After the transition meeting, how soon must the developer provide an audit of financial records?

The correct response indicates that the developer must provide an audit of the financial records within 90 days after the transition meeting. This timeframe is significant as it ensures transparency and accountability during the transition from the developer-controlled board to the initial elected board of the homeowners association.

The requirement for a 90-day period allows for adequate time to conduct a thorough audit while still ensuring that the homeowners receive timely information regarding the financial status of their community association. This is crucial in establishing trust and facilitating smooth governance as the new board takes over responsibilities. Adhering to this timeline is essential for the integrity of the community’s financial management and provides a clear foundation for future operational decisions.

Other durations, such as 30, 60, or 120 days, do not align with the established guidelines under Florida law governing community associations, which specify the 90-day requirement as the standard for such audits after a transition meeting. This helps ensure that the financial records are vetted and presented to the new board and community members promptly.