BUDGET

Today the new budget was put in my door. No meeting was held, just the BOD decided on it. Now in past years there was always a "budget meeting" makes me wonder? Who's watching the store. How do we as Homeowners approach this? Thanks in advance

Peter,

Unless I missed something I do not see where either the condo or planned communities statutes require that the budget be approved by the members or that it be approved at a board meeting. The condo statute does require a vote of the members for the reserve amount to be budgeted; however if a quorum cannot be attained for the meeting the amount in the budget shall be approved.

720.303(6)BUDGETS.—

(a)The association shall prepare an annual budget that sets out the annual operating expenses. 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 paid for by the association 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).

718.12(2)(f)Annual budget.—

1.The proposed annual budget of estimated revenues and expenses shall be detailed and shall show the amounts budgeted by accounts and expense classifications, including, if applicable, but not limited to, those expenses listed in s. 718.504(21). A multicondominium association shall adopt a separate budget of common expenses for each condominium the association operates and shall adopt a separate budget of common expenses for the association. In addition, if the association maintains limited common elements with the cost to be shared only by those entitled to use the limited common elements as provided for in s. 718.113(1), the budget or a schedule attached thereto shall show amounts budgeted therefor. If, after turnover of control of the association to the unit owners, any of the expenses listed in s. 718.504(21) are not applicable, they need not be listed.

Mary,

I don't see anything in my posting that says the budget must be approved by the members...

Let's try to stick to assisting the OP.

peter

The Fl. Condo Law (718) does address budget meetings as follows:
(e)Budget meeting.—

1.Any meeting at which a proposed annual budget of an association will be considered by the board or unit owners shall be open to all unit owners. At least 14 days prior to such a meeting, the board shall hand deliver to each unit owner, mail to each unit owner at the address last furnished to the association by the unit owner, or electronically transmit to the location furnished by the unit owner for that purpose a notice of such meeting and a copy of the proposed annual budget. An officer or manager of the association, or other person providing notice of such meeting, shall execute an affidavit evidencing compliance with such notice requirement, and such affidavit shall be filed among the official records of the association.

So it would depend on whether a budget meeting was required in the association's governing documents. We hold an annual budget meeting and all members are notified in accordance with Chapter 718. Don't know if 720 addresses this or not.

Hope this helps.

You're welcome, Mary! Like you said, it's very possible that what was delivered was the proposed budget, but you'd think there would be a little more explanation along with it. I think Laverne just needs to contact the Board or the management company, if there is one, for more info. According to her post, they have always had a budget meeting, so what makes this year different?