Budget, levies, arrears & sinking fund for OMCs
Give your board the figures it keeps asking the managing agent for – budget, levies, arrears and the sinking fund in one clear workbook.
Are you a volunteer director who only gets PDFs from the managing agent and can't see what's been billed, what's been paid and who is behind? The OMC has to put an estimate of the year's costs, broken down into the categories set by the Multi-Unit Developments Act 2011, to a general meeting before the service charge is levied – and the board remains responsible for the figures.
This workbook links the budget, each unit's share, the levies, the payments and the sinking fund. Enter last year's figures and your units once: the file calculates every levy and instalment, ages the arrears and projects the sinking fund 20 years ahead, including the lowest yearly contribution that keeps it above the minimum balance you set.
Key figures, quick links and a step-by-step guide.
OMC name, financial year, instalments, inflation, sinking fund contribution, split and target balance.
Every unit with floor area and the share from the lease.
Last year's budget vs actual, variance and the proposed budget by cost line, under the 9 headings of s.18(3).
Service charge and sinking fund per unit (by share or equal per unit), per year, per instalment and per month.
Payments per instalment, balance owed and arrears aged 0–30 to 90+ days.
Common-area components with last done, life, condition and cost.
20-year projection, main works per year and the recommended contribution above a target balance.
Charts and key figures for board meetings and the AGM.
Add up the year's budgeted costs (insurance, management, cleaning, lifts, fire safety and so on) plus the sinking fund contribution, then multiply the total by each unit's share from the lease. The LEVIES sheet does this for every unit and splits it into instalments.
It depends on the building. The Multi-Unit Developments Act 2011 sets €200 per unit per year as a default, or another amount agreed by a meeting of the members – not a minimum, and often far from enough. The workbook works out the lowest yearly contribution that keeps your fund above a target balance.
A reserve the owners' management company builds up for large, infrequent works on the common areas – roofs, lifts, fire alarms, render or car park resurfacing – so owners are not hit with a big special levy when the work falls due.
Yes. The BUDGET sheet puts last year's budget next to the actual figure for each cost line, grouped under the 9 headings the Act requires for the estimate, calculates the variance and flags overruns, and the dashboard shows it by heading – useful when you review the accounts before the AGM.
No. It gives the board its own clear view of the budget, levies, arrears and sinking fund, so you can check the agent's reports and ask the right questions.
Yes. Enter each unit's share from the lease, or leave it blank and the workbook uses floor area. The sinking fund can follow the same shares or be split equally per unit.
Guide for this template
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Budget, levies, arrears & sinking fund for OMCs · €99
A service charge budget shows owners what the owners' management company expects to spend on insurance, cleaning, maintenance and the sinking fund, and what each unit pays. With an Excel template the board can prepare and follow the budget without extra software.
This template combines the budget, levies, payments, arrears and a 20-year sinking fund projection, so directors can present clear figures at the AGM and follow up on unpaid service charges early.