Annual financial report
Within 90 days after the end of the fiscal year (or annually on the date in the bylaws), the association must prepare or contract for a financial report for the preceding fiscal year. Within 21 days after the report is completed or received, but no later than 120 days after fiscal year end, the association must provide each member a copy of the report or written notice that a copy is available at no charge. The required report type depends on total annual revenues: under $150,000 a report of cash receipts and expenditures; $150,000 to under $300,000 compiled statements; $300,000 to under $500,000 reviewed statements; $500,000 or more audited statements. An association with at least 1,000 parcels must prepare audited statements regardless of revenue.
What to keep on file
- Completed financial report for the fiscal year
- Proof of delivery/availability notice to members
- Engagement letter with the CPA, if compiled/reviewed/audited
The exact date depends on your association's facts, such as your building age, unit count, and board dates. Run the free assessment to see when this is due for your board, with the proof to keep.
When to bring in a professional
Ask your CPA experienced with community associations: Given our total annual revenues and parcel count, which report type do we owe this year and by what dates must it be completed and delivered?
General information, not legal advice. Confirm with association counsel.
Common questions
Who does the annual financial report requirement apply to?
Within 90 days after fiscal year end; report type by revenue. Within 90 days after the end of the fiscal year (or annually on the date in the bylaws), the association must prepare or contract for a financial report for the preceding fiscal year.
When is the annual financial report due?
The exact date depends on your association's facts, such as your building's age, unit count, and key board dates. Run the free assessment to see the exact date for your board, with the proof to keep.
What should our board keep on file for the annual financial report?
Keep Completed financial report for the fiscal year, Proof of delivery/availability notice to members, and Engagement letter with the CPA, if compiled/reviewed/audited. HOACompliant stores each in one binder, ready for a records request or a fine hearing.
Which Florida statute governs the annual financial report?
Fla. Stat. 720.303(7), (7)(a). We last verified this against the primary statute on 2026-08-03.
Should our board involve a professional?
Ask your CPA experienced with community associations: Given our total annual revenues and parcel count, which report type do we owe this year and by what dates must it be completed and delivered?
Does HOACompliant file this or confirm our board is compliant?
No. HOACompliant is record-keeping: it tracks what is due, when, and the proof to keep, each obligation cited to the governing Florida statute. It never files anything on a board's behalf, never states that a board is or is not compliant, and is not legal advice.
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