This is an AI-assisted review of the records supplied. It reads the documents, sets out what they show and what they do not, and lists the questions worth asking next. Every finding is an indicator to verify against your own records — not a determination about the scheme.
It is not legal advice, not a compliance certificate, and not a substitute for advice from a qualified NSW strata lawyer, conveyancer, building consultant or licensed strata manager. No lawyer or licensed strata manager has reviewed this report.
FoxAudit Report
SP 87412 · 24 Shoreline Drive, Sydney NSW
Key Insight The Key Insight is FoxAudit's single most important observation about your scheme — the thing that most clearly explains the score and tells you where to focus first.
Your fund holds $127,450 against $380,000 in foreseeable 10-year costs. The plan behind those figures was prepared in 2019 and has not been reviewed since, so the levy it informs is set against 2019 prices.
Top 3 Actions The three highest-priority actions from across all findings — sorted by urgency. Each maps to a specific finding in the Category Detail section.
Oceanview Towers scores 67 out of 100 — Attention Needed. Some gaps identified — attention recommended. The score is based on 7 of 8 categories and 5 documents. It reflects what those records show, not a verified position for the scheme.
The records point most clearly to these areas. 2025–26 NSW Strata Reforms (5/100) — The documents pre-date the April 2026 commencement and do not yet evidence any transition planning toward the standard-form Capital Works Fund Plan. Sustainability (15/100) — Sustainability infrastructure was raised by a lot owner in general business but has not been formally assessed or costed in the capital works plan. Meeting Procedures and Insurance are well evidenced at 80 or above.
Your fund holds $127,450 against $380,000 in foreseeable 10-year costs. The plan behind those figures was prepared in 2019 and has not been reviewed since, so the levy it informs is set against 2019 prices.
The documents support 1 HIGH-severity and 4 MEDIUM-severity findings. The three priority items on the cover are where to start; the full action plan follows. Each is a practical step to verify or raise — a committee or general meeting agenda item, not a legal direction.
16 checklist items could not be confirmed from the documents provided — each is listed under “Not confirmed in the documents” with the record that would confirm it. Developer Obligations was not assessed because the relevant documents were not provided. These are not findings against the scheme; they are the gaps in what could be verified from the records supplied.
Each item is a practical step to verify or to raise with your committee or strata manager. Timeframes are FoxAudit’s suggested priority based on the records provided — they are not legal deadlines, and they do not replace advice on what your scheme is required to do.
Urgent
General Meeting
Committee
Annual / AGM
Each question is tied to something the documents provided did not confirm. They ask for records or clarification — they do not assume anything has gone wrong.
These are not findings against the scheme. They are things the documents provided did not show — each may well exist and simply not have been included in what was uploaded. Twelve of the sixteen unconfirmed items are shown here.
| What was not confirmed | Why it matters | What would confirm it |
|---|---|---|
| Plan assessed against the standard form2025–26 NSW Strata Reforms | From 1 April 2026 the Capital Works Fund Plan is expected to follow the NSW Fair Trading standard form. | A plan in the standard form, or a record that the plan has been assessed against it. |
| Transition steps recorded2025–26 NSW Strata Reforms | Documented transition steps show the scheme is moving toward the April 2026 requirements rather than waiting. | Minutes or a strata manager's report recording transition steps. |
| Sustainability included in the plan2025–26 NSW Strata Reforms | The reforms expect sustainability infrastructure to be considered within capital works planning. | A Capital Works Fund Plan that includes sustainability infrastructure. |
| Specific items consideredSustainability | Considering specific items (solar, EV charging, water, materials) is what turns a general intention into a plan. | Minutes, a feasibility note or a plan entry naming the items considered. |
| Feasibility study referencedSustainability | A feasibility study is the clearest evidence that options have been properly assessed. | A sustainability assessment or feasibility study. |
| Levy appears informed by the capital works planBuilding Fund | If levies have not moved since the plan was prepared, the fund is unlikely to keep pace with the works it is meant to pay for. | Budget papers or minutes showing the levy was set with reference to the plan. |
| Independent adequacy assessment recordedBuilding Fund | An independent adequacy assessment is the clearest evidence that the levy is enough for the works ahead. | A quantity surveyor's adequacy assessment or an equivalent independent report. |
| Reviewed within five yearsMaintenance Plan | A plan older than five years is due for review, and its cost estimates may no longer reflect today's construction prices. | A Capital Works Fund Plan dated within the last five years, or minutes recording a review. |
| Condition assessment includedMaintenance Plan | Condition ratings or remaining-life estimates show the timing in the plan is based on inspection rather than assumption. | A plan or condition report with condition ratings or remaining useful life for major elements. |
| Maintenance register existsBuilding Upkeep | A maintenance register is the usual way a scheme shows how common property has been looked after over time. | The scheme's maintenance register or log. |
| Notice period documentedMeeting Procedures | Notice given short of the required period can put resolutions at risk. | The AGM notice showing the date it was issued. |
| Independent revaluation recordedInsurance | An independent replacement-cost valuation within the last five years is how schemes keep the sum insured realistic. | An insurance replacement-cost valuation report dated within the last five years. |
| Document | Type | Quality |
|---|---|---|
| AGM Minutes | Annual General Meeting minutes, 14 March 2024. | good |
| Capital Works Fund Plan | Capital Works Fund Plan 2019–2029, prepared September 2019. | good |
| Financial Statements | Financial statements for the year ended 30 June 2023. | good |
| Insurance Certificate of Currency | Certificate of currency, policy year to 30 June 2024. | good |
| AGM Notice / Agenda | Notice of Annual General Meeting 2024. Agenda included; issue date not shown on the copy provided. | partial |
Recommended additional documents: a Capital Works Fund Plan dated within the last five years, a condition report, the 2023 AGM minutes and proxy instruments, and a current insurance replacement-cost valuation. Providing these would confirm the items marked not confirmed and expand the assessment.
General Information Only — Not Legal Advice
FoxAudit is an AI-assisted review of the records provided. Findings are indicators to verify, not determinations. This report does not constitute legal advice, is not a compliance certificate, and is not a professional strata inspection or a Section 184 certificate. No lawyer or licensed strata manager reviews a FoxAudit report before it reaches you. Findings are based solely on the documents provided and may not reflect the complete compliance position of the scheme. FoxAudit cannot verify the authenticity, completeness, or currency of uploaded documents.
Legislative references reflect the Strata Schemes Management Act 2015 (NSW) as amended to 1 April 2026. Users should verify current requirements with a qualified NSW strata lawyer. StrataFox Pty Ltd accepts no liability for reliance on this report. © 2026 StrataFox.