budget function allows you to create budgets for your admin fund and your sinking/reserve/capital works/maintenance funds and separate budgets for each schedule in a multi-schedule building. The BMC budgeting function allows you to calculate budgets for Building Management Committees.
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Building Management Committees need to create budgets using different criteria to those used for strata buildings, with contributions calculated using different allocation methods. The allocation methods settings allow you to create different percentages for different types of expense.
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