Hawaii SB2840 amends condominium association budget requirements, including reserve studies and assessments.

Hawaii SB2840 modifies the budget requirements for condominium associations. It mandates that the budget summary include estimated revenues and expenses, the basis of preparation, costs for fire safety equipment, the balance of the replacement reserves fund, and estimated replacement reserves assessments. The bill also requires a general explanation of how these assessments are computed, including details on the reserve study preparer and any omitted components.

Hawaii SB2840 amends condominium association budget requirements, including reserve studies and assessments.

Hawaii SB2840 modifies the budget requirements for condominium associations. It mandates that the budget summary include estimated revenues and expenses, the basis of preparation, costs for fire safety equipment, the balance of the replacement reserves fund, and estimated replacement reserves assessments. The bill also requires a general explanation of how these assessments are computed, including details on the reserve study preparer and any omitted components.