Florida
Florida condo budget adoption requirements
When a Florida condominium association must adopt next year's budget, how reserves fit in, and what the owners' petition window does.
Duty record
What this duty is
The budget for the coming year is adopted before that year begins, at a meeting owners were given notice of, with a copy of the proposed budget sent with the notice.
The reserve schedule is part of it rather than an appendix to it, and for condominiums the structural components carry their own funding requirement that a general reserve line does not satisfy.
Where the new assessments exceed the prior year by more than the statutory percentage, owners can petition for a substitute budget. A board that adopts a large increase without expecting that conversation usually ends up having it anyway.
Authority
Who is responsible, and when it is due
The rules pack puts this on the Treasurer.
Due 14 days before the fiscal year end.
Worked example: for Maple Court, fiscal year ending 31 December 2026, this falls on .
The duty in this article is Florida Statutes, s.718.112(2)(e)
Evidence
What has to exist afterwards
A duty is met when there is something to show for it. The rules pack requires a recorded board decision, and a document on file.
Consequence
What happens if you miss it
Assessments for the new year continue on the prior budget and reserves are not properly scheduled.
The pack records no monetary penalty for this one, which does not make it cheap: the cost usually arrives later, through a purchaser, a lender or a tribunal.
Product record
How Board Butler handles it
Board Butler instantiates this obligation for your corporation from the same pack entry this article was built from, dates it from your own fiscal year end and your own records, puts it on the compliance calendar with the role responsible, and attaches the evidence as you produce it rather than asking you to file it afterwards.
Computed from rules pack US-FL version 2026.3.
This page explains the rules in plain language and is not legal advice.
Get the whole year, not one duty
The statutory calendar tool computes your year from your fiscal year end, with the role responsible and the consequence beside each date.