Community associations across Martin County
Martin County sits on the Treasure Coast, where Hutchinson Island and the Atlantic meet the Indian River Lagoon and the St. Lucie River. Stuart is its best-known city. The county has generally favored lower-density development, so its associations are more often low- and mid-rise buildings and gated neighborhoods than large towers.
Oceanfront and riverfront condominiums line the water, while golf and country club communities and gated homeowners associations are common further inland. Many communities are popular with retirees and with owners who spend the winter in Florida.
Financial questions Martin County boards are working through
Seasonal owners and volunteer boards
When a share of owners lives in the county only part of the year, board meetings, budget votes, and the annual report all need to work for people who are often away. Volunteer boards also change over as residents move on. Financial statements that are clear and consistent from year to year help a new treasurer step in and let owners follow the association's finances from wherever they are.
Island and riverfront buildings
Condominium buildings three stories or higher, including those on the island and along the river, are subject to structural integrity reserve studies and milestone inspections. Reserves for structural integrity reserve study items generally cannot be waived, and a special assessment, loan, or line of credit used to fund them must appear in the annual financial statement. Florida's reporting requirements explain more.
Insurance and amenity costs
Coastal coverage is a significant cost for waterfront buildings, and country club communities also budget for clubhouses, courses, and grounds. Boards benefit from statements that show where those costs fall, and how they affect operating funds and reserves.