SIRS update when your funding plan changes
Required before a budget that does not match your latest study.
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If you took a loan, line of credit or special assessment after your last study, or want a budget that departs from it, we arrange the update with a qualified professional.
- Free, no-obligation proposal
- Inspections by Florida-licensed engineers and architects
- Milestone, SIRS and recertification deadlines
The short answer
Florida law requires a SIRS to reflect how the association funds its reserves. If the study was completed before the association adopted a special assessment, line of credit or loan, it must be updated to reflect that funding, and an updated SIRS is required before the board adopts a budget that does not align with the latest study's funding plan (s. 718.112(2)(g)4.c, Florida Statutes).
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Who this is for
Boards that financed milestone repairs or reserves with a loan, line of credit or special assessment after their last study, and boards preparing a budget that will not follow the existing funding plan.
What triggers an update?
- A special assessment, line of credit or loan adopted after the last study
- A proposed budget that does not align with the funding plan in the latest study
- Resuming reserve contributions after a post-milestone pause, which requires a new SIRS first
- The 10-year cycle, which calls for a new study
Why updates matter for loans and lines of credit
A line of credit or loan used for SIRS items must be big enough to cover any previously waived or unfunded reserve amounts, must be immediately available to the board, and must be disclosed in the annual financial statement and to prospective buyers. The updated study shows how that money fits the reserve plan.[1]
Frequently asked questions
Is an update cheaper than a full study?
Usually the scope is narrower because the components are already documented, but the fee depends on what has changed. You get a written proposal first.
Do owners get the updated study too?
The 45-day distribution and Division statement apply when the association receives a structural integrity reserve study, so plan to follow the same steps for an update.
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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