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Forums > Homeowner Association > HOA Discussions

Subject: Budgets

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JudyP1
(Florida)

Posts:11

10/13/2006 5:52 PM
Hello; I have been told that the Homeowners in an Association in Florida, are suppose to receive a copy of the proposed budget at least thirty days prior to their Budget Meeting. Is this true? Where might I fine this information? Thanks, JudyP1

JosephW
(Michigan)

Posts:787

10/14/2006 10:53 PM
That's not FL HOA law, although it may be in your documents. The law states about budgets: 6) BUDGETS.--The association shall prepare an annual budget. The budget must reflect the estimated revenues and expenses for that year and the estimated surplus or deficit as of the end of the current year. The budget must set out separately all fees or charges for recreational amenities, whether owned by the association, the developer, or another person. The association shall provide each member with a copy of the annual budget or a written notice that a copy of the budget is available upon request at no charge to the member. The copy must be provided to the member within the time limits set forth in subsection (5). [Note: the time limits in subsection 5 deal with an owner requesting a copy of the budget] Here is the link to the state HOA law: http://www.flsenate.gov/statutes/index.cfmApp_mode=Display_Statute&URL=Ch0720/ch0720.htm Joe

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JudyP1
(Florida)

Posts:11

10/15/2006 10:48 AM
Thank you very much for your input. I will double check my doc. I do want to preview our proposed budget before the meeting. JudyP1

JohnM3
(Florida)

Posts:208

10/19/2006 5:51 PM
Hi Iam the Treas of a hoa in florida. I do the budget in late august present it to the Board in Sept, myself,my copy of the TOPS software reports are given to the BOD in Sept. Myself and the Property Manager have a private meeting argue it thru then deliver any changes via e-mail to all BOD Members asap after the MC/My meeting and still have 3 weeks to puruse it. Prior to the Oct meeting of the BOD. We then vote and approve at the oct meeting and mail it out prior to 15 Nov. Then we also post it on the website as a "Heads Up" to the community only if a increase may be necessary. That is done in August. We physically mail to each member in time for the Dec meeting of the BOD. We have elections in Feb. 18 years doin it this a way no problems.

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Forums > Homeowner Association > HOA Discussions > Budgets

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