"When dealing with Strata plans it's important that all books and records are kept totally up to date.  The Owners Corporation must keep these at all times. Here's a brief guide to the sorts of books and records you need to keep."

The Strata Schemes Management Act 1996(NSW) - Part 5 Records and Accounts requires that certain books and records be maintained and must include the following:

• Strata Roll
• Minute Book
• Detailed Accounting Records
  (separate accounting records must be maintained for the administrative and sinking funds but monies can be retained in the same bank account)
• Cash Books (cash payments & cash receipts)
• Receipt Book
• Passbook, bank deposit book
• Levy Register
• Annual financial statement
  (for a period from the date of the last financial statement up to a date not earlier than 2 months before the date of the annual general meeting at which the statements are tabled)
• Register of Notices & Orders
• Notices of meetings
• All correspondence
• Proxies (including expired proxies)