Florida Condo Board Rights Question

What is the name of your state? Florida
Based on the size of the annual budget of our condominium association, we are required by law to conduct an annual audit of our financial records. As permitted by law, condo owners were asked by the Board and our previous management company to vote on this issue. Many times owners decided to waive the right to an audit because owners did not want to spend that kind of money. The same thing happened in 2003 and owners voted down the audit back in November with a simple majority vote.
As of January of 2004 we switched to a new management company. Based on a recommendation by the new management company, our Board decided to go ahead with an audit of our 2003 records despite the wishes of owners. During the last Board meeting the audit was discussed as "Old Business" and was awarded to one of the firms recommended by our new management company.
I carefully studied our By-Laws and Section 718 of the Florida Statues, but can't find any section where the Board is given the power to overturn a decision made by the owners. Can you point me in the right direction, please?
While I understand that an audit of our financial records is prudent once in a while, I feel that the Board has the responsibility to carry out the wishes of owners.
Also, the new management company has already hinted that the Board will not ask owners in the future to cast a vote on the issue of audit. It will be just a fact of life at the owners expense. Is the Board allowed to operate like this?

[JETX]

There are several factors involved in this answer, not the least of which is a COMPLETE review of your HOA rules. Contact a local attorney who can review ALL the facts and answer the boards questions.

[HomeGuru]

Originally posted by vicuska
What is the name of your state? Florida
Based on the size of the annual budget of our condominium association, we are required by law to conduct an annual audit of our financial records. As permitted by law, condo owners were asked by the Board and our previous management company to vote on this issue. Many times owners decided to waive the right to an audit because owners did not want to spend that kind of money. The same thing happened in 2003 and owners voted down the audit back in November with a simple majority vote.
As of January of 2004 we switched to a new management company. Based on a recommendation by the new management company, our Board decided to go ahead with an audit of our 2003 records despite the wishes of owners. During the last Board meeting the audit was discussed as "Old Business" and was awarded to one of the firms recommended by our new management company.
I carefully studied our By-Laws and Section 718 of the Florida Statues, but can't find any section where the Board is given the power to overturn a decision made by the owners. Can you point me in the right direction, please?
While I understand that an audit of our financial records is prudent once in a while, I feel that the Board has the responsibility to carry out the wishes of owners.
Also, the new management company has already hinted that the Board will not ask owners in the future to cast a vote on the issue of audit. It will be just a fact of life at the owners expense. Is the Board allowed to operate like this?

**A: if the audit is required by law, that is your answer.

I'm certainly not an attorney, however, I used to do audits for our borough (small town) government as an "elected official" and I'm not an accountant either ...

Does the law state that it has to be an (expensive) independent accounting firm, or does it just state an audit needs to be completed. Perhaps the homeowners could form an audit committee? Just my thoughts in the matter.

[HomeGuru]

Originally posted by klynnnn@yah
I'm certainly not an attorney, however, I used to do audits for our borough (small town) government as an "elected official" and I'm not an accountant either ...

Does the law state that it has to be an (expensive) independent accounting firm, or does it just state an audit needs to be completed. Perhaps the homeowners could form an audit committee? Just my thoughts in the matter.

**A: and perhaps the homeowners could form an investigative committee to audit the audit committee.