and parcel owners have the right to speak for at least three minutes, and the association may adopt written reasonable rules governing the frequency, duration and other manner of their statement. At board meetings , the right to attend includes the right to speak with reference to all designated items. The HOA may adopt written reasonable rules expanding the right of members to speak and governing the frequency, duration, and other manner of member statements. The rules may include a sign-up sheet for members wishing to speak. Meeting minutes For HOAs, the meeting minutes for all board of directors and members’ meetings must be maintained for at least seven years, unless the governing documents require a longer period of time. The minutes of meetings, including board, member, and certain committee meetings, become an official record of the HOA which means that they must be made available for inspection and copying for a parcel owner within 10 business days after the board or its designee receives a written request from the parcel owner. The minutes of all HOA members’ and board meetings must be maintained in written form or in another form that can be converted into written form within a reasonable time. The minutes must include votes and any abstentions for each director present at a board meeting on each matter voted on. Abstention : To abstain means not to vote at all. Whether the member calls “I abstain” or does not vote at all on a matter, it is considered an abstention and must be recorded in the minutes. Annual financial reporting A meeting for the purpose of raising or lowering the level of annual financial reporting may occur if 20% of the parcel owners petition the board for a financial report higher than required. A members’ meeting is required in this case. The meeting shall be held within 30 days of receiving the petition. A majority TVI is required. If approved by a majority of TVI present at a properly called meeting of the HOA members, they may vote to lower the level, however, the association may not vote to lower the level of report for consecutive fiscal years.
at their next regular board meeting or at a special meeting of the board, placing the petitioned item on an agenda. In this case, the board is required to hold the meeting no later than 60 days after receipt of the petition and must give all members 14 days’ notice. This section of the HOA statute includes certain provisions of a board meeting that follows an annual meeting of members where the board may consider filing notices to preserve the covenants from extinguishment under the Marketable Record Title Act, (referred to as covenant revitalization). Proper notice to members as well as conspicuous posting apply. Board members may not vote by proxy or secret ballot, except when the board is electing officers. This also applies to committees when a final decision will be made regarding expending HOA funds or when approving/disapproving architectural decisions. Remember, as of January 1, 2025, a homeowners’ association that has 100 or more parcels must post to its website or make available through an application that can be downloaded on a mobile device, notice of any board meeting, the agenda, and any other document required for the meeting. It must be posted on the website or mobile application no later than the date required for notice. The right to speak at meetings Members have the right to attend all meetings of the board and all membership meetings. The right to attend such meetings includes the right to speak at the meetings. For membership meetings the right to speak includes all items open for discussion or included on the agenda. Members Other reasons for meetings in an HOA Annual budget There are other reasons specified by statute for an HOA to conduct meetings for the membership, board of directors, and for certain committees. These include meetings for the purpose of considering and approving the annual budget. Typically, the annual budget is voted on and approved by the board of directors, unless the governing documents say otherwise.
Based on Revenue or Size: Annual Revenues Less than $150,000 total annual revenues
Type of Year-End Financial Statement
Cash Report (Report of cash receipts and expenditures)
$150,000 or more, but less than $300,000
Compilation (Compiled financial statements)
$300,000 or more, but less than $500,000
Review (Reviewed financial statements)
$500,000 or more
Audit (Audited financial statements)
An association with at least 1,000 parcels (Regardless of revenue)
Audit (Audited financial statements)
NOTE: Condominiums and cooperatives year-end financial statements are based on annual revenue only. Timeshares are required by statute to present an audit as its year-end financial statement. Recall of directors If HOA members wish to recall one or more board members or the entire board, a petition of the membership is If the governing documents of an HOA specifically provide, the members may also recall or remove board member(s) by a vote taken at a special members’ meeting that may be called by 10% of the TVI. In this case, the board is still required to hold a board meeting to certify the recall(s).
necessary, no meeting is required. However, once a petition is received, the board must call a meeting of the board within five business days after receipt of the agreement in writing (a petition) or written ballots. The purpose of this board meeting is for the board to certify the written ballots or written agreement of recall.
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