The short version
- The long-term plan — capital works fund plan (NSW), sinking fund forecast (QLD), maintenance plan (VIC) — sets the levy for major items over ten years.
- It only works if it is connected to a preventive schedule of the recurring services that keep those items alive.
- Both need an asset register: what the building owns, its age, its condition and who services it.
- Software links the three so the committee sees plan, schedule and spend in one place.
What the legislation asks for
| State | Long-term plan | Fund | Notes |
|---|---|---|---|
| NSW | 10-year capital works fund plan | Capital works fund (plus administrative fund) | Prepared at the first AGM and reviewed at least every five years; the plan informs the capital works levy. |
| Queensland | Sinking fund forecast | Sinking fund (plus administrative fund) | The body corporate budgets for anticipated major capital expenditure over a rolling period; the regulation module sets the detail. |
| Victoria | Maintenance plan | Maintenance fund | Mandatory for larger (tier 1 and 2) owners corporations and optional for others; covers major capital items over ten years. |
| WA | 10-year plan for schemes of 10 or more lots | Reserve fund | Introduced with the 2020 reforms to the Strata Titles Act. |
Three layers of one plan
The asset register
Every common-property asset with a life and a cost: lifts, pumps, fire systems, roof membranes, façade, car park doors, pool plant, hot water, paint, carpet, intercom, CCTV. Record install date, expected life, condition, replacement cost and the contractor who services it. Without this the forecast is a guess.
The long-term forecast
For each asset, when replacement or major refurbishment falls due and what it will cost, projected over ten years. This is what a quantity surveyor produces and what sets the capital works or sinking fund levy. Review it whenever a major item moves.
The preventive schedule
The recurring services that keep assets on their expected life: monthly fire system tests, quarterly pump servicing, annual anchor-point certification, lift maintenance contract visits, backflow testing, cooling tower and pool inspections, gutter clearing before storm season. Each has a frequency, a contractor, a compliance document and a next due date.
Where plans fail
The forecast is a PDF, the schedule lives in the contractor's diary, the asset register is a spreadsheet from 2019 and none of them refer to each other. The lift is refurbished two years early because the schedule slipped and the plan did not know. The fire safety statement is signed on time only because the contractor remembered. When the building manager changes, all three start from zero.
Turning the plan into a schedule that runs
Recurring jobs generated automatically
Each preventive task creates its work order ahead of the due date, assigned to the contractor, with the last certificate attached.
Compliance evidence in one register
Fire safety, lifts, pools, cooling towers, anchors, backflow and contractor insurances with due dates and the documents that prove them.
Forecast next to actuals
The 10-year plan held against the register, with spend recorded as jobs complete, so the committee sees the gap before the AGM.
Defects and warranties
Building defects tracked separately from wear and tear, with warranty periods and the builder's obligations recorded.
Reports for the committee and the auditor
Overdue services, upcoming replacements, spend by asset and contractor, exported for the AGM papers.
Residents told automatically
Planned water shutdowns, lift outages and fire tests notified from the job itself, in each resident's language.
A practical starting sequence
- Walk the building with the building manager and list every asset, photographing plates and serials.
- Pull the existing quantity surveyor report and map each line to an asset in the register.
- List the recurring services and contracts already running; set frequencies and next due dates.
- Load contractor insurances and licences with expiry dates.
- Set the committee's dashboard to show overdue services and the next twelve months of the forecast.
- Review the forecast after each major job and at least every plan-review cycle.
TowerDesk includes the asset register, maintenance schedule, compliance register, defects register and capital works plan modules in every building's portal. See the strata maintenance management software page for the full workflow, or the building manager's view of the same tools.
Make the plan operational
Bring your QS report and your contractor list; we will show you the register, forecast and schedule running together on your building. Book a walkthrough.
Frequently asked questions
Is a strata maintenance plan compulsory in Australia?
A long-term plan for major capital items is required in most states: the 10-year capital works fund plan in NSW, the sinking fund forecast in Queensland, the maintenance plan for larger owners corporations in Victoria and the 10-year plan for schemes of 10 or more lots in WA. Smaller schemes in some states are exempt or may opt in.
What is the difference between a capital works fund and an administrative fund?
The administrative fund pays for recurring running costs — insurance, cleaning, utilities, routine maintenance. The capital works fund (NSW), sinking fund (Queensland) or maintenance fund (Victoria) pays for major capital replacement and refurbishment forecast in the long-term plan.
Who prepares a capital works fund plan?
Usually a quantity surveyor or specialist consultant prepares the forecast, and the owners corporation adopts it at a general meeting. The building manager and committee then need to keep it current as assets are serviced or replaced.
How often should the plan be reviewed?
NSW requires review at least every five years; other states set their own intervals. In practice, review it after any major replacement or failure and before each AGM budget.
Does TowerDesk include a maintenance plan?
Yes. Asset register, preventive maintenance schedule, compliance register, defects register and capital works plan are all included in every building's portal, with recurring work orders generated automatically and evidence stored against each asset.