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Annual Financial Statements
Financial requirement under Florida law — Fla. Stat. § 720.303(5)
Statutory Citation
Fla. Stat. § 720.303(5)
Effective 2023-01-01 · Florida
Category
Financial
Governs financial planning, reporting, reserve funding, and budget processes.
What this statute requires
Annual financial statements must be prepared and provided to all members within 90 days of the fiscal year end.
Specific requirement: Provide annual financial statements to members within 90 days of fiscal year end
Penalty for Non-Compliance
Association directors may face personal liability for willful failure
How to Verify Compliance
- Review your CC&Rs and bylaws for a provision explicitly addressing this requirement.
- Upload your governing documents on the documents page to get an automated gap analysis against all Florida requirements.