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Budget Approval and Ratification
Financial requirement under Florida law — Fla. Stat. § 720.303(6)
Statutory Citation
Fla. Stat. § 720.303(6)
Effective 2023-01-01 · Florida
Category
Financial
Governs financial planning, reporting, reserve funding, and budget processes.
Required Notice Period
14 days
Minimum advance notice required by statute
What this statute requires
A proposed annual budget must be delivered to all members at least 14 days before the meeting at which it will be considered.
Specific requirement: Deliver proposed annual budget to members at least 14 days before budget ratification meeting
Penalty for Non-Compliance
Prior year budget remains in effect until properly ratified budget is adopted
How to Verify Compliance
- Review your CC&Rs and bylaws for a provision explicitly addressing this requirement.
- Confirm the governing documents specify a notice period of at least 14 days (not fewer).
- Upload your governing documents on the documents page to get an automated gap analysis against all Florida requirements.