35Matters to be dealt with in proposed annual budget—Act,

35 Matters to be dealt with in proposed annual budget—Act, s 159 (5) (a) (1) The following matters must be dealt with in the proposed annual budget for a financial year for a retirement village: (a) the amount of recurrent charges payable by residents of the village during the year (including any expected increases in those charges in line with a fixed formula); (b) the method of calculating the amount of recurrent charges; (c) the total expected income from recurrent charges for the village for the year; (d) the effect of the expected surplus or deficit for the current year on the village’s finances; (e) all proposed categories of expenditure (without grouping together 2 or more unlike categories); (f) the proposed expenditure on each proposed category, the proposed expenditure on each category as mentioned in the approved annual budget for the current year, and the likely actual expenditure on each category for the current year; (g) if any expenditure (proposed or actual) is an apportionment of a total expenditure relating to the village and 1 or more other villages or businesses—the method of calculating the apportionment; (h) if any residents of the village are paying significantly higher recurrent charges than other residents of the village—the method of calculating the apportionment between the categories of residents; (i) the total proposed expenditure of the village for the year;

Financial management Part 6 Proposed and approved annual budgets Division 6.3 Section 36 R12 01/11/25 Retirement Villages Regulation 2013 Effective: 01/11/25 page 25 Authorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au (j) the expected surplus or deficit for the year. Example—par (h) a resident may pay significantly higher recurrent charges than other residents if the resident is receiving optional services (2) If the annual budget includes costs associated with the operator’s head office or management or administration fees, those costs must show the goods and services they relate to and the approximate cost of the goods and services.