Financials

Florida law is quite strict about the timeline. Per the statutes: 14-Day Deadline: The budget must be adopted at least 14 days before the start of the fiscal year (usually […]

Under Florida Statute 718.112, the law provides a safety net to keep the lights on, while also setting up penalties for the board’s failure to act. 1. The “Prior Year”

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.