BODY CORPORATE No: 356438

BODY CORPORATE AT: 37 Symonds Street, Auckland City

Annual General Meeting

Held at the Head Office of Charta Management Ltd,
Level 9, Wyndham Towers, 38 Wyndham St, Auckland, on Monday 15th December
2014 commencing at 10.09 am

MINUTES
Attendance/Proxies:
Mishael Logan (ML):
Anton Jacobs (AJ):
Naomi Logan (NL):
Adam Yates (AY):

Charta
Charta
Charta
Owner 1304 Forte

Proxies = 66

Total attendance by proxy or in person: 67 therefore a quorum is present.

1. Appointment of Chairperson
The following persons have been appropriately nominated as the Chairperson, and have consented
to that nomination.
Adam Yates (Owner of Unit 1304) has been nominated as Chairperson by Marcello Lo Castro (
Owner of 1409).
Voting: Unanimous for appointment of Adam Yates as Chairperson
RESOLUTION 1 APPOINTMENT OF CHAIRPERSON
The Body Corporate resolve, by ordinary resolution that Adam Yates be elected to the position of
Chairperson.
Following election, Mishael Logan continues as Chair of the meeting per the delegated authority of
Resolution 8.
2. Minutes of previous meeting
RESOLUTION 2 AGM MINUTES
It is resolved unanimously, by ordinary resolution, that the minutes of the AGM held
Wednesday 26th February 2014 be accepted and approved as a correct record of that AGM.

3. Financial Statements
The Annual Accounts for the year ending 30 November 2013 were discussed broadly at the
meeting. AY proposed voting to change the Body Corporate meetings to four months after the
budget is set so the Body Corporate could have audited accounts at the meeting. AY proposed a
change of Body Corporate meeting dates to June of each year. ML proposed that if any owners
could not attend the June meetings due to scheduling clashes they could vote either via postal via
or proxy. AJ proposed that for the purposes of the meeting that the proposed levies and budgets
CHARTA MANAGEMENT LIMITED

are voted on in the current meeting however agreed to be adjusted in June if the audited financial
statements changed.

RESOLUTION 3 APPROVAL OF 2014 FINANCIAL STATEMENTS

It is unanimously resolved, by ordinary resolution that the next meeting would be held in June
2015 with notices of such meeting to be issued by late May 2015 upon which owners have the
option of postal or proxy vote. It is unanimously resolved by ordinary resolution that the levies
and budgets would be reassessed at that time and adjusted if required as per the audited
accounts.

4. Appointment of Auditors
RESOLUTION 4 APPOINTMENT OF AUDITORS
It is unanimously resolved, by ordinary resolution, that Auckland Chartered Accountants be reappointed as auditors for the Body Corporate.

5. Body Corporate Levies & Budget

The Annual Budget and fixing of levies for the period 1/12/2014 to 30/11/2015 was briefly
discussed as most matters were covered in the discussion of the Financial Statements above.

RESOLUTION 5 APPROVAL OF BUDGET

It is unanimously resolved, by ordinary resolution, that the Annual Budget and levies for the
period 1/12/2014 to 30/11/2015 be approved subject to any adjustments in the June 2015
Body Corporate meeting. It is unanimously resolved, by special resolution that the Body
Corporate move $20,000.00 to the LTMP from General Funds. These allocated funds are due
to savings made by the Body Corporate due to renegotiation of contracts and a further
reduction of costs which has carried over from the 2013 financial year.

6. Long Term Maintenance Plan (LTMP)

The LTMP was discussed. NL confirmed that tenders were currently being taken for exterior and
interior refurbishment and maintenance as per the LTMP and due to extensive negotiation the Body
Corporate was finding suitable tenders being submitted below the allocated level as per the LTMP.
This would provide the owners with a further saving on the LTMP budget.

RESOLUTION 6 APPROVAL OF LONG TERM MAINTENANCE PLAN

It is unanimously resolved, by extra ordinary resolution that the Body Corporate move $20,000.00
to the LTMP from General Funds. These allocated funds are due to savings made by the Body
Corporate due to renegotiation of contracts and a further reduction of costs which has carried over
from the 2013 financial year.

CHARTA MANAGEMENT LIMITED

It is unanimously resolved, by ordinary resolution that the Long Term Maintenance Plan be retained
for the next financial year.

7. Body Corporate Administration

The proposed resolutions are discussed by the meeting. ML notes that the formation of a Body
Corporate Committee is practical if a property has a majority of owner occupiers. In the case of a
building like Forte, where the majority owners are investors and the building is operated in a more
commercial manner, the formation of a committee is counterproductive considering the tasks
required are performed by a manager most of the time.

RESOLUTION 7 BODY CORPORATE COMMITTEE

It is unanimously resolved, by special resolution, that a Body Corporate Committee not be
formed.
RESOLUTION 8 MANAGEMENT AGREEMENTS
It is unanimously resolved, by ordinary resolution, that the Body Corporate Secretary continues
to perform its contracted functions and assist the Chairperson and Body Corporate as the case
may be, in the performance of their duties, and report to them accordingly.

8. General Business
NL confirmed that as per General Business Resolution 8 of the previous meeting, quotes had been
received to install water meters on each apartment in order to affect positive savings for the Body
Corporate owners in relation to water charges. The estimated cost of installation of hot and cold
meters per apartment is estimated at $742.45 per apartment with a total estimated cost for all
apartments as $99488.82. The estimated cost for the commercial units is $4143.80. It is unanimously
resolved, by ordinary resolution to approve the quote by Plumbing Today Ltd obtained as per the
resolution of the previous AGM to install a water meter system that will measure total consumption of
both hot and cold water per apartment. This system will then allow the Body Corporate to charge
owners individually for their apartments water consumption thus saving the Body Corporate owners
substantially on water charges. NL confirms there will still remain a small portion of water consumption
used only for BC use and thus included in the BC levies and a small administrative fee for collection and
processing of the water charges from each apartment owner. Body Corporate owners with tenanted
apartments then are able to on-charge the costs of the tenants metered water consumption for
reimbursement and thus reduce their charges even further. AY proposes to fund the water meter
installation out of the current funds but levy the charges as a special levy during the current financial
year. It is unanimously resolved, by ordinary resolution to raise a special levy in regards to the water
meter installation charges as an additional levy to the Body Corporate budget with payment to be
received by all owners within three month of issue.

CHARTA MANAGEMENT LIMITED

The Body Corporate wishes to thank Scott McFarlene (owner of 106) for his two years served as
chairperson for the Body Corporate.
There being no further general business the meeting is closed at 11.25 am.

CHARTA MANAGEMENT LIMITED