Reserve funding plan after your SIRS
Turn the study into a budget the board can lawfully adopt.
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We work with your manager and the professional who prepared the study so the board can compare funding schedules, loans and assessments before the budget meeting.
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- Inspections by Florida-licensed engineers and architects
- Milestone, SIRS and recertification deadlines
The short answer
Every SIRS must include at least a baseline funding plan that keeps the reserve cash balance above zero in each budget year. Boards may fund SIRS items with regular assessments, special assessments, lines of credit or loans, the last three needing a majority of the total voting interests, and for budgets adopted on or before 31 December 2028 owners may vote to pause reserves for up to two budgets to pay for milestone repairs (s. 718.112(2)(f) and (g), Florida Statutes).
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What funding options does the law allow?
- Regular assessments set in the annual budget
- Special assessments, with a majority of the total voting interests
- A line of credit or loan, with a majority of the total voting interests, sized to cover any previously waived or unfunded reserves and immediately available to the board
- Pooling, but only of SIRS components with other SIRS components
Can we pause reserves to pay for milestone repairs?
For a budget adopted on or before 31 December 2028, if a milestone inspection was completed in the previous 2 calendar years, owners may approve by a majority of the total voting interests a pause or reduction of reserve contributions for up to two consecutive budgets to fund the milestone repairs. A new SIRS is required before contributions resume. The option does not apply to developer-controlled associations or associations controlled by owners for less than a year.[1]
What if the building is uninhabitable after a disaster?
If the local building official decides the whole building is uninhabitable because of a natural emergency, the board may pause or reduce reserve funding until the building is habitable again, and may spend reserves to make it habitable.[1]
Frequently asked questions
Can owners still vote to waive SIRS reserves?
Not for budgets adopted on or after 31 December 2024 in an owner-controlled association that must have a SIRS, except a multicondominium with an alternative funding method approved by the Division.
Does a loan have to be disclosed to buyers?
Yes. A special assessment, line of credit or loan used this way, and its details, must be in the annual financial statement given to owners and to prospective purchasers.
Is the baseline plan the only option?
No. The study may recommend other funding schedules, as long as each one is enough to meet the association's maintenance obligation.
Sources
- s. 718.112, Florida Statutes (2026): Bylaws, including (2)(f) budget and reserves, (2)(g) SIRS, (2)(h) milestone inspections, The Florida Senate. Accessed October 28, 2026.
- Inspections: DBPR Condominium Information and Resources, Florida DBPR, Division of Florida Condominiums, Timeshares, and Mobile Homes. Accessed October 28, 2026.
- Reserve threshold, Florida DBPR. Accessed October 28, 2026.
- Chapter 2025-175, Laws of Florida (CS/CS/HB 913), approved June 23 2025, Laws of Florida. Accessed October 27, 2026.
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