AlmiraK (Florida)
Posts: 1
Posts: 1
Posted:
Can a Board amend a budget without resident input, after the annual budget has been adopted?
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HOA BUDGET
Started by AlmiraK • 2 replies • 1711 views
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GeraldT1 (<Not Specified>)
Posts: 519
Posts: 519
Posted:
AlmiraK
Amending without the approval of owners may depend on the amount. For example, your by-laws may state that the board can not approve any capital, or other expense, over a certain dollar amount. Perhaps it is stated as a percentage of the annual budget.
If nothing is stated in your by-laws about thresholds, than that hurdle is overcome. However, the owners should be told what needs to be amended, what the effect will have on monthly maintenance, etc.
GeraldT1
NNJ
Amending without the approval of owners may depend on the amount. For example, your by-laws may state that the board can not approve any capital, or other expense, over a certain dollar amount. Perhaps it is stated as a percentage of the annual budget.
If nothing is stated in your by-laws about thresholds, than that hurdle is overcome. However, the owners should be told what needs to be amended, what the effect will have on monthly maintenance, etc.
GeraldT1
NNJ
RogerB (Colorado)
Posts: 5,067
Posts: 5,067
Posted:
Posted By AlmiraK on 09/04/2006 2:08 PM
Can a Board amend a budget without resident input, after the annual budget has been adopted?
Can a Board amend a budget without resident input, after the annual budget has been adopted?
Yes
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