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Posted By PetunkaM on 12/15/2018 10:07 AM
Our By-laws require the BOD to approve the budget in any open meetings. However, this has not been done in FY17 or FY18. Could there be consequences? I was told that if the budget is not approved and distributed to the membership for FY19 the Assn. cannot spend any funds in FY19. True? Thank you.
Check Chapter 720 of the Florida Statutes. It requires the budget to be approved at an open meeting, too. Whatever your bylaws say on the matter is irrelevant.
FS 720: "The association shall provide each member with a copy of the annual budget or a written notice that a copy of the budget is vailable upon request at no charge to the member."
Consequences for not following that? The board could be found negligent or worse for failing to follow the various parts of the statute. But that's only after owners bring some sort of court action against the board. The state of Florida, itself, doesn't care to enforce anything in an HOA outside of election disputes. You can call your state representatives, county officials, the Governor, Consumer Affairs (whatever it's called in FL), the state Atty General, the state Atty General's "help line", .... you name it. It's extremely unlikely that you will find anyone willing to halp you.