Funds Management (NSW Only)

The instructions in this article relate to Funds Management. The icon may be located on your StrataMax Desktop or found using the StrataMax Search.

The Funds Management Report (Sec. 41 of the Property and Stock Agents Regulation 2022) is for NSW buildings only, For information on the report go to Part 5 Records, Sec. 41 of the regulations.

The report shows expenses verses the budget and amounts owing by owners, e.g. Section 5 of the report is the amount disbursed to date and Section 7 of the report is the amount still payable compared to the budget. 

The figures may be different due to the budget being entered as 'Gross' or 'Net' figures, the difference being GST. The report always is inclusive of GST. Please read all the conditions required in regards to producing the report.  

The Funds Management Report can only be produced for a quarterly period that is within the current financial year or the old financial year. Therefore it is recommended that this report is produced monthly to cater for properties where a quarterly period will not fit within the financial year.

Security Setup

Accessing this report can be configured via Security Setup and the function that determines the access to this area is referred to as Form 150 Report.

1. Search or select Security Setup.
2. Select the User or Group to review the access for.
3. Enter the term Form 150 Report and right click to set the appropriate access.

Setup and Configuration Settings

1. Search or select Funds Management. 
2. If prompted, enter the Last Report Date. This is only required the first time you open Funds Management Report.
3. Select the File menu > Configure.

Funds Management Report - Signature

The Funds Management Report can have a signature automatically printed at the end of the report. The signature may be either the Account Manager (if they have been delegated for this purpose) or the licencee.  

You will need to create an Account Manager or a Licencee as an account manager with a signature. To create an Account Manager and signature go to Account Manager Edit. 

Select either Account Manager’s or Licencee’s signature. The location for printing the signature can be changed in the Options menu > Funds Management Report Signature Locator. If the signature is located at the bottom right corner of the page in the signature file, try setting the location at horizontal 1500, and vertical –1100

DocMax

Always Send Report to DocMax
If set, this will prompt after the report is produced to confirm whether the report will be added to DocMax.

DocMax - Period in Ref Field
If set, the period of the report will be in the Reference field and not in the title. If the report will be uploaded to the StrataMax Portal, we suggest that this setting is left unticked so the report date is presented in the title of the document. 

DocMax Category
When the document is set to DocMax, this will be the category that the document is saved under. Select from the DocMax category list.

StrataMax

Group 
Select the StrataMax Portal document group. Depending on the group set up in StrataMax Portal, this can be uploaded to the StrataMax Portal and displayed.

StrataMax Display Period (Months)
Enter how long you want the report to stay on the Portal for owners/committee to view.

Options Menu

The Options menu contain a number of options available to the Funds Management Report. 

1. Search or select Funds Management.
2. Select the Options menu.
3. Select one of the following options.

Creating a Funds Management Report

The Funds Management Report creates the report based on the dates of the previous report to enable the reports to be consistent. It is recommended to produce this report Monthly. 

1. Search or select Funds Management.
2. Go to the Recipients tab and tag the recipients. If the field 'Send Status Report' in Office Bearers is set to Y, they will automatically be tagged as a recipient.
3. Tick Print Cover Sheet if required.
4. Tick Send To DocMax / StrataMax if required.
5. Select Change Building and tag properties as required. 
6. Click Proceed, then click Close to close.

Creating a Funds Management Report for a Specific Period

The following instructions will create the Funds Management Report for a specific period. To set the report period, navigate to the Funds Management Report and enter the required To date. It is recommended that this report is produced Monthly as a Quarterly report can only be created for a period within the current financial year or the old financial year.

The report cannot be produced for a calendar quarter period where this is outside the boundary of the current financial year. For example where a building has a current financial year of 01/11/2019 to 31/10/2020, 01/07/19 to 30/09/19 would be a valid period. However 01/10/20 to 31/12/20 would be considered an invalid period as the start date is prior to the current financial year.

1. Search or select Funds Management.
2. On the Periods tab, click the date under 'This Report Period' and change the 'to' date.
3. In the Recipients tab, tag the recipients if required. If the field 'Send Status Report' in Office Bearers is set to Y, they will automatically be tagged as a recipient.
4. Tick Print Cover Sheet if required.
5. Tick Send To DocMax / StrataMax if required.
6. Click Proceed, then click Close to close.