Florida Community Association Manager Practice Exam

What must be approved by a majority of the TVI present at an HOA meeting?

1. Changes to the bylaws

2. Voting to prepare an annual review instead of an audit

3. Election of board members

4. Approval of new budget

The correct answer is: Voting to prepare an annual review instead of an audit

The correct answer focuses on the voting process that pertains specifically to the decision of whether to prepare an annual review instead of conducting an audit. In many Homeowners' Associations (HOAs), the bylaws or governing documents outline specific requirements for various decisions that can be made by the board or membership. When it comes to financial matters like the choice between an annual review versus an audit, these decisions often do not require the same level of approval as more substantial governance matters like changes to the bylaws or the election of board members. Typically, a simple majority of the members present at the meeting can approve the change to the financial procedures, making it a more flexible decision compared to the other options provided. In contrast, altering bylaws often necessitates a higher threshold of approval, such as a supermajority or a vote from all members rather than just a majority of those present at a meeting. The election of board members usually also requires a broader participation, often aligning with a quorum requirement, to ensure that there is adequate representation in the decision-making process. Similarly, the approval of a new budget frequently adheres to specific rules within the association’s governing documents, which can also require more than just a simple majority to validate the decision.