PMR 37 states that trustees shall prepare and present at an Annual General Meeting, a financial statement in conformity with generally accepted accounting practice, which statement fairly present the state of affairs of the body corporate and its finances at the end of the financial year concerned.
The financial statement shall include information and notes pertaining to the proper financial management of the Body Corporate, including:
- the customer age analysis of debts in respects of levies, special levies and other contributions;
- the supplier age analysis amounts owed by the Body Corporate to the creditors; and
- the expiry date of all insurance policies.
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