1. No category

“Full” Reserve Study
Sample HOA
Anywhere, FL
Report #: 9999-0 Sample HOA
For Period Beginning: January 1, 2012
Expires: December 31, 2012
Date Prepared: October 4, 2011
Hello, and welcome to your Reserve Study!
T
his Report is a valuable budget planning tool, for with
it you control the future of your association. It contains
all the fundamental information needed to understand your
current and future Reserve obligations, the most significant
expenditures your association will face.
W
ith respect to Reserves, this Report will tell you
“where you are”, and “where to go from here”.
In this Report, you will find…
1)
A List of What you’re Reserving For
2)
An Evaluation of your Reserve Fund Size and
Strength
3)
A Recommended Multi-Year Reserve Funding
Plan
More Questions?
Visit our website at www.ReserveStudy.com
Association Reserves
10/4/2011
Table of Contents
3- Minute Executive Summary ............................................................................. i
Reserve Study Summary ......................................................................................................... i
Reserve Component List – Table 1 ......................................................................................... ii
Introduction, Objectives, and Methodology ...................................................... 1
How are Useful Life and Remaining Useful Life established? .................................................2
How are Cost Estimates Established? ....................................................................................2
What is our Recommended Funding Goal? ............................................................................4
Projected Expenses............................................................................................. 6
Expense Graph – Figure 1 ......................................................................................................6
Reserve Fund Status & Recommended Funding Plan ..................................... 7
Funding Plan Graph – Figure 2 ...............................................................................................7
Cash Flow Graph – Figure 3 ...................................................................................................8
% Funded Graph – Figure 4....................................................................................................8
Table Descriptions............................................................................................... 9
Reserve Component List Detail – Table 2.............................................................................10
Contribution & Fund Breakdown – Table 3 ...........................................................................12
30 Year Reserve Plan Summary – Table 4 ...........................................................................14
30 Year Reserve Plan Year by Year Detail – Table 5 ...........................................................15
Accuracy, Limitations, and Disclosures .......................................................... 27
Terms and Definitions ....................................................................................... 28
Photographic Inventory ....................................................................... Appendix
Association Reserves
10/4/2011
3- Minute Executive Summary
Association:
Sample HOA
Assoc. #: 9999-0
Sample HOA
Location:
# of Units:
Report Period:
Anywhere, FL
875
January 1, 2012 through December 31, 2012
Results as-of 1/1/2012:
Projected Starting Reserve Balance: ................................................ $95,321
Fully Funded Reserve Balance: ...................................................... $232,599
Average Reserve Deficit (Surplus) Per Unit: ..........................................$157
Percent Funded: ................................................................................... 41.0%
Recommended 2012 monthly Reserve Contribution: ....................... $16,300
Recommended 2012 Special Assessment for Reserves: ..........................$0
Most Recent Reserve Contribution Rate: .......................................... $14,375
Economic Assumptions:
Net Annual “After Tax” Interest Earnings Accruing to Reserves ...... 1.00%
Annual Inflation Rate ............................................................................. 3.00%
 This is a “Full” Reserve Study (original, created “from scratch”). The
information in this Reserve Study is based on our site inspection on
October 16, 2010. This Reserve Study was prepared by a credentialed
Reserve Specialist (RS).
 Because your Reserve Fund is between 30% and 70% at 41.0%
Funded, this represents a fair position. In perspective, associations
funded at this level face a moderate risk of special assessments and
other cash flow problems. Your multi-year Funding Plan is designed
to gradually bring you to the 100% level, or “Fully Funded”.
 Based on this starting point, your anticipated future expenses, and
your historical Reserve contribution rate, our recommendation is to
increase your Reserve contributions in the upcoming fiscal year.
 The monthly Reserve contribution amount recommended here should
be increased by 3.25% in each of the next 20 years, followed
thereafter by annual increases of 2.5%. No assets appropriate for
Reserve designation were excluded.
Association Reserves
i
10/4/2011
9999-0
Sample HOA
Table 1: Executive Summary
#
Component
Useful
Life
(yrs)
Rem.
Useful
Life (yrs)
Current
Average
Cost
Future
Average
Cost
20
5
40
20
20
8
8
10
5
18
15
0
35
15
15
3
3
5
0
13
$169,200
$23,275
$61,650
$9,200
$40,163
$16,600
$12,000
$40,000
$12,000
$8,063
$263,608
$26,982
$173,475
$14,333
$62,572
$18,139
$13,113
$46,371
$13,911
$11,840
5
30
20
20
10
8
15
5
30
10
10
12
12
15
15
6
5
5
5
8
15
4
29
15
19
5
7
10
1
25
9
5
11
7
14
10
5
0
2
0
3
10
$10,550
$60,250
$5,500
$8,213
$21,250
$24,450
$25,000
$2,038
$20,400
$16,200
$8,938
$4,350
$1,450
$2,700
$1,125
$1,900
$6,700
$925
$925
$2,750
$16,500
$11,874
$141,983
$8,569
$14,401
$24,635
$30,070
$33,598
$2,099
$42,713
$21,137
$10,361
$6,021
$1,783
$4,084
$1,512
$2,203
$7,767
$981
$1,072
$3,005
$22,175
20
20
15
18
15
16
16
15
15
15
15
15
15
15
10
13
10
11
11
10
10
10
10
10
$6,000
$2,750
$3,500
$6,000
$12,000
$8,250
$6,500
$6,000
$2,750
$1,250
$17,000
$4,500
$9,348
$4,284
$4,704
$8,811
$16,127
$11,420
$8,998
$8,063
$3,696
$1,680
$22,847
$6,048
Sample HOA - Streets & Grounds
200
202
207
505
505
704
704
705
1109
1402
Asphalt - Mill & Overlay
Asphalt - Seal/Repair
Brick Pavers - Replace
Split Rail Fences (Lg) - Replace
Split Rail Fences (Sm) - Replace
Bar Code Sensors - Replace
Intercoms - Replace
Barrier Arm Openers - Replace
Wood Fence - Repaint
Roadway Signage - Replace
Sample HOA - Amenities
107
108
323
324
404
404
405
412
503
1202
1202
1207
1207
1210
1210
1216
1604
1605
1605
1606
1616
Pool Decks - Re-coat
Pool Decks - Resurface/Repl.
Tennis Court Lights - Replace
Pool Area Lights - Replace
Park/Picnic Furniture - Replace
Pool Furniture - Replace
Play Structure - Replace
Playground Surface - Replenish
Pool Area Fence - Replace
Lap Pool - Resurface
Main Pool - Resurface
Lap Pool Filters - Replace
Main Pool Filter - Replace
Lap Pool Pump - Replace
Main Pool Pump - Replace
Swim Lane Dividers - Replace
Tennis Courts - Resurface
Tennis Windscreen - Replace (New)
Tennis Windscreen - Replace (Old)
Sports Courts/Equipment - Replace
Tennis Chain Link Fence - Replace
Sample HOA - Buildings
303
303
303
406
902
904
904
909
909
910
910
910
Clubhouse HVAC - Replace
Fitness Room HVAC - Replace
Guardhouse HVAC - Replace
Drinking Fountains - Replace
Exercise Equipment - Replace
Clubhouse Kitchen - Refurbish
Pavilion Kitchen - Refurbish
Clubhouse Bathrooms - Refurbish
Pavilion Bathrooms - Refurbish
Clubhouse Fitness Room - Remodel
Clubhouse Furnishings - Replace
Clubhouse Interior - Refinish
Association Reserves
ii
10/4/2011
9999-0
Sample HOA
Table 1: Executive Summary
#
910
1128
1129
1303
1309
48
Component
Guardhouse Interior - Remodel
Fiber Cement Siding - Replace
Fiber Cement Siding - Repaint
Comp Shingle Roof - Replace
Guardhouse Metal Roof - Replace
Total Funded Components
Useful
Life
(yrs)
Rem.
Useful
Life (yrs)
Current
Average
Cost
Future
Average
Cost
10
60
10
25
30
5
55
5
20
25
$2,250
$27,963
$10,950
$17,325
$12,375
$2,608
$142,110
$12,694
$31,291
$25,911
Note 1: a Useful Life of “N/A” means a one-time expense, not expected to repeat.
Note 2: highlighted line items are expected to require attention in the initial year
Association Reserves
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Introduction
A Reserve Study is the art and science of anticipating, and preparing for,
an association’s major common area repair and replacement expenses.
Partially art, because in this field we are making projections about the
future. Partially science, because our work is a process of research and
analysis along well defined methodologies.
In this Report you will find the Reserve
Reserve
Reserve
Study
ReserveStudy
Study
Component List (what you are reserving for).
It contains our estimates for Useful Life,
•• Component
Component List
List
Remaining Useful Life, and the current repair
•• Reserve
Reserve Fund
Fund Strength
Strength
or replacement cost for each major
•• Recommended
Recommended Contribs
Contribs
component the association is obligated to
maintain. Based on that List and your
starting balance we computed the
association’s Reserve Fund Strength (measured as “Percent Funded”), and
created a recommended multi-year Reserve Funding Plan to offset future
Reserve expenses.
As the physical assets age and deteriorate, it is important to accumulate
financial assets to keep the two “in balance”. A stable Reserve Funding
Plan that offsets the irregular Reserve expenses will ensure that each
owner pays their own “fair share” of ongoing common area deterioration.
Methodology
First we establish what the projected
expenses are, and then we determine the
Reserve
association’s financial status and create a
Reserve
Study
Types
ReserveStudy
StudyTypes
Types
Funding Plan. For this “Full” Reserve Study,
•• Full
Full
we started with a review of your Governing
•
Update
• Update With-Site-Visit
With-Site-Visit
Documents, recent Reserve expenditures,
•• Update
Update No-Site-Visit
No-Site-Visit
an evaluation of how expenditures are
handled (ongoing maintenance vs.
Reserves), and research into any wellestablished association precedents. We
performed an on-site inspection to quantify and evaluate your common
areas, creating your Reserve Component List “from scratch.”
Association Reserves
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Assoc. 9999-0 Sample HOA
Which Physical Assets are covered by Reserves?
There is a national-standard four-part test to
determine which expenses should be funded
Reserve
Reserve
Components
ReserveComponents
Components
through Reserves. First, it must be a common
area maintenance responsibility. Second, the
•• Common
Common Area
Area
component must have a limited life. Third,
•• Limited
Limited Useful
Useful Life
Life
the limited life must be predictable (otherwise,
•• Predictable
Predictable Life
Life Limit
Limit
it is by definition a “surprise” which cannot be
•• Cost
accurately anticipated). Fourth, the
Cost must
must be
be Significant
Significant
component must be above a minimum
threshold cost. This limits Reserve
Components to major, predictable expenses. Within this framework, it is
inappropriate to include “lifetime” components, unpredictable expenses
(such as damage due to fire, flood, or earthquake), and expenses more
appropriately handled from the Operational Budget or as an insured loss.
How are Useful Life and Remaining Useful Life established?
1)
Visual Inspection (observed wear and age)
2)
Association Reserves database of experience
3)
Client Component History
4)
Vendor Evaluation and Recommendation
How are Cost Estimates Established?
In this order…
1)
Client Cost History
2)
Comparison to Association Reserves database of work done at
similar associations
3)
Vendor Recommendations
4)
Professional cost estimating guidebooks and software
Association Reserves
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Assoc. 9999-0 Sample HOA
How much should you have in Reserves?
Your Reserve cash Balance can measure reserves, but the true measure is
whether the funds are adequate. Adequacy is measured in a two-step
process:
1)
2)
Calculate the association’s Fully Funded Balance (FFB).
Compare to the Reserve Fund Balance, and express as a percentage.
The FFB grows as assets age and the Reserve needs of the association
increase, but shrinks when projects are accomplished and the Reserve
needs of the association decrease. The Fully Funded Balance changes
each year, and is a moving but predictable target.
Percent
Percent Funded
Funded
-- 130%
130%
Ideal
Ideal
-- 100%
100%
-- 70%
70%
-- 30%
30%
-- 0%
0%
Strong
Strong
Fair
Fair
Weak
Weak
Special assessments and deferred maintenance are common when the
Percent Funded is below 30%. While the 100% point is Ideal, a Reserve
Fund in the 70% -130% range is considered “strong” because in this range
cash flow problems are rare.
Measuring your Reserves by Percent Funded tells how well prepared your
association is for upcoming Reserve expenses. New buyers should be
very aware of this important disclosure!
Association Reserves
3
10/4/2011
Assoc. 9999-0 Sample HOA
How much should we contribute?
There are four Funding Principles that we balance in developing your
Reserve Funding Plan. Our first objective is to design a plan that provides
you with sufficient cash to perform your Reserve projects on time. A stable
contribution rate is desirable because it is a hallmark of a proactive plan.
Reserve contributions that are evenly
distributed over the owners, over the
years, enable each owner to pay their “fair
share” of the association’s Reserve
expenses (this means we recommend
special assessments only when all other
options have been exhausted). And
finally, we develop a plan that is fiscally
responsible and “safe” for Board members
to recommend to their association.
Funding
Funding
Principles
FundingPrinciples
Principles
•• Sufficient
Sufficient Cash
Cash
•• Stable
Stable Contribution
Contribution Rate
Rate
•• Evenly
Evenly Distributed
Distributed
•• Fiscally
Fiscally Responsible
Responsible
What is our Recommended Funding Goal?
Maintaining the Reserve Fund at a level equal to the physical deterioration
that has occurred is called “Full Funding” the Reserves (100% Funded). As
each asset ages and becomes “used up”, the Reserve Fund grows
proportionally. This is simple, responsible, and our recommendation.
As stated previously, associations in the 100% range rarely experience
special assessments or deferred maintenance.
Allowing the Reserves to fall close to zero,
but not below zero, is called Baseline
Funding. In these associations,
deterioration occurs without matching
Reserve contributions. With a low Percent
Funded, special assessments and
deferred maintenance are common.
Funding
Funding
Goals
FundingGoals
Goals
•• Full
Full Funding
Funding
•• Threshold
Threshold Funding
Funding
•• Baseline
Baseline Funding
Funding
Threshold Funding is the title of all other
objectives randomly selected between
Baseline Funding and Full Funding.
Association Reserves
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Assoc. 9999-0 Sample HOA
Site Inspection Notes
During our site visit on October 16, 2010, we started with a brief meeting
with the property manager and board president, and then started the site
inspection beginning with the clubhouse and pool area. We visually
inspected all the buildings, and were able to see all areas.
Association Reserves
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Assoc. 9999-0 Sample HOA
Projected Expenses
The figure below shows the array of the projected future expenses at your
association. This figure clearly shows the near term and future expenses
that your association will face. Note the large spike in expenses shown in
2027, made up primarily of asphalt resurfacing expenses.
Annual Reserve Expenses
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0
2012
2017
2022
2027
Years
2032
2037
2042
Figure 1
A summary of this information is shown in Table 4, while details of the
projects that make up this information are shown in Table 5. Since this is a
projection about future events that may or may not take place as
anticipated, we feel more certain about “near-term” projects than those
many years away. While this Reserve Study is a one-year document, it is
based on 30 years’ worth of looking forward into the future.
Association Reserves
6
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Assoc. 9999-0 Sample HOA
Reserve Fund Status
The starting point for our financial analysis is your Reserve Fund balance,
projected to be $95,321 as-of the start of your Fiscal Year on January 1,
2012. This is based on projections given by the property manager as of
September 15, 2011. As of January 1, 2012, your Fully Funded Balance is
computed to be $232,599 (see Table 3). This figure represents the
deteriorated value of your common area components. Comparing your
Reserve Balance to your Fully Funded Balance indicates your Reserves
are 41% Funded. As indicated earlier in the Executive Summary, this
represents a fair status.
Recommended Funding Plan
Based on your current Percent Funded and your projected cash flow
requirements, we are recommending Reserve contributions of
$16,300/month this Fiscal Year. This represents the first year of the 30year Funding Plan shown below. This same information is shown
numerically in both Table 4 and Table 5.
Funding Plan
Recomm ended
Current
$4 0,000
$3 5,000
$3 0,000
$2 5,000
$2 0,000
$1 5,000
$1 0,000
$5 ,0 00
$0
20 12
20 17
20 22
20 27
20 32
20 37
20 42
Years
Figure 2
Association Reserves
7
10/4/2011
Assoc. 9999-0 Sample HOA
The following chart shows your Reserve balance under our recommended
Funding Plan and your current Funding Plan, and your always-changing
Fully Funded Balance target.
Ta rge t F ully Fu nd ed B ala nc e
30-Yr Cas h Flow
Re co m m e nd ed Fu ndin g Pla n
Cu rre nt Fu nd in g Pla n
$1,400,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$0
2012
2017
2022
2027
2032
2037
2042
Ye a rs
Figure 3
In this figure it is easy to see how your Reserve Fund gradually draws
closer to the Fully Funded (100%) level.
Re co m m e nd ed Fu ndin g Pla n
Percent Funded
Cu rre nt Fu nd in g Pla n
120%
100%
80%
60%
40%
20%
0%
2012
2017
2022
2027
2032
2037
2042
Years
Figure 4
Association Reserves
8
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Assoc. 9999-0 Sample HOA
Table Descriptions
The tabular information in this Report is broken down into five tables.
Table 1 summarizes your funded Reserve Components, and is part of the
Executive Report summary that appeared earlier in this Report.
Table 2 provides the main component description, life, and cost factors for
all components determined to be appropriate for Reserve designation. This
table represents the core information from which all other tables are
derived.
Table 3 is presented primarily as an accounting summary page. The
results of the individual line item Fully Funded Balance computations are
shown. These individual quantities are summed to arrive at the Fully
Funded Balance for the association as of the start date of the Report. The
figures in the Current Fund Balance column and the Monthly Reserve
Contribution column show our distribution throughout the line items. If the
association is underfunded, Reserve Funds are distributed first to
components with a short Remaining Useful Life. If the association’s
Reserve Balance is above 100% Funded, funds are distributed evenly for
all components. Contribution rates for each component are a proportionate
distribution of the total contribution on the basis of the component’s
significance to the association (current cost divided by useful life). This
presentation is not meant to cause clients to redistribute association funds,
it simply presents one way to evenly distribute the total among all the
different line items.
Table 4: This table provides a one-page 30-year summary of the cash
flowing into and out of the association, compared to the Fully Funded
Balance for each year.
Table 5: This table shows the cash flow detail for the next 30 years. This
table makes it possible to see what components are projected to require
repair or replacement each year, and the size of those individual expenses.
Association Reserves
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10/4/2011
9999-0
Sample
HOA
Table 2: Reserve Component List Detail
Rem.
#
Component
Quantity
Current
Useful
Useful
Best
Worst
Life
Life
Cost
Cost
20
15
$148,050
$190,350
Sample HOA - Streets & Grounds
200
Asphalt - Mill & Overlay
Approx 21,150 GSY
202
Asphalt - Seal/Repair
Approx 21,150 GSY
5
0
$21,150
$25,400
207
Brick Pavers - Replace
Approx 3,425 GSF
40
35
$54,800
$68,500
505
Split Rail Fences (Lg) - Replace
Approx 510 LF
20
15
$8,200
$10,200
505
Split Rail Fences (Sm) - Replace
Approx 2,975 LF
20
15
$35,700
$44,625
704
Bar Code Sensors - Replace
(2) Systems
8
3
$15,000
$18,200
704
Intercoms - Replace
(2) DKS Units
8
3
$10,800
$13,200
705
Barrier Arm Openers - Replace
(8) Units
10
5
$36,000
$44,000
1109
Wood Fence - Repaint
Approx 23,975 GSF
5
0
$10,800
$13,200
1402
Roadway Signage - Replace
Approx (62) Signs
18
13
$6,825
$9,300
Sample HOA - Amenities
107
Pool Decks - Re-coat
Approx 6,025 GSF
5
4
$9,050
$12,050
108
Pool Decks - Resurface/Repl.
Approx 6,025 GSF
30
29
$54,225
$66,275
323
Tennis Court Lights - Replace
(6) Single, (3) Double
20
15
$5,000
$6,000
324
Pool Area Lights - Replace
(11) Circular, (4) Pole
20
19
$7,400
$9,025
404
Park/Picnic Furniture - Replace
(32) Tables, (6) Chairs
10
5
$16,300
$26,200
404
Pool Furniture - Replace
(104) Pieces
405
Play Structure - Replace
(1) Lg Wood Structure
412
Playground Surface - Replenish
Approx 1,350 GSF
503
Pool Area Fence - Replace
Approx 510 LF
8
7
$20,850
$28,050
15
10
$20,000
$30,000
5
1
$1,700
$2,375
30
25
$17,850
$22,950
1202
Lap Pool - Resurface
Approx 75'x36'
10
9
$14,300
$18,100
1202
Main Pool - Resurface
Approx 60'x30'
10
5
$7,900
$9,975
1207
Lap Pool Filters - Replace
(3) Sand Filters
12
11
$3,900
$4,800
1207
Main Pool Filter - Replace
(1) Sand Filter
12
7
$1,300
$1,600
1210
Lap Pool Pump - Replace
(1) 5 HP Pump
15
14
$2,400
$3,000
1210
Main Pool Pump - Replace
(1) 3 HP Pump
15
10
$1,000
$1,250
1216
Swim Lane Dividers - Replace
(4) Lines
6
5
$1,600
$2,200
1604
Tennis Courts - Resurface
(2) Courts
5
0
$6,100
$7,300
1605
Tennis Windscreen - Replace (New)
Approx 660 GSF
5
2
$725
$1,125
1605
Tennis Windscreen - Replace (Old)
Approx 660 GSF
5
0
$725
$1,125
1606
Sports Courts/Equipment - Replace
Numerous Items
8
3
$2,500
$3,000
1616
Tennis Chain Link Fence - Replace
Approx 420 LF
15
10
$15,000
$18,000
Sample HOA - Buildings
303
Clubhouse HVAC - Replace
(1) 5-Ton System
20
15
$5,000
$7,000
303
Fitness Room HVAC - Replace
(1) Small System
20
15
$2,500
$3,000
303
Guardhouse HVAC - Replace
(1) 1.5 Ton System
15
10
$3,000
$4,000
406
Drinking Fountains - Replace
(3) Fountains
18
13
$5,400
$6,600
$15,000
902
Exercise Equipment - Replace
(3) Large Pieces
15
10
$9,000
904
Clubhouse Kitchen - Refurbish
Numerous Items
16
11
$7,000
$9,500
904
Pavilion Kitchen - Refurbish
Numerous Items
16
11
$5,000
$8,000
Association Reserves
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9999-0
Sample
HOA
Table 2: Reserve Component List Detail
Rem.
#
Useful
Useful
Current
Best
Worst
Component
Quantity
Life
Life
Cost
Cost
909
Clubhouse Bathrooms - Refurbish
(2) Bathrooms
15
10
$5,000
$7,000
909
Pavilion Bathrooms - Refurbish
(2) Bathrooms
15
10
$2,500
$3,000
910
Clubhouse Fitness Room - Remodel
Approx 14'x9'
15
10
$1,000
$1,500
910
Clubhouse Furnishings - Replace
Numerous Furnishings
15
10
$15,500
$18,500
910
Clubhouse Interior - Refinish
Paint, Flooring, Etc
15
10
$4,000
$5,000
910
Guardhouse Interior - Remodel
Numerous Items
10
5
$2,000
$2,500
1128
Fiber Cement Siding - Replace
Approx 9,725 GSF
60
55
$26,750
$29,175
1129
Fiber Cement Siding - Repaint
Approx 9,725 GSF
10
5
$9,725
$12,175
1303
Comp Shingle Roof - Replace
Approx 7,700 GSF
25
20
$15,400
$19,250
1309
Guardhouse Metal Roof - Replace
Approx 1,125 GSF
30
25
$11,250
$13,500
48
Total Funded Components
Association Reserves
11
10/4/2011
9999-0
Sample
HOA
Table 3: Contribution and Fund Breakdown
Rem.
#
Component
Fully
Current
Useful
Useful
Current
Funded
Fund
Reserve
Life
Life
(Avg) Cost
Balance
Balance
Contributions
20
15
$169,200
$42,300
$0.00
$2,519.75
Sample HOA - Streets & Grounds
200
Asphalt - Mill & Overlay
202
Asphalt - Seal/Repair
5
0
$23,275
$23,275
$23,275.00
$1,386.46
207
Brick Pavers - Replace
40
35
$61,650
$7,706
$0.00
$459.05
505
Split Rail Fences (Lg) - Replace
20
15
$9,200
$2,300
$0.00
$137.01
505
Split Rail Fences (Sm) - Replace
20
15
$40,163
$10,041
$0.00
$598.11
704
Bar Code Sensors - Replace
8
3
$16,600
$10,375
$10,375.00
$618.03
704
Intercoms - Replace
8
3
$12,000
$7,500
$7,500.00
$446.77
705
Barrier Arm Openers - Replace
10
5
$40,000
$20,000
$17,590.58
$1,191.37
5
0
$12,000
$12,000
$12,000.00
$714.82
18
13
$8,063
$2,240
$0.00
$133.41
5
4
$10,550
$2,110
$2,110.00
$628.45
30
29
$60,250
$2,008
$0.00
$598.17
1109
Wood Fence - Repaint
1402
Roadway Signage - Replace
Sample HOA - Amenities
107
Pool Decks - Re-coat
108
Pool Decks - Resurface/Repl.
323
Tennis Court Lights - Replace
20
15
$5,500
$1,375
$0.00
$81.91
324
Pool Area Lights - Replace
20
19
$8,213
$411
$0.00
$122.30
404
Park/Picnic Furniture - Replace
10
5
$21,250
$10,625
$10,625.00
$632.92
404
Pool Furniture - Replace
8
7
$24,450
$3,056
$0.00
$910.28
405
Play Structure - Replace
15
10
$25,000
$8,333
$0.00
$496.41
412
Playground Surface - Replenish
5
1
$2,038
$1,630
$1,630.00
$121.37
503
Pool Area Fence - Replace
30
25
$20,400
$3,400
$0.00
$202.53
1202
Lap Pool - Resurface
10
9
$16,200
$1,620
$0.00
$482.51
1202
Main Pool - Resurface
10
5
$8,938
$4,469
$0.00
$266.20
1207
Lap Pool Filters - Replace
12
11
$4,350
$363
$0.00
$107.97
1207
Main Pool Filter - Replace
12
7
$1,450
$604
$0.00
$35.99
1210
Lap Pool Pump - Replace
15
14
$2,700
$180
$0.00
$53.61
1210
Main Pool Pump - Replace
15
10
$1,125
$375
$0.00
$22.34
1216
Swim Lane Dividers - Replace
6
5
$1,900
$317
$316.67
$94.32
1604
Tennis Courts - Resurface
5
0
$6,700
$6,700
$6,700.00
$399.11
1605
Tennis Windscreen - Replace (New)
5
2
$925
$555
$555.00
$55.10
1605
Tennis Windscreen - Replace (Old)
5
0
$925
$925
$925.00
$55.10
1606
Sports Courts/Equipment - Replace
8
3
$2,750
$1,719
$1,718.75
$102.38
1616
Tennis Chain Link Fence - Replace
15
10
$16,500
$5,500
$0.00
$327.63
$89.35
Sample HOA - Buildings
303
Clubhouse HVAC - Replace
20
15
$6,000
$1,500
$0.00
303
Fitness Room HVAC - Replace
20
15
$2,750
$688
$0.00
$40.95
303
Guardhouse HVAC - Replace
15
10
$3,500
$1,167
$0.00
$69.50
406
Drinking Fountains - Replace
18
13
$6,000
$1,667
$0.00
$99.28
902
Exercise Equipment - Replace
15
10
$12,000
$4,000
$0.00
$238.27
904
Clubhouse Kitchen - Refurbish
16
11
$8,250
$2,578
$0.00
$153.58
904
Pavilion Kitchen - Refurbish
16
11
$6,500
$2,031
$0.00
$121.00
Association Reserves
12
10/4/2011
9999-0
Sample
HOA
Table 3: Contribution and Fund Breakdown
Rem.
#
Component
Fully
Current
Useful
Useful
Current
Funded
Fund
Reserve
Life
Life
(Avg) Cost
Balance
Balance
Contributions
909
Clubhouse Bathrooms - Refurbish
15
10
$6,000
$2,000
$0.00
$119.14
909
Pavilion Bathrooms - Refurbish
15
10
$2,750
$917
$0.00
$54.60
910
Clubhouse Fitness Room - Remodel
15
10
$1,250
$417
$0.00
$24.82
910
Clubhouse Furnishings - Replace
15
10
$17,000
$5,667
$0.00
$337.56
910
Clubhouse Interior - Refinish
15
10
$4,500
$1,500
$0.00
$89.35
910
Guardhouse Interior - Remodel
10
5
$2,250
$1,125
$0.00
$67.01
1128
Fiber Cement Siding - Replace
60
55
$27,963
$2,330
$0.00
$138.81
1129
Fiber Cement Siding - Repaint
10
5
$10,950
$5,475
$0.00
$326.14
1303
Comp Shingle Roof - Replace
25
20
$17,325
$3,465
$0.00
$206.41
Guardhouse Metal Roof - Replace
30
25
$12,375
$2,063
$0.00
$122.86
$232,599
$95,321
$16,300
1309
48
Total Funded Components
Association Reserves
13
10/4/2011
9999-0
Sample
HOA
Table 4: 30-Year Reserve Plan Summary
Fiscal Year Beginning:
01/01/12
Interest:
1.0%
Inflation:
3.0%
Loans or
Special
Assmts
Interest
Income
Projected
Reserve
Expenses
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$1,070
$1,520
$2,207
$2,762
$3,291
$3,274
$3,329
$3,991
$4,698
$5,430
$5,302
$4,999
$5,611
$6,534
$7,404
$5,418
$3,530
$4,636
$5,805
$6,451
$6,594
$7,353
$8,687
$9,782
$10,822
$9,596
$8,477
$9,474
$10,539
$11,092
$42,900
$2,099
$981
$34,257
$11,874
$148,604
$2,433
$32,991
$0
$34,903
$178,103
$75,285
$1,319
$20,651
$20,042
$597,558
$3,270
$4,669
$0
$118,822
$108,773
$3,790
$1,772
$60,589
$21,446
$520,696
$4,394
$104,456
$0
$215,861
Year
Starting
Reserve
Balance
Fully
Funded
Balance
Percent
Funded
Rating
Annual
Reserve
Contribs.
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
$95,321
$118,691
$185,431
$256,164
$296,434
$361,949
$293,125
$373,014
$425,574
$514,483
$571,958
$488,931
$511,337
$611,332
$696,029
$785,417
$298,618
$407,643
$519,909
$641,664
$649,010
$670,440
$800,701
$937,482
$1,019,789
$1,145,606
$774,357
$921,788
$973,737
$1,134,881
$232,599
$251,758
$315,209
$383,456
$421,270
$485,121
$411,959
$489,119
$539,138
$626,718
$683,118
$595,920
$614,282
$711,720
$794,580
$883,036
$381,863
$480,406
$583,177
$696,636
$693,991
$704,583
$826,678
$957,661
$1,035,232
$1,158,786
$775,255
$915,551
$960,638
$1,118,425
41.0%
47.1%
58.8%
66.8%
70.4%
74.6%
71.2%
76.3%
78.9%
82.1%
83.7%
82.0%
83.2%
85.9%
87.6%
88.9%
78.2%
84.9%
89.2%
92.1%
93.5%
95.2%
96.9%
97.9%
98.5%
98.9%
99.9%
100.7%
101.4%
101.5%
Fair
Fair
Fair
Fair
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
Strong
$65,200
$67,319
$69,507
$71,766
$74,098
$76,506
$78,993
$81,560
$84,211
$86,948
$89,774
$92,691
$95,704
$98,814
$102,025
$105,341
$108,765
$112,300
$115,949
$119,718
$123,609
$126,699
$129,866
$133,113
$136,441
$139,852
$143,348
$146,932
$150,605
$154,370
Association Reserves
14
10/4/2011
9999-0
Sample
HOA
Table 5: 30-Year Income/Expense Detail (yrs 0 through 4)
Fiscal Year
2012
2013
2014
2015
2016
Starting Reserve Balance
$95,321
$118,691
$185,431
$256,164
$296,434
Annual Reserve Contribution
$65,200
$67,319
$69,507
$71,766
$74,098
$0
$0
$0
$0
$0
$1,070
$1,520
$2,207
$2,762
$3,291
$161,591
$187,530
$257,145
$330,691
$373,823
Planned Special Assessments
Interest Earnings
Total Income
#
Component
Sample HOA - Streets & Grounds
200
Asphalt - Mill & Overlay
202
Asphalt - Seal/Repair
$0
$0
$0
$0
$0
$23,275
$0
$0
$0
207
$0
Brick Pavers - Replace
$0
$0
$0
$0
$0
505
Split Rail Fences (Lg) - Replace
$0
$0
$0
$0
$0
505
Split Rail Fences (Sm) - Replace
$0
$0
$0
$0
$0
704
Bar Code Sensors - Replace
$0
$0
$0
$18,139
$0
704
Intercoms - Replace
$0
$0
$0
$13,113
$0
705
Barrier Arm Openers - Replace
1109
Wood Fence - Repaint
1402
Roadway Signage - Replace
$0
$0
$0
$0
$0
$12,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
Sample HOA - Amenities
107
Pool Decks - Re-coat
$0
$0
$0
$0
$11,874
108
Pool Decks - Resurface/Repl.
$0
$0
$0
$0
$0
323
Tennis Court Lights - Replace
$0
$0
$0
$0
$0
324
Pool Area Lights - Replace
$0
$0
$0
$0
$0
404
Park/Picnic Furniture - Replace
$0
$0
$0
$0
$0
404
Pool Furniture - Replace
$0
$0
$0
$0
$0
405
Play Structure - Replace
$0
$0
$0
$0
$0
412
Playground Surface - Replenish
$0
$2,099
$0
$0
$0
Pool Area Fence - Replace
$0
$0
$0
$0
$0
1202
Lap Pool - Resurface
$0
$0
$0
$0
$0
1202
Main Pool - Resurface
$0
$0
$0
$0
$0
1207
Lap Pool Filters - Replace
$0
$0
$0
$0
$0
1207
Main Pool Filter - Replace
$0
$0
$0
$0
$0
1210
Lap Pool Pump - Replace
$0
$0
$0
$0
$0
1210
Main Pool Pump - Replace
$0
$0
$0
$0
$0
1216
Swim Lane Dividers - Replace
$0
$0
$0
$0
$0
1604
Tennis Courts - Resurface
$6,700
$0
$0
$0
$0
1605
Tennis Windscreen - Replace (New)
$0
$0
$981
$0
$0
1605
Tennis Windscreen - Replace (Old)
$925
$0
$0
$0
$0
1606
Sports Courts/Equipment - Replace
$0
$0
$0
$3,005
$0
1616
Tennis Chain Link Fence - Replace
$0
$0
$0
$0
$0
503
Sample HOA - Buildings
303
Clubhouse HVAC - Replace
$0
$0
$0
$0
$0
303
Fitness Room HVAC - Replace
$0
$0
$0
$0
$0
Association Reserves
15
10/4/2011
9999-0
Sample
HOA
Table 5: 30-Year Income/Expense Detail (yrs 0 through 4)
Fiscal Year
2012
2013
2014
2015
2016
303
Guardhouse HVAC - Replace
$0
$0
$0
$0
$0
406
Drinking Fountains - Replace
$0
$0
$0
$0
$0
902
Exercise Equipment - Replace
$0
$0
$0
$0
$0
904
Clubhouse Kitchen - Refurbish
$0
$0
$0
$0
$0
904
Pavilion Kitchen - Refurbish
$0
$0
$0
$0
$0
909
Clubhouse Bathrooms - Refurbish
$0
$0
$0
$0
$0
909
Pavilion Bathrooms - Refurbish
$0
$0
$0
$0
$0
910
Clubhouse Fitness Room - Remodel
$0
$0
$0
$0
$0
910
Clubhouse Furnishings - Replace
$0
$0
$0
$0
$0
910
Clubhouse Interior - Refinish
$0
$0
$0
$0
$0
910
Guardhouse Interior - Remodel
$0
$0
$0
$0
$0
1128
Fiber Cement Siding - Replace
$0
$0
$0
$0
$0
1129
Fiber Cement Siding - Repaint
$0
$0
$0
$0
$0
1303
Comp Shingle Roof - Replace
$0
$0
$0
$0
$0
1309
Guardhouse Metal Roof - Replace
$0
$0
$0
$0
$0
$42,900
$2,099
$981
$34,257
$11,874
$118,691
$185,431
$256,164
$296,434
$361,949
Total Expenses
Ending Reserve Balance:
Association Reserves
16
10/4/2011
9999-0
Sample
HOA
Table 5: 30-Year Income/Expense Detail (yrs 5 through 9)
Fiscal Year
Starting Reserve Balance
Annual Reserve Contribution
Planned Special Assessments
Interest Earnings
Total Income
#
2017
2018
2019
2020
2021
$361,949
$293,125
$373,014
$425,574
$514,483
$76,506
$78,993
$81,560
$84,211
$86,948
$0
$0
$0
$0
$0
$3,274
$3,329
$3,991
$4,698
$5,430
$441,729
$375,447
$458,565
$514,483
$606,861
Component
Sample HOA - Streets & Grounds
200
Asphalt - Mill & Overlay
202
Asphalt - Seal/Repair
$0
$0
$0
$0
$0
$26,982
$0
$0
$0
207
$0
Brick Pavers - Replace
$0
$0
$0
$0
$0
505
Split Rail Fences (Lg) - Replace
$0
$0
$0
$0
$0
505
Split Rail Fences (Sm) - Replace
$0
$0
$0
$0
$0
704
Bar Code Sensors - Replace
$0
$0
$0
$0
$0
704
Intercoms - Replace
$0
$0
$0
$0
$0
705
Barrier Arm Openers - Replace
$46,371
$0
$0
$0
$0
1109
Wood Fence - Repaint
$13,911
$0
$0
$0
$0
1402
Roadway Signage - Replace
$0
$0
$0
$0
$0
Sample HOA - Amenities
107
Pool Decks - Re-coat
$0
$0
$0
$0
$13,765
108
Pool Decks - Resurface/Repl.
$0
$0
$0
$0
$0
323
Tennis Court Lights - Replace
$0
$0
$0
$0
$0
324
Pool Area Lights - Replace
$0
$0
$0
$0
$0
404
Park/Picnic Furniture - Replace
$24,635
$0
$0
$0
$0
404
Pool Furniture - Replace
$0
$0
$30,070
$0
$0
405
Play Structure - Replace
$0
$0
$0
$0
$0
412
Playground Surface - Replenish
$0
$2,433
$0
$0
$0
Pool Area Fence - Replace
$0
$0
$0
$0
$0
1202
Lap Pool - Resurface
$0
$0
$0
$0
$21,137
1202
Main Pool - Resurface
$10,361
$0
$0
$0
$0
1207
Lap Pool Filters - Replace
$0
$0
$0
$0
$0
1207
Main Pool Filter - Replace
$0
$0
$1,783
$0
$0
1210
Lap Pool Pump - Replace
$0
$0
$0
$0
$0
1210
Main Pool Pump - Replace
$0
$0
$0
$0
$0
1216
Swim Lane Dividers - Replace
$2,203
$0
$0
$0
$0
1604
Tennis Courts - Resurface
$7,767
$0
$0
$0
$0
1605
Tennis Windscreen - Replace (New)
$0
$0
$1,138
$0
$0
1605
Tennis Windscreen - Replace (Old)
$1,072
$0
$0
$0
$0
1606
Sports Courts/Equipment - Replace
$0
$0
$0
$0
$0
1616
Tennis Chain Link Fence - Replace
$0
$0
$0
$0
$0
503
Sample HOA - Buildings
303
Clubhouse HVAC - Replace
$0
$0
$0
$0
$0
303
Fitness Room HVAC - Replace
$0
$0
$0
$0
$0
Association Reserves
17
10/4/2011
9999-0
Sample
HOA
Table 5: 30-Year Income/Expense Detail (yrs 5 through 9)
Fiscal Year
2017
2018
2019
2020
2021
303
Guardhouse HVAC - Replace
$0
$0
$0
$0
$0
406
Drinking Fountains - Replace
$0
$0
$0
$0
$0
902
Exercise Equipment - Replace
$0
$0
$0
$0
$0
904
Clubhouse Kitchen - Refurbish
$0
$0
$0
$0
$0
904
Pavilion Kitchen - Refurbish
$0
$0
$0
$0
$0
909
Clubhouse Bathrooms - Refurbish
$0
$0
$0
$0
$0
909
Pavilion Bathrooms - Refurbish
$0
$0
$0
$0
$0
910
Clubhouse Fitness Room - Remodel
$0
$0
$0
$0
$0
910
Clubhouse Furnishings - Replace
$0
$0
$0
$0
$0
910
Clubhouse Interior - Refinish
$0
$0
$0
$0
$0
910
Guardhouse Interior - Remodel
$2,608
$0
$0
$0
$0
1128
Fiber Cement Siding - Replace
$0
$0
$0
$0
$0
1129
Fiber Cement Siding - Repaint
$12,694
$0
$0
$0
$0
1303
Comp Shingle Roof - Replace
$0
$0
$0
$0
$0
1309
Guardhouse Metal Roof - Replace
$0
$0
$0
$0
$0
Total Expenses
$148,604
$2,433
$32,991
$0
$34,903
Ending Reserve Balance:
$293,125
$373,014
$425,574
$514,483
$571,958
Association Reserves
18
10/4/2011
9999-0
Sample
HOA
Table 5: 30-Year Income/Expense Detail (yrs 10 through 14)
Fiscal Year
Starting Reserve Balance
Annual Reserve Contribution
Planned Special Assessments
Interest Earnings
Total Income
#
2022
2023
2024
2025
2026
$571,958
$488,931
$511,337
$611,332
$696,029
$89,774
$92,691
$95,704
$98,814
$102,025
$0
$0
$0
$0
$0
$5,302
$4,999
$5,611
$6,534
$7,404
$667,034
$586,622
$612,651
$716,680
$805,459
Component
Sample HOA - Streets & Grounds
200
Asphalt - Mill & Overlay
202
Asphalt - Seal/Repair
$0
$0
$0
$0
$0
$31,280
$0
$0
$0
207
$0
Brick Pavers - Replace
$0
$0
$0
$0
$0
505
Split Rail Fences (Lg) - Replace
$0
$0
$0
$0
$0
505
Split Rail Fences (Sm) - Replace
$0
$0
$0
$0
$0
704
Bar Code Sensors - Replace
$0
$22,978
$0
$0
$0
704
Intercoms - Replace
$0
$16,611
$0
$0
$0
705
Barrier Arm Openers - Replace
1109
Wood Fence - Repaint
1402
Roadway Signage - Replace
$0
$0
$0
$0
$0
$16,127
$0
$0
$0
$0
$0
$0
$0
$11,840
$0
Sample HOA - Amenities
107
Pool Decks - Re-coat
$0
$0
$0
$0
$15,958
108
Pool Decks - Resurface/Repl.
$0
$0
$0
$0
$0
323
Tennis Court Lights - Replace
$0
$0
$0
$0
$0
324
Pool Area Lights - Replace
$0
$0
$0
$0
$0
404
Park/Picnic Furniture - Replace
$0
$0
$0
$0
$0
404
Pool Furniture - Replace
$0
$0
$0
$0
$0
405
Play Structure - Replace
$33,598
$0
$0
$0
$0
412
Playground Surface - Replenish
$0
$2,820
$0
$0
$0
Pool Area Fence - Replace
$0
$0
$0
$0
$0
1202
Lap Pool - Resurface
$0
$0
$0
$0
$0
1202
Main Pool - Resurface
$0
$0
$0
$0
$0
1207
Lap Pool Filters - Replace
$0
$6,021
$0
$0
$0
1207
Main Pool Filter - Replace
$0
$0
$0
$0
$0
1210
Lap Pool Pump - Replace
$0
$0
$0
$0
$4,084
$1,512
$0
$0
$0
$0
$0
$2,630
$0
$0
$0
$9,004
$0
$0
$0
$0
$0
$0
$1,319
$0
$0
503
1210
Main Pool Pump - Replace
1216
Swim Lane Dividers - Replace
1604
Tennis Courts - Resurface
1605
Tennis Windscreen - Replace (New)
1605
Tennis Windscreen - Replace (Old)
$1,243
$0
$0
$0
$0
1606
Sports Courts/Equipment - Replace
$0
$3,807
$0
$0
$0
1616
Tennis Chain Link Fence - Replace
$22,175
$0
$0
$0
$0
Sample HOA - Buildings
303
Clubhouse HVAC - Replace
$0
$0
$0
$0
$0
303
Fitness Room HVAC - Replace
$0
$0
$0
$0
$0
Association Reserves
19
10/4/2011
9999-0
Sample
HOA
Table 5: 30-Year Income/Expense Detail (yrs 10 through 14)
Fiscal Year
2022
2023
2024
2025
2026
303
Guardhouse HVAC - Replace
$4,704
$0
$0
$0
$0
406
Drinking Fountains - Replace
$0
$0
$0
$8,811
$0
902
Exercise Equipment - Replace
$16,127
$0
$0
$0
$0
904
Clubhouse Kitchen - Refurbish
$0
$11,420
$0
$0
$0
904
Pavilion Kitchen - Refurbish
$0
$8,998
$0
$0
$0
909
Clubhouse Bathrooms - Refurbish
$8,063
$0
$0
$0
$0
909
Pavilion Bathrooms - Refurbish
$3,696
$0
$0
$0
$0
910
Clubhouse Fitness Room - Remodel
$1,680
$0
$0
$0
$0
910
Clubhouse Furnishings - Replace
$22,847
$0
$0
$0
$0
910
Clubhouse Interior - Refinish
$6,048
$0
$0
$0
$0
910
Guardhouse Interior - Remodel
$0
$0
$0
$0
$0
1128
Fiber Cement Siding - Replace
$0
$0
$0
$0
$0
1129
Fiber Cement Siding - Repaint
$0
$0
$0
$0
$0
1303
Comp Shingle Roof - Replace
$0
$0
$0
$0
$0
1309
Guardhouse Metal Roof - Replace
$0
$0
$0
$0
$0
Total Expenses
$178,103
$75,285
$1,319
$20,651
$20,042
Ending Reserve Balance:
$488,931
$511,337
$611,332
$696,029
$785,417
Association Reserves
20
10/4/2011
9999-0
Sample
HOA
Table 5: 30-Year Income/Expense Detail (yrs 15 through 19)
Fiscal Year
2027
2028
2029
2030
2031
Starting Reserve Balance
$785,417
$298,618
$407,643
$519,909
$641,664
Annual Reserve Contribution
$105,341
$108,765
$112,300
$115,949
$119,718
$0
$0
$0
$0
$0
$5,418
$3,530
$4,636
$5,805
$6,451
$896,176
$410,912
$524,578
$641,664
$767,832
$263,608
$0
$0
$0
$0
$36,262
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Planned Special Assessments
Interest Earnings
Total Income
#
Component
Sample HOA - Streets & Grounds
200
Asphalt - Mill & Overlay
202
Asphalt - Seal/Repair
207
Brick Pavers - Replace
505
Split Rail Fences (Lg) - Replace
$14,333
$0
$0
$0
505
Split Rail Fences (Sm) - Replace
$62,572
$0
$0
$0
$0
704
Bar Code Sensors - Replace
$0
$0
$0
$0
$29,108
704
Intercoms - Replace
$0
$0
$0
$0
$21,042
705
Barrier Arm Openers - Replace
$62,319
$0
$0
$0
$0
1109
Wood Fence - Repaint
$18,696
$0
$0
$0
$0
1402
Roadway Signage - Replace
$0
$0
$0
$0
$0
Sample HOA - Amenities
107
Pool Decks - Re-coat
$0
$0
$0
$0
$18,499
108
Pool Decks - Resurface/Repl.
$0
$0
$0
$0
$0
323
Tennis Court Lights - Replace
$8,569
$0
$0
$0
$0
324
Pool Area Lights - Replace
$0
$0
$0
$0
$14,401
404
Park/Picnic Furniture - Replace
$33,107
$0
$0
$0
$0
404
Pool Furniture - Replace
$38,092
$0
$0
$0
$0
405
Play Structure - Replace
$0
$0
$0
$0
$0
412
Playground Surface - Replenish
$0
$3,270
$0
$0
$0
Pool Area Fence - Replace
$0
$0
$0
$0
$0
1202
Lap Pool - Resurface
$0
$0
$0
$0
$28,407
1202
Main Pool - Resurface
$13,924
$0
$0
$0
$0
1207
Lap Pool Filters - Replace
$0
$0
$0
$0
$0
1207
Main Pool Filter - Replace
$0
$0
$0
$0
$2,543
1210
Lap Pool Pump - Replace
$0
$0
$0
$0
$0
1210
Main Pool Pump - Replace
$0
$0
$0
$0
$0
1216
Swim Lane Dividers - Replace
$0
$0
$3,140
$0
$0
1604
Tennis Courts - Resurface
$10,438
$0
$0
$0
$0
1605
Tennis Windscreen - Replace (New)
$0
$0
$1,529
$0
$0
1605
Tennis Windscreen - Replace (Old)
$1,441
$0
$0
$0
$0
1606
Sports Courts/Equipment - Replace
$0
$0
$0
$0
$4,822
1616
Tennis Chain Link Fence - Replace
$0
$0
$0
$0
$0
503
Sample HOA - Buildings
303
Clubhouse HVAC - Replace
$9,348
$0
$0
$0
$0
303
Fitness Room HVAC - Replace
$4,284
$0
$0
$0
$0
Association Reserves
21
10/4/2011
9999-0
Sample
HOA
Table 5: 30-Year Income/Expense Detail (yrs 15 through 19)
Fiscal Year
2027
2028
2029
2030
2031
303
Guardhouse HVAC - Replace
$0
$0
$0
$0
$0
406
Drinking Fountains - Replace
$0
$0
$0
$0
$0
902
Exercise Equipment - Replace
$0
$0
$0
$0
$0
904
Clubhouse Kitchen - Refurbish
$0
$0
$0
$0
$0
904
Pavilion Kitchen - Refurbish
$0
$0
$0
$0
$0
909
Clubhouse Bathrooms - Refurbish
$0
$0
$0
$0
$0
909
Pavilion Bathrooms - Refurbish
$0
$0
$0
$0
$0
910
Clubhouse Fitness Room - Remodel
$0
$0
$0
$0
$0
910
Clubhouse Furnishings - Replace
$0
$0
$0
$0
$0
910
Clubhouse Interior - Refinish
$0
$0
$0
$0
$0
910
Guardhouse Interior - Remodel
$3,505
$0
$0
$0
$0
1128
Fiber Cement Siding - Replace
$0
$0
$0
$0
$0
1129
Fiber Cement Siding - Repaint
$17,060
$0
$0
$0
$0
1303
Comp Shingle Roof - Replace
$0
$0
$0
$0
$0
1309
Guardhouse Metal Roof - Replace
$0
$0
$0
$0
$0
Total Expenses
$597,558
$3,270
$4,669
$0
$118,822
Ending Reserve Balance:
$298,618
$407,643
$519,909
$641,664
$649,010
Association Reserves
22
10/4/2011
9999-0
Sample
HOA
Table 5: 30-Year Income/Expense Detail (yrs 20 through 24)
Fiscal Year
2032
2033
2034
2035
2036
Starting Reserve Balance
$649,010
$670,440
$800,701
$937,482
$1,019,789
Annual Reserve Contribution
$123,609
$126,699
$129,866
$133,113
$136,441
$0
$0
$0
$0
$0
$6,594
$7,353
$8,687
$9,782
$10,822
$779,213
$804,492
$939,255
$1,080,378
$1,167,052
Planned Special Assessments
Interest Earnings
Total Income
#
Component
Sample HOA - Streets & Grounds
200
Asphalt - Mill & Overlay
202
Asphalt - Seal/Repair
$0
$0
$0
$0
$0
$42,037
$0
$0
$0
207
$0
Brick Pavers - Replace
$0
$0
$0
$0
$0
505
Split Rail Fences (Lg) - Replace
$0
$0
$0
$0
$0
505
Split Rail Fences (Sm) - Replace
$0
$0
$0
$0
$0
704
Bar Code Sensors - Replace
$0
$0
$0
$0
$0
704
Intercoms - Replace
$0
$0
$0
$0
$0
705
Barrier Arm Openers - Replace
1109
Wood Fence - Repaint
1402
Roadway Signage - Replace
$0
$0
$0
$0
$0
$21,673
$0
$0
$0
$0
$0
$0
$0
$0
$0
Sample HOA - Amenities
107
Pool Decks - Re-coat
$0
$0
$0
$0
$21,446
108
Pool Decks - Resurface/Repl.
$0
$0
$0
$0
$0
323
Tennis Court Lights - Replace
$0
$0
$0
$0
$0
324
Pool Area Lights - Replace
$0
$0
$0
$0
$0
404
Park/Picnic Furniture - Replace
$0
$0
$0
$0
$0
404
Pool Furniture - Replace
$0
$0
$0
$48,254
$0
405
Play Structure - Replace
$0
$0
$0
$0
$0
412
Playground Surface - Replenish
$0
$3,790
$0
$0
$0
Pool Area Fence - Replace
$0
$0
$0
$0
$0
1202
Lap Pool - Resurface
$0
$0
$0
$0
$0
1202
Main Pool - Resurface
$0
$0
$0
$0
$0
1207
Lap Pool Filters - Replace
$0
$0
$0
$8,585
$0
1207
Main Pool Filter - Replace
$0
$0
$0
$0
$0
1210
Lap Pool Pump - Replace
$0
$0
$0
$0
$0
1210
Main Pool Pump - Replace
$0
$0
$0
$0
$0
1216
Swim Lane Dividers - Replace
$0
$0
$0
$3,750
$0
1604
Tennis Courts - Resurface
$12,101
$0
$0
$0
$0
1605
Tennis Windscreen - Replace (New)
$0
$0
$1,772
$0
$0
1605
Tennis Windscreen - Replace (Old)
$1,671
$0
$0
$0
$0
1606
Sports Courts/Equipment - Replace
$0
$0
$0
$0
$0
1616
Tennis Chain Link Fence - Replace
$0
$0
$0
$0
$0
503
Sample HOA - Buildings
303
Clubhouse HVAC - Replace
$0
$0
$0
$0
$0
303
Fitness Room HVAC - Replace
$0
$0
$0
$0
$0
Association Reserves
23
10/4/2011
9999-0
Sample
HOA
Table 5: 30-Year Income/Expense Detail (yrs 20 through 24)
Fiscal Year
2032
2033
2034
2035
2036
303
Guardhouse HVAC - Replace
$0
$0
$0
$0
$0
406
Drinking Fountains - Replace
$0
$0
$0
$0
$0
902
Exercise Equipment - Replace
$0
$0
$0
$0
$0
904
Clubhouse Kitchen - Refurbish
$0
$0
$0
$0
$0
904
Pavilion Kitchen - Refurbish
$0
$0
$0
$0
$0
909
Clubhouse Bathrooms - Refurbish
$0
$0
$0
$0
$0
909
Pavilion Bathrooms - Refurbish
$0
$0
$0
$0
$0
910
Clubhouse Fitness Room - Remodel
$0
$0
$0
$0
$0
910
Clubhouse Furnishings - Replace
$0
$0
$0
$0
$0
910
Clubhouse Interior - Refinish
$0
$0
$0
$0
$0
910
Guardhouse Interior - Remodel
$0
$0
$0
$0
$0
1128
Fiber Cement Siding - Replace
$0
$0
$0
$0
$0
1129
Fiber Cement Siding - Repaint
$0
$0
$0
$0
$0
1303
Comp Shingle Roof - Replace
$31,291
$0
$0
$0
$0
1309
Guardhouse Metal Roof - Replace
$0
$0
$0
$0
$0
Total Expenses
$108,773
$3,790
$1,772
$60,589
$21,446
Ending Reserve Balance:
$670,440
$800,701
$937,482
$1,019,789
$1,145,606
Association Reserves
24
10/4/2011
9999-0
Sample
HOA
Table 5: 30-Year Income/Expense Detail (yrs 25 through 29)
Fiscal Year
Starting Reserve Balance
Annual Reserve Contribution
Planned Special Assessments
Interest Earnings
Total Income
#
2037
2038
2039
2040
2041
$1,145,606
$774,357
$921,788
$973,737
$1,134,881
$139,852
$143,348
$146,932
$150,605
$154,370
$0
$0
$0
$0
$0
$9,596
$8,477
$9,474
$10,539
$11,092
$1,295,053
$926,182
$1,078,193
$1,134,881
$1,300,343
Component
Sample HOA - Streets & Grounds
200
Asphalt - Mill & Overlay
202
Asphalt - Seal/Repair
$0
$0
$0
$0
$0
$48,733
$0
$0
$0
207
$0
Brick Pavers - Replace
$0
$0
$0
$0
$0
505
Split Rail Fences (Lg) - Replace
$0
$0
$0
$0
$0
505
Split Rail Fences (Sm) - Replace
$0
$0
$0
$0
$0
704
Bar Code Sensors - Replace
$0
$0
$36,873
$0
$0
704
Intercoms - Replace
$0
$0
$26,655
$0
$0
705
Barrier Arm Openers - Replace
$83,751
$0
$0
$0
$0
1109
Wood Fence - Repaint
$25,125
$0
$0
$0
$0
1402
Roadway Signage - Replace
$0
$0
$0
$0
$0
Sample HOA - Amenities
107
Pool Decks - Re-coat
$0
$0
$0
$0
$24,862
108
Pool Decks - Resurface/Repl.
$0
$0
$0
$0
$141,983
323
Tennis Court Lights - Replace
$0
$0
$0
$0
$0
324
Pool Area Lights - Replace
$0
$0
$0
$0
$0
404
Park/Picnic Furniture - Replace
$44,493
$0
$0
$0
$0
404
Pool Furniture - Replace
$0
$0
$0
$0
$0
405
Play Structure - Replace
$52,344
$0
$0
$0
$0
412
Playground Surface - Replenish
$0
$4,394
$0
$0
$0
503
Pool Area Fence - Replace
$42,713
$0
$0
$0
$0
$0
$0
$0
$0
$38,176
1202
Lap Pool - Resurface
1202
Main Pool - Resurface
$18,713
$0
$0
$0
$0
1207
Lap Pool Filters - Replace
$0
$0
$0
$0
$0
1207
Main Pool Filter - Replace
$0
$0
$0
$0
$0
1210
Lap Pool Pump - Replace
$0
$0
$0
$0
$6,363
1210
Main Pool Pump - Replace
$2,356
$0
$0
$0
$0
1216
Swim Lane Dividers - Replace
$0
$0
$0
$0
$4,477
1604
Tennis Courts - Resurface
$14,028
$0
$0
$0
$0
1605
Tennis Windscreen - Replace (New)
$0
$0
$2,055
$0
$0
1605
Tennis Windscreen - Replace (Old)
$1,937
$0
$0
$0
$0
1606
Sports Courts/Equipment - Replace
$0
$0
$6,109
$0
$0
1616
Tennis Chain Link Fence - Replace
$34,547
$0
$0
$0
$0
Sample HOA - Buildings
303
Clubhouse HVAC - Replace
$0
$0
$0
$0
$0
303
Fitness Room HVAC - Replace
$0
$0
$0
$0
$0
Association Reserves
25
10/4/2011
9999-0
Sample
HOA
Table 5: 30-Year Income/Expense Detail (yrs 25 through 29)
Fiscal Year
2037
2038
2039
2040
2041
303
Guardhouse HVAC - Replace
$7,328
$0
$0
$0
$0
406
Drinking Fountains - Replace
$0
$0
$0
$0
$0
902
Exercise Equipment - Replace
$25,125
$0
$0
$0
$0
904
Clubhouse Kitchen - Refurbish
$0
$0
$18,326
$0
$0
904
Pavilion Kitchen - Refurbish
$0
$0
$14,438
$0
$0
909
Clubhouse Bathrooms - Refurbish
$12,563
$0
$0
$0
$0
909
Pavilion Bathrooms - Refurbish
$5,758
$0
$0
$0
$0
910
Clubhouse Fitness Room - Remodel
$2,617
$0
$0
$0
$0
910
Clubhouse Furnishings - Replace
$35,594
$0
$0
$0
$0
910
Clubhouse Interior - Refinish
$9,422
$0
$0
$0
$0
910
Guardhouse Interior - Remodel
$4,711
$0
$0
$0
$0
1128
Fiber Cement Siding - Replace
$0
$0
$0
$0
$0
1129
Fiber Cement Siding - Repaint
$22,927
$0
$0
$0
$0
1303
Comp Shingle Roof - Replace
$0
$0
$0
$0
$0
1309
Guardhouse Metal Roof - Replace
$25,911
$0
$0
$0
$0
Total Expenses
$520,696
$4,394
$104,456
$0
$215,861
Ending Reserve Balance:
$774,357
$921,788
$973,737
$1,134,881
$1,084,482
Association Reserves
26
10/4/2011
Assoc. 9999-0 Sample HOA
Accuracy, Limitations, and Disclosures
Because we have no control over future events, we cannot claim that all the events we
anticipate will occur as planned. We expect that inflationary trends will continue, and
we expect that financial institutions will provide interest earnings on funds on-deposit.
We believe that reasonable estimates for these figures are much more accurate than
ignoring these economic realities. The things we can control are measurements, which
we attempt to establish within 5% accuracy. Your starting Reserve Balance and current
Reserve interest earnings are also numbers that can be identified with a high degree of
certainty. These figures have been provided to us, and were not confirmed by our
independent research. Our projections assume a stable economic environment and
lack of natural disasters.
Because both the physical status and financial status of the association change each
year, this Reserve Study is by nature a “one-year” document. This information can and
should be adjusted annually as part of the Reserve Study Update process so that more
accurate estimates can be reflected in the Reserve plan. Reality often differs from even
the best assumptions due to changing economic factors, physical factors, or ownership
expectations. Because many years of financial preparation help the preparation for
large expenses, this Report shows expenses for the next 30 years. We fully expect a
number of adjustments will be necessary through the interim years to both the cost and
timing of distant expense projections. It is our recommendation and that of the
American Institute of Certified Public Accountants (AICPA) that your Reserve Study be
updated annually.
Association Reserves – Florida, LLC and its employees have no ownership,
management, or other business relationships with the client other than this Reserve
Study engagement. William G. Simons, RS is a credentialed Reserve Specialist (#190).
All work done by Association Reserves – Florida, LLC is performed under his
Responsible Charge. There are no material issues to our knowledge that have not been
disclosed to the client that would cause a distortion of the association’s situation.
We have relied upon the client to provide the current (or projected) Reserve Balance,
the estimated net-after-tax current rate of interest earnings, and to indicate if those
earnings accrue to the Reserve Fund. In addition, we have considered the
association’s representation of current and historical Reserve projects reliable, and we
have considered the representations made by its vendors and suppliers to also be
accurate and reliable.
Component quantities indicated in this Report were developed by Association Reserves
unless otherwise noted in our “Site Inspection Notes” comments. No destructive or
intrusive testing was performed, nor should the site inspection be assumed to be
anything other than for budget purposes.
Association Reserves
27
10/4/2011
Assoc. 9999-0 Sample HOA
Terms and Definitions
BTU
DIA
GSF
GSY
HP
LF
British Thermal Unit (a standard unit of energy)
Diameter
Gross Square Feet (area)
Gross Square Yards (area)
Horsepower
Linear Feet (length)
Effective Age: The difference between Useful Life and Remaining Useful Life. Note
that this is not necessarily equivalent to the chronological age of the
component.
Fully Funded Balance (FFB): The Reserve Balance that is in direct proportion to the
fraction of life “used up” of the current Repair or Replacement cost. This
benchmark balance represents the value of the deterioration of the
Reserve Components. This number is calculated for each component,
then summed together for an association total.
FFB = (Current Cost X Effective Age) / Useful Life
Inflation:
Cost factors are adjusted for inflation at the rate defined in the
Executive Summary and compounded annually. These increasing
costs can be seen as you follow the recurring cycles of a component on
Table 5.
Interest:
Interest earnings on Reserve Funds are calculated using the average
balance for the year (taking into account income and expenses through
the year) and compounded monthly using the rate defined in the
Executive Summary. Annual interest earning assumption appears in the
Executive Summary, page ii.
Percent Funded: The ratio, at a particular point in time (typically the beginning of the
Fiscal Year), of the actual (or projected) Reserve Balance to the Fully
Funded Balance, expressed as a percentage.
Remaining Useful Life: The estimated time, in years, that a common area component
can be expected to continue to serve its intended function.
Useful Life:
The estimated time, in years, that a common area component can be
expected to serve its intended function.
Association Reserves
28
10/4/2011
Assoc. 9999-0 Sample HOA
Photographic Inventory Appendix
Association Reserves
29
10/4/2011
Association Reserves
Inventory Appendix
Client: 9999CA Sample HOA - Grounds/Misc.
Comp #:
103 Concrete Sidewalks/Curbs - Repair
Quantity: Extensive GSF
Location: Throughout development
Evaluation: Concrete walkways should not be life limited under normal circumstances. Cracks and trip hazards should be
repaired as needed, but maintenance is likely to be minimal and infrequent. No need for Reserve funding at this
time.
Useful Life:
Remaining Life:
Best Case:
Worst Case:
Cost Source:
Comp #:
200 Asphalt - Mill & Overlay
Quantity: Approx 21,150 GSY
Location: Main St. and misc common area roads
Evaluation: An mill & overlay is an asphalt procedure that mills the existing road surface and relays it in place, restoring a
smooth, consistent surface. Asphalt is in good condition and should reach a full useful life if properly maintained.
Useful Life:
20 years
Remaining Life:
15 years
Best Case: $148,050.00
Worst Case: $190,350.00
$7.00/GSY; Lower estimate to mill & overlay
$9.00/GSY; Higher estimate
Cost Source: AR Cost Database
October 04,2011
Page 1 of 6
Association Reserves
Inventory Appendix
Client: 9999CA Sample HOA - Grounds/Misc.
Comp #:
202 Asphalt - Seal/Repair
Quantity: Approx 21,150 GSY
Location: Main St. and misc common area roads
Evaluation: Asphalt should be sealed regularly to ensure a full useful life. Sealing at regular intervals restores the
appearance and minimizes penetration of water and other surface contaminants. Seal coating is essential
preventive maintenance and should not be deferred. Does not appear to have been done since initial
construction. Faded, inconsistent color and somewhat rough texture in some high-traffic areas. Should be sealed
in the near future as a preventive maintenance project.
Useful Life:
5 years
Remaining Life:
0 years
Best Case: $21,150.00
Worst Case: $25,400.00
$1.00/GSY; Lower estimate to seal/repair
$1.20/GSY; Higher estimate
Cost Source: AR Cost Database
Comp #:
207 Brick Pavers - Replace
Quantity: Approx 3,425 GSF
Location: Trim sections of association roads
Evaluation: The brick sections are in good condition and could have an indefinite useful life. Funding here to replace along
with the asphalt during second mill & overlay project.
Useful Life:
40 years
Remaining Life:
35 years
Best Case: $54,800.00
Worst Case: $68,500.00
$16.00/GSF; Lower estimate to replace
$20.00/GSF; Higher estimate
Cost Source: AR Cost Database
October 04,2011
Page 2 of 6
Association Reserves
Inventory Appendix
Client: 9999CA Sample HOA - Grounds/Misc.
Comp #:
320 Pole Lights - Replace
Quantity: Approx (58) Lights
Location: Along Main St.
Evaluation: (45) single and (13) double head fixtures counted during inspection. Nice, above average quality. Useful life
should be very long under normal circumstances. No damaged or missing heads noted. All in good condition.
Lights are reportedly leased, not owned, by the association, so there should be no need for Reserve funding for
replacement.
Useful Life:
Remaining Life:
Best Case:
Worst Case:
Cost Source:
Comp #:
505 Split Rail Fences (Lg) - Replace
Quantity: Approx 510 LF
Location: Adjacent to monument signs
Evaluation: This component represents the 2- and 3-rail fences concentrated around the entry areas to the sub-associations.
Plank widths are roughly 5.5" and 8.5". Some staining weathering noted. Minor cracking developing in some
areas, especially those with more sun exposure.
Useful Life:
20 years
Remaining Life:
15 years
Best Case: $8,200.00
Worst Case: $10,200.00
$16/LF; Lower estimate to replace
$20/LF; Higher estimate
Cost Source: AR Cost Database
October 04,2011
Page 3 of 6
Association Reserves
Inventory Appendix
Client: 9999CA Sample HOA - Grounds/Misc.
Comp #:
505 Split Rail Fences (Sm) - Replace
Quantity: Approx 2,975 LF
Location: Along Main St.
Evaluation: This component represents the 2-rail fences along Main St. Property manager reports that these areas may be
replaced at some point with vinyl or some type of composite material that requires less maintenance. As plans
are undefined at this time, funding recommendation shown here plans for replacement with another natural wood
fence.
Useful Life:
20 years
Remaining Life:
15 years
Best Case: $35,700.00
Worst Case: $44,625.00
$12.00/LF; Lower estimate to replace
$15.00/LF; Higher estimate
Cost Source: AR Cost Database
Comp #:
704 Bar Code Sensors - Replace
Quantity: (2) Systems
Location: At each entry to Main St.
Evaluation: BAI (Barcode Automation, Inc) sensors are observed to be functional. No problems reported by manager. Model
number BA-200. Expect to coordinate replacement with other gate area components, such as barrier arms.
Useful Life:
8 years
Remaining Life:
3 years
Best Case: $15,000.00
Worst Case: $18,200.00
$7,500/EA; Lower estimate to replace
$9,100/EA; Higher estimate
Cost Source: Research with Local Vendor/Contractor
October 04,2011
Page 4 of 6
Association Reserves
Inventory Appendix
Client: 9999CA Sample HOA - Grounds/Misc.
Comp #:
704 Intercoms - Replace
Quantity: (2) DKS Units
Location: At each entry to Main St.
Evaluation: Higher-end models with digital displays. Good condition, no problems observed or reported. Exposed location
could limit useful life.
Useful Life:
8 years
Remaining Life:
3 years
Best Case: $10,800.00
Worst Case: $13,200.00
$5,400/EA; Lower estimate to replace
$6,600/EA; Higher estimate
Cost Source: Research with Local Vendor/Contractor
Comp #:
705 Barrier Arm Openers - Replace
Quantity: (8) Units
Location: At each entry to Main St.
Evaluation: Magnetic Auto Control model number M1B40. All observed to be functional. No problems observed or reported.
Useful life may be shorter due to exposed location and high traffic at entrance areas.
Useful Life:
10 years
Remaining Life:
5 years
Best Case: $36,000.00
Worst Case: $44,000.00
$4,500/EA; Lower estimate to replace
$5,500/EA; Higher estimate
Cost Source: Research with Local Vendor/Contractor
October 04,2011
Page 5 of 6
Association Reserves
Inventory Appendix
Client: 9999CA Sample HOA - Grounds/Misc.
Comp #:
1109 Wood Fence - Repaint
Quantity: Approx 23,975 GSF
Location: Adjacent to streets and monument signs
Evaluation: Most areas show moderate to heavy fading and wear. Some weathering and cracking noted. Painting on a
regular interval will help protect the wood, restore aesthetic appeal, and prolong the need to replace fencing.
Fences have not been painted up to this point.
Useful Life:
5 years
Remaining Life:
0 years
Best Case: $10,800.00
Worst Case: $13,200.00
$0.45/GSF; Lower estimate to repaint
$0.55/GSF; Higher estimate
Cost Source: AR Cost Database
Comp #:
1402 Roadway Signage - Replace
Quantity: Approx (62) Signs
Location: Throughout common roadways
Evaluation: Approximately (12) speed limit, (14) wrong way/stop, (14) directional, (16) small miscellaneous, and (6) medium
miscellaneous signs. Expect to coordinate replacement with the community signs to maintain uniform style.
Useful Life:
18 years
Remaining Life:
13 years
Best Case: $6,825.00
Worst Case: $9,300.00
$110/EA; Lower estimate to replace
$150/EA; Higher estimate
Cost Source: AR Cost Database
October 04,2011
Page 6 of 6
Association Reserves
Inventory Appendix
Client: 9999CB Sample HOA - Amenities
Comp #:
107 Pool Decks - Re-coat
Quantity: Approx 6,025 GSF
Location: Pool decking
Evaluation: Decking membrane needs to be re-coated at regular intervals as a preventive maintenance project. Lack of
proper coating can lead to cracking, bubbling and deterioration. If decking is re-coated regularly, there should be
no need for a complete replacement. All areas appear to have been re-coated when lap pool was installed in
2010.
Useful Life:
5 years
Remaining Life:
4 years
Best Case: $9,050.00
Worst Case: $12,050.00
$1.50/GSF; Lower estimate to re-coat
$2.00/GSF; Higher estimate
Cost Source: AR Cost Database
Comp #:
108 Pool Decks - Resurface/Repl.
Quantity: Approx 6,025 GSF
Location: Pool decking
Evaluation: Lack of preventive maintenance can lead to failure of the decking surface. Cracking and deterioration can allow
water to penetrate the structure of the property, leading to costly repairs. If properly maintained, the deck can last
indefinitely. No cracks or wear noted. Like-new condition.
Useful Life:
30 years
Remaining Life:
29 years
Best Case: $54,225.00
Worst Case: $66,275.00
$9.00/GSF; Lower estimate to resurface
$11.00/GSF; Higher estimate
Cost Source: AR Cost Database
October 04,2011
Page 1 of 12
Association Reserves
Inventory Appendix
Client: 9999CB Sample HOA - Amenities
Comp #:
323 Tennis Court Lights - Replace
Quantity: (6) Single, (3) Double
Location: Tennis courts
Evaluation: Standard type, all assumed to be functional. No visible damage or excessive wear. No problems reported.
Should have a long useful life if properly maintained. Vendor recommends that an annual service/maintenance
plan be enacted if not already. This preventive maintenance will help identify any loose fixtures, remove debris
buildup, check for problems, etc. Cost for maintenance should be included in the Operating budget; only funding
for replacement of ballasts and fixtures here.
Useful Life:
20 years
Remaining Life:
15 years
Best Case: $5,000.00
Worst Case: $6,000.00
Lower estimate to replace ballasts and fixtures
Higher estimate
Cost Source: Research with Local Vendor/Contractor
Comp #:
324 Pool Area Lights - Replace
Quantity: (11) Circular, (4) Pole
Location: Pool area
Evaluation: Small circular lights mounted on perimeter fence. All assumed to be functional. Fairly generic style. The pole
lights are newer and assumed to be functional. Coordinate replacement of all together to maintain uniform
appearance.
Useful Life:
20 years
Remaining Life:
19 years
Best Case: $7,400.00
Worst Case: $9,025.00
Lower estimate to replace
Higher estimate
Cost Source: AR Cost Database
October 04,2011
Page 2 of 12
Association Reserves
Inventory Appendix
Client: 9999CB Sample HOA - Amenities
Comp #:
404 Park/Picnic Furniture - Replace
Quantity: (32) Tables, (6) Chairs
Location: Exterior common areas at clubhouse, pavilion
Evaluation: Wood pieces are in fair condition, but constant weather and sun exposure will lead to frequent replacements. All
should be coordinated together to maintain uniform style.
Useful Life:
10 years
Remaining Life:
5 years
Best Case: $16,300.00
Worst Case: $26,200.00
Lower estimate to replace
Higher estimate
Cost Source: AR Cost Database
Comp #:
404 Pool Furniture - Replace
Quantity: (104) Pieces
Location: Pool decks
Evaluation: (48) lounges, (28) plastic chairs, (5) tables, (5) umbrellas, (10) drink tables, (8) wood rocking chairs. All in
fair/good condition. Periodic replacements will help maintain high standards in this key amenity area. Lap pool
furniture is new as of 2010, but all have been grouped together here to show good conditions overall.
Useful Life:
8 years
Remaining Life:
7 years
Best Case: $20,850.00
Worst Case: $28,050.00
Lower estimate to replace
Higher estimate
Cost Source: AR Cost Database
October 04,2011
Page 3 of 12
Association Reserves
Inventory Appendix
Client: 9999CB Sample HOA - Amenities
Comp #:
405 Play Structure - Replace
Quantity: (1) Lg Wood Structure
Location: Playground, adjacent to clubhouse
Evaluation: Large wood structure features swings, slide, tower and multiple ladders/ramps. Worn and weathered in spots,
with some minor vandalism. No obvious safety issues noted. Intact and stable, but will not last as long as a
plastic or vinyl alternative.
Useful Life:
15 years
Remaining Life:
10 years
Best Case: $20,000.00
Worst Case: $30,000.00
Lower estimate to replace
Higher estimate
Cost Source: AR Cost Database
Comp #:
407 BBQs/Firepits - Replace
Quantity: (5) Fixtures
Location: Park area adjacent to pavilion
Evaluation: No moving parts or expensive pieces to replace. (3) cooking stands, (1) metal firepit, and (1) fireplace at pavilion.
Maintain as needed using Operating funds; costs should not meet minimum threshold for Reserve funding.
Useful Life:
Remaining Life:
Best Case:
Worst Case:
Cost Source:
October 04,2011
Page 4 of 12
Association Reserves
Inventory Appendix
Client: 9999CB Sample HOA - Amenities
Comp #:
412 Playground Surface - Replenish
Quantity: Approx 1,350 GSF
Location: Playground, adjacent to clubhouse
Evaluation: Wood chips over dirt base. Some thin patches noted. Expect to replenish periodically to maintain a good cushion
and attractive appearance.
Useful Life:
5 years
Remaining Life:
1 years
Best Case: $1,700.00
Worst Case: $2,375.00
$1.25/GSF; Lower estimate to replenish
$1.75/GSF; Higher estimate
Cost Source: AR Cost Database
Comp #:
503 Pool Area Fence - Replace
Quantity: Approx 510 LF
Location: Pool perimeter
Evaluation: 4' tall aluminum fence, with no significant surface wear or damaged areas noted. Generic design, good overall
condition.
Useful Life:
30 years
Remaining Life:
25 years
Best Case: $17,850.00
Worst Case: $22,950.00
$35/LF; Lower estimate to replace
$45/LF; Higher estimate
Cost Source: AR Cost Database
October 04,2011
Page 5 of 12
Association Reserves
Inventory Appendix
Client: 9999CB Sample HOA - Amenities
Comp #:
1202 Lap Pool - Resurface
Quantity: Approx 75'x36'
Location: Lap pool, adjacent to clubhouse
Evaluation: Construction of this pool was completed in 2010. Like new condition noted during inspection. No stains or
surface wear. Key common area component which should be maintained to a high standard.
Useful Life:
10 years
Remaining Life:
9 years
Best Case: $14,300.00
Worst Case: $18,100.00
Lower estimate to resurface
Higher estimate
Cost Source: Research with Local Vendor/Contractor
Comp #:
1202 Main Pool - Resurface
Quantity: Approx 60'x30'
Location: Main pool, adjacent to clubhouse
Evaluation: Large pool, key common area amenity. Only some mild stains noted. Good condition overall. Aging normally at
this time.
Useful Life:
10 years
Remaining Life:
5 years
Best Case: $7,900.00
Worst Case: $9,975.00
Lower estimate to resurface
Higher estimate
Cost Source: Research with Local Vendor/Contractor
October 04,2011
Page 6 of 12
Association Reserves
Inventory Appendix
Client: 9999CB Sample HOA - Amenities
Comp #:
1207 Lap Pool Filters - Replace
Quantity: (3) Sand Filters
Location: Equipment shed adjacent to pool
Evaluation: All of the lap pool filters are newer Triton II Commercial sand filters. Protected location inside
maintenance/equipment shed. All believed to be functional at this time.
Useful Life:
12 years
Remaining Life:
11 years
Best Case: $3,900.00
Worst Case: $4,800.00
$1,300/EA; Lower estimate to replace
$1,600/EA; Higher estimate
Cost Source: Research with Local Vendor/Contractor
Comp #:
1207 Main Pool Filter - Replace
Quantity: (1) Sand Filter
Location: Pool equipment room at clubhouse
Evaluation: Triton II Sand Filter; appears to be original. Protected interior location should help maximize useful life. No leaks
or deposit buildup noted.
Useful Life:
12 years
Remaining Life:
7 years
Best Case: $1,300.00
Worst Case: $1,600.00
Lower estimate to replace
Higher estimate
Cost Source: Research with Local Vendor/Contractor
October 04,2011
Page 7 of 12
Association Reserves
Inventory Appendix
Client: 9999CB Sample HOA - Amenities
Comp #:
1210 Lap Pool Pump - Replace
Quantity: (1) 5 HP Pump
Location: Equipment shed adjacent to pool
Evaluation: Pump appears to be functional. New as of 2010, no rust or unusual conditions noted. Protected location should
help maximize useful life. Motor should be replaced as needed using Operating funds.
Useful Life:
15 years
Remaining Life:
14 years
Best Case: $2,400.00
Worst Case: $3,000.00
Lower estimate to replace
Higher estimate
Cost Source: Research with Local Vendor/Contractor
Comp #:
1210 Main Pool Pump - Replace
Quantity: (1) 3 HP Pump
Location: Pool equipment room at clubhouse
Evaluation: Protected location, no signs of unusual age or wear. No rust noted. Good, functional condition. Motor should be
replaced as needed using Operating funds.
Useful Life:
15 years
Remaining Life:
10 years
Best Case: $1,000.00
Worst Case: $1,250.00
Lower estimate to replace
Higher estimate
Cost Source: Research with Local Vendor/Contractor
October 04,2011
Page 8 of 12
Association Reserves
Inventory Appendix
Client: 9999CB Sample HOA - Amenities
Comp #:
1216 Swim Lane Dividers - Replace
Quantity: (4) Lines
Location: Lap pool
Evaluation: Lane dividers are new and are expected to receive major sun and weather exposure throughout the year. No
cracked or loose sections noted.
Useful Life:
6 years
Remaining Life:
5 years
Best Case: $1,600.00
Worst Case: $2,200.00
$400/EA; Lower estimate to replace
$550/EA; Higher estimate
Cost Source: Research with Local Vendor/Contractor
Comp #:
1604 Tennis Courts - Resurface
Quantity: (2) Courts
Location: Adjacent to clubhouse
Evaluation: Total surface area approximately 120'x108'. Some stains and divots, but still smooth and attractive for the most
part. Key aesthetic asset in the common area which should be maintained to a high standard. Vendor sent a bid
for resurfacing in 2010, expected to be required soon.
Useful Life:
5 years
Remaining Life:
0 years
Best Case: $6,100.00
Worst Case: $7,300.00
Lower estimate to resurface
Higher estimate
Cost Source: Research with Local Vendor/Contractor
October 04,2011
Page 9 of 12
Association Reserves
Inventory Appendix
Client: 9999CB Sample HOA - Amenities
Comp #:
1605 Tennis Windscreen - Replace (New)
Quantity: Approx 660 GSF
Location: Parking lot side of tennis court
Evaluation: This component refers to the screen on the parking lot side, which is reportedly newer and in observed to be in
good condition. Should last a few more years before replacement is required.
Useful Life:
5 years
Remaining Life:
2 years
Best Case: $725.00
Worst Case: $1,125.00
Lower estimate to replace
Higher estimate
Cost Source: Research with Local Vendor/Contractor
Comp #:
1605 Tennis Windscreen - Replace (Old)
Quantity: Approx 660 GSF
Location: Playground/pavilion side of tennis court
Evaluation: Some rips and tears noted. Vendor issued a bid for replacement recently. Replacement costs vary based on logo
design, with highest cost for a hand-painted sign like the one they have currently.
Useful Life:
5 years
Remaining Life:
0 years
Best Case: $725.00
Worst Case: $1,125.00
Lower estimate to replace
Higher estimate
Cost Source: Research with Local Vendor/Contractor
October 04,2011
Page 10 of 12
Association Reserves
Inventory Appendix
Client: 9999CB Sample HOA - Amenities
Comp #:
1606 Sports Courts/Equipment - Replace
Quantity: Numerous Items
Location: Baseball field, volleyball court, etc
Evaluation: Sports equipment includes (1) chain link baseball backstop, (2) full-size soccer goals, (1) 1/2 court concrete
basketball court (approx 54'x48'), (1) basketball goal, (1) handball wall (approx 40'x10'), (2) horseshoe pits, (2)
bocce ball pits, and (1) sand volleyball court. Generally, all assets will either have an unpredictable remaining life
or a replacement cost below the threshold for Reserve funding. To provide for periodic projects and
replacements, we recommend an allowance for partial upgrades.
Useful Life:
8 years
Remaining Life:
3 years
Best Case: $2,500.00
Worst Case: $3,000.00
Lower allowance for new items/repairs
Higher allowance
Cost Source: AR Cost Database
Comp #:
1616 Tennis Chain Link Fence - Replace
Quantity: Approx 420 LF
Location: Perimeter of tennis courts
Evaluation: 10' high chain link fence (vinyl-coated). Good condition; no significant wear or damage. Protective coating should
protect fence from the elements and prolong useful life.
Useful Life:
15 years
Remaining Life:
10 years
Best Case: $15,000.00
Worst Case: $18,000.00
Lower estimate to replace
Higher estimate
Cost Source: Research with Local Vendor/Contractor
October 04,2011
Page 11 of 12
Association Reserves
Inventory Appendix
Client: 9999CB Sample HOA - Amenities
Comp #:
1617 Tennis Court Nets - Replace
Quantity: (2) Nets
Location: Tennis courts
Evaluation: Vendor reports that nets should be replaced in the near future, and has already sent a bid to the management
company. However, replacement cost (expected to be under $500, including installation) does not meet
minimum threshold for Reserve funding. Should be handled as an Operating expense.
Useful Life:
Remaining Life:
Best Case:
Worst Case:
Cost Source:
October 04,2011
Page 12 of 12
Association Reserves
Inventory Appendix
Client: 9999CC Sample HOA - Buildings
Comp #:
303 Clubhouse HVAC - Replace
Quantity: (1) 5-Ton System
Location: Adjacent to clubhouse
Evaluation: Trane system. Outdoor compressor model number 2TTA3060A3000AA.No problems reported, believed to be in
good, functional condition. Useful life will be affected by level of clubhouse use, which is expected to be high. No
unusual signs of wear or age.
Useful Life:
20 years
Remaining Life:
15 years
Best Case: $5,000.00
Worst Case: $7,000.00
Lower estimate to replace
Higher estimate
Cost Source: AR Cost Database
Comp #:
303 Fitness Room HVAC - Replace
Quantity: (1) Small System
Location: Fitness room wall-unit, condensor at exterior
Evaluation: Samsung system is dedicated for the gym only. Condenser model number UQ30C2BC. Observed to be
functional and effective. Aging normally, expect to coordinate replacement with the main building HVAC for better
pricing.
Useful Life:
20 years
Remaining Life:
15 years
Best Case: $2,500.00
Worst Case: $3,000.00
Lower estimate to replace
Higher estimate
Cost Source: AR Cost Database
October 04,2011
Page 1 of 9
Association Reserves
Inventory Appendix
Client: 9999CC Sample HOA - Buildings
Comp #:
303 Guardhouse HVAC - Replace
Quantity: (1) 1.5 Ton System
Location: Guardhouse
Evaluation: Tempstar unit at exterior- model number NHP018AKCZ, serial number E042017487. This unit is original and will
receive daily use. Useful life expected to be shorter than the others due to level of use. Functional at this time.
Useful Life:
15 years
Remaining Life:
10 years
Best Case: $3,000.00
Worst Case: $4,000.00
Lower estimate to replace
Higher estimate
Cost Source: AR Cost Database
Comp #:
406 Drinking Fountains - Replace
Quantity: (3) Fountains
Location: Pool area, pavilion
Evaluation: Wall-mounted fountains are functional but exposed to the elements. No rust, leaks, or mechanical problems
noted during inspection.
Useful Life:
18 years
Remaining Life:
13 years
Best Case: $5,400.00
Worst Case: $6,600.00
$1,800/EA; Lower estimate to replace
$2,200/EA; Higher estimate
Cost Source: AR Cost Database
October 04,2011
Page 2 of 9
Association Reserves
Inventory Appendix
Client: 9999CC Sample HOA - Buildings
Comp #:
902 Exercise Equipment - Replace
Quantity: (3) Large Pieces
Location: Fitness room at clubhouse
Evaluation: (1) multi-station, (1) treadmill, (1) recliner bike. All newer/modern pieces in good, serviceable condition. No
vandalism or heavy signs of wear noted. Should have a fairly long useful life, but plan to replace periodically with
more modern equipment.
Useful Life:
15 years
Remaining Life:
10 years
Best Case: $9,000.00
Worst Case: $15,000.00
$3,000/EA; Lower estimate to replace
$5,000/EA; Higher estimate
Cost Source: AR Cost Database
Comp #:
904 Clubhouse Kitchen - Refurbish
Quantity: Numerous Items
Location: Kitchen area at clubhouse
Evaluation: (1) electric oven with cook top, hood vent, (1) microwave, (1) under-counter refrigerator, (1) standard refrigerator,
(1) double-sink. Approximately 36 GSF wood countertops, 15 LF upper cabinets (wood). Modern, medium-grade
appliances in good condition. No damaged or vandalized items noted. Aging normally overall. Funding here to
replace appliances, upgrade finishes, and make other small improvements as needed.
Useful Life:
16 years
Remaining Life:
11 years
Best Case: $7,000.00
Worst Case: $9,500.00
Lower allowance to refurbish
Higher allowance
Cost Source: AR Cost Database
October 04,2011
Page 3 of 9
Association Reserves
Inventory Appendix
Client: 9999CC Sample HOA - Buildings
Comp #:
904 Pavilion Kitchen - Refurbish
Quantity: Numerous Items
Location: Pavilion kitchen
Evaluation: (1) electric oven with cook top, (1) refrigerator, (1) double sink. Approximately 44 GSF synthetic countertop, (18)
LF upper cabinets, (13) LF lower cabinets. (2) ceiling lights. Good conditions; more basic design than clubhouse
kitchen. Expect to coordinate refurbishment with the clubhouse kitchen for better pricing.
Useful Life:
16 years
Remaining Life:
11 years
Best Case: $5,000.00
Worst Case: $8,000.00
Lower allowance to refurbish
Higher allowance
Cost Source: AR Cost Database
Comp #:
909 Clubhouse Bathrooms - Refurbish
Quantity: (2) Bathrooms
Location: Clubhouse interior
Evaluation: Men's room consists of (2) sinks, (1) urinal, (1) toilet, (2) partitions, (2) mirrors. Unfinished concrete flooring.
Plain, generic style. All clean and functional. Women's is essentially identical except for having (2) toilets. Plan to
refurbish periodically to maintain high aesthetic standards.
Useful Life:
15 years
Remaining Life:
10 years
Best Case: $5,000.00
Worst Case: $7,000.00
$2,500/EA; Lower estimate to refurbish
$3,500/EA; Higher estimate
Cost Source: AR Cost Database
October 04,2011
Page 4 of 9
Association Reserves
Inventory Appendix
Client: 9999CC Sample HOA - Buildings
Comp #:
909 Pavilion Bathrooms - Refurbish
Quantity: (2) Bathrooms
Location: Pavilion
Evaluation: Smaller bathrooms. Plain, generic style. One sink and toilet in each. Plain/bare appearance.
Useful Life:
15 years
Remaining Life:
10 years
Best Case: $2,500.00
Worst Case: $3,000.00
$1,250/EA; Lower allowance to refurbish
$1,500/EA; Higher allowance
Cost Source: AR Cost Database
Comp #:
910 Clubhouse Fitness Room - Remodel
Quantity: Approx 14'x9'
Location: Fitness room at clubhouse
Evaluation: Carpet flooring, (1) small TV, (3) simple tube lights. Minimal GSF painted surfaces. All clean, good condition at
this time. No significant issues noted. Coordinate remodeling (new finishes and fixtures, TV, etc) with other
clubhouse projects.
Useful Life:
15 years
Remaining Life:
10 years
Best Case: $1,000.00
Worst Case: $1,500.00
Lower estimate to refurbish
Higher estimate
Cost Source: AR Cost Database
October 04,2011
Page 5 of 9
Association Reserves
Inventory Appendix
Client: 9999CC Sample HOA - Buildings
Comp #:
910 Clubhouse Furnishings - Replace
Quantity: Numerous Furnishings
Location: Clubhouse interior
Evaluation: Nice, modern, medium-grade décor. Furnishings include (6) ceiling fans, (4) glass-top tables, (16) chairs, (2)
sofas, (1) 56" wall-mounted TV, (1) coffee table, (2) small chairs with round table, (1) fireplace, (4) folding tables,
and (72) folding chairs. Lighting includes (5) exit signs, (10) emergency lights, (8) hanging ceiling lights, (5) wall
fixtures, (5) track fixtures. All furnishings are in fair/functional condition with minimal wear. Periodic remodeling
will help maintain a high aesthetic standard in this key common area.
Useful Life:
15 years
Remaining Life:
10 years
Best Case: $15,500.00
Worst Case: $18,500.00
Lower estimate to replace
Higher estimate
Cost Source: AR Cost Database
October 04,2011
Page 6 of 9
Association Reserves
Inventory Appendix
Client: 9999CC Sample HOA - Buildings
Comp #:
910 Clubhouse Interior - Refinish
Quantity: Paint, Flooring, Etc
Location: Clubhouse interior rooms
Evaluation: Painted concrete flooring (approx 2,125 GSF) in all areas except the gym. High ceilings approx 20'-25'. Paint job
is detailed with multiple colors. Expect paint the interior, make small repairs, etc periodically to maintain high
standards. This component represents larger projects, with the expectation that small touch-up projects will be
done as-needed from Operating funds.
Useful Life:
15 years
Remaining Life:
10 years
Best Case: $4,000.00
Worst Case: $5,000.00
Lower estimate to refinish
Higher estimate
Cost Source: AR Cost Database
Comp #:
910 Guardhouse Interior - Remodel
Quantity: Numerous Items
Location: Guardhouse interior
Evaluation: Approx 20'x10'. Tile flooring, painted walls and ceiling. (1) small bathroom with toilet and sink. Refrigerator,
microwave, minimal LF laminate counters. One ceiling fan. All items are fair/functional. Not a major aesthetic
priority, but should be remodeled periodically to maintain appearance. Flooring and fixtures may not be lifelimited, but plan on occasional repairs.
Useful Life:
10 years
Remaining Life:
5 years
Best Case: $2,000.00
Worst Case: $2,500.00
Lower allowance to refurbish
Higher allowance
Cost Source: AR Cost Database
October 04,2011
Page 7 of 9
Association Reserves
Inventory Appendix
Client: 9999CC Sample HOA - Buildings
Comp #:
1128 Fiber Cement Siding - Replace
Quantity: Approx 9,725 GSF
Location: Exteriors of guardhouse, clubhouse, pavilion, maintenance shed
Evaluation: All siding is intact with minimal weathering and deterioration. Painting periodically will restore appearance protect
from damaging elements. Good conditions overall with no cracked or loose planks noted.
Useful Life:
60 years
Remaining Life:
55 years
Best Case: $26,750.00
Worst Case: $29,175.00
$2.75/GSF; Lower estimate to replace
$3.00/GSF; Higher estimate
Cost Source: AR Cost Database
Comp #:
1129 Fiber Cement Siding - Repaint
Quantity: Approx 9,725 GSF
Location: Exteriors of guardhouse, clubhouse, pavilion, maintenance shed
Evaluation: Siding should be painted periodically, but not necessary as often as natural wood. Good condition at this time
with minimal staining and color fade.
Useful Life:
10 years
Remaining Life:
5 years
Best Case: $9,725.00
Worst Case: $12,175.00
$1.00/GSF; Lower estimate to repaint
$1.25/GSF; Higher estimate
Cost Source: AR Cost Database
October 04,2011
Page 8 of 9
Association Reserves
Inventory Appendix
Client: 9999CC Sample HOA - Buildings
Comp #:
1303 Comp Shingle Roof - Replace
Quantity: Approx 7,700 GSF
Location: Rooftops at clubhouse, pavilion, maintenance shed
Evaluation: Shingle roofs appear to be in good condition with no loose or slipping shingle noted. No curling noted from
ground level. No leaks reported by property manager.
Useful Life:
25 years
Remaining Life:
20 years
Best Case: $15,400.00
Worst Case: $19,250.00
$2.00/GSF; Lower estimate to replace
$2.50/GSF; Higher estimate
Cost Source: AR Cost Database
Comp #:
1309 Guardhouse Metal Roof - Replace
Quantity: Approx 1,125 GSF
Location: Roof of the guardhouse and driveway overhang
Evaluation: Standing seam metal roof appears to be in good condition. No signs of wear, rusting, or lifting at the edges.
Should have a long useful life with minimal maintenance required.
Useful Life:
30 years
Remaining Life:
25 years
Best Case: $11,250.00
Worst Case: $13,500.00
$10.00/GSF; Lower estimate to replace
$12.00/GSF; Higher estimate
Cost Source: AR Cost Database
October 04,2011
Page 9 of 9