Unit of competency Outline

Date retreived
22/07/2026 9:58 PM AWST

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Coordinate preparation of strata community budgets

Coordinate preparation of strata community budgets

Unit of competency
National Code
CPPSCM4086
State Code
ODO51
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
17/10/2021
View on TGA
State Implementation and Classification
Approved Date
28/01/2022
Field of Education
080503 - Real Estate
Original Release Date
28/01/2022
Nominal Hours
20
Description
This unit of competency specifies the skills and knowledge required to coordinate the annual budget for a strata community. It includes gathering budget information, identifying projected income and expenditure, overseeing preparation of the budget and presenting the budget to the strata community.This unit is suitable for strata community managers who apply a broad range of skills and knowledge to complete routine and non-routine tasks and deal with predictable and sometimes unpredictable problems. Strata community managers may also be known as strata managers, owners’ corporation managers or body corporate managers depending on the jurisdiction of operation.Licensing, legislative, regulatory or certification requirements apply to strata community management in some states and territories. For further information, check with the relevant regulatory authority.
Notes
Elements and Performance Criteria
1 Gather and analyse budget information for strata community.
  • 1.1 Identify regulatory requirements relevant to strata community funds, contribution levies and fees, including overdue fees, in the jurisdiction of operation and apply to budget planning to ensure compliance.
  • 1.2 Source and collate information to support budget preparation and select appropriate budgeting method according to regulatory and workplace requirements.
  • 1.3 Analyse budget performance of previous year to identify information for inclusion in annual budget.
  • 1.4 Consulting with relevant persons to identify ways to reduce strata community expenditure.
  • 1.5 Consult with relevant persons to identify and document strata community expenditure priorities.
2 Identify and document projected income and expenditure.
  • 2.1 Identify sources of strata community income and expenditure.
  • 2.2 Conduct calculations to prepare expenditure estimates relating to administrative activities, including repairs, maintenance and contractual and regulatory obligations.
  • 2.3 Identify potential variations to income and expenditure estimates and assess their impact on the overall budget.
  • 2.4 Identify situations requiring raising of additional or one-off levies for strata community.
  • 2.5 Document projected income and expenditure according to regulatory and workplace requirements.
3 Oversee budget preparation.
  • 3.1 Organise budget preparation in consultation with strata committee and relevant persons according to regulatory and workplace requirements.
  • 3.2 Review budget documentation and seek clarification as required from relevant persons to ensure accuracy.
  • 3.3 Check expenditure commitments against final income estimates.
  • 3.4 Prepare cash flow forecasts and include contingencies in draft budget.
  • 3.5 Review draft budget and propose any required modifications in consultation with relevant persons.
4 Finalise and present strata community budget.
  • 4.1 Consult with strata community committee to finalise and approve draft budget according to regulatory and workplace requirements.
  • 4.2 Present draft budget and schedule of contribution levies and fees to the strata community committee for approval according to regulatory and workplace requirements.
  • 4.3 Regularly review budget and report variances to strata community committee according to regulatory and workplace requirements.
No information
No information
Replaces
State Code National Code Title Type
AXF05 CPPDSM4086 Oversee preparation of strata community budgets Unit of competency
State Code National Code Title Type
BHD6 CPP40521 Certificate IV in Strata Community Management Qualification