Section 2. Budget

FCHOA Bylaws - Revision Date: 2022-05-20

.  It shall be the duty of the Board to prepare a budget covering the estimated costs of operating the Association during each fiscal year, which shall include a contribution to the Capital Reserve Fund, in accordance with Article VII (b) and (u) of these Bylaws. The Board shall cause the budget and the assessments to be levied against each Lot for the following year to be delivered to each Member (i) at least thirty (30) days prior to the end of the current fiscal year, or (ii) at such time as a new budget is prepared and adopted by the Board.