Florida proposes letting condo boards merge reserve balances into one pool without an owner vote

Florida's condominium division wants to change when a board must ask owners before it reshuffles reserve money. A proposed amendment to Rule 61B-22.005, published in the Florida Administrative Register on October 22, would let an association move balances from straight-line reserve accounts into a single pooled account without a unit-owner vote, subject to the rule's existing conditions.

The rule now requires a vote when a change of accounting method reduces or eliminates the balance for any one reserve component. The draft narrows that trigger to a reduction in total reserve balances across all components. Section 718.112(2)(f)4. already lets a board switch methods without a member vote.

The draft also deletes the exception that let a pooled schedule outrun the consumer and producer price index limits when material costs jumped. A hearing is set for November 12 if one is requested within 21 days.