What does Florida law require in my HOA's annual financial report?
Use the free tool — HOA Budget Reader
What the annual financial report is supposed to do
Your association's annual financial report is the official accounting of what it collected and spent for the year. It is separate from the proposed budget you vote on going forward — the report looks backward at what actually happened. Florida law sets what has to be in it.
What Florida law requires
Fla. Stat. 720.3086 is the association's financial report requirement — what the association has to produce each year. It works alongside Fla. Stat. 720.303, which covers the association's budgets, financial reporting and official records, including the members' right to inspect the records behind the numbers.
- These two statutes tell you what the association owes you on paper.
- They don't tell you whether a specific number in your community's report is right — for that, compare it to your own declaration, your bylaws, and the invoices behind it.
Your right to see the records behind the numbers
If a line in the report doesn't add up for you, you can ask to see what's behind it. Under Fla. Stat. 720.303, once you make a written request, the association has 10 business days to make official records available.
- Put the request in writing.
- Ask for the specific invoices, contracts, or ledger entries tied to the line you're questioning.
- Confirm the current process and deadlines with the association or a Florida community association attorney — this page can't track a specific community's process for you.
What this doesn't tell you: reserves
How your community funds reserves — and what your declaration requires it to fund — depends on your own governing documents. This page can't tell you what your community owes into reserves or whether the amount shown is enough. Read your declaration and bylaws, or ask the board directly.
If you live in a condo, this isn't your law
This guide is about Chapter 720, Florida's homeowners' association law. Condominiums are governed by Chapter 718 instead. If you live in a condo, cooperative, timeshare, or mobile home park, don't rely on anything here — the requirements aren't the same.
What to do next
Paste your association's financial report or proposed budget into the free tool, and it will read your own numbers — line by line, in plain English — and flag what's worth asking about before you vote. This is not an audit, it is not legal or financial advice, and it cannot tell you whether money was misspent. For anything contested, or for a violation or fine notice, talk to a Florida community association attorney or use the tool built for that instead.
HOA Budget Reader reads what you type and explains Florida Chapter 720 in plain language. It can be wrong, it is not legal advice, and it is not a substitute for reading your community's own declaration and bylaws, and it is not an audit — it cannot detect misuse of funds. For anything contested, talk to a Florida community association attorney.