Annual Homeowners Association Budget

Started by ArthurD • 2 replies • 1445 views

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ArthurD (Virginia)
Posts: 5

Posted:

The residents of our HOA have just been notified that if we wanted a copy of the 2007 Budget, before a meeting on the budget, we would be required to pay 10 cents per page [60 cents]for a copy. Is this legal and proper?

RogerB (Colorado)
Posts: 5,067

Posted:

Arthur, it could be. Are you provided a copy at the meeting to review? Do the members vote to ratify the Board approved budget before it is officially accepted?

The procedure I would recommend, particularly for larger associations is to post association official information to web site. This can reduce printing, postage and time involved when owners have authorized internet delivery as official notification. The rest are mailed a copy of the Board approved annual budgets along with the notice of the annual meeting. This can save hundreds of dollars a year.

BTW the cost of 60 cents is cheap. Our going rate is 15 cents a copy plus 60 cents postage (for 6 pages), plus 9 cents for a double window #9 envelope plus any time beyond contractural agreement at $35/hour. Of course we don't use this independent method of providing the annual budget. The annual budgets, notice of meeting and proxy, and a quarterly newsletter (3 pages total) are provided as part of our management agreement.

JohnM3 (Florida)
Posts: 288

Posted:

Dear Arthur:m it depends on what State you live in . In Florida it is required to be in the hands of all members by November so it can be put into being prior to 1 Jan we mail it out with our monthly statements as well as posting to our web site.
Ask nice and you usually can get it.I say nice cause most people who serve onBODs by year end are sick of the constant hecklers that do nothing for the community except complain.

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