Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
Under FL law,(###) ###-####Contracts for products and services; in writing; bids; exceptions.—
"(1) All contracts as further described in this section or any contract that is not to be fully performed within 1 year after the making thereof for the purchase, lease, or renting of materials or equipment to be used by the association in accomplishing its purposes under this chapter or the governing documents, and all contracts for the provision of services, shall be in writing. If a contract for the purchase, lease, or renting of materials or equipment, or for the provision of services, requires payment by the association that exceeds 10 percent of the total annual budget of the association, including reserves, the association must obtain competitive bids for the materials, equipment, or services. Nothing contained in this section shall be construed to require the association to accept the lowest bid.
(2)(a)1. Notwithstanding the foregoing, contracts with employees of the association, and contracts for attorney, accountant, architect
, community association manager, engineering, and landscape architect services are not subject to the provisions of this section.
2. A contract executed before October 1, 2004, and any renewal thereof, is not subject to the competitive bid requirements of this section. If a contract was awarded under the competitive bid procedures of this section, any renewal of that contract is not subject to such competitive bid requirements if the contract contains a provision that allows the board to cancel the contract on 30 days’ notice. Materials, equipment, or services provided to an association under a local government franchise agreement by a franchise holder are not subject to the competitive bid requirements of this section. A contract with a manager, if made by a competitive bid, may be made for up to 3 years. An association whose declaration or bylaws provide for competitive bidding for services may operate under the provisions of that declaration or bylaws in lieu of this section if those provisions are not less stringent than the requirements of this section.
(b) Nothing contained in this section is intended to limit the ability of an association to obtain needed products and services in an emergency.
(c) This section does not apply if the business entity with which the association desires to enter into a contract is the only source of supply within the county serving the association.
(d) Nothing contained in this section shall excuse a party contracting to provide maintenance
or management services from compliance with s. 720.309."
FS 720.309 in pertinent part only states, "(a) Any contract entered into by the board may be canceled by a majority of the voting interests present at the next regular or special meeting of the association, whichever occurs first. Any member may make a motion to cancel such contract, but if no motion is made or if such motion fails to obtain the required vote, the contract shall be deemed ratified for the term expressed therein."
If you note in the FL law there is no provision for what you are asking for. It would have to be something in your association bylaws that you would be relying upon to get the disclosure of the contract details and financial information. If the bylaws do not allow you to get the information, then you still have a right to seek to cancel the contract by a vote of the members and not ratify it. So you have the board backed up to the wall if the members refuse to vote to pass the contract without the information (whether the laws or bylaws mandate they disclose the information) because the members can tell the board they will vote down the contract without the information.