1. No category

“Full” Reserve Study
Sample Vacation Ownership
Anywhere, World
Report #: 9999-0VO
For Period Beginning: January 1, 2012
Ending: December 31, 2012
Date Prepared: August 10, 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 or call us at:
800/733-1365
Association Reserves, Inc.
8/10/2011
Table of Contents
Executive Summary ............................................................................................... i
Reserve Study Summary .........................................................................................................i
Reserve Component List – Table 1.........................................................................................ii
Introduction, Objectives, and Methodology....................................................... 1
Which Physical Assets are Covered by Reserves?.................................................................2
How are Useful Life and Remaining Useful Life established?.................................................2
How are Cost Estimates Established? ....................................................................................2
How much Reserves are enough? ..........................................................................................3
How much should we contribute? ...........................................................................................3
What is our Funding Goal? .....................................................................................................4
Site Inspection....................................................................................................... 5
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 .......................................................... 33
Terms and Definitions ........................................................................................ 34
Photographic Inventory..........................................................................Appendix
Association Reserves, Inc.
8/10/2011
3- Minute Executive Summary
Association:
Sample Vacation Ownership
Assoc. #: 99990VO
Location:
# of Units:
Report Period:
Anywhere, World
100
January 1, 2012 through December 31, 2012
Results
Projected Starting Reserve Balance: ...............................................$458,921
Fully Funded Reserve Balance: .......................................................$939,413
Average Reserve Deficit (Surplus) Per Unit:........................................$4,805
Percent Funded: .....................................................................................48.9%
Recommended 2012 Annual Reserve Contribution: ....................$1,050,000
Recommended Special Assessment this year: ..........................................$0
Most Recent Reserve Contribution Rate: .........................................$450,000
Economic Assumptions:
Net Annual “After Tax” Interest Earnings Accruing to Reserves.......0.50%
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 July 26, 2011. This Reserve Study was prepared by, or under the
supervision of, a credentialed Reserve Specialist (RS).
 Because your Reserve Fund is above the 30% level at 48.9% Funded,
this represents a fair position, above the 0-30%”weak” range where
special assessments and deferred maintenance are common. As a
new association, the association has several years to build Reserves
to the 70% “strong” level before the Reserve Fund is stressed by
significant expenditures.
 Based on this starting point and your anticipated future expenses, our
recommendation is to set your Reserve contribution to a rate that
provides for the Reserve needs of the association and gradually
builds the Reserve Fund to the 100% level, or “Fully Funded” without
reliance on future special assessments. Note that no assets
appropriate for Reserve designation were excluded.
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Table 1: Executive Summary
9999-0VO
# Component
Useful
Life
(yrs)
Rem.
Useful
Life (yrs)
Current
Average
Cost
Future
Average
Cost
5
20
5
15
15
5
20
10
10
10
5
20
5
6
5
10
5
5
15
4
19
4
14
14
4
19
9
9
9
4
19
3
5
4
9
4
4
14
$221,600
$1,050,200
$323,900
$143,700
$228,500
$28,100
$52,500
$257,800
$391,700
$778,000
$228,900
$266,250
$15,600
$215,000
$526,700
$774,000
$540,700
$81,400
$22,500
$249,413
$1,841,532
$364,552
$217,359
$345,627
$31,627
$92,059
$336,371
$511,080
$1,015,114
$257,629
$466,871
$17,047
$249,244
$592,805
$1,009,894
$608,563
$91,616
$34,033
30
12
25
20
10
30
20
12
25
20
10
20
10
12
25
10
25
10
29
11
24
19
9
29
19
11
24
19
9
19
9
11
24
9
24
9
$87,500
$23,600
$18,000
$4,500
$40,000
$225,000
$275,000
$23,750
$35,000
$26,000
$13,500
$36,000
$7,500
$7,000
$412,500
$28,500
$62,500
$3,250
$206,199
$32,668
$36,590
$7,891
$52,191
$530,227
$482,214
$32,876
$71,148
$45,591
$17,614
$63,126
$9,786
$9,690
$838,528
$37,186
$127,050
$4,241
12
5
25
12
11
4
24
11
$1,575
$23,600
$22,750
$8,500
$2,180
$26,562
$46,246
$11,766
Villa Interiors (100 units)
2101
2102
2103
2104
2105
2106
2107
2108
2109
2110
2111
2113
2115
2116
2117
2118
2119
2120
2121
Interior - Repaint
Doors/Windows - Replace
Carpet Replace - Replace
Tile - Replace
Kitchen/Laundry Eqp - Replace
Microwaves - Replace
Lighting (20 Year) - Replace
Lighting (10 Year) - Replace
Kitchen Millwork/Sink - Replace
Bathroom - Refurbish
Art/Accessories - Replace
HVAC - Replace
Balcony Furniture - Replace
Entertainment - Replace
Furniture (Soft Goods) - Replace
Furniture (Hard Goods) - Replace
Window Treatments - Replace
Bedding - Replace
Wall Safe - Replace
Major Mechanical
302
304
308
308
309
309
311
312
312
312
327
801
803
810
1801
1802
1803
1806
Generator - Replace
HVAC Controller - Replace
Air Vent System - Replace
Gravity Vent System - Replace
Closed Circuit Coolers - Repair
Closed Circuit Coolers - Replace
Air Handler - Replace
Domestic Water Pumps - Replace
Fire Pump/Engine - Replace
Water Pumps (Roof) - Replace
Laundry Equipment - Replace
Boilers - Replace
Water Storage Tanks - Replace
Water Filter System - Replace
Elevator - Modernize
Elevator Cab - Remodel
Fire Control System - Replace
Radiant Space Heaters - Replace
Pool Area
324
404
503
909
Wall Lights - Replace
Pool Furniture - Replace
Metal Fence/Rail (Pool) - Replace
Bathrooms (Pool) - Refurbish
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Table 1: Executive Summary
9999-0VO
# Component
1202
1203
1203
1207
1207
1207
1208
1208
1208
1210
1821
Pool - Resurface
Spa - Resurface
Wading Pool - Resurface
Pool Filter - Replace
Spa Filter - Replace
Wading Pool Filter - Replace
Pool Heater - Replace
Spa Heater - Replace
Wading Pool Heater - Replace
Pool/Spa Pump - Replace
Wheel Chair Lift - Replace
Useful
Life
(yrs)
Rem.
Useful
Life (yrs)
Current
Average
Cost
Future
Average
Cost
10
5
5
12
12
12
8
8
8
8
12
9
4
4
11
11
11
7
7
7
7
6
$13,150
$3,500
$4,500
$2,250
$2,250
$2,250
$3,875
$3,250
$2,750
$2,800
$9,000
$17,158
$3,939
$5,065
$3,115
$3,115
$3,115
$4,766
$3,997
$3,382
$3,444
$10,746
8
12
5
7
11
4
$160,000
$121,000
$15,900
$196,780
$167,492
$17,896
10
5
25
25
15
12
5
10
6
10
30
5
15
9
4
24
24
14
11
4
9
5
9
29
4
9
$54,450
$54,000
$33,000
$8,500
$40,000
$13,000
$12,500
$7,000
$11,250
$87,500
$75,000
$65,000
$13,650
$71,045
$60,777
$67,082
$17,279
$60,504
$17,995
$14,069
$9,133
$13,042
$114,168
$176,742
$73,158
$17,810
20
20
6
5
20
10
20
5
25
10
12
19
19
4
4
19
9
19
4
24
9
6
$35,000
$73,500
$6,250
$8,000
$5,250
$12,600
$5,250
$5,625
$177,500
$4,000
$9,000
$61,373
$128,883
$7,034
$9,004
$9,206
$16,440
$9,206
$6,331
$360,821
$5,219
$10,746
Buliding Exterior
1119 Stucco - Repaint
1302 Flat Roof - Replace
2114 Balcony Deck/Rail - Repaint
Building Interior
324
601
603
707
720
909
910
910
910
910
910
1110
1110
Hallway Lights - Replace
Carpet - Replace
Tile Floor - Replace
Trash Chute Doors - Replace
Entry Locks - Replace
Bathrooms - Refurbish
Activities Room - Remodel
Admin Offices - Refurbish
Fitness Room - Remodel
Lobby/Rec Room - Remodel (10 Yr)
Lobby/Rec Room - Remodel (30 Yr)
Hallway Surfaces - Repaint
Stairwell Surfaces - Repaint
General Common Areas
103
111
205
206
320
322
324
404
503
1402
1821
79
Concrete/Vinyl Deck(Pool) - Replace
Trex Deck (Pool) - Replace
Entry Pavers - Repair
Colored Concrete - Restain
Pole Lights - Replace
Bollard Lights - Replace
Wall Lights - Replace
Patio Furniture - Replace
Metal Fence/Rail - Replace
Main Entry/Exit Signs - Refurbish
Wheel Chair Lift - Replace
Total Funded Components
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Note1:
Note2:
a Useful Life of “N/A” means a one-time expense, not expected to repeat.
Highlighted line items are expected to require attention in the initial year.
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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, 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”.
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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 (or it by
•• Predictable
Predictable Life
Life Limit
Limit
definition is 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?
Financial projections are based on the average of our Best Case and Worst
Case estimates, which are established in this order…
1)
Client Cost History
2)
Comparison to Association Reserves database of work done at
similar associations
3)
Vendor Recommendations
4)
Reliable National Industry cost estimating guidebooks
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How much Reserves are enough?
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
PercentFunded
Funded
Ideal
Ideal
-- 100%
100%
-- 70%
70%
Good
Good
Fair
Fair
--30%
30%
--0%
0%
Poor
Poor
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!
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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 Boardmembers
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.
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Site Inspection Notes
During our site visit on July 26, 2011, we started with a brief meeting with the
General Mgr and Building Engr. We encountered no accelerated
deterioration or “poor condition” assets in our tour of this relatively new
facility. We inspected all areas of the building, and were able to see at least
two of every unit type (1-Bdrm, 2-Bdrm, 3-Bdrm, 4-Bdrm).
During our site inspection we were informed that Landscaping is being
handled from the Operational maintenance budget, not Reserves.
*Please see the Photographic Appendix at the rear of this report for a
complete description of each component within the property.
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Projected Expenses
The figure below shows the array of the projected future expenses at your
association. As expenses are based on the average of our Best Case and
Worst Case projections, inflated appropriately for future years. It is clear to
see the strong influence of the “every five year” interior refurbishing
projects. With all units on the same refurbish schedule, we expect this to be
the trend through the years unless phasing is initiated.
Annual Reserve Expenses
$14,000,000
$12,000,000
$10,000,000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$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.
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Reserve Fund Status
The starting point for our financial analysis is your Reserve Fund balance,
projected to be $458,921 as-of the start of your Fiscal Year on January 1,
2012. This is based on your actual balance on 6/30/2011 of $425,271 and
anticipated Reserve contributions and expenses projected through the end
of your Fiscal Year. As of January 1, 2012, your Fully Funded Balance is
computed to be $939,413 (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 49% Funded. As indicated earlier in the Executive Summary, this
represents a fair Reserve status.
Recommended Funding Plan
Based on your current Percent Funded and your projected cash flow
requirements, we are recommending Reserve contributions of $1,050,000
this Fiscal Year. This represents the first year of the 30-year Funding Plan
shown below. This same information is shown numerically in both Table 4
and Table 5.
Funding Plan
Recom mended
Current
$3,000,000
Annual Contributions
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
2012
2017
2022
2027
2032
2037
2042
Years
Figure 2
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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.
T ar g e t Fu lly F un d ed B ala nc e
30-Yr C ash F low
Rec o m m e n de d F un d in g P la n
C u r re n t Fu nd ing P la n
$1 8,00 0,00 0
$1 6,00 0,00 0
$1 4,00 0,00 0
$1 2,00 0,00 0
$1 0,00 0,00 0
$ 8,00 0 ,00 0
$ 6,00 0 ,00 0
$ 4,00 0 ,00 0
$ 2,00 0 ,00 0
$0
2012
2017
2022
2027
2032
2037
2042
Years
Figure 3
In this figure it is easy to see how your Reserve Fund gradually draws
closer to the Fully Funded (100%) level, while the Reserve Fund is
completely depleted in approximately 10 yrs at your current level of
Reserve Funding.
Re c om m e nd e d Fu n ding P la n
Percent F unded
C ur r e nt F un d in g P la n
120%
100%
80%
60%
40%
20%
0%
2012
2017
2022
2027
2032
2037
2042
Years
Figure 4
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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. 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 Annual 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.
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Table 2: Reserve Component List Detail
9999-0VO
Rem.
# Component
Quantity
Current
Useful
Useful
Best
Worst
Life
Life
Cost
Cost
Villa Interiors (100 units)
2101 Interior - Repaint
Extensive GSF
2102 Doors/Windows - Replace
(100) Units
5
4
$200,100
$243,100
20
19
$1,000,200
$1,100,200
2103 Carpet Replace - Replace
Extensive GSY
2104 Tile - Replace
Extensive GSF
5
4
$300,400
$347,400
15
14
$120,200
2105 Kitchen/Laundry Eqp - Replace
(100) Units
$167,200
15
14
$207,000
2106 Microwaves - Replace
$250,000
(100) Microwaves
5
4
$23,100
$33,100
2107 Lighting (20 Year) - Replace
Numerous Lights
20
19
$45,000
$60,000
2108 Lighting (10 Year) - Replace
(100) Units
10
9
$230,000
$285,600
2109 Kitchen Millwork/Sink - Replace
(100) Units
10
9
$345,000
$438,400
2110 Bathroom - Refurbish
(100) Units
10
9
$743,000
$813,000
2111 Art/Accessories - Replace
Paintings, Pictures, Etc
5
4
$207,400
$250,400
2113 HVAC - Replace
(100) Units
20
19
$250,000
$282,500
2115 Balcony Furniture - Replace
(100) Units
5
3
$13,500
$17,700
2116 Entertainment - Replace
TV's, DVD, Stereo, Etc.
6
5
$185,000
$245,000
2117 Furniture (Soft Goods) - Replace
Sofas, Upholstered Chairs
2118 Furniture (Hard Goods) - Replace
Tables, Dressers, Etc.
2119 Window Treatments - Replace
5
4
$495,000
$558,400
10
9
$695,000
$853,000
(100) units
5
4
$500,000
$581,400
2120 Bedding - Replace
Comforter, Shams, Etc.
5
4
$72,500
$90,300
2121 Wall Safe - Replace
(100) Wall Safes
15
14
$20,000
$25,000
302 Generator - Replace
(1) Suzuki 300 KVA
30
29
$75,000
$100,000
304 HVAC Controller - Replace
(1) Trane Tracer Summit
12
11
$21,500
$25,700
308 Air Vent System - Replace
(4) Loren Cook
25
24
$16,000
$20,000
308 Gravity Vent System - Replace
(1) Cook 48x42 GR
20
19
$4,000
$5,000
309 Closed Circuit Coolers - Repair
(2) Evapco
10
9
$30,000
$50,000
309 Closed Circuit Coolers - Replace
(2) Evapco
30
29
$200,000
$250,000
311 Air Handler - Replace
(1) Munters System
20
19
$250,000
$300,000
312 Domestic Water Pumps - Replace
(3) Pumps, Control Panel
12
11
$20,500
$27,000
312 Fire Pump/Engine - Replace
(1) 75HP System
25
24
$30,000
$40,000
312 Water Pumps (Roof) - Replace
(2) Baldor
20
19
$24,000
$28,000
327 Laundry Equipment - Replace
(1) Washer, (1) Dryer
10
9
$12,000
$15,000
801 Boilers - Replace
(2) Raypak,(1) Lochnivar
20
19
$30,000
$42,000
803 Water Storage Tanks - Replace
(2) Tanks
10
9
$6,500
$8,500
810 Water Filter System - Replace
Pentair System
12
11
$6,000
$8,000
1801 Elevator - Modernize
(3) 10-Stop, Hydraulic
25
24
$375,000
$450,000
1802 Elevator Cab - Remodel
(3) Std Cabs
10
9
$24,000
$33,000
1803 Fire Control System - Replace
(1) Fire-Lite System
25
24
$50,000
$75,000
1806 Radiant Space Heaters - Replace
Approx (5)Taskmaster
10
9
$2,500
$4,000
324 Wall Lights - Replace
(9) Flood Style
12
11
$1,350
$1,800
404 Pool Furniture - Replace
Approx (111) Pieces
5
4
$19,400
$27,800
503 Metal Fence/Rail (Pool) - Replace
Approx 325 LF
25
24
$19,500
$26,000
Major Mechanical
Pool Area
Association Reserves, Inc.
10
8/10/2011
Table 2: Reserve Component List Detail
9999-0VO
Rem.
# Component
909 Bathrooms (Pool) - Refurbish
Quantity
Current
Useful
Useful
Best
Worst
Life
Life
Cost
Cost
12
11
$7,000
$10,000
10
9
$12,300
$14,000
1202 Pool - Resurface
(1) Men's and (1)
Women's
Approx 154 LF
1203 Spa - Resurface
Approx. 28 LF
5
4
$3,000
$4,000
1203 Wading Pool - Resurface
Approx. 43 LF
5
4
$4,000
$5,000
1207 Pool Filter - Replace
(1) Purex TR 100C
12
11
$2,000
$2,500
1207 Spa Filter - Replace
(1) Purex TR 100C
12
11
$2,000
$2,500
1207 Wading Pool Filter - Replace
(1) Purex TR 100C
12
11
$2,000
$2,500
1208 Pool Heater - Replace
(1) Raypak 399,000 BTU
8
7
$3,500
$4,250
1208 Spa Heater - Replace
(1) Raypak 276,000 BTU
8
7
$3,000
$3,500
1208 Wading Pool Heater - Replace
(1) Coates Electric
8
7
$2,500
$3,000
1210 Pool/Spa Pump - Replace
(4) Whisperflo 1.5 HP
8
7
$2,400
$3,200
1821 Wheel Chair Lift - Replace
(1) Genesis Vertical Lift
12
6
$8,000
$10,000
Buliding Exterior
1119 Stucco - Repaint
Approx 52,000 GSF
8
7
$120,000
$200,000
1302 Flat Roof - Replace
Approx 11,000 GSF
12
11
$110,000
$132,000
2114 Balcony Deck/Rail - Repaint
Extensive GSF & LF
5
4
$14,400
$17,400
Building Interior
324 Hallway Lights - Replace
(403) Lights
10
9
$48,400
$60,500
601 Carpet - Replace
Approx 1200 GSY
5
4
$48,000
$60,000
603 Tile Floor - Replace
Approx 1,200 GSF
25
24
$30,000
$36,000
707 Trash Chute Doors - Replace
(10) Steel Doors
25
24
$7,000
$10,000
720 Entry Locks - Replace
(100) Keycard Locks
15
14
$35,000
$45,000
909 Bathrooms - Refurbish
(1) Men's, (1) Women's
12
11
$10,000
$16,000
910 Activities Room - Remodel
Flooring,Furniture,Walls
5
4
$10,000
$15,000
910 Admin Offices - Refurbish
Offices, Office Equipment
10
9
$6,000
$8,000
910 Fitness Room - Remodel
Equip.,Flooring, Walls
6
5
$10,000
$12,500
910 Lobby/Rec Room - Remodel (10 Yr)
Furniture,Walls,Art,Etc.
10
9
$75,000
$100,000
910 Lobby/Rec Room - Remodel (30 Yr)
Tile, Chandeliers
30
29
$65,000
$85,000
1110 Hallway Surfaces - Repaint
Approx 40,000 GSF
5
4
$55,000
$75,000
1110 Stairwell Surfaces - Repaint
Approx. 15,600 GSF
15
9
$11,700
$15,600
103 Concrete/Vinyl Deck(Pool) - Replace
Approx 3,000 GSF
20
19
$30,000
$40,000
111 Trex Deck (Pool) - Replace
Approx 2,800 GSF
20
19
$63,000
$84,000
205 Entry Pavers - Repair
Approx 3,500 GSF
6
4
$5,000
$7,500
206 Colored Concrete - Restain
Approx 6,000 GSF
5
4
$6,000
$10,000
320 Pole Lights - Replace
(3) Decorative Metal
20
19
$4,500
$6,000
322 Bollard Lights - Replace
(14) 2' Metal
10
9
$11,200
$14,000
324 Wall Lights - Replace
(30) Cylinder Style
20
19
$4,500
$6,000
404 Patio Furniture - Replace
(30) Pieces
5
4
$4,500
$6,750
503 Metal Fence/Rail - Replace
Approx 2,060 LF
25
24
$155,000
$200,000
1402 Main Entry/Exit Signs - Refurbish
(2) Stone/Stucco Signs
10
9
$3,000
$5,000
1821 Wheel Chair Lift - Replace
(1) Genesis Vertical Lift
12
6
$8,000
$10,000
General Common Areas
79 Total Funded Components
Association Reserves, Inc.
11
8/10/2011
Table 3: Contribution and Fund Breakdown
9999-0VO
Rem.
# Component
Fully
Current
Useful
Useful
Current
Funded
Fund
Reserve
Life
Life
(Avg) Cost
Balance
Balance
Contributions
Villa Interiors (100 units)
2101 Interior - Repaint
5
4
$221,600
$44,320
$44,320.00
$50,407.20
2102 Doors/Windows - Replace
20
19
$1,050,200
$52,510
$0.00
$59,722.07
2103 Carpet Replace - Replace
5
4
$323,900
$64,780
$64,780.00
$73,677.31
2104 Tile - Replace
15
14
$143,700
$9,580
$0.00
$10,895.78
2105 Kitchen/Laundry Eqp - Replace
15
14
$228,500
$15,233
$0.00
$17,325.58
5
4
$28,100
$5,620
$5,620.00
$6,391.89
2107 Lighting (20 Year) - Replace
20
19
$52,500
$2,625
$0.00
$2,985.53
2108 Lighting (10 Year) - Replace
10
9
$257,800
$25,780
$0.00
$29,320.79
2109 Kitchen Millwork/Sink - Replace
10
9
$391,700
$39,170
$0.00
$44,549.86
2110 Bathroom - Refurbish
10
9
$778,000
$77,800
$0.00
$88,485.56
5
4
$228,900
$45,780
$45,780.00
$52,067.73
20
19
$266,250
$13,313
$0.00
$15,140.93
2115 Balcony Furniture - Replace
5
3
$15,600
$6,240
$6,240.00
$3,548.52
2116 Entertainment - Replace
6
5
$215,000
$35,833
$19,937.67
$40,754.92
2117 Furniture (Soft Goods) - Replace
5
4
$526,700
$105,340
$105,340.00
$119,808.09
2118 Furniture (Hard Goods) - Replace
10
9
$774,000
$77,400
$0.00
$88,030.62
5
4
$540,700
$108,140
$108,140.00
$122,992.66
2106 Microwaves - Replace
2111 Art/Accessories - Replace
2113 HVAC - Replace
2119 Window Treatments - Replace
2120 Bedding - Replace
5
4
$81,400
$16,280
$16,280.00
$18,516.00
15
14
$22,500
$1,500
$0.00
$1,706.02
302 Generator - Replace
30
29
$87,500
$2,917
$0.00
$3,317.26
304 HVAC Controller - Replace
12
11
$23,600
$1,967
$0.00
$2,236.78
308 Air Vent System - Replace
25
24
$18,000
$720
$0.00
$818.89
308 Gravity Vent System - Replace
20
19
$4,500
$225
$0.00
$255.90
309 Closed Circuit Coolers - Repair
10
9
$40,000
$4,000
$0.00
$4,549.39
309 Closed Circuit Coolers - Replace
30
29
$225,000
$7,500
$0.00
$8,530.10
311 Air Handler - Replace
20
19
$275,000
$13,750
$0.00
$15,638.52
312 Domestic Water Pumps - Replace
12
11
$23,750
$1,979
$0.00
$2,251.00
312 Fire Pump/Engine - Replace
25
24
$35,000
$1,400
$0.00
$1,592.29
312 Water Pumps (Roof) - Replace
20
19
$26,000
$1,300
$0.00
$1,478.55
327 Laundry Equipment - Replace
10
9
$13,500
$1,350
$0.00
$1,535.42
801 Boilers - Replace
20
19
$36,000
$1,800
$0.00
$2,047.22
803 Water Storage Tanks - Replace
10
9
$7,500
$750
$0.00
$853.01
810 Water Filter System - Replace
12
11
$7,000
$583
$0.00
$663.45
1801 Elevator - Modernize
25
24
$412,500
$16,500
$0.00
$18,766.22
1802 Elevator Cab - Remodel
10
9
$28,500
$2,850
$0.00
$3,241.44
1803 Fire Control System - Replace
25
24
$62,500
$2,500
$0.00
$2,843.37
1806 Radiant Space Heaters - Replace
10
9
$3,250
$325
$0.00
$369.64
12
11
$1,575
$131
$0.00
$149.28
5
4
$23,600
$4,720
$4,720.00
$5,368.28
25
24
$22,750
$910
$0.00
$1,034.99
2121 Wall Safe - Replace
Major Mechanical
Pool Area
324 Wall Lights - Replace
404 Pool Furniture - Replace
503 Metal Fence/Rail (Pool) - Replace
Association Reserves, Inc.
12
8/10/2011
Table 3: Contribution and Fund Breakdown
9999-0VO
Rem.
# Component
909 Bathrooms (Pool) - Refurbish
Fully
Current
Useful
Useful
Current
Funded
Fund
Reserve
Life
Life
(Avg) Cost
Balance
Balance
Contributions
12
11
$8,500
$708
$0.00
$805.62
1202 Pool - Resurface
10
9
$13,150
$1,315
$0.00
$1,495.61
1203 Spa - Resurface
5
4
$3,500
$700
$700.00
$796.14
1203 Wading Pool - Resurface
5
4
$4,500
$900
$900.00
$1,023.61
1207 Pool Filter - Replace
12
11
$2,250
$188
$0.00
$213.25
1207 Spa Filter - Replace
12
11
$2,250
$188
$0.00
$213.25
1207 Wading Pool Filter - Replace
12
11
$2,250
$188
$0.00
$213.25
1208 Pool Heater - Replace
8
7
$3,875
$484
$0.00
$550.90
1208 Spa Heater - Replace
8
7
$3,250
$406
$0.00
$462.05
1208 Wading Pool Heater - Replace
8
7
$2,750
$344
$0.00
$390.96
1210 Pool/Spa Pump - Replace
8
7
$2,800
$350
$0.00
$398.07
1821 Wheel Chair Lift - Replace
12
6
$9,000
$4,500
$0.00
$853.01
Buliding Exterior
1119 Stucco - Repaint
8
7
$160,000
$20,000
$0.00
$22,746.93
12
11
$121,000
$10,083
$0.00
$11,468.24
5
4
$15,900
$3,180
$3,180.00
$3,616.76
10
9
$54,450
$5,445
$0.00
$6,192.85
5
4
$54,000
$10,800
$10,800.00
$12,283.34
603 Tile Floor - Replace
25
24
$33,000
$1,320
$0.00
$1,501.30
707 Trash Chute Doors - Replace
25
24
$8,500
$340
$0.00
$386.70
720 Entry Locks - Replace
15
14
$40,000
$2,667
$0.00
$3,032.92
909 Bathrooms - Refurbish
12
11
$13,000
$1,083
$0.00
$1,232.13
910 Activities Room - Remodel
5
4
$12,500
$2,500
$2,500.00
$2,843.37
910 Admin Offices - Refurbish
10
9
$7,000
$700
$0.00
$796.14
910 Fitness Room - Remodel
6
5
$11,250
$1,875
$1,875.00
$2,132.52
$9,951.78
1302 Flat Roof - Replace
2114 Balcony Deck/Rail - Repaint
Building Interior
324 Hallway Lights - Replace
601 Carpet - Replace
910 Lobby/Rec Room - Remodel (10 Yr)
10
9
$87,500
$8,750
$0.00
910 Lobby/Rec Room - Remodel (30 Yr)
30
29
$75,000
$2,500
$0.00
$2,843.37
1110 Hallway Surfaces - Repaint
5
4
$65,000
$13,000
$13,000.00
$14,785.51
1110 Stairwell Surfaces - Repaint
15
9
$13,650
$5,460
$0.00
$1,034.99
103 Concrete/Vinyl Deck(Pool) - Replace
20
19
$35,000
$1,750
$0.00
$1,990.36
111 Trex Deck (Pool) - Replace
20
19
$73,500
$3,675
$0.00
$4,179.75
205 Entry Pavers - Repair
6
4
$6,250
$2,083
$2,083.33
$1,184.74
206 Colored Concrete - Restain
5
4
$8,000
$1,600
$1,600.00
$1,819.75
320 Pole Lights - Replace
20
19
$5,250
$263
$0.00
$298.55
322 Bollard Lights - Replace
10
9
$12,600
$1,260
$0.00
$1,433.06
324 Wall Lights - Replace
20
19
$5,250
$263
$0.00
$298.55
5
4
$5,625
$1,125
$1,125.00
$1,279.51
General Common Areas
404 Patio Furniture - Replace
25
24
$177,500
$7,100
$0.00
$8,075.16
1402 Main Entry/Exit Signs - Refurbish
503 Metal Fence/Rail - Replace
10
9
$4,000
$400
$0.00
$454.94
1821 Wheel Chair Lift - Replace
12
6
$9,000
$4,500
$0.00
$853.01
$939,413
$458,921
$1,050,000
79 Total Funded Components
Association Reserves, Inc.
13
8/10/2011
Table 4: 30-Year Reserve Plan Summary
Fiscal Year Beginning:
9999-0VO
01/01/12
Interest:
0.5%
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
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
$458,921
$1,513,852
$2,605,648
$3,735,443
$4,887,312
$3,670,445
$4,646,184
$5,904,818
$7,016,113
$8,364,904
$3,723,346
$5,148,233
$6,032,431
$7,563,462
$9,124,224
$6,851,974
$8,256,581
$9,977,068
$11,392,013
$13,183,792
$3,763,663
$5,683,694
$7,670,381
$9,713,765
$10,613,808
$6,841,221
$9,079,481
$11,395,078
$13,790,381
$16,217,719
$939,413
$1,918,493
$2,955,472
$4,052,944
$5,196,045
$3,929,528
$4,879,610
$6,139,282
$7,274,205
$8,676,645
$3,954,612
$5,342,526
$6,203,957
$7,745,828
$9,351,032
$7,052,467
$8,468,415
$10,238,049
$11,731,704
$13,643,576
$4,077,508
$5,917,260
$7,863,727
$9,909,322
$10,823,558
$6,952,075
$9,151,605
$11,476,851
$13,933,374
$16,475,469
48.9%
78.9%
88.2%
92.2%
94.1%
93.4%
95.2%
96.2%
96.5%
96.4%
94.2%
96.4%
97.2%
97.6%
97.6%
97.2%
97.5%
97.5%
97.1%
96.6%
92.3%
96.1%
97.5%
98.0%
98.1%
98.4%
99.2%
99.3%
99.0%
98.4%
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
Strong
Strong
Strong
$1,050,000
$1,081,500
$1,113,945
$1,147,363
$1,181,784
$1,217,238
$1,253,755
$1,291,368
$1,330,109
$1,370,012
$1,411,112
$1,453,446
$1,497,049
$1,541,960
$1,588,219
$1,635,866
$1,684,942
$1,735,490
$1,787,555
$1,841,181
$1,896,417
$1,953,309
$2,011,909
$2,072,266
$2,134,434
$2,198,467
$2,264,421
$2,332,353
$2,402,324
$2,474,394
Association Reserves, Inc.
14
$4,931
$0
$10,297
$0
$15,849
$0
$21,552
$17,047
$21,390 $2,420,041
$20,787
$262,286
$26,372
$21,493
$32,296
$212,368
$38,444
$19,762
$30,214 $6,041,785
$22,174
$8,399
$27,946
$597,193
$33,983
$0
$41,710
$22,909
$39,932 $3,900,402
$37,763
$269,022
$45,575
$10,029
$53,411
$373,957
$61,427
$57,202
$42,360 $11,303,670
$23,613
$0
$33,378
$0
$43,451
$11,976
$50,808 $1,223,032
$43,628 $5,950,649
$39,793
$0
$51,176
$0
$62,950
$0
$75,004
$49,991
$54,021 $13,350,709
8/10/2011
Table 5: 30-Year Income/Expense Detail (yrs 0 through 4)
Fiscal Year
Starting Reserve Balance
Annual Reserve Contribution
9999-0VO
2012
2013
2014
2015
2016
$458,921
$1,513,852
$2,605,648
$3,735,443
$4,887,312
$1,050,000
$1,081,500
$1,113,945
$1,147,363
$1,181,784
Planned Special Assessments
$0
$0
$0
$0
$0
$4,931
$10,297
$15,849
$21,552
$21,390
$1,513,852
$2,605,648
$3,735,443
$4,904,359
$6,090,486
2101 Interior - Repaint
$0
$0
$0
$0
$249,413
2102 Doors/Windows - Replace
$0
$0
$0
$0
$0
2103 Carpet Replace - Replace
$0
$0
$0
$0
$364,552
2104 Tile - Replace
$0
$0
$0
$0
$0
2105 Kitchen/Laundry Eqp - Replace
$0
$0
$0
$0
$0
2106 Microwaves - Replace
$0
$0
$0
$0
$31,627
2107 Lighting (20 Year) - Replace
$0
$0
$0
$0
$0
2108 Lighting (10 Year) - Replace
$0
$0
$0
$0
$0
2109 Kitchen Millwork/Sink - Replace
$0
$0
$0
$0
$0
2110 Bathroom - Refurbish
$0
$0
$0
$0
$0
2111 Art/Accessories - Replace
$0
$0
$0
$0
$257,629
2113 HVAC - Replace
$0
$0
$0
$0
$0
2115 Balcony Furniture - Replace
$0
$0
$0
$17,047
$0
2116 Entertainment - Replace
$0
$0
$0
$0
$0
2117 Furniture (Soft Goods) - Replace
$0
$0
$0
$0
$592,805
2118 Furniture (Hard Goods) - Replace
$0
$0
$0
$0
$0
2119 Window Treatments - Replace
$0
$0
$0
$0
$608,563
2120 Bedding - Replace
$0
$0
$0
$0
$91,616
2121 Wall Safe - Replace
$0
$0
$0
$0
$0
302 Generator - Replace
$0
$0
$0
$0
$0
304 HVAC Controller - Replace
$0
$0
$0
$0
$0
308 Air Vent System - Replace
$0
$0
$0
$0
$0
308 Gravity Vent System - Replace
$0
$0
$0
$0
$0
309 Closed Circuit Coolers - Repair
$0
$0
$0
$0
$0
309 Closed Circuit Coolers - Replace
$0
$0
$0
$0
$0
311 Air Handler - Replace
$0
$0
$0
$0
$0
312 Domestic Water Pumps - Replace
$0
$0
$0
$0
$0
312 Fire Pump/Engine - Replace
$0
$0
$0
$0
$0
312 Water Pumps (Roof) - Replace
$0
$0
$0
$0
$0
327 Laundry Equipment - Replace
$0
$0
$0
$0
$0
801 Boilers - Replace
$0
$0
$0
$0
$0
803 Water Storage Tanks - Replace
$0
$0
$0
$0
$0
810 Water Filter System - Replace
$0
$0
$0
$0
$0
1801 Elevator - Modernize
$0
$0
$0
$0
$0
1802 Elevator Cab - Remodel
$0
$0
$0
$0
$0
1803 Fire Control System - Replace
$0
$0
$0
$0
$0
1806 Radiant Space Heaters - Replace
$0
$0
$0
$0
$0
Interest Earnings
Total Income
# Component
Villa Interiors (100 units)
Major Mechanical
Association Reserves, Inc.
15
8/10/2011
Table 5: 30-Year Income/Expense Detail (yrs 0 through 4)
Fiscal Year
9999-0VO
2012
2013
2014
2015
2016
324 Wall Lights - Replace
$0
$0
$0
$0
$0
404 Pool Furniture - Replace
$0
$0
$0
$0
$26,562
503 Metal Fence/Rail (Pool) - Replace
$0
$0
$0
$0
$0
909 Bathrooms (Pool) - Refurbish
$0
$0
$0
$0
$0
1202 Pool - Resurface
$0
$0
$0
$0
$0
1203 Spa - Resurface
$0
$0
$0
$0
$3,939
1203 Wading Pool - Resurface
$0
$0
$0
$0
$5,065
1207 Pool Filter - Replace
$0
$0
$0
$0
$0
1207 Spa Filter - Replace
$0
$0
$0
$0
$0
1207 Wading Pool Filter - Replace
$0
$0
$0
$0
$0
1208 Pool Heater - Replace
$0
$0
$0
$0
$0
1208 Spa Heater - Replace
$0
$0
$0
$0
$0
1208 Wading Pool Heater - Replace
$0
$0
$0
$0
$0
1210 Pool/Spa Pump - Replace
$0
$0
$0
$0
$0
1821 Wheel Chair Lift - Replace
$0
$0
$0
$0
$0
1119 Stucco - Repaint
$0
$0
$0
$0
$0
1302 Flat Roof - Replace
$0
$0
$0
$0
$0
2114 Balcony Deck/Rail - Repaint
$0
$0
$0
$0
$17,896
324 Hallway Lights - Replace
$0
$0
$0
$0
$0
601 Carpet - Replace
$0
$0
$0
$0
$60,777
603 Tile Floor - Replace
$0
$0
$0
$0
$0
707 Trash Chute Doors - Replace
$0
$0
$0
$0
$0
720 Entry Locks - Replace
$0
$0
$0
$0
$0
909 Bathrooms - Refurbish
$0
$0
$0
$0
$0
910 Activities Room - Remodel
$0
$0
$0
$0
$14,069
910 Admin Offices - Refurbish
$0
$0
$0
$0
$0
910 Fitness Room - Remodel
$0
$0
$0
$0
$0
910 Lobby/Rec Room - Remodel (10 Yr)
$0
$0
$0
$0
$0
910 Lobby/Rec Room - Remodel (30 Yr)
$0
$0
$0
$0
$0
1110 Hallway Surfaces - Repaint
$0
$0
$0
$0
$73,158
1110 Stairwell Surfaces - Repaint
$0
$0
$0
$0
$0
103 Concrete/Vinyl Deck(Pool) - Replace
$0
$0
$0
$0
$0
111 Trex Deck (Pool) - Replace
$0
$0
$0
$0
$0
205 Entry Pavers - Repair
$0
$0
$0
$0
$7,034
206 Colored Concrete - Restain
$0
$0
$0
$0
$9,004
320 Pole Lights - Replace
$0
$0
$0
$0
$0
322 Bollard Lights - Replace
$0
$0
$0
$0
$0
324 Wall Lights - Replace
$0
$0
$0
$0
$0
404 Patio Furniture - Replace
$0
$0
$0
$0
$6,331
503 Metal Fence/Rail - Replace
$0
$0
$0
$0
$0
Pool Area
Buliding Exterior
Building Interior
General Common Areas
Association Reserves, Inc.
16
8/10/2011
Table 5: 30-Year Income/Expense Detail (yrs 0 through 4)
Fiscal Year
9999-0VO
2012
2013
2014
2015
2016
1402 Main Entry/Exit Signs - Refurbish
$0
$0
$0
$0
$0
1821 Wheel Chair Lift - Replace
$0
$0
$0
$0
$0
$0
$0
$0
$17,047
$2,420,041
$1,513,852
$2,605,648
$3,735,443
$4,887,312
$3,670,445
Total Expenses
Ending Reserve Balance:
Association Reserves, Inc.
17
8/10/2011
Table 5: 30-Year Income/Expense Detail (yrs 5 through 9)
Fiscal Year
9999-0VO
2017
2018
2019
2020
2021
Starting Reserve Balance
$3,670,445
$4,646,184
$5,904,818
$7,016,113
$8,364,904
Annual Reserve Contribution
$1,217,238
$1,253,755
$1,291,368
$1,330,109
$1,370,012
Planned Special Assessments
$0
$0
$0
$0
$0
$20,787
$26,372
$32,296
$38,444
$30,214
$4,908,470
$5,926,311
$7,228,482
$8,384,666
$9,765,131
2101 Interior - Repaint
$0
$0
$0
$0
$289,138
2102 Doors/Windows - Replace
$0
$0
$0
$0
$0
2103 Carpet Replace - Replace
$0
$0
$0
$0
$422,616
2104 Tile - Replace
$0
$0
$0
$0
$0
2105 Kitchen/Laundry Eqp - Replace
$0
$0
$0
$0
$0
2106 Microwaves - Replace
$0
$0
$0
$0
$36,664
2107 Lighting (20 Year) - Replace
$0
$0
$0
$0
$0
2108 Lighting (10 Year) - Replace
$0
$0
$0
$0
$336,371
2109 Kitchen Millwork/Sink - Replace
$0
$0
$0
$0
$511,080
2110 Bathroom - Refurbish
$0
$0
$0
$0
$1,015,114
2111 Art/Accessories - Replace
$0
$0
$0
$0
$298,663
2113 HVAC - Replace
$0
$0
$0
$0
$0
2115 Balcony Furniture - Replace
$0
$0
$0
$19,762
$0
$249,244
$0
$0
$0
$0
2117 Furniture (Soft Goods) - Replace
$0
$0
$0
$0
$687,224
2118 Furniture (Hard Goods) - Replace
$0
$0
$0
$0
$1,009,894
2119 Window Treatments - Replace
$0
$0
$0
$0
$705,491
2120 Bedding - Replace
$0
$0
$0
$0
$106,209
2121 Wall Safe - Replace
$0
$0
$0
$0
$0
302 Generator - Replace
$0
$0
$0
$0
$0
304 HVAC Controller - Replace
$0
$0
$0
$0
$0
308 Air Vent System - Replace
$0
$0
$0
$0
$0
308 Gravity Vent System - Replace
$0
$0
$0
$0
$0
309 Closed Circuit Coolers - Repair
$0
$0
$0
$0
$52,191
309 Closed Circuit Coolers - Replace
$0
$0
$0
$0
$0
311 Air Handler - Replace
$0
$0
$0
$0
$0
312 Domestic Water Pumps - Replace
$0
$0
$0
$0
$0
312 Fire Pump/Engine - Replace
$0
$0
$0
$0
$0
312 Water Pumps (Roof) - Replace
$0
$0
$0
$0
$0
327 Laundry Equipment - Replace
$0
$0
$0
$0
$17,614
801 Boilers - Replace
$0
$0
$0
$0
$0
803 Water Storage Tanks - Replace
$0
$0
$0
$0
$9,786
810 Water Filter System - Replace
Interest Earnings
Total Income
# Component
Villa Interiors (100 units)
2116 Entertainment - Replace
Major Mechanical
$0
$0
$0
$0
$0
1801 Elevator - Modernize
$0
$0
$0
$0
$0
1802 Elevator Cab - Remodel
$0
$0
$0
$0
$37,186
1803 Fire Control System - Replace
$0
$0
$0
$0
$0
1806 Radiant Space Heaters - Replace
$0
$0
$0
$0
$4,241
Association Reserves, Inc.
18
8/10/2011
Table 5: 30-Year Income/Expense Detail (yrs 5 through 9)
Fiscal Year
9999-0VO
2017
2018
2019
2020
2021
324 Wall Lights - Replace
$0
$0
$0
$0
$0
404 Pool Furniture - Replace
$0
$0
$0
$0
$30,793
503 Metal Fence/Rail (Pool) - Replace
$0
$0
$0
$0
$0
909 Bathrooms (Pool) - Refurbish
$0
$0
$0
$0
$0
1202 Pool - Resurface
$0
$0
$0
$0
$17,158
1203 Spa - Resurface
$0
$0
$0
$0
$4,567
1203 Wading Pool - Resurface
$0
$0
$0
$0
$5,871
1207 Pool Filter - Replace
$0
$0
$0
$0
$0
1207 Spa Filter - Replace
$0
$0
$0
$0
$0
1207 Wading Pool Filter - Replace
$0
$0
$0
$0
$0
1208 Pool Heater - Replace
$0
$0
$4,766
$0
$0
1208 Spa Heater - Replace
$0
$0
$3,997
$0
$0
1208 Wading Pool Heater - Replace
$0
$0
$3,382
$0
$0
1210 Pool/Spa Pump - Replace
$0
$0
$3,444
$0
$0
1821 Wheel Chair Lift - Replace
$0
$10,746
$0
$0
$0
1119 Stucco - Repaint
$0
$0
$196,780
$0
$0
1302 Flat Roof - Replace
$0
$0
$0
$0
$0
2114 Balcony Deck/Rail - Repaint
$0
$0
$0
$0
$20,746
324 Hallway Lights - Replace
$0
$0
$0
$0
$71,045
601 Carpet - Replace
$0
$0
$0
$0
$70,458
603 Tile Floor - Replace
$0
$0
$0
$0
$0
707 Trash Chute Doors - Replace
$0
$0
$0
$0
$0
720 Entry Locks - Replace
$0
$0
$0
$0
$0
909 Bathrooms - Refurbish
$0
$0
$0
$0
$0
910 Activities Room - Remodel
$0
$0
$0
$0
$16,310
910 Admin Offices - Refurbish
$0
$0
$0
$0
$9,133
$13,042
$0
$0
$0
$0
910 Lobby/Rec Room - Remodel (10 Yr)
$0
$0
$0
$0
$114,168
910 Lobby/Rec Room - Remodel (30 Yr)
Pool Area
Buliding Exterior
Building Interior
910 Fitness Room - Remodel
$0
$0
$0
$0
$0
1110 Hallway Surfaces - Repaint
$0
$0
$0
$0
$84,810
1110 Stairwell Surfaces - Repaint
$0
$0
$0
$0
$17,810
103 Concrete/Vinyl Deck(Pool) - Replace
$0
$0
$0
$0
$0
111 Trex Deck (Pool) - Replace
$0
$0
$0
$0
$0
205 Entry Pavers - Repair
$0
$0
$0
$0
$0
206 Colored Concrete - Restain
$0
$0
$0
$0
$10,438
320 Pole Lights - Replace
$0
$0
$0
$0
$0
322 Bollard Lights - Replace
$0
$0
$0
$0
$16,440
324 Wall Lights - Replace
$0
$0
$0
$0
$0
404 Patio Furniture - Replace
$0
$0
$0
$0
$7,339
503 Metal Fence/Rail - Replace
$0
$0
$0
$0
$0
General Common Areas
Association Reserves, Inc.
19
8/10/2011
Table 5: 30-Year Income/Expense Detail (yrs 5 through 9)
Fiscal Year
2017
9999-0VO
2018
2019
2020
2021
1402 Main Entry/Exit Signs - Refurbish
$0
$0
$0
$0
$5,219
1821 Wheel Chair Lift - Replace
$0
$10,746
$0
$0
$0
$262,286
$21,493
$212,368
$19,762
$6,041,785
$4,646,184
$5,904,818
$7,016,113
$8,364,904
$3,723,346
Total Expenses
Ending Reserve Balance:
Association Reserves, Inc.
20
8/10/2011
Table 5: 30-Year Income/Expense Detail (yrs 10 through 14)
Fiscal Year
9999-0VO
2022
2023
2024
2025
2026
Starting Reserve Balance
$3,723,346
$5,148,233
$6,032,431
$7,563,462
$9,124,224
Annual Reserve Contribution
$1,411,112
$1,453,446
$1,497,049
$1,541,960
$1,588,219
Planned Special Assessments
$0
$0
$0
$0
$0
$22,174
$27,946
$33,983
$41,710
$39,932
$5,156,632
$6,629,624
$7,563,462
$9,147,133
$10,752,376
2101 Interior - Repaint
$0
$0
$0
$0
$335,190
2102 Doors/Windows - Replace
$0
$0
$0
$0
$0
2103 Carpet Replace - Replace
$0
$0
$0
$0
$489,928
2104 Tile - Replace
$0
$0
$0
$0
$217,359
2105 Kitchen/Laundry Eqp - Replace
$0
$0
$0
$0
$345,627
2106 Microwaves - Replace
$0
$0
$0
$0
$42,504
2107 Lighting (20 Year) - Replace
$0
$0
$0
$0
$0
2108 Lighting (10 Year) - Replace
$0
$0
$0
$0
$0
2109 Kitchen Millwork/Sink - Replace
$0
$0
$0
$0
$0
2110 Bathroom - Refurbish
$0
$0
$0
$0
$0
2111 Art/Accessories - Replace
$0
$0
$0
$0
$346,232
2113 HVAC - Replace
$0
$0
$0
$0
$0
2115 Balcony Furniture - Replace
$0
$0
$0
$22,909
$0
2116 Entertainment - Replace
$0
$297,610
$0
$0
$0
2117 Furniture (Soft Goods) - Replace
$0
$0
$0
$0
$796,681
2118 Furniture (Hard Goods) - Replace
$0
$0
$0
$0
$0
2119 Window Treatments - Replace
$0
$0
$0
$0
$817,857
2120 Bedding - Replace
$0
$0
$0
$0
$123,125
2121 Wall Safe - Replace
$0
$0
$0
$0
$34,033
Interest Earnings
Total Income
# Component
Villa Interiors (100 units)
Major Mechanical
302 Generator - Replace
$0
$0
$0
$0
$0
304 HVAC Controller - Replace
$0
$32,668
$0
$0
$0
308 Air Vent System - Replace
$0
$0
$0
$0
$0
308 Gravity Vent System - Replace
$0
$0
$0
$0
$0
309 Closed Circuit Coolers - Repair
$0
$0
$0
$0
$0
309 Closed Circuit Coolers - Replace
$0
$0
$0
$0
$0
311 Air Handler - Replace
$0
$0
$0
$0
$0
312 Domestic Water Pumps - Replace
$0
$32,876
$0
$0
$0
312 Fire Pump/Engine - Replace
$0
$0
$0
$0
$0
312 Water Pumps (Roof) - Replace
$0
$0
$0
$0
$0
327 Laundry Equipment - Replace
$0
$0
$0
$0
$0
801 Boilers - Replace
$0
$0
$0
$0
$0
803 Water Storage Tanks - Replace
$0
$0
$0
$0
$0
810 Water Filter System - Replace
$0
$9,690
$0
$0
$0
1801 Elevator - Modernize
$0
$0
$0
$0
$0
1802 Elevator Cab - Remodel
$0
$0
$0
$0
$0
1803 Fire Control System - Replace
$0
$0
$0
$0
$0
1806 Radiant Space Heaters - Replace
$0
$0
$0
$0
$0
Association Reserves, Inc.
21
8/10/2011
Table 5: 30-Year Income/Expense Detail (yrs 10 through 14)
Fiscal Year
9999-0VO
2022
2023
2024
2025
2026
324 Wall Lights - Replace
$0
$2,180
$0
$0
$0
404 Pool Furniture - Replace
$0
$0
$0
$0
$35,697
503 Metal Fence/Rail (Pool) - Replace
$0
$0
$0
$0
$0
909 Bathrooms (Pool) - Refurbish
$0
$11,766
$0
$0
$0
1202 Pool - Resurface
$0
$0
$0
$0
$0
1203 Spa - Resurface
$0
$0
$0
$0
$5,294
1203 Wading Pool - Resurface
$0
$0
$0
$0
$6,807
1207 Pool Filter - Replace
$0
$3,115
$0
$0
$0
1207 Spa Filter - Replace
$0
$3,115
$0
$0
$0
1207 Wading Pool Filter - Replace
$0
$3,115
$0
$0
$0
1208 Pool Heater - Replace
$0
$0
$0
$0
$0
1208 Spa Heater - Replace
$0
$0
$0
$0
$0
1208 Wading Pool Heater - Replace
$0
$0
$0
$0
$0
1210 Pool/Spa Pump - Replace
$0
$0
$0
$0
$0
1821 Wheel Chair Lift - Replace
$0
$0
$0
$0
$0
1119 Stucco - Repaint
$0
$0
$0
$0
$0
1302 Flat Roof - Replace
$0
$167,492
$0
$0
$0
2114 Balcony Deck/Rail - Repaint
$0
$0
$0
$0
$24,050
324 Hallway Lights - Replace
$0
$0
$0
$0
$0
601 Carpet - Replace
$0
$0
$0
$0
$81,680
603 Tile Floor - Replace
$0
$0
$0
$0
$0
707 Trash Chute Doors - Replace
$0
$0
$0
$0
$0
720 Entry Locks - Replace
$0
$0
$0
$0
$60,504
909 Bathrooms - Refurbish
$0
$17,995
$0
$0
$0
910 Activities Room - Remodel
$0
$0
$0
$0
$18,907
910 Admin Offices - Refurbish
$0
$0
$0
$0
$0
910 Fitness Room - Remodel
$0
$15,573
$0
$0
$0
910 Lobby/Rec Room - Remodel (10 Yr)
$0
$0
$0
$0
$0
910 Lobby/Rec Room - Remodel (30 Yr)
$0
$0
$0
$0
$0
1110 Hallway Surfaces - Repaint
$0
$0
$0
$0
$98,318
1110 Stairwell Surfaces - Repaint
$0
$0
$0
$0
$0
103 Concrete/Vinyl Deck(Pool) - Replace
$0
$0
$0
$0
$0
111 Trex Deck (Pool) - Replace
$0
$0
$0
$0
$0
$8,399
$0
$0
$0
$0
206 Colored Concrete - Restain
$0
$0
$0
$0
$12,101
320 Pole Lights - Replace
$0
$0
$0
$0
$0
322 Bollard Lights - Replace
$0
$0
$0
$0
$0
324 Wall Lights - Replace
$0
$0
$0
$0
$0
404 Patio Furniture - Replace
$0
$0
$0
$0
$8,508
503 Metal Fence/Rail - Replace
$0
$0
$0
$0
$0
Pool Area
Buliding Exterior
Building Interior
General Common Areas
205 Entry Pavers - Repair
Association Reserves, Inc.
22
8/10/2011
Table 5: 30-Year Income/Expense Detail (yrs 10 through 14)
Fiscal Year
9999-0VO
2022
2023
2024
2025
2026
1402 Main Entry/Exit Signs - Refurbish
$0
$0
$0
$0
$0
1821 Wheel Chair Lift - Replace
$0
$0
$0
$0
$0
$8,399
$597,193
$0
$22,909
$3,900,402
$5,148,233
$6,032,431
$7,563,462
$9,124,224
$6,851,974
Total Expenses
Ending Reserve Balance:
Association Reserves, Inc.
23
8/10/2011
Table 5: 30-Year Income/Expense Detail (yrs 15 through 19)
Fiscal Year
9999-0VO
2027
2028
2029
2030
2031
Starting Reserve Balance
$6,851,974
$8,256,581
$9,977,068
$11,392,013
$13,183,792
Annual Reserve Contribution
$1,635,866
$1,684,942
$1,735,490
$1,787,555
$1,841,181
Planned Special Assessments
$0
$0
$0
$0
$0
$37,763
$45,575
$53,411
$61,427
$42,360
$8,525,603
$9,987,097
$11,765,969
$13,240,994
$15,067,333
2101 Interior - Repaint
$0
$0
$0
$0
$388,577
2102 Doors/Windows - Replace
$0
$0
$0
$0
$1,841,532
2103 Carpet Replace - Replace
$0
$0
$0
$0
$567,961
2104 Tile - Replace
$0
$0
$0
$0
$0
2105 Kitchen/Laundry Eqp - Replace
$0
$0
$0
$0
$0
2106 Microwaves - Replace
$0
$0
$0
$0
$49,274
2107 Lighting (20 Year) - Replace
$0
$0
$0
$0
$92,059
2108 Lighting (10 Year) - Replace
$0
$0
$0
$0
$452,054
2109 Kitchen Millwork/Sink - Replace
$0
$0
$0
$0
$686,848
2110 Bathroom - Refurbish
$0
$0
$0
$0
$1,364,228
2111 Art/Accessories - Replace
$0
$0
$0
$0
$401,378
2113 HVAC - Replace
$0
$0
$0
$0
$466,871
2115 Balcony Furniture - Replace
$0
$0
$0
$26,558
$0
2116 Entertainment - Replace
$0
$0
$355,362
$0
$0
2117 Furniture (Soft Goods) - Replace
$0
$0
$0
$0
$923,572
2118 Furniture (Hard Goods) - Replace
$0
$0
$0
$0
$1,357,214
2119 Window Treatments - Replace
$0
$0
$0
$0
$948,121
2120 Bedding - Replace
$0
$0
$0
$0
$142,735
2121 Wall Safe - Replace
$0
$0
$0
$0
$0
302 Generator - Replace
$0
$0
$0
$0
$0
304 HVAC Controller - Replace
$0
$0
$0
$0
$0
308 Air Vent System - Replace
$0
$0
$0
$0
$0
308 Gravity Vent System - Replace
$0
$0
$0
$0
$7,891
309 Closed Circuit Coolers - Repair
$0
$0
$0
$0
$70,140
309 Closed Circuit Coolers - Replace
$0
$0
$0
$0
$0
311 Air Handler - Replace
$0
$0
$0
$0
$482,214
312 Domestic Water Pumps - Replace
$0
$0
$0
$0
$0
312 Fire Pump/Engine - Replace
$0
$0
$0
$0
$0
312 Water Pumps (Roof) - Replace
$0
$0
$0
$0
$45,591
327 Laundry Equipment - Replace
$0
$0
$0
$0
$23,672
801 Boilers - Replace
$0
$0
$0
$0
$63,126
803 Water Storage Tanks - Replace
$0
$0
$0
$0
$13,151
810 Water Filter System - Replace
$0
$0
$0
$0
$0
1801 Elevator - Modernize
$0
$0
$0
$0
$0
1802 Elevator Cab - Remodel
$0
$0
$0
$0
$49,975
1803 Fire Control System - Replace
$0
$0
$0
$0
$0
1806 Radiant Space Heaters - Replace
$0
$0
$0
$0
$5,699
Interest Earnings
Total Income
# Component
Villa Interiors (100 units)
Major Mechanical
Association Reserves, Inc.
24
8/10/2011
Table 5: 30-Year Income/Expense Detail (yrs 15 through 19)
Fiscal Year
9999-0VO
2027
2028
2029
2030
2031
324 Wall Lights - Replace
$0
$0
$0
$0
$0
404 Pool Furniture - Replace
$0
$0
$0
$0
$41,383
503 Metal Fence/Rail (Pool) - Replace
$0
$0
$0
$0
$0
909 Bathrooms (Pool) - Refurbish
$0
$0
$0
$0
$0
1202 Pool - Resurface
$0
$0
$0
$0
$23,059
1203 Spa - Resurface
$0
$0
$0
$0
$6,137
1203 Wading Pool - Resurface
$0
$0
$0
$0
$7,891
1207 Pool Filter - Replace
$0
$0
$0
$0
$0
1207 Spa Filter - Replace
$0
$0
$0
$0
$0
1207 Wading Pool Filter - Replace
$0
$0
$0
$0
$0
1208 Pool Heater - Replace
$6,037
$0
$0
$0
$0
1208 Spa Heater - Replace
$5,063
$0
$0
$0
$0
1208 Wading Pool Heater - Replace
$4,284
$0
$0
$0
$0
1210 Pool/Spa Pump - Replace
$4,362
$0
$0
$0
$0
1821 Wheel Chair Lift - Replace
$0
$0
$0
$15,322
$0
$249,275
$0
$0
$0
$0
1302 Flat Roof - Replace
$0
$0
$0
$0
$0
2114 Balcony Deck/Rail - Repaint
$0
$0
$0
$0
$27,881
324 Hallway Lights - Replace
$0
$0
$0
$0
$95,478
601 Carpet - Replace
$0
$0
$0
$0
$94,689
603 Tile Floor - Replace
$0
$0
$0
$0
$0
707 Trash Chute Doors - Replace
$0
$0
$0
$0
$0
720 Entry Locks - Replace
$0
$0
$0
$0
$0
909 Bathrooms - Refurbish
$0
$0
$0
$0
$0
910 Activities Room - Remodel
$0
$0
$0
$0
$21,919
910 Admin Offices - Refurbish
$0
$0
$0
$0
$12,275
910 Fitness Room - Remodel
$0
$0
$18,595
$0
$0
910 Lobby/Rec Room - Remodel (10 Yr)
$0
$0
$0
$0
$153,432
910 Lobby/Rec Room - Remodel (30 Yr)
Pool Area
Buliding Exterior
1119 Stucco - Repaint
Building Interior
$0
$0
$0
$0
$0
1110 Hallway Surfaces - Repaint
$0
$0
$0
$0
$113,978
1110 Stairwell Surfaces - Repaint
$0
$0
$0
$0
$0
103 Concrete/Vinyl Deck(Pool) - Replace
$0
$0
$0
$0
$61,373
111 Trex Deck (Pool) - Replace
$0
$0
$0
$0
$128,883
205 Entry Pavers - Repair
$0
$10,029
$0
$0
$0
206 Colored Concrete - Restain
$0
$0
$0
$0
$14,028
320 Pole Lights - Replace
$0
$0
$0
$0
$9,206
322 Bollard Lights - Replace
$0
$0
$0
$0
$22,094
324 Wall Lights - Replace
$0
$0
$0
$0
$9,206
404 Patio Furniture - Replace
$0
$0
$0
$0
$9,863
503 Metal Fence/Rail - Replace
$0
$0
$0
$0
$0
General Common Areas
Association Reserves, Inc.
25
8/10/2011
Table 5: 30-Year Income/Expense Detail (yrs 15 through 19)
Fiscal Year
9999-0VO
2027
2028
2029
1402 Main Entry/Exit Signs - Refurbish
$0
$0
1821 Wheel Chair Lift - Replace
$0
$0
$269,022
$8,256,581
Total Expenses
Ending Reserve Balance:
Association Reserves, Inc.
26
2030
2031
$0
$0
$7,014
$0
$15,322
$0
$10,029
$373,957
$57,202
$11,303,670
$9,977,068
$11,392,013
$13,183,792
$3,763,663
8/10/2011
Table 5: 30-Year Income/Expense Detail (yrs 20 through 24)
Fiscal Year
9999-0VO
2032
2033
2034
2035
2036
Starting Reserve Balance
$3,763,663
$5,683,694
$7,670,381
$9,713,765
$10,613,808
Annual Reserve Contribution
$1,896,417
$1,953,309
$2,011,909
$2,072,266
$2,134,434
Planned Special Assessments
$0
$0
$0
$0
$0
$23,613
$33,378
$43,451
$50,808
$43,628
$5,683,694
$7,670,381
$9,725,741
$11,836,839
$12,791,870
2101 Interior - Repaint
$0
$0
$0
$0
$450,467
2102 Doors/Windows - Replace
$0
$0
$0
$0
$0
2103 Carpet Replace - Replace
$0
$0
$0
$0
$658,422
2104 Tile - Replace
$0
$0
$0
$0
$0
2105 Kitchen/Laundry Eqp - Replace
$0
$0
$0
$0
$0
2106 Microwaves - Replace
$0
$0
$0
$0
$57,122
2107 Lighting (20 Year) - Replace
$0
$0
$0
$0
$0
2108 Lighting (10 Year) - Replace
$0
$0
$0
$0
$0
2109 Kitchen Millwork/Sink - Replace
$0
$0
$0
$0
$0
2110 Bathroom - Refurbish
$0
$0
$0
$0
$0
2111 Art/Accessories - Replace
$0
$0
$0
$0
$465,307
2113 HVAC - Replace
$0
$0
$0
$0
$0
2115 Balcony Furniture - Replace
$0
$0
$0
$30,788
$0
2116 Entertainment - Replace
$0
$0
$0
$424,321
$0
2117 Furniture (Soft Goods) - Replace
$0
$0
$0
$0
$1,070,673
2118 Furniture (Hard Goods) - Replace
$0
$0
$0
$0
$0
2119 Window Treatments - Replace
$0
$0
$0
$0
$1,099,132
2120 Bedding - Replace
$0
$0
$0
$0
$165,469
2121 Wall Safe - Replace
$0
$0
$0
$0
$0
302 Generator - Replace
$0
$0
$0
$0
$0
304 HVAC Controller - Replace
$0
$0
$0
$46,577
$0
308 Air Vent System - Replace
$0
$0
$0
$0
$36,590
308 Gravity Vent System - Replace
$0
$0
$0
$0
$0
309 Closed Circuit Coolers - Repair
$0
$0
$0
$0
$0
309 Closed Circuit Coolers - Replace
$0
$0
$0
$0
$0
311 Air Handler - Replace
$0
$0
$0
$0
$0
312 Domestic Water Pumps - Replace
$0
$0
$0
$46,873
$0
312 Fire Pump/Engine - Replace
$0
$0
$0
$0
$71,148
312 Water Pumps (Roof) - Replace
$0
$0
$0
$0
$0
327 Laundry Equipment - Replace
$0
$0
$0
$0
$0
801 Boilers - Replace
$0
$0
$0
$0
$0
803 Water Storage Tanks - Replace
$0
$0
$0
$0
$0
810 Water Filter System - Replace
$0
$0
$0
$13,815
$0
1801 Elevator - Modernize
$0
$0
$0
$0
$838,528
1802 Elevator Cab - Remodel
$0
$0
$0
$0
$0
1803 Fire Control System - Replace
$0
$0
$0
$0
$127,050
1806 Radiant Space Heaters - Replace
$0
$0
$0
$0
$0
Interest Earnings
Total Income
# Component
Villa Interiors (100 units)
Major Mechanical
Association Reserves, Inc.
27
8/10/2011
Table 5: 30-Year Income/Expense Detail (yrs 20 through 24)
Fiscal Year
9999-0VO
2032
2033
2034
2035
2036
324 Wall Lights - Replace
$0
$0
$0
$3,108
$0
404 Pool Furniture - Replace
$0
$0
$0
$0
$47,974
503 Metal Fence/Rail (Pool) - Replace
$0
$0
$0
$0
$46,246
909 Bathrooms (Pool) - Refurbish
$0
$0
$0
$16,775
$0
1202 Pool - Resurface
$0
$0
$0
$0
$0
1203 Spa - Resurface
$0
$0
$0
$0
$7,115
1203 Wading Pool - Resurface
$0
$0
$0
$0
$9,148
1207 Pool Filter - Replace
$0
$0
$0
$4,441
$0
1207 Spa Filter - Replace
$0
$0
$0
$4,441
$0
1207 Wading Pool Filter - Replace
$0
$0
$0
$4,441
$0
1208 Pool Heater - Replace
$0
$0
$0
$7,648
$0
1208 Spa Heater - Replace
$0
$0
$0
$6,414
$0
1208 Wading Pool Heater - Replace
$0
$0
$0
$5,427
$0
1210 Pool/Spa Pump - Replace
$0
$0
$0
$5,526
$0
1821 Wheel Chair Lift - Replace
$0
$0
$0
$0
$0
1119 Stucco - Repaint
$0
$0
$0
$315,774
$0
1302 Flat Roof - Replace
$0
$0
$0
$238,804
$0
2114 Balcony Deck/Rail - Repaint
$0
$0
$0
$0
$32,321
324 Hallway Lights - Replace
$0
$0
$0
$0
$0
601 Carpet - Replace
$0
$0
$0
$0
$109,771
603 Tile Floor - Replace
$0
$0
$0
$0
$67,082
707 Trash Chute Doors - Replace
$0
$0
$0
$0
$17,279
720 Entry Locks - Replace
$0
$0
$0
$0
$0
909 Bathrooms - Refurbish
$0
$0
$0
$25,657
$0
910 Activities Room - Remodel
$0
$0
$0
$0
$25,410
910 Admin Offices - Refurbish
$0
$0
$0
$0
$0
910 Fitness Room - Remodel
$0
$0
$0
$22,203
$0
910 Lobby/Rec Room - Remodel (10 Yr)
$0
$0
$0
$0
$0
910 Lobby/Rec Room - Remodel (30 Yr)
$0
$0
$0
$0
$0
1110 Hallway Surfaces - Repaint
$0
$0
$0
$0
$132,132
1110 Stairwell Surfaces - Repaint
$0
$0
$0
$0
$27,748
103 Concrete/Vinyl Deck(Pool) - Replace
$0
$0
$0
$0
$0
111 Trex Deck (Pool) - Replace
$0
$0
$0
$0
$0
205 Entry Pavers - Repair
$0
$0
$11,976
$0
$0
206 Colored Concrete - Restain
$0
$0
$0
$0
$16,262
320 Pole Lights - Replace
$0
$0
$0
$0
$0
322 Bollard Lights - Replace
$0
$0
$0
$0
$0
324 Wall Lights - Replace
$0
$0
$0
$0
$0
404 Patio Furniture - Replace
$0
$0
$0
$0
$11,434
503 Metal Fence/Rail - Replace
$0
$0
$0
$0
$360,821
Pool Area
Buliding Exterior
Building Interior
General Common Areas
Association Reserves, Inc.
28
8/10/2011
Table 5: 30-Year Income/Expense Detail (yrs 20 through 24)
Fiscal Year
9999-0VO
2032
2033
2034
2035
2036
1402 Main Entry/Exit Signs - Refurbish
$0
$0
$0
$0
$0
1821 Wheel Chair Lift - Replace
$0
$0
$0
$0
$0
$0
$0
$11,976
$1,223,032
$5,950,649
$5,683,694
$7,670,381
$9,713,765
$10,613,808
$6,841,221
Total Expenses
Ending Reserve Balance:
Association Reserves, Inc.
29
8/10/2011
Table 5: 30-Year Income/Expense Detail (yrs 25 through 29)
Fiscal Year
9999-0VO
2037
2038
2039
2040
2041
Starting Reserve Balance
$6,841,221
$9,079,481
$11,395,078
$13,790,381
$16,217,719
Annual Reserve Contribution
$2,198,467
$2,264,421
$2,332,353
$2,402,324
$2,474,394
Planned Special Assessments
$0
$0
$0
$0
$0
$39,793
$51,176
$62,950
$75,004
$54,021
$9,079,481
$11,395,078
$13,790,381
$16,267,710
$18,746,134
2101 Interior - Repaint
$0
$0
$0
$0
$522,215
2102 Doors/Windows - Replace
$0
$0
$0
$0
$0
2103 Carpet Replace - Replace
$0
$0
$0
$0
$763,292
2104 Tile - Replace
$0
$0
$0
$0
$338,638
2105 Kitchen/Laundry Eqp - Replace
$0
$0
$0
$0
$538,475
2106 Microwaves - Replace
$0
$0
$0
$0
$66,219
2107 Lighting (20 Year) - Replace
$0
$0
$0
$0
$0
2108 Lighting (10 Year) - Replace
$0
$0
$0
$0
$607,523
2109 Kitchen Millwork/Sink - Replace
$0
$0
$0
$0
$923,067
2110 Bathroom - Refurbish
$0
$0
$0
$0
$1,833,408
2111 Art/Accessories - Replace
$0
$0
$0
$0
$539,418
2113 HVAC - Replace
$0
$0
$0
$0
$0
2115 Balcony Furniture - Replace
$0
$0
$0
$35,692
$0
2116 Entertainment - Replace
$0
$0
$0
$0
$506,662
2117 Furniture (Soft Goods) - Replace
$0
$0
$0
$0
$1,241,203
2118 Furniture (Hard Goods) - Replace
$0
$0
$0
$0
$1,823,982
2119 Window Treatments - Replace
$0
$0
$0
$0
$1,274,195
2120 Bedding - Replace
$0
$0
$0
$0
$191,824
2121 Wall Safe - Replace
$0
$0
$0
$0
$53,023
302 Generator - Replace
$0
$0
$0
$0
$206,199
304 HVAC Controller - Replace
$0
$0
$0
$0
$0
308 Air Vent System - Replace
$0
$0
$0
$0
$0
308 Gravity Vent System - Replace
$0
$0
$0
$0
$0
309 Closed Circuit Coolers - Repair
$0
$0
$0
$0
$94,263
309 Closed Circuit Coolers - Replace
$0
$0
$0
$0
$530,227
311 Air Handler - Replace
$0
$0
$0
$0
$0
312 Domestic Water Pumps - Replace
$0
$0
$0
$0
$0
312 Fire Pump/Engine - Replace
$0
$0
$0
$0
$0
312 Water Pumps (Roof) - Replace
$0
$0
$0
$0
$0
327 Laundry Equipment - Replace
$0
$0
$0
$0
$31,814
801 Boilers - Replace
$0
$0
$0
$0
$0
803 Water Storage Tanks - Replace
$0
$0
$0
$0
$17,674
810 Water Filter System - Replace
Interest Earnings
Total Income
# Component
Villa Interiors (100 units)
Major Mechanical
$0
$0
$0
$0
$0
1801 Elevator - Modernize
$0
$0
$0
$0
$0
1802 Elevator Cab - Remodel
$0
$0
$0
$0
$67,162
1803 Fire Control System - Replace
$0
$0
$0
$0
$0
1806 Radiant Space Heaters - Replace
$0
$0
$0
$0
$7,659
Association Reserves, Inc.
30
8/10/2011
Table 5: 30-Year Income/Expense Detail (yrs 25 through 29)
Fiscal Year
9999-0VO
2037
2038
2039
2040
2041
324 Wall Lights - Replace
$0
$0
$0
$0
$0
404 Pool Furniture - Replace
$0
$0
$0
$0
$55,615
503 Metal Fence/Rail (Pool) - Replace
$0
$0
$0
$0
$0
909 Bathrooms (Pool) - Refurbish
$0
$0
$0
$0
$0
1202 Pool - Resurface
$0
$0
$0
$0
$30,989
1203 Spa - Resurface
$0
$0
$0
$0
$8,248
1203 Wading Pool - Resurface
$0
$0
$0
$0
$10,605
1207 Pool Filter - Replace
$0
$0
$0
$0
$0
1207 Spa Filter - Replace
$0
$0
$0
$0
$0
1207 Wading Pool Filter - Replace
$0
$0
$0
$0
$0
1208 Pool Heater - Replace
$0
$0
$0
$0
$0
1208 Spa Heater - Replace
$0
$0
$0
$0
$0
1208 Wading Pool Heater - Replace
$0
$0
$0
$0
$0
1210 Pool/Spa Pump - Replace
$0
$0
$0
$0
$0
1821 Wheel Chair Lift - Replace
$0
$0
$0
$0
$0
1119 Stucco - Repaint
$0
$0
$0
$0
$0
1302 Flat Roof - Replace
$0
$0
$0
$0
$0
2114 Balcony Deck/Rail - Repaint
$0
$0
$0
$0
$37,469
324 Hallway Lights - Replace
$0
$0
$0
$0
$128,315
601 Carpet - Replace
$0
$0
$0
$0
$127,255
603 Tile Floor - Replace
$0
$0
$0
$0
$0
707 Trash Chute Doors - Replace
$0
$0
$0
$0
$0
720 Entry Locks - Replace
$0
$0
$0
$0
$94,263
909 Bathrooms - Refurbish
$0
$0
$0
$0
$0
910 Activities Room - Remodel
$0
$0
$0
$0
$29,457
910 Admin Offices - Refurbish
$0
$0
$0
$0
$16,496
910 Fitness Room - Remodel
$0
$0
$0
$0
$26,511
910 Lobby/Rec Room - Remodel (10 Yr)
$0
$0
$0
$0
$206,199
910 Lobby/Rec Room - Remodel (30 Yr)
Pool Area
Buliding Exterior
Building Interior
$0
$0
$0
$0
$176,742
1110 Hallway Surfaces - Repaint
$0
$0
$0
$0
$153,177
1110 Stairwell Surfaces - Repaint
$0
$0
$0
$0
$0
103 Concrete/Vinyl Deck(Pool) - Replace
$0
$0
$0
$0
$0
111 Trex Deck (Pool) - Replace
$0
$0
$0
$0
$0
205 Entry Pavers - Repair
$0
$0
$0
$14,300
$0
206 Colored Concrete - Restain
$0
$0
$0
$0
$18,853
320 Pole Lights - Replace
$0
$0
$0
$0
$0
322 Bollard Lights - Replace
$0
$0
$0
$0
$29,693
324 Wall Lights - Replace
$0
$0
$0
$0
$0
404 Patio Furniture - Replace
$0
$0
$0
$0
$13,256
503 Metal Fence/Rail - Replace
$0
$0
$0
$0
$0
General Common Areas
Association Reserves, Inc.
31
8/10/2011
Table 5: 30-Year Income/Expense Detail (yrs 25 through 29)
Fiscal Year
9999-0VO
2037
2038
2039
2040
2041
1402 Main Entry/Exit Signs - Refurbish
$0
$0
$0
$0
$9,426
1821 Wheel Chair Lift - Replace
$0
$0
$0
$0
$0
$0
$0
$0
$49,991
$13,350,709
$9,079,481
$11,395,078
$13,790,381
$16,217,719
$5,395,425
Total Expenses
Ending Reserve Balance:
Association Reserves, Inc.
32
8/10/2011
Assoc. 9999-0VO
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, Inc., and its employees have no ownership, management, or
other business relationships with the client other than this Reserve Study engagement.
Robert M. Nordlund, P.E., R.S., company president, is a California licensed
Professional Engineer (Mechanical, #22322), and credentialed Reserve Specialist (#5).
All work done by Association Reserves 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, Inc.
33
8/10/2011
Assoc. 9999-0VO
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, Inc.
34
8/10/2011
Assoc. 9999-0VO
Photographic Inventory Appendix
Association Reserves, Inc.
35
8/10/2011
Sample Vacation Ownership
Unit Interiors (100 units)
Association Reserves, Inc.
Association Reserves
Inventory Appendix
9999VA
Client: 9999VA Unit Interiors (100 units)
Comp #:
2101 Interior - Repaint
Quantity: Extensive GSF
Location: Unit interior walls, ceiling, painted surfaces
Evaluation: Overall in good condition. Paint has a nice, new color and finish. Minor speckling or scuffing was noted. Cycle
with Soft Goods - Replace (#2117).
Useful Life:
5 years
Remaining Life:
4 years
Best Case: $200,100.00
Worst Case: $243,100.00
Estimate to repaint, including materials
Higher estimate
Cost Source: ARI Cost Database
Comp #:
2102 Doors/Windows - Replace
Quantity: (100) Units
Location: Throughout each unit
Evaluation: Appear to all be functional and in good condition. No signs of malfunction or deterioration. No reported
problems.
Useful Life:
20 years
Remaining Life:
19 years
Best Case: $1,000,200.00
Worst Case: $1,100,200.00
Estimate to replace
Higher Estimate
Cost Source: ARI Cost Database
August 09,2011
Page 1 of 10
Association Reserves
Inventory Appendix
9999VA
Client: 9999VA Unit Interiors (100 units)
Comp #:
2103 Carpet Replace - Replace
Quantity: Extensive GSY
Location: Floors throughout each unit
Evaluation: Good physical condition but minor workmanship problems. Signs of fraying at the edges and seams were
noticed. Expect installer to return and resolve any outstanding issues. Generally in good/fair condition. Cycle
with Interior - Repaint (#2101).
Useful Life:
5 years
Remaining Life:
4 years
Best Case: $300,400.00
Worst Case: $347,400.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
Comp #:
2104 Tile - Replace
Quantity: Extensive GSF
Location: Floors throughout each unit
Evaluation: Nice, clean, newer appearance. Grout lines are clean and good. No chipping, scuffing, or signs of wear.
Overall in good condition.
Useful Life:
15 years
Remaining Life:
14 years
Best Case: $120,200.00
Worst Case: $167,200.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 2 of 10
Association Reserves
Inventory Appendix
9999VA
Client: 9999VA Unit Interiors (100 units)
Comp #:
2105 Kitchen/Laundry Eqp - Replace
Quantity: (100) Units
Location: Kitchen/Laundry area
Evaluation: Equipment is all GE appliances in newer, nice condition. No indications of heavy wear or malfunction at this
time. Cycle with Kitchen - Replace (#2109).
Useful Life:
15 years
Remaining Life:
14 years
Best Case: $207,000.00
Worst Case: $250,000.00
Estimate to replace fridge, washer/dryer stack, etc.
Higher estimate
Cost Source: ARI Cost Database
Comp #:
2106 Microwaves - Replace
Quantity: (100) Microwaves
Location: Kitchen within each unit
Evaluation: GE appliances, newer, nice, functional. No reported problems. Cycle with Kitchen - Replace (#2109).
Useful Life:
5 years
Remaining Life:
4 years
Best Case: $23,100.00
Worst Case: $33,100.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 3 of 10
Association Reserves
Inventory Appendix
9999VA
Client: 9999VA Unit Interiors (100 units)
Comp #:
2107 Lighting (20 Year) - Replace
Quantity: Numerous Lights
Location: Built in ceiling lights
Evaluation: Can lights are in good condition. Assume all are functional with no reported problems. Expect a long useful life.
Useful Life:
20 years
Remaining Life:
19 years
Best Case: $45,000.00
Worst Case: $60,000.00
Estimate to replace built-in lights
Higher estimate
Cost Source: ARI Cost Database
Comp #:
2108 Lighting (10 Year) - Replace
Quantity: (100) Units
Location: Non built in lights throughout each unit
Evaluation: These decorative lights vary in age, style, and use. Overall in good condition and assume all are functional. No
reported problems; expect a long useful life.
Useful Life:
10 years
Remaining Life:
9 years
Best Case: $230,000.00
Worst Case: $285,600.00
Estimate to replace chandelier, table lamps, floor
lamps, etc.
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 4 of 10
Association Reserves
Inventory Appendix
9999VA
Client: 9999VA Unit Interiors (100 units)
Comp #:
2109 Kitchen Millwork/Sink - Replace
Quantity: (100) Units
Location: Kitchen counters, cabinets, etc in each unit
Evaluation: Granite countertops are nice quality and durability material revealing no heavy wear or scratching. Cabinetry is
a lower grade material that is fair in appearance. Material is generally okay, but will not last the entire useful life.
Overall functional condition.
Useful Life:
10 years
Remaining Life:
9 years
Best Case: $345,000.00
Worst Case: $438,400.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
Comp #:
2110 Bathroom - Refurbish
Quantity: (100) Units
Location: Bathroom(s) within each unit
Evaluation: Overall in good/fair condition. Cabinetry is showing signs of wear with fraying on the edges. Minor chips were
also showing, primarily down at foot level. Fixtures are still in good condition with no rusting or deterioration
noted.
Useful Life:
10 years
Remaining Life:
9 years
Best Case: $743,000.00
Worst Case: $813,000.00
Estimate to refurbish
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 5 of 10
Association Reserves
Inventory Appendix
9999VA
Client: 9999VA Unit Interiors (100 units)
Comp #:
2111 Art/Accessories - Replace
Quantity: Paintings, Pictures, Etc
Location: Walls and furniture throughout each unit
Evaluation: Décor varies in style & size. Overall in good condition and functional. Recommend cycling with Interior - Repaint
(#2101) to preserve the aesthetic appearance.
Useful Life:
5 years
Remaining Life:
4 years
Best Case: $207,400.00
Worst Case: $250,400.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
Comp #:
2113 HVAC - Replace
Quantity: (100) Units
Location: Kitchen closet
Evaluation: Trane, individual units, protected. Overall appearance in good, functional condition. No signs of malfunction or
heavy wear. Appear to be aging normally. Expect full useful life.
Useful Life:
20 years
Remaining Life:
19 years
Best Case: $250,000.00
Worst Case: $282,500.00
Estimate to replace furnace, thermostat, etc.
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 6 of 10
Association Reserves
Inventory Appendix
9999VA
Client: 9999VA Unit Interiors (100 units)
Comp #:
2115 Balcony Furniture - Replace
Quantity: (100) Units
Location: Furniture located on each balcony
Evaluation: Furniture is good, sturdy, durable material. Nice quality metal chairs and drink table. Overall good condition.
Cycle with Balcony Rail - Repaint (#2114).
Useful Life:
5 years
Remaining Life:
3 years
Best Case: $13,500.00
Worst Case: $17,700.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
Comp #:
2116 Entertainment - Replace
Quantity: TV's, DVD, Stereo, Etc.
Location: Various rooms throughout each unit
Evaluation: Newer thin-screen TV's in all rooms, varying in size. Overall in good, functional condition. No reported problems
or malfunctions.
Useful Life:
6 years
Remaining Life:
5 years
Best Case: $185,000.00
Worst Case: $245,000.00
Estimate to replace TV's, DVD, Stereo, etc.
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 7 of 10
Association Reserves
Inventory Appendix
9999VA
Client: 9999VA Unit Interiors (100 units)
Comp #:
2117 Furniture (Soft Goods) - Replace
Quantity: Sofas, Upholstered Chairs
Location: Throughout each unit
Evaluation: Overall in good condition with no signs of wrinkling of fabric or fraying of edges. Aesthetically coordinated
throughout each unit. Cycle with Hard Goods - Replace (#2118).
Useful Life:
5 years
Remaining Life:
4 years
Best Case: $495,000.00
Worst Case: $558,400.00
Estimate to replace soft goods
Higher estimate
Cost Source: ARI Cost Database
Comp #:
2118 Furniture (Hard Goods) - Replace
Quantity: Tables, Dressers, Etc.
Location: Throughout each unit
Evaluation: Overall in good condition. Furniture shows a nice finish with no nicks or chips. Cycle with Soft Goods - Replace
(#2117).
Useful Life:
10 years
Remaining Life:
9 years
Best Case: $695,000.00
Worst Case: $853,000.00
Estimate to replace hard goods
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 8 of 10
Association Reserves
Inventory Appendix
9999VA
Client: 9999VA Unit Interiors (100 units)
Comp #:
2119 Window Treatments - Replace
Quantity: (100) units
Location: Windows within each unit
Evaluation: Treatments include curtains and valence. Overall in good condition. No signs of fraying or wear. Cycle with
Bedding - Replace (#2120).
Useful Life:
5 years
Remaining Life:
4 years
Best Case: $500,000.00
Worst Case: $581,400.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
Comp #:
2120 Bedding - Replace
Quantity: Comforter, Shams, Etc.
Location: All beds within a givin unit
Evaluation: Bedding includes mattress and bedspread. Overall in good condition. Pillow top mattress with no loose springs
or heavy use evident. Cycle with Window Treatment - Replace (#2119).
Useful Life:
5 years
Remaining Life:
4 years
Best Case: $72,500.00
Worst Case: $90,300.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 9 of 10
Association Reserves
Inventory Appendix
9999VA
Client: 9999VA Unit Interiors (100 units)
Comp #:
2121 Wall Safe - Replace
Quantity: (100) Wall Safes
Location: Within master bedroom of each unit
Evaluation: Safes are functional and in good condition. No signs of vandalism or malfunction. Expect full useful life.
Useful Life:
15 years
Remaining Life:
14 years
Best Case: $20,000.00
Worst Case: $25,000.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
Comp #:
2122 Small items (Consumables) - Replace
Quantity: Numerous Pieces
Location: Throughout each unit
Evaluation: Goods vary in style, size, age. Overall in good, functional condition. Recommend replacing as needed out of
Operating Funds, not Reserves.
Useful Life:
Remaining Life:
Best Case:
Worst Case:
Cost Source:
August 09,2011
Page 10 of 10
Sample Vacation Ownership
Mechanical
Association Reserves, Inc.
Association Reserves
Inventory Appendix
9999VC
Client: 9999VC Mechanical
Comp #:
302 Generator - Replace
Quantity: (1) Suzuki 300 KVA
Location: Generator room across from the trash room
Evaluation: The generator is in good condition overall. No leaking fluids, batteries appear visually to be in good shape. Only
83 hrs used to date. Operated weekly on an automatic schedule. Assume functional condition, as no problems
have been reported.
Useful Life:
30 years
Remaining Life:
29 years
Best Case: $75,000.00
Worst Case: $100,000.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
Comp #:
304 HVAC Controller - Replace
Quantity: (1) Trane Tracer Summit
Location: Rooftop Mechanical Room
Evaluation: Controller appears to be in good functional condition. No reported problems. This is the main control hub for
HVAC throughout the building.
Useful Life:
12 years
Remaining Life:
11 years
Best Case: $21,500.00
Worst Case: $25,700.00
Cost to replace HVAC control system, installed
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 1 of 9
Association Reserves
Inventory Appendix
9999VC
Client: 9999VC Mechanical
Comp #:
308 Air Vent System - Replace
Quantity: (4) Loren Cook
Location: Rooftop Mechanical Room
Evaluation: These air vent systems specifically handle various areas within the building. Models are (1) 330 CPV, (1) 270
CPV, (1) 245 CPV, and (1) 160 CPV. No reported problems. All areas (housekeeping, hallways, elevators, etc)
appeared to be venting properly.
Useful Life:
25 years
Remaining Life:
24 years
Best Case: $16,000.00
Worst Case: $20,000.00
Cost to replace/repair (4) individual systems,
installed
Higher estimate
Cost Source: ARI Cost Database
Comp #:
308 Gravity Vent System - Replace
Quantity: (1) Cook 48x42 GR
Location: Rooftop
Evaluation: This venting system is designed to use only the air passing over the roof to help circulate air in and out. No
blockage noted, nor problems reported. Overall good condition.
Useful Life:
20 years
Remaining Life:
19 years
Best Case: $4,000.00
Worst Case: $5,000.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 2 of 9
Association Reserves
Inventory Appendix
9999VC
Client: 9999VC Mechanical
Comp #:
309 Closed Circuit Coolers - Repair
Quantity: (2) Evapco
Location: Rooftop mechanical area
Evaluation: These units contain both the chillers and cooling towers for the building. No water leaking or unusual conditions
noted. No reported mechanical issues. This component provides for major mechanical (belts, blades, wiring)
repairs before overall replacement. Model #:LWR-43-1; Marked in-house as CCFC-1 and CCFC-2.
Useful Life:
10 years
Remaining Life:
9 years
Best Case: $30,000.00
Worst Case: $50,000.00
Estimate for major repairs of both units
Higher estimate
Cost Source: ARI Cost Database
Comp #:
309 Closed Circuit Coolers - Replace
Quantity: (2) Evapco
Location: Rooftop mechanical area
Evaluation: No reported problems. No significant rust or corrosion noted. Overall good condition. Model #:LWR-43-1;
Marked in-house as CCFC-1 and CCFC-2.
Useful Life:
30 years
Remaining Life:
29 years
Best Case: $200,000.00
Worst Case: $250,000.00
Estimate to replace (2) Coolers and Pulsatrol
control system
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 3 of 9
Association Reserves
Inventory Appendix
9999VC
Client: 9999VC Mechanical
Comp #:
311 Air Handler - Replace
Quantity: (1) Munters System
Location: Rooftop
Evaluation: No significant rust or corrosion. Filters are replaced regularly. No reported problems. Overall good condition.
Useful Life:
20 years
Remaining Life:
19 years
Best Case: $250,000.00
Worst Case: $300,000.00
Estimate to replace unit and controls, installed
Higher estimate
Cost Source: ARI Cost Database
Comp #:
312 Domestic Water Pumps - Replace
Quantity: (3) Pumps, Control Panel
Location: Housekeeping/Maintenance Basement
Evaluation: No leaks or corrosion noted. Pumps are functional, with no reported problems. Overall good condition. Each
pump is 6.5 HP. Model #:TE-200-82 by Canarriis Corp.
Useful Life:
12 years
Remaining Life:
11 years
Best Case: $20,500.00
Worst Case: $27,000.00
Cost to replace at $6,000/Each, and control panel
at $2,500
Higher estimate at $8,000/Each, and control
panel at $3,000
Cost Source: ARI Cost Database
August 09,2011
Page 4 of 9
Association Reserves
Inventory Appendix
9999VC
Client: 9999VC Mechanical
Comp #:
312 Fire Pump/Engine - Replace
Quantity: (1) 75HP System
Location: Housekeeping/Maintenance Basement
Evaluation: Pump and motor system are in good condition. No leaks or corrosion noted. Motor is a 75 HP Armstrong. Model
#:075360p3e364ts for the motor and Model #: Mp300-75-480c on the pump. No problems to report at this time.
Useful Life:
25 years
Remaining Life:
24 years
Best Case: $30,000.00
Worst Case: $40,000.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
Comp #:
312 Water Pumps (Roof) - Replace
Quantity: (2) Baldor
Location: Mechanical room at rooftop
Evaluation: Heavy duty super-e-motors. 1,770 RPM and 25 HP each. No significant rust or corrosion. Moderate dust and dirt
buildup is normal based on their location near venting equipment. No leaks or problems to report.
Useful Life:
20 years
Remaining Life:
19 years
Best Case: $24,000.00
Worst Case: $28,000.00
Estimate to replace at $12,000/Each
Higher estimate at $14,000/Each
Cost Source: ARI Cost Database
August 09,2011
Page 5 of 9
Association Reserves
Inventory Appendix
9999VC
Client: 9999VC Mechanical
Comp #:
327 Laundry Equipment - Replace
Quantity: (1) Washer, (1) Dryer
Location: Housekeeping/Maintenance Basement
Evaluation: The washer is a Milnor 20lb capacity Model# mwr09e5. Reportedly it is to small too adequately handle washing
normal commercial loads at this site. Expect to replace with a larger unit in the future. Laundry is primarily
handled by an offsite company. Dryers are double stacked Cissell units (Model # ctt30eqtf5g2wo2) and are
functional with no problems to report.
Useful Life:
10 years
Remaining Life:
9 years
Best Case: $12,000.00
Worst Case: $15,000.00
Estimate to replace (1) Dual stack dryer and (1)
Washer both Commercial
Higher estimate
Cost Source: ARI Cost Database
Comp #:
801 Boilers - Replace
Quantity: (2) Raypak,(1) Lochnivar
Location: Rooftop Mechanical Room
Evaluation: Raypak boilers are Model #'s:H3-0749, they are rated at 750,000 BTUs each. The Lochnivar is Model #:
PBN0751, rated at 750,000 BTU. All boilers were in good condition, no significant rust or scale on the interiors.
No reported problems.
Useful Life:
20 years
Remaining Life:
19 years
Best Case: $30,000.00
Worst Case: $42,000.00
Estimate to replace (3) boilers at $10,000/Each
Higher estimate at $14,000/Each
Cost Source: ARI Cost Database
August 09,2011
Page 6 of 9
Association Reserves
Inventory Appendix
9999VC
Client: 9999VC Mechanical
Comp #:
803 Water Storage Tanks - Replace
Quantity: (2) Tanks
Location: Rooftop Mechanical Room
Evaluation: (1) Lochnivar 150 Gal, (1) Wendland 300 Gal. Both tanks were in good condition. No leaks, corrosion, or rust
noted. The Lochnivar tank is directly connected to the Lochnivar Boiler. No expectation to replace the 300 Gal as
this can be re-lined and cleaned many times.
Useful Life:
10 years
Remaining Life:
9 years
Best Case: $6,500.00
Worst Case: $8,500.00
Estimate to replace the 150 Gal and re-line the 300
Gal
Higher estimate
Cost Source: ARI Cost Database
Comp #:
810 Water Filter System - Replace
Quantity: Pentair System
Location: Rooftop Mechanical Room
Evaluation: The water filter/softener system is reportedly functioning well. No leaks or corrosion noted. Overall good
condition. Tank is 30x72 with a date code:031806-1
Useful Life:
12 years
Remaining Life:
11 years
Best Case: $6,000.00
Worst Case: $8,000.00
Cost to replace Tank and Softener controller
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 7 of 9
Association Reserves
Inventory Appendix
9999VC
Client: 9999VC Mechanical
Comp #:
1801 Elevator - Modernize
Quantity: (3) 10-Stop, Hydraulic
Location: Elevator cabs and control room
Evaluation: Elevators all had a smooth ride. No reported functional issues. Overall good condition.
Useful Life:
25 years
Remaining Life:
24 years
Best Case: $375,000.00
Worst Case: $450,000.00
Estimate to modernize at $125,000/Each
Higher estimate at $150,000/Each
Cost Source: ARI Cost Database
Comp #:
1802 Elevator Cab - Remodel
Quantity: (3) Std Cabs
Location: Elevator interiors
Evaluation: Elevator cabs have some minor to moderate wear along the wood paneling as well as the tile flooring. Due to
heavy use it may be necessary to do minor repairs prior to an overall remodel. These repairs should be handled
as needed as an Operating expense.
Useful Life:
10 years
Remaining Life:
9 years
Best Case: $24,000.00
Worst Case: $33,000.00
Estimate to remodel walls, tile, railing, etc.
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 8 of 9
Association Reserves
Inventory Appendix
9999VC
Client: 9999VC Mechanical
Comp #:
1803 Fire Control System - Replace
Quantity: (1) Fire-Lite System
Location: Housekeeping/Maintenance Basement and Elevator Control Room
Evaluation: The fire control system appears to be functioning properly based on the display panel. We are not licensed to
inspect these systems and therefore recommend annual checks/repairs by a licensed professional.
Useful Life:
25 years
Remaining Life:
24 years
Best Case: $50,000.00
Worst Case: $75,000.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
Comp #:
1806 Radiant Space Heaters - Replace
Quantity: Approx (5)Taskmaster
Location: Rooftop Mechanical Room
Evaluation: Radiant space heaters appear to be set up to keep equipment (and people) in the rooftop maintenance room
warm during the colder months. No indications that they will not function properly. Overall good condition based
on age.
Useful Life:
10 years
Remaining Life:
9 years
Best Case: $2,500.00
Worst Case: $4,000.00
Estimate to replace at $500/each, installed
Higher estimate at $800/each
Cost Source: ARI Cost Database
August 09,2011
Page 9 of 9
Sample Vacation Ownership
Pool Area
Association Reserves, Inc.
Association Reserves
Inventory Appendix
9999VD
Client: 9999VD Pool Area
Comp #:
324 Wall Lights - Replace
Quantity: (9) Flood Style
Location: Wall around the rooftop pool area
Evaluation: All lights were intact and appeared to be in good condition. No stained glass or corrosion noted. Overall good
condition.
Useful Life:
12 years
Remaining Life:
11 years
Best Case: $1,350.00
Worst Case: $1,800.00
Estimate to replace at $150/Each, installed
Higher estimate at $200/Each
Cost Source: ARI Cost Database
Comp #:
404 Pool Furniture - Replace
Quantity: Approx (111) Pieces
Location: 6th floor pool area
Evaluation: Minor fading noted on the few pieces exposed to the sun all day. Straps are tight on all chairs and chaise. No
paint chipping or unusual wear noted. Overall good condition. Furniture consists of (49) chairs; (44) chaise; (10)
large tables; (8) small tables.
Useful Life:
5 years
Remaining Life:
4 years
Best Case: $19,400.00
Worst Case: $27,800.00
Estimate to replace at an average of $175/Piece
Higher estimate at an average of $250/Piece
Cost Source: ARI Cost Database
August 09,2011
Page 1 of 8
Association Reserves
Inventory Appendix
9999VD
Client: 9999VD Pool Area
Comp #:
503 Metal Fence/Rail (Pool) - Replace
Quantity: Approx 325 LF
Location: Pool area walkways and perimeter
Evaluation: Due to the fact that the pool sits on the 6th floor of the building it is important that the iron railing be in good
condition, solid, and sturdy. Currently there is some moderate to heavy paint chipping that is being handled by inhouse staff. It is important that the railing is regularly painted to prevent corrosion and rust, leading to premature
replacement. Currently the railing is solid with no significant rust or corrosion noted.
Useful Life:
25 years
Remaining Life:
24 years
Best Case: $19,500.00
Worst Case: $26,000.00
Estimate to replace at $60/LF
Higher estimate at $80/LF
Cost Source: ARI Cost Database
Comp #:
509 Trellis - Replace
Quantity: (2) 26'x11' Steel
Location: Pool area
Evaluation: These solid steel structures should last a very long time and not require replacement. The association is
currently in the process of finishing them with plants and vines that will grow over the steel.
Useful Life:
Remaining Life:
Best Case:
Worst Case:
Cost Source:
August 09,2011
Page 2 of 8
Association Reserves
Inventory Appendix
9999VD
Client: 9999VD Pool Area
Comp #:
909 Bathrooms (Pool) - Refurbish
Quantity: (1) Men's and (1) Women's
Location: Pool area
Evaluation: Bathrooms consist of approx 250 GSF of tile flooring as well as a 4'x4'x8' tiled shower in each. Funding is
provided to replace flooring, refurbish the shower, and replace any heavily worn fixtures. Overall the bathrooms
currently have a clean an attractive appearance.
Useful Life:
12 years
Remaining Life:
11 years
Best Case: $7,000.00
Worst Case: $10,000.00
Estimate to refurbish (2) Bathrooms
Higher estimate
Cost Source: ARI Cost Database
Comp #:
1202 Pool - Resurface
Quantity: Approx 154 LF
Location: Pool/spa area
Evaluation: Pool surface is clean an attractive. No cracks in the surface or tile noted. No significant discoloration and or
wear. Overall good condition.
Useful Life:
10 years
Remaining Life:
9 years
Best Case: $12,300.00
Worst Case: $14,000.00
Estimate to resurface at $80/LF
Higher estimate at $90/LF
Cost Source: ARI Cost Database
August 09,2011
Page 3 of 8
Association Reserves
Inventory Appendix
9999VD
Client: 9999VD Pool Area
Comp #:
1203 Spa - Resurface
Quantity: Approx. 28 LF
Location: Pool/spa area
Evaluation: Spa surface and tiles are clean an attractive. Due to heavy use at time of inspection a picture was not taken. No
cracking or unusual wear noted. Overall good condition.
Useful Life:
5 years
Remaining Life:
4 years
Photo Not Available
Best Case: $3,000.00
Worst Case: $4,000.00
Estimate to resurface
Higher estimate
Cost Source: ARI Cost Database
Comp #:
1203 Wading Pool - Resurface
Quantity: Approx. 43 LF
Location: Pool/spa area
Evaluation: The wading pool/spa has a clean tile and surface as well as a small water fall feature. No discoloration, cracking,
or unusual wear. Overall good condition.
Useful Life:
5 years
Remaining Life:
4 years
Best Case: $4,000.00
Worst Case: $5,000.00
Estimate to resurface
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 4 of 8
Association Reserves
Inventory Appendix
9999VD
Client: 9999VD Pool Area
Comp #:
1207 Pool Filter - Replace
Quantity: (1) Purex TR 100C
Location: Pool equipment area
Evaluation: Pool filter had no leaks or overflow issues noted. Moderate surface wear is from servicing. Overall good
condition based on age.
Useful Life:
12 years
Remaining Life:
11 years
Best Case: $2,000.00
Worst Case: $2,500.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
Comp #:
1207 Spa Filter - Replace
Quantity: (1) Purex TR 100C
Location: Pool equipment area
Evaluation: Spa filter had minor surface wear from servicing. No leaks or overflow noted, as nearby water appeared to be
from a pipe and was reportedly going to be fixed. Overall good condition based on age.
Useful Life:
12 years
Remaining Life:
11 years
Best Case: $2,000.00
Worst Case: $2,500.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 5 of 8
Association Reserves
Inventory Appendix
9999VD
Client: 9999VD Pool Area
Comp #:
1207 Wading Pool Filter - Replace
Quantity: (1) Purex TR 100C
Location: Pool equipment area
Evaluation: Wading pool filter was in good condition. No leaks or overflow noted.
Useful Life:
12 years
Remaining Life:
11 years
Best Case: $2,000.00
Worst Case: $2,500.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
Comp #:
1208 Pool Heater - Replace
Quantity: (1) Raypak 399,000 BTU
Location: Pool equipment area
Evaluation: No significant rust or corrosion noted. Minor exterior dirt buildup is normal. Wiring is in good condition. No
reported problems.
Useful Life:
8 years
Remaining Life:
7 years
Best Case: $3,500.00
Worst Case: $4,250.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 6 of 8
Association Reserves
Inventory Appendix
9999VD
Client: 9999VD Pool Area
Comp #:
1208 Spa Heater - Replace
Quantity: (1) Raypak 276,000 BTU
Location: Pool equipment area
Evaluation: Good clean interior. No significant rust or scale. Exterior dirt is normal. Overall good condition.
Useful Life:
8 years
Remaining Life:
7 years
Best Case: $3,000.00
Worst Case: $3,500.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
Comp #:
1208 Wading Pool Heater - Replace
Quantity: (1) Coates Electric
Location: Pool equipment area
Evaluation: The wading pool heater is electric (not gas). No reported problems at this time. Overall good condition based on
age.
Useful Life:
8 years
Remaining Life:
7 years
Best Case: $2,500.00
Worst Case: $3,000.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 7 of 8
Association Reserves
Inventory Appendix
9999VD
Client: 9999VD Pool Area
Comp #:
1210 Pool/Spa Pump - Replace
Quantity: (4) Whisperflo 1.5 HP
Location: Pool equipment room
Evaluation: All pumps were reportedly functional with no significant issues. Pumps can be erratic as far as life goes and
repairs before overall replacement should be anticipated. Treat repairs as a minor Operating expense.
Useful Life:
8 years
Remaining Life:
7 years
Best Case: $2,400.00
Worst Case: $3,200.00
Estimate to replace at $600/Each
Higher estimate at $800/Each
Cost Source: ARI Cost Database
Comp #:
1821 Wheel Chair Lift - Replace
Quantity: (1) Genesis Vertical Lift
Location: Pool area lower to upper
Evaluation: The wheel chair or handicap lift has been reportedly failing often. It may be necessary to replace it early as
apposed to continuing to drop money into repairs. Useful life has been reduced based on reported issues.
Useful Life:
12 years
Remaining Life:
6 years
Best Case: $8,000.00
Worst Case: $10,000.00
Estimate to replace lift
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 8 of 8
Sample Vacation Ownership
Building Exterior
Association Reserves, Inc.
Association Reserves
Inventory Appendix
9999VE
Client: 9999VE Building Exterior
Comp #:
1107 Pool Rail - Repaint
Quantity: Approx 325 LF
Location: Pool area walkways and perimeter
Evaluation: Currently the railing around the pool is heavily chipped in several areas, it has been reported that the on-site
maintenance staff takes care of repainting it, therefore, no Reserve funding is required. Recommend repainting
soon to prevent rust and corrosion leading to premature replacement.
Useful Life:
Remaining Life:
Best Case:
Worst Case:
Cost Source:
Comp #:
1119 Stucco - Repaint
Quantity: Approx 52,000 GSF
Location: Stucco, trim, balcony undersides, etc.
Evaluation: The stucco surfaces around the building have a clean attractive appearance. No significant grime/dirt buildup or
fading noted. No dryness or chalking upon feel. Overall good condition.
Useful Life:
8 years
Remaining Life:
7 years
Best Case: $120,000.00
Worst Case: $200,000.00
Estimate to repaint, $1200/unit
Higher estimate, $2000/unit
Cost Source: ARI Cost Database
August 09,2011
Page 1 of 2
Association Reserves
Inventory Appendix
9999VE
Client: 9999VE Building Exterior
Comp #:
1302 Flat Roof - Replace
Quantity: Approx 11,000 GSF
Location: Building Roof
Evaluation: Cap sheet roof is in good condition overall. No lifting or peeling of the seems. No significant water ponding or
stains seen. Properly sloped toward drains. Nice wide-open space (minimal geometry complications or
equipment mounted in this area).
Useful Life:
12 years
Remaining Life:
11 years
Best Case: $110,000.00
Worst Case: $132,000.00
Estimate to replace at $10.00/GSF
Higher estimate at $12.00/GSF
Cost Source: ARI Cost Database
Comp #:
2114 Balcony Deck/Rail - Repaint
Quantity: Extensive GSF & LF
Location: Balcony areas
Evaluation: Painted metal railing in good condition. No signs of rusting or chipping of paint. Cycle with Balcony Furniture Replace (#2115).
Useful Life:
5 years
Remaining Life:
4 years
Best Case: $14,400.00
Worst Case: $17,400.00
Estimate to seal/repaint
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 2 of 2
Sample Vacation Ownership
Building Interior
Association Reserves, Inc.
Association Reserves
Inventory Appendix
9999VF
Client: 9999VF Building Interior
Comp #:
324 Hallway Lights - Replace
Quantity: (403) Lights
Location: Interior hallways
Evaluation: All lights were noted to be intact and in good condition. No significant vandalism or abuse. Lights consist of (153)
inset; (103) attached wall; (47) other styles; as well as (100) lights at each unit.
Useful Life:
10 years
Remaining Life:
9 years
Best Case: $48,400.00
Worst Case: $60,500.00
Estimate to replace, $125 ea, installed
Higher estimate, $150 ea, installed
Cost Source: ARI Cost Database
Comp #:
601 Carpet - Replace
Quantity: Approx 1200 GSY
Location: Common area hallways
Evaluation: Carpet has some minor stains. Some minor wear was noted in some of the more trafficked areas (near
elevators). No seaming, fraying, or snags noted. Overall good condition.
Useful Life:
5 years
Remaining Life:
4 years
Best Case: $48,000.00
Worst Case: $60,000.00
Estimate to replace at $40/GSY
Higher estimate at $50/GSY
Cost Source: ARI Cost Database
August 09,2011
Page 1 of 10
Association Reserves
Inventory Appendix
9999VF
Client: 9999VF Building Interior
Comp #:
603 Tile Floor - Replace
Quantity: Approx 1,200 GSF
Location: Elevator lobby at each floor and vending area(s)
Evaluation: Tile was clean an attractive overall. No significant chipping or cracking. Minor wear is normal based on the foot
traffic over these areas.
Useful Life:
25 years
Remaining Life:
24 years
Best Case: $30,000.00
Worst Case: $36,000.00
Estimate to replace at $25/GSF
Higher estimate at $30/GSF
Cost Source: ARI Cost Database
Comp #:
707 Trash Chute Doors - Replace
Quantity: (10) Steel Doors
Location: Trash rooms
Evaluation: Trash chute doors were all intact and functional. Doors are steel and should last many years if not abused or
vandalized. Overall good condition.
Useful Life:
25 years
Remaining Life:
24 years
Best Case: $7,000.00
Worst Case: $10,000.00
Estimate to replace at $700/Each, installed
Higher estimate at $1000/Each
Cost Source: ARI Cost Database
August 09,2011
Page 2 of 10
Association Reserves
Inventory Appendix
9999VF
Client: 9999VF Building Interior
Comp #:
720 Entry Locks - Replace
Quantity: (100) Keycard Locks
Location: At each unit
Evaluation: Keycard at units inspected were functional and responsive. No problems reported. Overall good condition based
on age.
Useful Life:
15 years
Remaining Life:
14 years
Best Case: $35,000.00
Worst Case: $45,000.00
Estimate to replace at $350/Unit
Higher estimate at $450/Unit
Cost Source: ARI Cost Database
Comp #:
909 Bathrooms - Refurbish
Quantity: (1) Men's, (1) Women's
Location: Lobby/Common area
Evaluation: Bathrooms are located near the fitness room. Both are in clean attractive condition. The bathrooms have tiled
floors and partially tiled walls. There are (5) toilets, (2) urinals, (4) sinks, approx. 10 LF of countertop and
numerous small fixtures. Funding provided to upgrade fixtures, repaint, and every other (24years) replace the tile.
Useful Life:
12 years
Remaining Life:
11 years
Best Case: $10,000.00
Worst Case: $16,000.00
Estimate to refurbish (2) bathrooms
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 3 of 10
Association Reserves
Inventory Appendix
9999VF
Client: 9999VF Building Interior
Comp #:
910 Activities Room - Remodel
Quantity: Flooring,Furniture,Walls
Location: 6th floor hallway leading to pool area
Evaluation: Activities room consists of approx. 620 GSF of tile floor, approx. 1,400 GSF of artistically painted walls, (2)
Tables, (9) chairs, (1) desk and computer, (1) plasma TV, (1) fridge and (1) filing cabinet. Minor scuffing and
wear throughout is normal based on age and use. Minor repairs/touch-up may be needed before complete
remodel.
Useful Life:
5 years
Remaining Life:
4 years
Best Case: $10,000.00
Worst Case: $15,000.00
Estimate to remodel
Higher estimate
Cost Source: ARI Cost Database
Comp #:
910 Admin Offices - Refurbish
Quantity: Offices, Office Equipment
Location: Behind the main lobby check-in desk
Evaluation: Admin area consists of (5) approx 12'x10' offices and (1) 20'x15' conference room. There is approx. 150 GSY of
carpet that is in good condition, with only minor wear and staining. Numerous pieces of art as well as leased
computers and equipment. An allowance is provided to replace the carpet repaint and update the décor.
Useful Life:
10 years
Remaining Life:
9 years
Best Case: $6,000.00
Worst Case: $8,000.00
Allowance for replacing carpet, repainting, art, etc.
Higher allowance
Cost Source: ARI Cost Database
August 09,2011
Page 4 of 10
Association Reserves
Inventory Appendix
9999VF
Client: 9999VF Building Interior
Comp #:
910 Fitness Room - Remodel
Quantity: Equip.,Flooring, Walls
Location: Adjacent to the main lobby
Evaluation: Fitness is approx. 16'x10' carpeted. There is (1) TRUE treadmill, (1) TRUE elliptical, (1) TRUE stationary bike,
(1) AB bench, as well as a Medium LCD TV. Funding is provided to replace the fitness equipment, replace the
carpet and repaint the entire room. Currently the room and equipment are in good condition with minor scuffing
of the walls.
Useful Life:
6 years
Remaining Life:
5 years
Best Case: $10,000.00
Worst Case: $12,500.00
Estimate to remodel
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 5 of 10
Association Reserves
Inventory Appendix
9999VF
Client: 9999VF Building Interior
Comp #:
910 Lobby/Rec Room - Remodel (10 Yr)
Quantity: Furniture,Walls,Art,Etc.
Location: Main lobby area and connecting rec room
Evaluation: The minor remodel consists of approx. 10,000 GSF of painted walls; (1) pool table to be refelted; (1) large
entertainment center;(1) 50' flat screen, (2) Sofa; (8) upholstered chairs; (3) Bar style tables w/ (6) barstools; (3)
checker tables w/ (12) chairs; (4) end tables; (4) table lamps; (2) Ottoman; (2) large mirrors; (2) coffee tables; (8)
window treatments; (13) art/silk pieces; 130 GSY of carpet and 30LF of counter. Minor wear throughout is normal
based on age and use. No broken or heavily deteriorated components noted.
Useful Life:
10 years
Remaining Life:
9 years
Best Case: $75,000.00
Worst Case: $100,000.00
Estimate to replace furniture, repaint walls, replace
art, replace carpet, replace small wall and
table/floor lights, window treatments
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 6 of 10
Association Reserves
Inventory Appendix
9999VF
Client: 9999VF Building Interior
Comp #:
910 Lobby/Rec Room - Remodel (30 Yr)
Quantity: Tile, Chandeliers
Location: Main lobby area and connecting rec room
Evaluation: The (30 Yr) remodel consists of replacing the tile flooring approx. 2,400 GSF, as well as replacing the (3)
chandeliers and numerous inset lights. Tile flooring is currently in good condition with minimal surface wear.
Chandeliers are clean and attractive and all minor inset lights are intact and functional.
Useful Life:
30 years
Remaining Life:
29 years
Best Case: $65,000.00
Worst Case: $85,000.00
Estimate to replace tile, chandeliers, and inset lights
Higher estimate
Cost Source: ARI Cost Database
Comp #:
910 Maint/Hskp Staff Rm - Refurbish
Quantity: Offices,Break Room,Etc.
Location: Basement area
Evaluation: The Housekeeping and maintenance area consists of several small offices, a break room, (2) small bathrooms
9'x7; and a storage room as well as a small workshop. Assume repainting the walls and resealing the floors can
be done in these areas by in-house staff. These are areas not seen by unit owners. Other small upgrades or
replacements (furniture, kitchen equipment, lockers, etc.) should be handled as needed as an Operating
expense.
Useful Life:
Remaining Life:
Best Case:
Worst Case:
Cost Source:
August 09,2011
Page 7 of 10
Association Reserves
Inventory Appendix
9999VF
Client: 9999VF Building Interior
Comp #:
910 Member Services - Remodel
Quantity: Offices, Lounge, Etc.
Location: Rear portion of the building
Evaluation: This area is reportedly operated by corporate and is therefore theirs to maintain. No Reserve funding required.
Useful Life:
Remaining Life:
Photo Not Available
Best Case:
Worst Case:
Cost Source:
Comp #:
910 Trash Room - Remodel
Quantity: Approx 300 GSF
Location: Behind the main lobby elevator area
Evaluation: Reportedly this room was made to small too properly remove the garbage containers. It may be necessary to
remodel this room in the future to prevent damage to the walls and doors leading out of the room.
Useful Life:
Remaining Life:
Best Case:
Worst Case:
Cost Source:
August 09,2011
Page 8 of 10
Association Reserves
Inventory Appendix
9999VF
Client: 9999VF Building Interior
Comp #:
1107 Stairwell Railing - Repaint
Quantity: Approx. 2,000 LF
Location: Stairwell rails in A, B, C
Evaluation: Assume that onsite staff can handle repainting the stairwell railings. Due to there limited use and exposure to
weather, anticipate the need to repaint at long intervals.
Useful Life:
Remaining Life:
Best Case:
Worst Case:
Cost Source:
Comp #:
1110 Hallway Surfaces - Repaint
Quantity: Approx 40,000 GSF
Location: Hallway walls, ceiling, painted surfaces, baseboard, trim
Evaluation: Hallways surfaces showed minor scuffing along baseboards at corners, which is typical based on traffic and age.
Expect minor in-house touch-ups in between major repainting. Overall good condition.
Useful Life:
5 years
Remaining Life:
4 years
Best Case: $55,000.00
Worst Case: $75,000.00
Estimate to repaint and allowance for baseboard
and trim replacement/repair
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 9 of 10
Association Reserves
Inventory Appendix
9999VF
Client: 9999VF Building Interior
Comp #:
1110 Stairwell Surfaces - Repaint
Quantity: Approx. 15,600 GSF
Location: Stairwell wall surfaces A, B, C
Evaluation: Stairwell walls are only partially painted, but it is assumed they will be finished soon. As these areas are less
used that the hallways expect to repaint less often.
Useful Life:
15 years
Remaining Life:
9 years
Best Case: $11,700.00
Worst Case: $15,600.00
Estimate to repaint at $0.75/GSF
Higher estimate at $1.00/GSF
Cost Source: ARI Cost Database
Comp #:
1402 Signage - Replace
Quantity: Numerous Badges/Signs
Location: Common interior areas
Evaluation: Due to the low replacement cost and difficult to predict useful-life no Reserve funding required. Replace as
needed as an Operating expense
Useful Life:
Remaining Life:
Best Case:
Worst Case:
Cost Source:
August 09,2011
Page 10 of 10
Sample Vacation Ownership
General Common Areas
Association Reserves, Inc.
Association Reserves
Inventory Appendix
9999VG
Client: 9999VG General Common Areas
Comp #:
103 Concrete Walkways - Repair
Quantity: Extensive GSF
Location: Rear and sides of the building
Evaluation: No significant lifting or cracking. No expectation to completely replace this very long life component. Repair as
needed from Operating funds, not Reserves.
Useful Life:
Remaining Life:
Best Case:
Worst Case:
Cost Source:
Comp #:
103 Concrete/Vinyl Deck(Pool) - Replace
Quantity: Approx 3,000 GSF
Location: Lower deck area w/ furniture
Evaluation: The lower pool area consists of concrete tiles over a vinyl layering. All water is runoff the roof by the vinyl. No
broken tiles or problems to report. Overall good condition.
Useful Life:
20 years
Remaining Life:
19 years
Best Case: $30,000.00
Worst Case: $40,000.00
Estimate to replace
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 1 of 7
Association Reserves
Inventory Appendix
9999VG
Client: 9999VG General Common Areas
Comp #:
111 Trex Deck (Pool) - Replace
Quantity: Approx 2,800 GSF
Location: Deck area around pool and spas
Evaluation: Trex is quality composite material that mimics wood, but does not require repainting, only regular washing to
maintain a clean appearance. No significant wear or unusual conditions noted. Overall good condition.
Useful Life:
20 years
Remaining Life:
19 years
Best Case: $63,000.00
Worst Case: $84,000.00
Estimate to replace at $22.50/GSF
Higher estimate at $30.00/GSF
Cost Source: ARI Cost Database
Comp #:
205 Entry Pavers - Repair
Quantity: Approx 3,500 GSF
Location: Entry Driveway
Evaluation: The Entry pavers at the front driveway and parking areas are heavily stained, but no significant cracking or lifting
was noted. No expectation for complete replacement of this long life component. Recommend dealing with
repairs/cleaning as needed as an Operating expense, not Reserves.
Useful Life:
6 years
Remaining Life:
4 years
Best Case: $5,000.00
Worst Case: $7,500.00
Lower estimate to repair
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 2 of 7
Association Reserves
Inventory Appendix
9999VG
Client: 9999VG General Common Areas
Comp #:
206 Colored Concrete - Restain
Quantity: Approx 6,000 GSF
Location: Exterior walkways
Evaluation: Significant entry aesthetic asset. Colored concrete has some minor cracks as well as a few areas of local
chipping. Recommend repairing as needed as an Operating expense. This component provides for
repainting/staining the concrete, to maintain an attractive appearance.
Useful Life:
5 years
Remaining Life:
4 years
Best Case: $6,000.00
Worst Case: $10,000.00
Estimate to restain colored concrete areas
Higher estimate
Cost Source: ARI Cost Database
Comp #:
320 Pole Lights - Replace
Quantity: (3) Decorative Metal
Location: Exterior walkways
Evaluation: Pole lights are approx 15' tall and in good functional condition. Some minor paint chipping and corrosion around
bases (set on concrete bases) due to irrigation exposure, regular paint touch-up will prevent that. Overall good
condition.
Useful Life:
20 years
Remaining Life:
19 years
Best Case: $4,500.00
Worst Case: $6,000.00
Estimate to replace at $1,500/Each
Higher estimate at $2,000/each
Cost Source: ARI Cost Database
August 09,2011
Page 3 of 7
Association Reserves
Inventory Appendix
9999VG
Client: 9999VG General Common Areas
Comp #:
322 Bollard Lights - Replace
Quantity: (14) 2' Metal
Location: Exterior walkways
Evaluation: The bollard lights are similar in style to the larger post lights. The lights are set on concrete bases which will help
prevent rust and corrosion caused by the soil. Overall the lights are in good functional condition.
Useful Life:
10 years
Remaining Life:
9 years
Best Case: $11,200.00
Worst Case: $14,000.00
Estimate to replace at $800/Each
Higher estimate at $1,000/Each
Cost Source: ARI Cost Database
Comp #:
324 Wall Lights - Replace
Quantity: (30) Cylinder Style
Location: Exterior walls
Evaluation: Wall lights all intact and functional. No reported problems. Funding is provided to replace all the lights at one
time to maintain a uniform an attractive appearance across the building.
Useful Life:
20 years
Remaining Life:
19 years
Best Case: $4,500.00
Worst Case: $6,000.00
Estimate to replace at $150/Each
Higher estimate at $200/Each
Cost Source: ARI Cost Database
August 09,2011
Page 4 of 7
Association Reserves
Inventory Appendix
9999VG
Client: 9999VG General Common Areas
Comp #:
404 Patio Furniture - Replace
Quantity: (30) Pieces
Location: Rear 1st floor patio area behind the building
Evaluation: Patio furniture is metal (wrought iron). Furniture consists of (24) chairs and (6) small glass top tables. All pieces
were in good condition, with minimal surface wear.
Useful Life:
5 years
Remaining Life:
4 years
Best Case: $4,500.00
Worst Case: $6,750.00
Estimate to replace at $150/Piece
Higher estimate at $225/Piece
Cost Source: ARI Cost Database
Comp #:
501 Block/Stucco Wall - Repair
Quantity: Approx 100 LF
Location: Exterior walkways near the rear of the building
Evaluation: Block/stucco wall was in good condition. No significant cracking or unusual wear noted. Repainting is included
with the rest of the stucco building. No expectation for complete replacement of this very long life component,
repair as needed as an Operating expense.
Useful Life:
Remaining Life:
Best Case:
Worst Case:
Cost Source:
August 09,2011
Page 5 of 7
Association Reserves
Inventory Appendix
9999VG
Client: 9999VG General Common Areas
Comp #:
503 Metal Fence/Rail - Replace
Quantity: Approx 2,060 LF
Location: Metal railing and hand rails at exterior balconies and walkways
Evaluation: Railing is decorative wrought iron. All areas inspected were intact and structurally stable. No significant rust or
corrosion noted. Funding is provided to replace railing along walkways and balconies.
Useful Life:
25 years
Remaining Life:
24 years
Best Case: $155,000.00
Worst Case: $200,000.00
Estimate to replace 1,706 Balcony LF at $85/LF
and 354 LF at walkways at $40/LF
Higher estimate
Cost Source: ARI Cost Database
Comp #:
1402 Main Entry/Exit Signs - Refurbish
Quantity: (2) Stone/Stucco Signs
Location: Entry/Exit at front and rear of the building
Evaluation: The main entry and exit signs are in good clean, attractive condition. No significant staining or fading. Funding is
provided to replace the lettering and repaint the non stone areas. No expectation for complete replacement of
the concrete and stone structure.
Useful Life:
10 years
Photo Not Available
Remaining Life:
9 years
Best Case: $3,000.00
Worst Case: $5,000.00
Estimate to repaint and replace lettering at both
signs
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 6 of 7
Association Reserves
Inventory Appendix
9999VG
Client: 9999VG General Common Areas
Comp #:
1808 Landscaping/Trees - Trim
Quantity: Trees, Plants, Bushes
Location: Throughout common areas
Evaluation: Landscaping and tree trimming is handled as needed by onsite maintenance staff. No Reserve funding required.
The landscape areas appeared attractive and well maintained.
Useful Life:
Remaining Life:
Best Case:
Worst Case:
Cost Source:
Comp #:
1821 Wheel Chair Lift - Replace
Quantity: (1) Genesis Vertical Lift
Location: Lobby area stairs connecting main lobby and member services
Evaluation: As with the handicap lift at the pool, this lift is failing and needing to be repaired a lot. It may be in the
association's best interest to replace instead of continuing to repair. The remaining useful life has been reduced
some but not all the way until the association decides on what to do.
Useful Life:
12 years
Remaining Life:
6 years
Photo Not Available
Best Case: $8,000.00
Worst Case: $10,000.00
Estimate to replace lift
Higher estimate
Cost Source: ARI Cost Database
August 09,2011
Page 7 of 7