Latest revision as of 11:05, 4 October 2026

Our strata's financial year is the same as the calendar year - it runs from 1 January to 31 December.
By law, the strata's council year CANNOT be the same as the strata's financial year, because the financial year-end statement must be completed before a budget can be prepared for presentation at the AGM.
In BC, stratas are required to maintain two separate budgets: an 'Operating Fund' budget, and a 'Contingency Reserve Fund Budget."
An Operating Fund (OF) budget covers the regular annual costs of operating a strata.
A Contingency Reserve Fund (CRF) budget is for larger maintenance and repair costs, or maintenance and repair costs that don't occur every year.
It's important to understand that a CRF will vary greatly depending on the size and type of strata (hi-rise strata, condominium strata, or bare-land strata).
our bare-land strata, the 'Holmes Creek Estate,' is a small, gated, private subdivision for seniors, composed of of modest, ranch-style, single family dwellings.

Operating Fund

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-[[Monthly Reports|Monthly Reports]]
+* Our strata's financial year is the same as the calendar year - it runs from 1 January to 31 December.
+* By law, the strata's <i><b>council</b></i> year CANNOT be the same as the strata's <i><b>financial</b></i> year, because the financial year-end statement must be completed before a budget can be prepared for presentation at the AGM.
+* In BC, stratas are required to maintain two separate budgets:  an 'Operating Fund' budget, and a 'Contingency Reserve Fund Budget."
+* An Operating Fund (OF) budget covers the regular annual costs of operating a strata.
+* A Contingency Reserve Fund (CRF) budget is for larger maintenance and repair costs, or maintenance and repair costs that don't occur every year.
+* It's important to understand that a CRF will vary greatly depending on the size and type of strata (hi-rise strata, condominium strata, or bare-land strata).
+* our bare-land strata, the 'Holmes Creek Estate,' is a small, gated, private subdivision for seniors, composed of of modest, ranch-style, single family dwellings.
+=Operating Fund=
+[[OF Budget|2026 Operating Fund budget]]<br>
+[[OF Monthly Reports|2026 Operating Fund monthly financial reports]]
+=Contingency Reserve Fund=
+[[CRF Budget|2026 Contingency Reserve Fund budget]]<br>
+[[CRF Monthly Reports|2026 Contingency Reserve Fund monthly financial reports]]
+__NOTOC__