A Strata Budget Template for BC Councils

Most councils don't need a prettier spreadsheet. They need a budget that contains everything the Strata Property Regulation says it must contain, in a form owners can actually read before they vote. The good news: BC law already gives you the skeleton of a strata budget template — you just have to follow it.

The nine line items every BC strata budget must show

Section 6.6 of the Strata Property Regulation sets out the information the budget must contain for the fiscal year it covers. Build your template around these headings:

• Opening balance in the operating fund and in the contingency reserve fund (CRF)
• Estimated income from all sources other than strata fees, itemized by source (laundry, parking, move-in fees, interest)
• Estimated expenditures out of the operating fund, itemized by category
• Total contributions to the operating fund
• Total contributions to the contingency reserve fund
• Each strata lot's monthly contribution to the operating fund
• Each strata lot's monthly contribution to the CRF
• Estimated closing balance in the operating fund
• Estimated closing balance in the CRF

If any operating contributions are calculated under the special formulas in the Regulation — for example where an expense relates to and benefits only limited common property, or only one type of strata lot identified as a type in your bylaws — those contributions must be identified separately in the budget (Regulation ss. 6.4 and 11.2 for sections). Note the catch in s. 6.4(3): even when an operating expense is shared narrowly, each lot's share of the CRF contribution or a special levy is still calculated across all strata lots by unit entitlement.

What goes in the operating fund versus the CRF

Section 92 of the Strata Property Act draws the line. The operating fund covers common expenses that usually occur once a year or more often, plus the cost of obtaining a depreciation report and an electrical planning report. The contingency reserve fund covers common expenses that usually occur less often than once a year, or that don't usually occur at all.

So: landscaping, insurance premiums, utilities, elevator servicing, fire and life-safety testing at the intervals the BC Fire Code sets for each system — operating. Roof replacement, repiping, exterior painting — CRF or special levy. Our complete guide to the contingency reserve fund walks through the spending thresholds in detail.

How much must go into the CRF?

Since November 1, 2023, every strata corporation and section must budget a minimum annual CRF contribution of at least 10% of the total budgeted contribution to the operating fund, determined after considering the most recent depreciation report (Budgeting and strata fees, Province of BC). The same 10% floor applies to the first annual budget after the first AGM under Regulation s. 3.4.

The old rule that no contribution was needed once the CRF hit 25% of the operating budget is gone. Don't let an old template carry it forward.

Budget line items councils forget

• Depreciation report — required for strata corporations of 5+ lots, due July 1, 2026 in Metro Vancouver, the Fraser Valley and the Capital Regional District, July 1, 2027 elsewhere, and renewed every five years (s. 94; Province of BC).
• Electrical planning report — required for 5+ lot stratas by December 31, 2026 in those same regions and December 31, 2028 elsewhere (s. 94.1; Province of BC). Stratas under five lots instead need an EV-charging approval process by December 31, 2026.
• A realistic insurance line, since premiums move year to year.
• A contingency within the operating fund for small unbudgeted items.

Questions councils ask

Can we spend operating money on something that isn't in the budget?
Only as s. 97 allows: the expenditure must be consistent with the purposes of the operating fund and either authorized in the budget, approved by a 3/4 vote at a general meeting, or permitted under s. 98 or s. 104(3). Under s. 98, unapproved operating spending is capped at the amount set in your bylaws, or — if the bylaws are silent — the lesser of $2,000 and 5% of the total operating contribution for the year. Separately, either fund can be tapped where there are reasonable grounds to believe an immediate expenditure is necessary to ensure safety or prevent significant loss or damage; that spending must not exceed the minimum needed, and owners must be told as soon as feasible. Check your own registered bylaws — many set a different figure.

What happens to a surplus?
Under s. 105, operating contributions not needed for the year must be transferred to the CRF, carried forward as a surplus, or used to reduce next year's operating contribution — unless owners decide otherwise by a 3/4 vote. A deficit must be eliminated during the next fiscal year.

What if owners vote the budget down?
The budget is approved by majority vote. If it fails, s. 104 requires a new budget at a special general meeting within 30 days (or a longer period approved by a 3/4 vote at that meeting), and owners keep paying the same monthly fees under the previous budget until the new one passes. Interim spending is limited to the recurring categories and maximums in the old budget.

Getting it in front of owners

The budget goes out with the AGM notice package, and general-meeting notice must be at least two weeks. Notice sent by email, mail or fax is conclusively deemed received four days after it is sent — so an emailed package should leave roughly 18 days before the meeting. See the Province's guidance on conducting a general meeting. Since November 24, 2022, all BC strata corporations may hold electronic or hybrid meetings and accept electronic votes without passing a bylaw.

For the drafting process itself, see how to prepare a strata annual budget in BC, and for how the numbers land on each owner, how strata fees work in BC. If you're reconciling a draft against years of minutes and engineering reports, tools like SearchStrata can run AI analysis across your strata document set to surface what was promised and when.

One last piece: keep the approved budget, the financial statements and the supporting books with the corporation's records. ManageStrata is built on that premise — the management company can change, but the strata's knowledge shouldn't; the documents, minutes, votes and books belong to the corporation and stay when the manager or council turns over.

This article is general information about BC strata law, not legal advice; verify against the current Strata Property Act and Regulation or consult a BC strata lawyer.