Budget Workshops

As a new member of an HOA Board, I have some questions about budget workshops and whether or not these are considered legal meetings. I also wondered how many of you hold workshops every year, and whether you vote on the budget as part of those meetings. I'm concerned that a budget workshop does not rise to the level of a meeting and as it was held without notifying the membership that we may have some problems, particularly because of a large increase in the regular assessment for 2008.

Thanks in advance.

Wendy,
Our association has budget workshops scheduled usually 3 months before the budget goes to the BOD for their vote. Our P.M. works with the vendors to ensure that all contracts are ready for this time.
All meetings , committee or otherwise are required to be open to all residents per our Florida statutes.This encourages a healthy relationship between the Boards and members of an association.
We post the meeting schedule 48 hours prior to the workshop and we do 2 of them, 2 weeks apart so it truely is a workshop. It is NOT a formal meeting of the Board. The financial or budget committee as we call ours, has worked with the Property manager and the Treasurer to have all expenses current and proposed on a worksheet. The Treasurer heads the meeting.
He goes line by line down the entire budget wroksheet, listing all incomes and then item by item on proposed expenses, including Reserves and whatever unknown item that might occur.
Residents who attend are entitled to ask questions and make statements on each item as they are addressed. We have had some heated arguements and have had some wonderful input. Sometimes a member has information that will help and none of the budget people had even thought of their idea. That is why it is called a "Workshop"
When it finally gets as good as we can attain, it goes to the BOD for a vote at the called "Budget Meeting"