1. 2016 Committee of Management (COM) Report from the Chair What, how and when

2. What We Do (Objectives of the COM)  Maintain safety and security of all residents  Maintain the amenities and ambiance that have made Balencea special  Promote a sense of community  Protect the investment of owners  Control the running costs (fees)

3. How We Do It  Fix what is broken, and do it quickly  Enforce the Owners Corporation Rules  Recommend changing the Rules where doing so contributes to the Objectives  Listen to the concerns of residents and owners, and act when appropriate  Monitor performance and negotiate contracts for the building management (FMV) and strata manager (Procorp)  Invest in ways to keep costs lower over time

4. When and How We Make Decisions  Hold 6 formal meetings per year  Empower sub-committees for specific issues  Communicate in person or email frequently  Consider all points of view, then decide by majority vote  Always mindful of Victorian Owners Corporation Act 2006 and the Balencea Owners Corporation Rules

5. Always Keep in Mind  Balencea is in essence a vertical village, with 84 residences and one business  Over 150 residents, plus many absentee owners  Act in the best interests of the majority, but always consider the interests of the minority  Goal is to be Fair To All and keep as many of you happy as we can; however …

6. Means enforcing Rules that some people might not like  Rules protect all residents and owners  Can be changed by a Special Resolution, which can be initiated by the Committee or an owner (or a resident who has the proxy of an owner)  While a Rule stands, it will be enforced.

7. Accomplishments  Eric will speak to a number of accomplishments during the past year  First, a few things that were dealt with primarily at the Committee level

8. Safety in Parking Garage  As resolved at the last AGM, a thorough safety audit was undertaken by an external expert  One of the key findings had to do with speeding in the parking garage  Previously identified as an issue  Has led to installation of new speed bumps  Considering alternative ways to slow speeders

9. Change in Strata Manager  Previous contract with The Knight Alliance expired at end of 2015  Considered several alternatives, with a view to improving service and reducing cost  Agreed to a new 2-year contract with Procorp

10.  Intense negotiations and the economies achieved by investments in previous years  Held the operating budget constant for 2016  Previous increases have been 2.2% in 2015, 2.9% in 2014, 5.2% in 2013, 6.5% in 2012 and 9.5% in 2011.  Increase of 2.8% to Maintenance Budget

11. New Residential Buildings  Five new residences approved or proposed  12 Queens Rd  14 Queens Rd  20-22 Queens Rd  450 St Kilda Rd  424-426 St Kilda Rd (Iloura Building)  Add about 1100 new apartments, all having sole vehicular access to Queens Lane

12. What have we done about it?  Met with State MP  Continue to work with with local precinct Councillor (Andrew Bond)  Continued to network with COM Chairs of nearby buildings (Lucient, Royal Albert, Royal Domain Tower, and Grandview)  Joined the G12+ group of concerned local residents

13. Over to Eric to talk about some specific accomplishments during the past year

14. Building Manager’s Comments What We Have Done in 2015 (Environment) Completed annual testing and maintenance of all apartment smoke alarms Developed a car park private power point and electric car check meter installation standard Implemented an Emergency Response Plan and Fire Warden system Settled Temperzone defect class claim and returned monies to owners

15. Building Manager’s Comments What We Have Done in 2015 (Improvements) Completed all repairs to reported defective window latches, stays and balcony door locks Upgraded security door at the service entry on Queens Lane Installed 70mm speed humps (that meet the Australian Standards) Installed two new security cameras Completed final stage of our lighting retrofit to car park areas Completed an independent safety audit and implemented all 16 recommendations

16. Building Manager’s Comments What We Expect To Do in 2016 Resolve outstanding defects with Sunland Investigate and if feasible install speed cameras in the car park Investigate further actions to eliminate or reduce spider problem Search for more ways to reduce utility charges (gas, water, electricity) Make some minor changes to lighting in car parking area

17. Q & A