FL H1207

Revises financial reporting requirements for homeowners associations based on total annual revenues, lowering thresholds from $125,000/$250,000/$500,000 to $100,000/$200,000/$400,000 respectively for compiled, reviewed, and audited financial statements.

Changes the unit threshold for cash receipts and expenditures reporting from 50 units to 75 units for homeowners associations, allowing smaller associations to use simplified reporting.

Reduces the timeline for cooperative financial report delivery from 90 days to 60 days following the end of the fiscal year.

Updates condominium association financial reporting requirements to lower revenue thresholds and reduces the parcel threshold for simplified reporting in community associations from 50 to fewer than 50 parcels.

Takes effect July 1, 2013.