HOA BUDGET

Started by NormaB3 • 7 replies • 343 views

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NormaB3 (Florida)
Posts: 45

Posted:

Our HOA is preparing our 2022 Budget.

My question is this. Are we obligated by state law (FLORIDA STATUTES) to breakdown the cost of expenses per household?
We have never done this in 30 years and are being instructed to do this by a board member. Board member claims it is law and must be included in the budget.

We are a Homeowners Association with 158 manufactured homes. We own our lots. We are located in Osceola County Florida

Thank you for your help

Norma

MaxB4
Posts: 3,513

Posted:

Quote:

Posted By NormaB3 on 10/27/2021 9:23 AM
Our HOA is preparing our 2022 Budget.

My question is this. Are we obligated by state law (FLORIDA STATUTES) to breakdown the cost of expenses per household?
We have never done this in 30 years and are being instructed to do this by a board member. Board member claims it is law and must be included in the budget.

We are a Homeowners Association with 158 manufactured homes. We own our lots. We are located in Osceola County Florida

Thank you for your help

Norma

IF it is law, have them show you the citation.

BarbaraT1 (Texas)
Posts: 821

Posted:

Quote:

What is meant by "cost of expenses per household"? The assessment IS the cost of the association's expenses divided by the number of lots. So it would seem you are already doing that. If people want to know how much of their assessment goes toward each line item, they can do the math.

SheliaH (Indiana)
Posts: 6,964

Posted:

Whenever people say "it's the law," always ask them for an exact quote - if they can't or won't provide actual proof, they should STFD and STFU.

That said, Barbara has a good point - anyone can divide the cost by the number of units and come up with the cost per homeowner. However, math is hard for some people, so it's probably a good idea to do it for them (Excel spreadsheets are really good at that). In fact, this would be a great way to show people exactly where their assessments's are going. You can even create a pie chart showing X percentage goes to office expenses, Y percentage goes to landscaping and so on. Every year, you can show where certain line items have gone up or down and explain why.

If it is not right do not do it; if it is not true do not say it. Marcus Aurelius

MaxB4
Posts: 3,513

Posted:

Quote:

Posted By SheliaH on 10/27/2021 2:05 PM
Whenever people say "it's the law," always ask them for an exact quote - if they can't or won't provide actual proof, they should STFD and STFU.

That said, Barbara has a good point - anyone can divide the cost by the number of units and come up with the cost per homeowner. However, math is hard for some people, so it's probably a good idea to do it for them (Excel spreadsheets are really good at that). In fact, this would be a great way to show people exactly where their assessments's are going. You can even create a pie chart showing X percentage goes to office expenses, Y percentage goes to landscaping and so on. Every year, you can show where certain line items have gone up or down and explain why.

Doesn't always work that way, for instance if you have assessments based on square footage, there could be multiple levels of assessments. I have one association where there are seven different levels.

If they can't provide an exact, we tell people to STFU? Another regular poster thinks if you make a negative comment about your HOA, you're a WHINER?

SheliaH (Indiana)
Posts: 6,964

Posted:

Apparently, you don't understand sarcasm. Then again, you do and you come back with these comments just to be argumentative or because you think it's funny. Go ahead and do you if that's what lifts your skirt.

Personally, I'm not in the habit of accepting everything just because someone says it. You say "it's the law," you should also expect someone to follow up the way the OP did (I haven't heard of that rule - can you tell me where you saw that?) It's ok to double check and find that (1) there is such a rule somewhere (2) acknowledge you saw something similar and misread it or (3) admit you heard someone else say it and assumed it was true. Better to trust but verify instead of pulling something out of your behind and later finding the truth was a long long way from what you assumed.

As for the original question - I don't see a reason why you can't break out the cost per owner for that various levels of assessments if that's what you have.

If it is not right do not do it; if it is not true do not say it. Marcus Aurelius

MaxB4
Posts: 3,513

Posted:

Quote:

Posted By SheliaH on 10/28/2021 6:22 AM
Apparently, you don't understand sarcasm.

Actually I do, when I believe that was the intent.

NormaB3 (Florida)
Posts: 45

Posted:

Thank you all for responding. All great replies. Really helped!

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