Sinking Fund Health-Check Scorecard
Assess your body corporate's readiness for future major repairs and replacements
Step 1: Select Your State/Territory
Different states have different names for the future maintenance fund and different planning requirements.
In QLD: The fund is called the Sinking Fund, and the planning document is the Sinking Fund Forecast (10+ years) (legally required).
Step 2: Enter Your Building Details
Essential: Maintenance needs scale exponentially after 10-15 years
The amount currently in the bank for future major works
How much all owners contribute annually to this fund
Used to calculate the reserve per unit
⚠️ In QLD, this plan is legally required.
How This Tool Works:
This tool transforms complex financial reports into a simple, three-color rating system, giving you the confidence to ask your body corporate manager or committee the right questions.
Why the Capital Works Plan is critical:
- In NSW & QLD, it's a legal requirement
- It provides an independent forecast of future costs and required savings
- Without it, you're gambling with future finances
- It sets the required contribution amounts
This assessment is for informational purposes only and should not be considered financial, legal, or property advice. Reserve targets are general guidelines and actual requirements vary significantly based on building type, age, amenities, and condition. Always consult qualified professionals including quantity surveyors, financial advisors, and legal experts for advice specific to your circumstances.
Want More Detail?
This scorecard gives you a quick health assessment. For comprehensive guidance on understanding body corporate fees, sinking funds, and capital works planning:
Read the Full Guide →Explore our other free body corporate assessment tools:
View All Checklists →What Is a Sinking Fund and Why Does It Matter?
In Australian body corporate legislation, the sinking fund - called a capital works fund in NSW and a maintenance fund in Victoria - is the reserve account that owners collectively build up to pay for major repairs and replacements. Unlike the administrative fund which covers day-to-day running costs, the sinking fund handles the big-ticket items: roof replacement, lift refurbishment, external painting, pool resurfacing, and common area upgrades.
An underfunded sinking fund is one of the biggest financial risks for apartment owners. When a major repair is needed and there isn't enough money in the fund, the body corporate must either take out a loan or issue a special levy - an unexpected bill that can range from a few hundred to tens of thousands of dollars per lot owner.
The tool is tailored for all Australian states and territories - NSW, QLD, VIC, SA, WA, TAS, NT, and ACT - because fund names, contribution rules, and mandatory planning requirements differ between jurisdictions. To use it, have your body corporate's most recent financial statements on hand; all lot owners are entitled to these under their state's strata legislation.
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