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Florida Condo & HOA Legal Blog News & Updates on Condo & HOA Laws & Legislation in the State of Florida

Tag Archives: budget

Florida Condo Board May Have Authority to Approve Changes to Common Areas

Posted in Association Documents, Common Areas, Material Alteration, Voting

Question: Recently, my condominium association installed a bike rack and bench on the property. Following the installation, I questioned the board whether these changes should have been approved by 75% of all unit owners. In response, the board stated that our documents allow the board to spend up to 5% of the association’s budget on… Continue Reading

Two More Weeks Left in the 2017 Legislative Session; What Bills are Most Likely to Pass?—CALL Alert for April 24, 2017

Posted in advocacy, Budgets, Reserves & Financial, Fiduciary Duty of Board of Directors, Legislation, Official Records, Operations, Video, Voting, Water Sprinklers

There are two weeks left in the 2017 Legislative Session—assuming it ends on time. Of the many different community association bills that were filed at the beginning of session, the following four (4) sets of bills are the ones that appear to be most likely to pass. Condominium Bills by Sen. Garcia and Rep. Diaz… Continue Reading

What are Pooled Reserves and How do we Implement Them?

Posted in Association Documents, Budgets, Reserves & Financial, Meetings, Uncategorized

Question: I am a new director on my condominium association board. At a recent board meeting, there was a discussion about switching to “pooled” reserves. What are pooled reserves and what does the association have to do to implement pooled reserves? R.G. Answer: Cash flow funding of condominium reserves, often referred to as the “pooling”… Continue Reading

Are Social Event Expenses a Proper Expense for Florida Condominium Associations?

Posted in Association Documents, Budgets, Reserves & Financial, Governing Documents, Reader Q&A

Question: My condominium association holds an annual holiday party at a nearby restaurant. The association pays for everything, including the banquet hall, food and refreshments, by using common funds. Is this a proper common expense? J.A. Answer: Maybe. Your condominium association’s governing documents likely include a definition of “common expenses.” If this definition specifically includes… Continue Reading

Becker & Poliakoff Announces New Condominium & HOA Classes

Posted in Budgets, Reserves & Financial, Construction Issues & Contractual Disputes, Hurricane/Disaster Issues, Service Animals/Emotional Support Animals

We are committed to sharing our legal knowledge to help others. We do so by offering State-approved educational resources in various forms, including more than two dozen courses, conferences, panel discussions, personal meetings, and webinars that you can conveniently attend from your office or home. With this many available options, it is easy for your… Continue Reading

Do Budget Workshops Fall Under Sunshine Law?

Posted in Budgets, Reserves & Financial, Meetings, Operations, Reader Q&A

Question: I live in a homeowners’ association. The board of directors has historically held a budget workshop with only the chief financial officer of the management company and two of the five directors present. The association is governed by a five member board, so that board argues that because a quorum is not present, they… Continue Reading

HOA Interfund Reserve Transfers Usually Board Prerogative

Posted in Budgets, Reserves & Financial, Reader Q&A

Question: Can the board of a homeowners’ association move monies from one reserve account to another, or for operating purposes, without membership approval? D.D. (via e-mail) Answer: Section 720.303(6)(h) of the Florida Homeowners’ Association Act states that “statutory” reserve funds (this is the industry accepted legal “slang” term and not a term used in the… Continue Reading

Condo Statute Does Not Place Cap on Budget Increases

Posted in Budgets, Reserves & Financial, Operations, Reader Q&A

Question: We own a unit in a condominium association and this year our assessments increased significantly. I was told that the Condominium Act did not allow boards to increase assessments more than ten percent per year without an owner vote. Is this correct?  J.C. (via e-mail) Answer: No. Section 718.112(2)(e)2.a., Florida Statutes, provides that if… Continue Reading

Shenanigans are Unlikely with this Board

Posted in Budgets, Reserves & Financial, Official Records, Reader Q&A

Question: Our condominium association sends the owners monthly budget reports, including year-to-date expenditures and comparisons with previous years’ expenditures.  Some of our owners are leery about what we see.  Can we demand an independent audit?  If so, what is the procedure?  D.B. (via e-mail) Answer:  First, I would say that a condominium association routinely providing… Continue Reading