1.  Community Associations.  In community associations, a board is required to prepare and adopt a budget at least annually, and to present the adopted budget to the association members at a meeting of the members.  The law does not require a budget to be adopted or approved by the association members.  The budget is adopted and approved by the board.  However, the owners may disapprove a budget, or veto just the reserve fund line item in the budget (discussed in paragraph 3 below) if, within 45 days after the association meeting at which the board presents the adopted budget, owners holding at least 51% of the total voting rights (not just 51% of those at the meeting) vote to disapprove the budget at a special meeting called for that purpose.  Thus, such a vote of disapproval may not be conducted at the meeting where the budget is presented.  The vote can only occur at a special meeting called for that purpose.  See Utah Code Section §§  57-8a-215 and 57-8a-211(7).

2.  Condo Associations.  The Condo Act does

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Statutes and Cases:

(For reference: 57-8 is the Condo Act, 57-8a is the Community Association Act, 16-6a is the Nonprofit Act)

57-8-17. Records - Availability for examination
57-8-7.5. Reserve analysis -- Reserve fund
57-8a-211. Reserve analysis -- Reserve fund
57-8a-215. Budget
57-8a-227. Records -- Availability for examination