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Wednesday, October 28, 2020

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Subject: Copy of 2021 Draft Budget
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Author Messages


10/07/2020 8:38 PM  
Is the Board (Property Management Co) required to provide in California a copy of the Draft Budget to a homeowner if formally requested?


10/07/2020 8:50 PM  
Typically, only approved/adopted items are available.
Drafts are just that, drafts.


RECORDS SUBJECT TO INSPECTION from davis-stirling site


10/07/2020 11:57 PM  
There wouldn't be any reason why a draft budget couldn't legally be produced if asked. It is something that would be discussed in open session.

When I was president of my association, we would pass out copies of the "draft" budget to the people who attended the open session meeting when it being discussed and possibly voted upon. Once approved, it is sent out with the legally required Annual Disclosures and Annual Statements 30 days prior to the close of the association's fiscal year.


10/08/2020 2:20 PM  
Herein Minnesota, our budgeting process includes sending out a budget draft to all all owners before the Annual meeting. It is our belief that this gives the interested owners a chance to ask questions at the annual meeting. The next step is for the Board is to vote and adopt the budget at our November meeting.


10/08/2020 6:44 PM  
It's not required, Christina, but a transparent and friendly board would offer the draft, clearly stamped as such, for owner review.

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Forums > Homeowner Association > HOA Discussions > Copy of 2021 Draft Budget

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