What key event is marked by the Annual General Meeting (AGM)?

The Annual General Meeting (AGM) serves as a key milestone event in the community and governance of a condominium corporation. It is a significant forum where decisions are made that directly impact the financial and operational aspects of the property. During this meeting, critical topics are discussed, including the approval of the annual budget, the election of the board of directors, and various reports on the state of the property and its management.

While introducing new residents or reviewing property maintenance may occur in the context of condominium meetings, they are not the primary focus or essential purpose of the AGM. The AGM's overarching function is to facilitate transparency and accountability in the decision-making processes of the condominium management, making it a pivotal event for all stakeholders involved.