The Annual General Meeting (AGM) is one of the most important dates on an Owners Corporation calendar. It’s the moment when committees can reflect on the past year, set priorities for the next, and ensure their community continues to operate smoothly and compliantly.
But with so many moving parts financial reports, maintenance updates, budget setting, and voting requirements it’s easy for details to slip through the cracks. A little preparation goes a long way to keeping your AGM organised, efficient and positive.
Here’s a practical checklist to help your committee get ready for a successful meeting.
- Review Last Year’s Minutes and Action Items
Start by looking back before you look forward. Review the previous AGM minutes and confirm that all key resolutions or action items have been completed or, if not, that progress updates are ready to be shared.
This simple step ensures accountability and provides continuity between years. It also helps remind the committee of recurring items such as insurance renewals, maintenance contracts or rule amendments that need to be discussed again.
- Confirm Your Financial Records Are Up to Date
Financial transparency is one of the most important responsibilities of an Owners Corporation. Before the AGM, your strata manager should prepare and circulate detailed financial statements showing income, expenditure, and the balance of the administrative and maintenance funds.
Take time to review these documents carefully. Check that all invoices and receipts have been entered, and confirm whether any special levies or arrears require attention. If you have ongoing projects, such as lift upgrades or façade repairs, ensure that budget forecasts are realistic and include contingencies.
Having this information clearly presented at the AGM helps owners make informed decisions and builds trust across the community.
- Finalise the Agenda and Circulate Notices
Under Victoria’s Owners Corporations Act 2006, formal notice of the AGM must be sent to all lot owners at least 14 days before the meeting date. The notice must include the agenda, proxy forms, voting papers (if applicable), and financial statements.
Work closely with your strata manager to make sure these materials are accurate and complete. Your agenda should typically cover:
- Confirmation of previous minutes
- Reports from the chairperson and manager
- Presentation of financial statements
- Budget for the next financial year
- Election of committee members and office bearers
- Insurance updates
- General business and owner questions
A clear agenda not only keeps the meeting on track but also helps owners prepare meaningful questions or contributions in advance.
- Review Insurance Coverage
Your AGM is the ideal time to review your current insurance policy and confirm that the level of cover remains appropriate. Strata insurance is mandatory, but the right policy depends on your property’s type, age, and usage.
Check that valuations are current and that the sum insured reflects replacement costs, not just market value. It’s also worth discussing optional cover such as machinery breakdown, office bearer’s liability, or flood protection.
- Audit Maintenance and Compliance
A well-run Owners Corporation not only meets its financial obligations but also keeps its buildings safe, functional and compliant. Before your AGM, review:
- Essential safety measures (ESMs) – fire extinguishers, alarms, exit lighting and emergency signage should all be current and inspected.
- Common area maintenance – lighting, gardens, lifts and carparks should be in good order.
- Contractor compliance – check that all trades engaged have current licences and insurance certificates.
Your strata manager can provide a summary of outstanding maintenance or compliance tasks to be discussed at the meeting. Documenting this clearly helps the committee prioritise works for the year ahead and allocate funds appropriately.
- Plan for Committee Elections
Every AGM includes the election of committee members for the next 12 months. If your committee has struggled with participation, take this opportunity to encourage new volunteers.
Consider outlining the roles and responsibilities of committee members in the AGM notice, so owners understand the time commitment and contribution expected. Remind owners that serving on the committee helps protect the value of their investment and gives them a voice in how their community is managed.
MBCM’s strata specialists can help guide election processes to ensure compliance with the Act and a smooth transition between outgoing and incoming members.
- Encourage Constructive Discussion
AGMs can sometimes become dominated by operational issues or complaints, but they also offer a chance to celebrate achievements and look ahead. Encourage participants to focus on solutions and shared goals.
If contentious topics are on the agenda—such as noise complaints, rule enforcement, or capital expenditure—ask your strata manager to provide background information and possible options before the meeting. This helps keep discussions factual and productive rather than emotional.
Remember: the AGM sets the tone for the year. A respectful and forward-looking meeting builds confidence and goodwill across the community.
- Keep Accurate Records and Follow Up Promptly
After the meeting, your strata manager will prepare and circulate minutes within the agreed timeframe (usually within seven days). Review them carefully to ensure all resolutions, votes, and action items are recorded correctly.
The real value of an AGM comes from following through on those resolutions. Schedule the first committee meeting soon after the AGM to plan implementation steps and assign responsibilities.
Ready, Set, AGM
A successful AGM doesn’t just tick a compliance box—it strengthens the foundation of your strata community. With good preparation, open communication, and the right professional support, it becomes an opportunity to align on goals, plan proactively, and reinforce a culture of transparency and trust.