Financial Reporting

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Modified: June 30, 2025

Article

Condominium & Cooperative Associations

CS/CS/HB 913

 

Financial Reporting

pp. 58–62; §718.111(13), F.S.

 

Increases the number of days in which an association has to deliver to unit owners a copy of the most recent financial report from 120 days to 180 days after the end of the fiscal year.

 

Allows, in lieu of delivering the most recent financial report, an association to alternatively deliver a notice that a copy of the most recent financial report will be, if requested by a unit owner, mailed, hand delivered, or electronically delivered to the unit owner without charge within five business days after receipt of the owner’s written request.

 

Requires evidence of compliance with this delivery requirement to be made by an affidavit executed by an officer or director of the association.

 

Allows an association to prepare the following, if approved by a majority vote of all the voting interests of an association, instead of a majority of the voting interests present at a properly called meeting:

  • A report of cash receipts and expenditures in lieu of a compiled, reviewed, or audited financial statement;

  • A report of cash receipts and expenditures or a compiled financial statement in lieu of a reviewed or audited financial statement; or

  • A report of cash receipts and expenditures, a compiled financial statement, or a reviewed financial statement in lieu of an audited financial statement.

 

Effective date: July 1, 2025, unless otherwise provided in the bill.

Chapter No. 2025-175, LOF