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Reserves are
the money an association accrues over time to pay for future repairs and
replacements of community assets. A Reserve Study is an
in-depth analysis of both the physical components and the financial status
of the association's long term funding & planning. Among other things,
a Reserve Study provides a savings plan which allows you to make small
monthly contributions to your reserve account in order to have sufficient
funding available when each asset needs to be repaired or replaced.
Special assessments, which are often substantial and usually unfairly
apportioned, are no longer required each time an asset needs replacement.
And there's no guessing as to how long a component will last or how much it
will cost. |
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A complete
collection of detail reports for each asset showing placed in service date,
useful life, replacement year, quantity, unit cost, percentage replacement,
current cost, future cost, accumulated reserves, salvage value, required
monthly contribution to reserves, accumulated interest, net monthly
allocation, and remarks detailing factors such as design, manufacture
quality, usage, exposure to the elements and maintenance history. |
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A long-term
budgeting guide providing highly-accurate thirty-year projections listing
total current replacement costs, annual membership contributions, annual
expenditures, projected and ideal ending reserves and yearly percentages of
ideal funding. In addition, color graphs make the projected data easy to
read and use for planning purposes. |
