Florida Community Association Manager Practice Exam

What percentage increase in operating assessment allows voting interest to petition the board for a special meeting?

1. 10%

2. 15%

3. 20%

4. 25%

The correct answer is: 15%

The correct answer indicates that a 15% increase in operating assessments allows a certain percentage of voting interests within the community to petition the board for a special meeting. This provision is an important aspect of community governance as it ensures that significant financial changes, such as an increase in assessments, can be subject to member oversight and opinion. Under Florida Statutes, particularly for community associations, there are provisions in place that safeguard owners' interests in the management of the community's finances. The threshold of 15% serves as a trigger point that recognizes when owners may feel that a substantial change is at hand, warranting their right to seek further discussion or action. This allows owners to come together and potentially challenge or seek clarification regarding the financial decisions made by the board, thus fostering engagement and accountability in the management of the community's resources. Understanding this percentage is crucial for both board members and community association members. It informs them of their rights and the mechanisms available for them to voice concerns and ensure transparency regarding financial practices within their association.