Florida Budget meeting question re. 720

Started by RW1 • 8 replies • 2248 views

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RW1 (Texas)
Posts: 149

Posted:

Need some opinions on the requirements of budget meeting notice.

Our annual dues are called assessments.

Fl. 720 says (not quoting) that meetings regarding "special assessments" require 14 day notice and mention of the assessment being proposed in the meeting notice.

Is this implying that the annual budget (assessment) meeting also requires a 14 day notice?

Does it matter if the intent of the meeting is to propose the budget or to actually vote for acceptance?

Trying to keep the topic (question) narrow in scope.

TIA... rw one

DonnaS (Tennessee)
Posts: 5,671

Posted:

RW,
To make this answer easy to understand-- "special assessments" are just that-- special, above and beyond a budgeted amount. Can be for anything as long as the membership is enlightened to it's reason. It must be posted and requires a 14 day prior notice to the membership.

Annual dues are just that---dues(call them assessments if you want to)
The budget will have that assessment number as part of it's income. Budget proposal is not required to have a 14 day notification but a 48 hour notice as do all regular meetings, UNLESS the budget is part of your annual meeting where it gets voted on by the BOD. Then it requires a 14 day prior notice. Make any sense?

RW1 (Texas)
Posts: 149

Posted:

Donna I know you tried but I have follow up comment and/or question...

Our docs use the specific term "assessment" for what you describe as dues and I agree... technically. Teh term "special" seems adequate enough for me to differentiate the two types.

So let me test my understanding...if the BOD meeting is to create the budget (such as a "workshop" type meeting) then 48 hrs is req., BUT... if we plan to vote to accept, ratify, enact, etc. the budget, than it must have 14 day notice regardless if it is part of the annual meeting or not?

RW-one

DonnaS (Tennessee)
Posts: 5,671

Posted:

RW,
I guess that I should NOT have said the word "unless" No if the Budget is to be passed at a regular BOD meeting, it only requires 48 hour prior but the posting is to include that the budget is on the agenda, as all items to be addressed are to be listed. So 48 hours for all BOD meeting
and 14 day notice for Annual and special assessment meetings (simplified version)and unless your governing docs state otherwise.

RogerB (Colorado)
Posts: 5,067

Posted:

Donna, there is a difference between dues and assessments. Many HOA members mistakenly use the term dues which are technically assessments.

The difference is, dues are paid by those MEMBERS who voluntarily chose to join (a VOLUNTARY HOA). Assessment are charged to the PROPERTY and must be paid by the property owner (a MANDITORY HOA).

RW1 (Texas)
Posts: 149

Posted:

Thanks Donna,

BUT... you touched on another issue I'm not sure of. You mentioned that the agenda must include that the budget is being decided. Our prop. mgr. is telling us we don't need the agenda on the notice. Members don't know what's on the agenda until they arrive at meeting center. I don't like this but mgr. says that's all that is required.

(It was my understanding that only the annual meeting need not have agenda as part of posting.)

Also, Should'nt the proposed budget be distributed to members before it is ratified?
If true what is time frame for notice prior to ratification.

BradD2 (Florida)
Posts: 418

Posted:

Agendas are not required by FS 720. It is a courtesy to get people involved but is not manditory.

There are two types of assessments. One is the annual assessment (can be semi-annual, quarterly or monthly as well) and the other is a special assessment. A special assessment is a one time charge for something (our association can only do it for capital improvements yours may allow for budget overruns or something else). The special, one time assessment needs 14 days notice for a meeting specifically for this purpose and it must be clearly stated. Clear now?

BradD2 (Florida)
Posts: 418

Posted:

One more thing. It would be nice to passout the budget but again it is not required. The board is elected to take care of the running of the Association. If you want to get involved, then do it. In our Association we have to let the members know what the budget is but we don't have to ask for their input. We do in the event that we forgot something and so we can head off problems before they start.

RW1 (Texas)
Posts: 149

Posted:

Thanks,

I am satisfied we are compliant now.

RW1

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