approval of annual budget

Our Rules state that at the annual meeting the budget for the new year is to be reviewed. The By-laws state that the budget for the new year should be ratified.

Given the ambiguity of both "rules" is it legal to assume that a budget for the new year is ratified after review if no serious questions are raised. Must there be a vote?

Thanks.

Joe

I need help in understanding the budget approval. The Board held a Budget review meeting Jan.31 (we have not had our annual meeting, though the anniversary date is Jan16) There were things on the budget I have questions about but at this meeting were not allowed to question. When the President hired a new MC, we were told that the cost was the same as the last one (NO INCREASE- I had turned in a bid for $2,200. less but she had found a problem with the BBB(this MC told me they were unaware of any problem and it was corrected as soon as I made it known to them) I lost the vote. Now on the budget, MC the fees come to $8,699. They are adding legal and admin fees, fees/taxes/license and accounting. The old MC had these things (preforming the job, not paying) included in their contract(77 units X $7.). We have never paid taxes as we don't have anything except a small lake w/a pier (our common area assessed value $370). The MC/Board have lowballed our utilities based on last years bills. We had a beautiful fountain when I purchased (actually 2 fountains, developer decided not to repair one that broke). Our one fountain has been broken since Apr. of last year so our utility bill dropped quite a bit more than $100. And there has been an increase in the utilities this year, even our street light charge has increased $3.00 and month. They also dropped our reserve down from $10,829. (which I think is not enough-they refuse to do a reserve analysis. So what I'd like to know is do the members get any input on this budget at all? The President has finally set our annunal meeting for some time in March (no date).