Budgets & Assessments

In a normal annual budget, the board often has some flexibility to move money between operating line items (like using leftover “Landscaping” money to cover extra “Security” costs). However, Special […]

It’s common for a budget to have many line items, but Florida law treats Special Assessments as a completely different bucket of money than your Annual Operating Budget. The core

Under Florida law, the short answer is no, special assessment funds cannot be used for things other than the specific purpose stated in the original notice. 🛑 This is strictly

While the statute gives boards broad power, your association’s Bylaws or Declaration may limit that power. For example: Spending Caps: Many older Florida documents state the board can only assess

In Florida, the board’s authority to levy special assessments is governed by Chapter 718 of the Florida Statutes (The Condominium Act). While the board generally has the power to assess

The statute says assessments must be paid at least quarterly.

Only through the substitute budget process or by electing new board members.

At least 10% of all voting interests within 21 days of the board’s budget adoption.

A budget proposed by owners that excludes discretionary spending.

Reserves, insurance premiums, and non-recurring maintenance/repair of structural items.