Reserve accounts and disclosure
The annual budget may include reserve accounts for capital expenditures and deferred maintenance. Where reserves are established, funding, use, and any waiver or reduction of reserves are governed by member-vote and disclosure rules in the statute. The exact reserve funding and disclosure obligations depend on the association's governing documents and prior member votes.
What to keep on file
- Reserve schedule within the adopted budget
- Member vote on reserve funding or waiver
- Reserve account statements
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 and association attorney: Do our governing documents require reserves, and what disclosure or member vote applies to funding or waiving them this budget cycle?
General information, not legal advice. Confirm with association counsel.
Common questions
Who does the reserve accounts and disclosure requirement apply to?
When reserves are established, funding and disclosure rules apply. The annual budget may include reserve accounts for capital expenditures and deferred maintenance.
When is the reserve accounts and disclosure 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 reserve accounts and disclosure?
Keep Reserve schedule within the adopted budget, Member vote on reserve funding or waiver, and Reserve account statements. HOACompliant stores each in one binder, ready for a records request or a fine hearing.
Which Florida statute governs the reserve accounts and disclosure?
Fla. Stat. 720.303(6). This one is awaiting final verification against the primary statute, so we show it without an unqualified deadline until we confirm it.
Should our board involve a professional?
Ask your CPA and association attorney: Do our governing documents require reserves, and what disclosure or member vote applies to funding or waiving them this budget cycle?
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.
Answer a few factual questions and get your full cited calendar in about 5 minutes. No login to start.
Start the free assessment →