How often must the board report gifts to the homeowners?

The correct response regarding how often the board must report gifts to the homeowners is indeed linked to being "along with the budget." This requirement stems from the necessity for transparency and accountability within community associations. When the board prepares the annual budget, it is a prime opportunity to disclose any gifts received, allowing homeowners to understand the financial landscape of their community better.

This practice aligns with good governance principles, ensuring residents are aware of all financial matters that might impact their investment in the community. While the board may have other reporting obligations, coupling gift disclosures with the budget presentation ensures that this important information is delivered in a structured and regular manner, promoting transparency and trust between the board and homeowner members.

The other frequencies are less formalized; though homeowners might appreciate more frequent updates or specific disclosures when they request such information, the established procedure is to include gifts in the annual budget.