How do we prepare and send our Colorado HOA's annual disclosure?

By OurHOA · General information · Revised October 28, 2026

How a Colorado HOA board builds the annual disclosure under C.R.S. 38-33.3-209.4: the required items, the 90-day deadline, delivery options and a sample notice.

Part of the HOA board handbook: residents and communication.

The short answer

Colorado Revised Statutes section 38-33.3-209.4(2) requires every association covered by the Common Interest Ownership Act to make a set of documents available to owners within 90 days after each fiscal year ends. The packet covers the budget, assessments, financial statements, insurance, governing documents, last year's minutes and the board's governance policies. Owners can't be charged for it, and section 209.4(3) allows only three ways to deliver it: a web page plus a notice of the address by first-class mail or email, a binder or literature table at the association's principal place of business, or mail or hand delivery. The rule reaches further than many boards assume. Section 38-33.3-117(1.5)(c) applies it to communities created before July 1, 1992. The main exception is section 38-33.3-116: a planned community created after that date with 20 or fewer units and no development rights, or one whose declaration caps the average yearly assessment at the inflation-adjusted $400 limit, is outside most of the act unless its declaration opts in. Your declaration and bylaws may add more items. This guide is general education, not legal advice, so have the association's attorney confirm the list for your community once.

What goes in the packet

Section 209.4(2) lists ten items. Build the packet in this order so owners can find things and the board can check it off: 1. The date the fiscal year starts. 2. The operating budget for the current year. Post the adopted budget, not the proposal. 3. Current assessments by unit type, regular and special. 4. Last year's annual financial statements, including the amounts held in reserve. 5. The results of the most recent audit or review, if there is one. 6. A list of every association insurance policy (property, general liability, directors and officers, fidelity and any others) with the company name, limits, deductibles, additional named insureds and expiration date. 7. The bylaws, articles, and rules and regulations. 8. Minutes of board and member meetings for the year just ended. 9. The responsible governance policies adopted under section 38-33.3-209.5. The statute names nine subjects: collections, conflicts of interest, conduct of meetings, covenant enforcement and fines, records inspection, reserve investment, adopting and amending policies, dispute resolution, and the reserve study policy. 10. The most recent reserve study required by section 38-33.3-209.2. Item 10 is new. HB 26-1099, signed April 13, 2026 and effective August 12, 2026, added it along with section 209.2, which makes the declarant commission and pay for a 30-year reserve study before turning a planned community or condominium over to the owners. A community that left declarant control years ago won't have a study under 209.2. Post the study you do have anyway. It answers the question owners ask most after they see the budget. Section 209.4(1) adds a contact page: the association's name, any designated agent or management company, a working physical address and phone number for each, the community's name, the date the declaration was first recorded, and its reception number or book and page. If the address, agent or manager changes, the updated page is due within 90 days of the change, not at year end.

Pick the delivery method you can keep up

Most self-managed boards have no office where owners could leaf through a binder, and mailing 80 copies of the minutes is expensive. The web page route is the practical one. Put the packet on the community website or a shared folder owners can open without a login fee, then send every owner the address by email or first-class mail. Posting alone doesn't count. The statute ties the web page to that notice, so the email or letter is the step that satisfies the law. Use the contact list the treasurer keeps for billing, and mail a letter to anyone without an email address on file. Save a copy of the notice, the send date and the list of recipients in the records. Section 38-33.3-317(1)(h.6) makes everything in the annual disclosure part of the association's records, so owners can also ask to inspect it later. Printing and postage are a common expense under section 209.4(3), so budget a small line for them. Our guide on setting up an HOA document library owners can search covers how to organize the folder so this year's packet sits next to last year's.

A sample calendar for a calendar-year association

With a fiscal year that ends December 31, the 90-day deadline lands on March 31. Work back from it. Early January: the treasurer closes December, reconciles the bank and reserve accounts, and starts the year-end financial statements. The secretary pulls the approved minutes for the year and checks that every meeting has a signed set. Late January: ask the insurance agent for a one-page schedule showing each policy's carrier, limits, deductible, additional insureds and expiration date. A schedule from the agent is more reliable than retyping the declarations pages. February: the board approves the financial statements. If owners holding a third of the units asked for a review, or for an audit at an association with $250,000 or more in revenue or spending, section 38-33.3-303(4)(b) applies and the report may arrive later. Post the most recent completed one and note that the new one will follow. Early March: assemble the packet, have a second director check it against the ten items, and post it. By March 15: send the notice. Sending two weeks early leaves time to fix a broken link or a bounced email before the deadline. The budget summary is a separate job. Section 303(4)(a) gives the board 90 days after adopting a proposed budget to send owners a summary and set a meeting to consider it. Don't let one mailing stand in for the other.

Notice and motion wording

A notice owners will read is short and tells them exactly where to click. Adapt this: "The [Association name] annual disclosure for the fiscal year that began [date] is now posted at [web address]. It includes the [year] budget, current assessments, the [year] financial statements and reserve balances, the most recent financial review, a list of our insurance policies, our governing documents and policies, and last year's board and member meeting minutes. There is no charge to view or download it. If you would like a paper copy mailed to you, reply to this message or call [name] at [phone]." Offering paper copies on request costs little and heads off complaints from owners who don't use email. Record the decision in the minutes so the next board inherits the routine. A sample motion: "Move that the treasurer and secretary assemble the annual disclosure required by C.R.S. 38-33.3-209.4, post it on the association website, and send notice of the web address to all owners by email or first-class mail no later than March 31 each year, and that the secretary file a copy of the notice and recipient list with the association's records."

Mistakes that make the packet incomplete

These are the gaps that show up most often when an owner, a buyer's agent or the attorney reviews a disclosure. Posting the proposed budget. Owners need the one that took effect after the budget meeting. Leaving deductibles off the insurance list. The statute names them, and they matter more each year as property deductibles climb. Missing minutes. Draft minutes from the December meeting may not be approved until January. Post the approved version and add it later if needed. Forgetting the policies. Many associations adopted their nine governance policies years ago and never put them in front of owners again. They belong in every year's packet. Treating a web page as enough. Without the email or letter giving the address, the web page method isn't complete. Letting the link break. Sites change hosts and shared folders get reorganized. When the board changes platforms, update the link and send a fresh notice. The contact page in section 209.4(1) also needs updating within 90 days of a new address or manager, which our guide on registering or renewing a Colorado HOA with the Division of Real Estate pairs with the state registration update. Posting what the statute doesn't ask for. The owner list with addresses and phone numbers is a record owners can request under section 317, not part of the public packet. Keep it off the website.

How Florida and Texas compare

Florida bundles less into one package but sets firmer report deadlines. Section 720.303(6) requires the association to give each member a copy of the annual budget or a written notice that a copy is available at no charge. Section 720.303(7) requires a financial report for the prior year within 90 days after the fiscal year ends, and gives the association 21 days after the report is complete, and no more than 120 days after year end, to send members a copy or a notice that one is available free. The report's level depends on revenue: a cash receipts and expenditures report under $150,000, compiled statements from $150,000, reviewed statements from $300,000, and audited statements from $500,000 or at 1,000 parcels. Texas has no Colorado-style annual packet. Property Code section 207.006 requires an association with at least 60 lots, or one that uses a management company, to keep its recorded dedicatory instruments on a website available to members. Most other financial records reach Texas owners through records requests. In every state, the declaration and bylaws can require more than the statute does, such as mailing the full budget or an audited statement. Read them once and add anything extra to your checklist.

Sources

These guides are general education for HOA boards and residents, not legal, tax, or financial advice. Rules vary by state and by your community's governing documents - check with a professional for your situation.

More on living with an hoa

Or browse all living with an hoa guides.