The budget shows which costs the VvE expects this year and how much owners contribute towards them. Under the Model Regulations 2017, the budget for the current financial year is adopted at the latest at the annual meeting (article 15.1).
The budget must clearly distinguish, among other things: the shared debts and costs, the amounts from the multi-year maintenance plan for that year, the additions to the reserve fund with each owner's share, and the income. When adopting it, the meeting also sets the advance contributions and each owner's share (article 15.2).
If no contribution has yet been set for a new year, owners under the Model Regulations 2017 keep paying the last advances set (article 15.3). Under the Model Regulations 2017, the board may not commission maintenance that is not in the budget unless the meeting has authorised it in advance (article 56.2).
See also: VvE contribution (service charge), Annual accounts (jaarrekening), Multi-year maintenance plan (MJOP), Annual meeting (jaarvergadering), Treasurer
Read more: VvE fees explained
Legal basis: Modelreglement 2017, art. 15 en 56.2