1. business and industrial
2. construction

Sample Reserve Study
Your City, Your State
Account Sample Reserve Study -- Version 7.0 (2003)
February 01, 2003
Reserve Analyst
P.O. Box 797
Vernon, AZ 85940
Phone: 800-561-0173
Fax: 928-537-3377
Prepared By
Quality Check By
Reserve Analyst Report
Sample Homeowner’s Association
Your City, Your State
Account Sample - Version 7.0 (2003)
February 1, 2003
This is an alternate cover page for this report.
Any style of page, including the cover, can be included
in your report.
Reserve Analyst
Software for the Reserve Professional
P.O. Box 1312
Show Low, AZ 85902
Phone: 800-561-0173
Fax: 928-537-3377
www.reserveanalyst.com
TABLE OF CONTENTS
Part I • Information About Your Reserve Study
Important Information
1-1
Introduction
1-2
Funding Options
1-2
Types of Reserve Studies
1-3
Developing a Component List
1-3
Operational Expenses
1-4
Reserve Expenses
1-4
Funding Methods
1-5
Funding Strategies
1-6
Distribution of Reserves
1-7
User’s Guide to Your Reserve Study
1-9
Definitions
1-9
Your Reserve Study is a Multi-Purpose Tool
1-13
Part II • Your Reserve Study
Current Assessment Funding Model Summary
2-1
Current Assessment Funding Model Projection
2-2
Current Funding Model & Fully Funded Comparison Chart
2-3
Program Features & Benefits - Page 1
2-4
Threshold Funding Model Summary
2-5
Threshold Funding Model Projection
2-6
Threshold Funding Model & Fully Funded Comparison Chart
2-7
Component Funding Model Summary
2-8
Component Funding Model Projection
2-9
Component Funding Model & Fully Funded Comparison Chart
2-10
Component Funding Model Assessment & Category Summary
2-11
Program Features & Benefits - Page 2
2-14
Distribution of Accumulated Reserves
2-15
Annual Expenditure Detail
2-17
Detail Report by Category
2-23
Program Features & Benefits - Page 3
2-55
Category Detail Index
2-56
TABLE OF CONTENTS
Annual Asset Expenditure Charts
2-57
Funding Model Comparison By Percent Funded Chart
2-58
Funding Model Reserve Ending Balance Comparison Chart
2-59
Important Information
This document has been provided pursuant to an agreement containing restrictions on its use.
No part of this document may be copied or distributed, in any form or by any means, nor
disclosed to third parties without the expressed written permission of Reserve Analyst©. The
client shall have the right to reproduce and distribute copies of this report, or the information
contained within, as may be required for compliance with all applicable regulations.
This reserve analysis study and the parameters under which it has been completed are based
upon information provided to us in part by representatives of the association, its contractors,
assorted vendors, specialist and independent contractors, the Community Association Institute,
and various construction pricing and scheduling manuals including, but not limited to: Marshall
& Swift Valuation Service, RS Means Facilities Maintenance & Repair Cost Data, RS Means
Repair & Remodeling Cost Data, National Construction Estimator, National Repair & Remodel
Estimator, Dodge Cost Manual and McGraw-Hill Professional. Additionally, costs are obtained
from numerous vendor catalogues, actual quotations or historical costs, and our own experience
in the field of property management and reserve study preparation.
It has been assumed, unless otherwise noted in this report, that all assets have been designed and
constructed properly and that each estimated useful life will approximate that of the norm per
industry standards and/or manufacturer’s specifications. In some cases, estimates may have been
used on assets, which have an indeterminable but potential liability to the association. The
decision for the inclusion of these as well as all assets considered is left to the client.
We recommend that your reserve analysis study be updated on an annual basis due to fluctuating
interest rates, inflationary changes, and the unpredictable nature of the lives of many of the
assets under consideration. All of the information collected during our inspection of the
association and computations made subsequently in preparing this reserve analysis study are
retained in our computer files. Therefore, annual updates may be completed quickly and
inexpensively each year.
Reserve Analyst© would like to thank you for using our services. We invite you to call us at any
time, should you have questions, comments or need assistance. In addition, any of the
parameters and estimates used in this study may be changed at your request, after which we will
provide a revised study.
This reserve analysis study is provided as an aid for planning purposes and not as an accounting
tool. Since it deals with events yet to take place, there is no assurance that the results
enumerated within it will, in fact, occur as described.
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Part I
Introduction
Preparing the annual budget and overseeing the association’s finances are perhaps the most
important responsibilities of board members. The annual operating and reserve budgets reflect
the planning and goals of the association and set the level and quality of service for all of the
association’s activities.
Funding Options
When a major repair or replacement is required in a community, an association has essentially
four options available to address the expenditure:
The first, and only logical means that the Board of Directors has to ensure its ability to maintain
the assets for which it is obligated, is by assessing an adequate level of reserves as part of the
regular membership assessment, thereby distributing the cost of the replacements uniformly over
the entire membership. The community is not only comprised of present members, but also
future members. Any decision by the Board of Directors to adopt a calculation method or
funding plan which would disproportionately burden future members in order to make up for
past reserve deficits, would be a breach of its fiduciary responsibility to those future members.
Unlike individuals determining their own course of action, the board is responsible to the
“community” as a whole.
Whereas, if the association was setting aside reserves for this purpose, using the vehicle of the
regularly assessed membership dues, it would have had the full term of the life of the roof, for
example, to accumulate the necessary moneys. Additionally, those contributions would have
been evenly distributed over the entire membership and would have earned interest as part of
that contribution.
The second option is for the association to acquire a loan from a lending institution in order to
effect the required repairs. In many cases, banks will lend to an association using “future
homeowner assessments” as collateral for the loan. With this method, the current board is
pledging the future assets of an association. They are also incurring the additional expense of
interest fees along with the original principal amount. In the case of a $150,000 roofing
replacement, the association may be required to pay back the loan over a three to five year
period, with interest.
The third option, too often used, is simply to defer the required repair or replacement. This
option, which is not recommended, can create an environment of declining property values due
to expanding lists of deferred maintenance items and the association’s financial inability to keep
pace with the normal aging process of the common area components. This, in turn, can have a
seriously negative impact on sellers in the association by making it difficult, or even impossible,
for potential buyers to obtain financing from lenders. Increasingly, lending institutions are
requesting copies of the association’s most recent reserve study before granting loans, either for
the association itself, a prospective purchaser, or for an individual within such an association.
The fourth option is to pass a “special assessment” to the membership in an amount required to
cover the expenditure. When a special assessment is passed, the association has the authority
and responsibility to collect the assessments, even by means of foreclosure, if necessary.
However, an association considering a special assessment cannot guarantee that an assessment,
when needed, will be passed. Consequently, the association cannot guarantee its ability to
perform the required repairs or replacements to those major components for which it is obligated
when the need arises. Additionally, while relatively new communities require very little in the
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way of major “reserve” expenditures, associations reaching 12 to 15 years of age and older, find
many components reaching the end of their effective useful lives. These required expenditures,
all accruing at the same time, could be devastating to an association’s overall budget.
Types of Reserve Studies
Most reserve studies fit into one of three categories:
Full Reserve Study;
Update with site inspection; and
Update without site inspection.
In a Full Reserve Study, the reserve provider conducts a component inventory, a condition
assessment (based upon on-site visual observations), and life and valuation estimates to
determine both a “fund status” and “funding plan”.
In an Update with site inspection, the reserve provider conducts a component inventory
(verification only, not quantification unless new components have been added to the inventory),
a condition assessment (based upon on-site visual observations), and life and valuation estimates
to determine both the “fund status and “funding plan.”
In an Update without site inspection, the reserve provider conducts life and valuation estimates
to determine the “fund status” and “funding plan.”
The Reserve Study: A Physical and a Financial Analysis
There are two components of a reserve study: a physical analysis and a financial analysis.
Physical Analysis
During the physical analysis, a reserve study provider evaluates information regarding the
physical status and repair/replacement cost of the association’s major common area components.
To do so, the provider conducts a component inventory, a condition assessment, and life and
valuation estimates.
Developing a Component List
The budget process begins with full inventory of all the major components for which the
association is responsible. The determination of whether an expense should be labeled as
operational, reserve, or excluded altogether is sometimes subjective. Since this labeling may
have a major impact on the financial plans of the association, subjective determinations should
be minimized. We suggest the following considerations when labeling an expense.
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Operational Expenses
Occur at least annually, no matter how large the expense, and can be budgeted for effectively
each year. They are characterized as being reasonably predictable, both in terms of frequency
and cost. Operational expenses include all minor expenses, which would not otherwise
adversely affect an operational budget from one year to the next. Examples of operational
expenses include:
Utilities:
Electricity
Gas
Water
Telephone
Cable TV
Administrative:
Supplies
Bank Service Charges
Dues & Publications
Licenses, Permits & Fees
Insurance(s)
Services:
Landscaping
Pool Maintenance
Street Sweeping
Accounting
Reserve Study
Repair Expenses:
Tile Roof Repairs
Equipment Repairs
Minor Concrete Repairs
Operating Contingency
Reserve Expenses
These are major expenses that occur other than annually, and which must be budgeted for in
advance in order to ensure the availability of the necessary funds in time for their use. Reserve
expenses are reasonably predictable both in terms of frequency and cost. However, they may
include significant assets that have an indeterminable but potential liability that may be
demonstrated as a likely occurrence. They are expenses that, when incurred, would have a
significant effect on the smooth operation of the budgetary process from one year to the next, if
they were not reserved for in advance. Examples of reserve expenses include:
Roof Replacements
Park/Play Equipment
Painting
Pool/Spa Re-plastering
Deck Resurfacing
Pool Equipment Replacement
Fencing Replacement
Pool Furniture Replacement
Asphalt Seal Coating
Tennis Court Resurfacing
Asphalt Repairs
Lighting Replacement
Asphalt Overlays
Insurance(s)
Equipment Replacement
Reserve Study
Interior Furnishings
Budgeting is Normally Excluded for:
Repairs or replacements of assets which are deemed to have an estimated useful life equal to or
exceeding the estimated useful life of the facility or community itself, or exceeding the legal life
of the community as defined in an association’s governing documents. Examples include the
complete replacement of elevators, tile roofs, wiring and plumbing. Also excluded are
insignificant expenses that may be covered either by an operating or reserve contingency, or
otherwise in a general maintenance fund. Expenses that are necessitated by acts of nature,
accidents or other occurrences that are more properly insured for, rather than reserved for, are
also excluded.
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Financial Analysis
The financial analysis assesses the association’s reserve balance or “fund status” (measured in
cash or as percent fully funded) to determine a recommendation for the appropriate reserve
contribution rate in the future, known as the “funding plan”.
Preparing the Reserve Study
Once the reserve assets have been identified and quantified, their respective replacement costs,
useful lives and remaining lives must be assigned so that a funding schedule can be constructed.
Replacement costs and useful lives can be found in published manuals such as construction
estimators, appraisal handbooks, and valuation guides. Remaining lives are calculated from the
useful lives and ages of assets and adjusted according to conditions such as design, manufactured
quality, usage, exposure to the elements and maintenance history.
By following the recommendations of an effective reserve study, the association should avoid
any major shortfalls. However, to remain accurate, the report should be updated on an annual
basis to reflect such changes as shifts in economic parameters, additions of phases or assets, or
expenditures of reserve funds. The association can assist in simplifying the reserve analysis
update process by keeping accurate records of these changes throughout the year.
Funding Methods
From the simplest to the most complex, reserve analysis providers use many different
computational processes to calculate reserve requirements. However, there are two basic
processes identified as industry standards: the cash flow method and the component method.
The cash flow method develops a reserve-funding plan where contributions to the reserve fund
are designed to offset the variable annual expenditures from the reserve fund. Different reserve
funding plans are tested against the actual anticipated schedule of reserve expenses until the
desired funding goal is achieved. This method sets up a “window” in which all future
anticipated replacement costs are computed, based upon the individual lives of the components
under consideration. The Reserve Analyst© Threshold and the Reserve Analyst© Current
Assessment funding models are based upon the cash flow method.
The component method develops a reserve-funding plan where the total contribution is based
upon the sum of contributions for individual components. The component method is the more
conservative of the two funding options, and assures that the association will achieve and
maintain an ideal level of reserve over time. This method also allows for computations on
individual components in the analysis. The Reserve Analyst© Component Funding model is
based upon the component methodology.
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Funding Strategies
Once an association has established its funding goals, the association can select an appropriate
funding plan. There are four basic strategies from which most associations select. It is
recommended that associations consult professionals to determine the best strategy or
combination of plans that best suit the association’s need. Additionally, associations should
consult with their financial advisor to determine the tax implications of selecting a particular
plan. Further, consultation with the American Institute of Certified Public Accountants (AICPA)
for their reporting requirements is advisable. The four funding plans and descriptions of each are
detailed below. Associations will have to update their reserve studies more or less frequently
depending on the funding strategy they select.
Full Funding---Given that the basis of funding for reserves is to distribute the costs of the
replacements over the lives of the components in question, it follows that the ideal level of
reserves would be proportionately related to those lives and costs. If an association has a
component with an expected estimated useful life of ten years, it would set aside approximately
one-tenth of the replacement cost each year. At the end of three years, one would expect threetenths of the replacement cost to have accumulated, and if so, that component would be “fullyfunded.” This model is important in that it is a measure of the adequacy of an association’s
reserves at any one point of time, and is independent of any particular method which may have
been used for past funding or may be under consideration for future funding. This formula
represents a snapshot in time and is based upon current replacement cost, independent of future
inflationary or investment factors:
Fully Funded Reserves = Age divided by Useful Life the results multiplied by Current
Replacement Cost
When an association’s total accumulated reserves for all components meet this criterion, its
reserves are considered “fully-funded.”
The Reserve Analyst© Threshold Funding Model (Minimum Funding). The goal of this
funding method is to keep the reserve cash balance above zero. This means that while each
individual component may not be fully funded, the reserve balance overall does not drop below
zero during the projected period. An association using this funding method must understand that
even a minor reduction in a component’s remaining useful life can result in a deficit in the
reserve cash balance.
The Reserve Analyst© Threshold Funding Model. This method is based upon the cash flow
funding concept. The minimum reserve cash balance in threshold funding, however, is set at a
predetermined dollar amount (other than $0).
The Reserve Analyst© Current Assessment Funding Model. This method is also based upon
the cash flow funding concept. The initial reserve assessment is set at the association’s current
fiscal year funding level and a 30-year projection is calculated to illustrate the adequacy of the
current funding over time.
The Reserve Analyst© Component Funding Model. This is a straight-line funding model. It
distributes the cash reserves to individual reserve components and then calculates what the
reserve assessment and interest contribution (minus taxes) should be, again by each reserve
component. The current annual assessment is then determined by summing all the individual
component assessments, hence the name “Component Funding Model”. This is the most
conservative funding model. It leads to or maintains the fully funded reserve position. The
following details this calculation process.
Component Funding Model Distribution of Accumulated Reserves
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The “Distribution of Accumulated Reserves Report” is a “Component Funding Model”
calculation. This distribution does not apply to the cash flow funding models.
When calculating reserves based upon the component methodology, a beginning reserve balance
must be allocated for each of the individual components considered in the analysis, before the
individual calculations can be completed. When this distribution is not available, or of sufficient
detail, the following method is suggested for allocating reserves:
The first step the program performs in this process is subtracting, from the total accumulated
reserves, any amounts for assets that have predetermined (fixed) reserve balances. The user can
“fix” the accumulated reserve balance within the program on the individual asset’s detail page.
If, by error, these amounts total more than the amount of funds available, then the remaining
assets are adjusted accordingly. A provision for a contingency reserve is then deducted by the
determined percentage used, and if there are sufficient remaining funds available.
The second step is to identify the ideal level of reserves for each asset. As indicated in the prior
section, this is accomplished by evaluating the component’s age proportionate to its estimated
useful life and current replacement cost. Again, the equation used is as follows:
Fully Funded Reserves = (Age/Useful Life) x Current Replacement Cost
The Reserve Analyst© software program performs the above calculations to the actual month
the component was placed-in-service. The program projects that the accumulation of necessary
reserves for repairs or replacements will be available on the first day of the fiscal year in which
they are scheduled to occur.
The next step the program performs is to arrange all of the assets used in the study in ascending
order by remaining life, and alphabetically within each grouping of remaining life items. These
assets are then assigned their respective ideal level of reserves until the amount of funds
available is depleted, or until all assets are appropriately funded. If any assets are assigned a
zero remaining life (scheduled for replacement in the current fiscal year), then the amount
assigned equals the current replacement cost and funding begins for the next cycle of
replacement. If there are insufficient funds available to accomplish this, then the software
automatically adjusts the zero remaining life items to one year, and that asset assumes its new
grouping position alphabetically in the final printed report.
If, at the completion of this task, there are additional moneys that have not been distributed, the
remaining reserves are then assigned, in ascending order, to a level equal to, but not exceeding,
the current replacement cost for each component. If there are sufficient moneys available to
fund all assets at their current replacement cost levels, then any excess funds are designated as
such and are not factored into any of the report computations. If, at the end of this assignment
process there are designated excess funds, they can be used to offset the monthly contribution
requirements recommended, or used in any other manner the client may desire.
Assigning the reserves in this manner defers the make-up period for any under-funding over the
longest remaining life of all assets under consideration, thereby minimizing the impact of any
deficiency. For example, if the report indicates an under funding of $50,000, this under-funding
will be assigned to components with the longest remaining lives in order to give more time to
“replenish” the account. If the $50,000 under-funding were to be assigned to short remaining
life items, the impact would be felt immediately.
If the reserves are under-funded, the monthly contribution requirements, as outlined in this
report, can be expected to be higher than normal. In future years, as individual assets are
replaced, the funding requirements will return to their normal levels. In the case of a large
deficiency, a special assessment may be considered. The program can easily generate revised
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reports outlining how the monthly contributions would be affected by such an adjustment, or by
any other changes that may be under consideration.
Funding Reserves
Three assessment and contribution figures are provided in the report, the “Monthly Reserve
Assessment Required”, the “Average Net Monthly Interest Earned” contribution and the “Total
Monthly Allocation to Reserves.” The association should allocate the “Monthly Reserve
Assessment Required” amount to reserves each month when the interest earned on the reserves is
left in the reserve accounts as part of the contribution. Any interest earned on reserve deposits,
must be left in reserves and only amounts set aside for taxes should be removed.
The second alternative is to allocate the “Total Monthly Allocation” to reserves (this is the
member assessment plus the anticipated interest earned for the fiscal year). This method
assumes that all interest earned will be assigned directly as operating income. This allocation
takes into consideration the anticipated interest earned on accumulated reserves regardless of
whether or not it is actually earned. When taxes are paid, the amount due will be taken directly
from the association’s operating accounts as the reserve accounts are allocated only those
moneys net of taxes.
Users’ Guide to your Reserve Analysis Study
Part II of your Reserve Analyst© Report contains the reserve analysis study for your association.
There are seven types of reports in the study as described below.
Report Summaries
The Report Summary for all funding models lists all of the parameters that were used in
calculating the report as well as the summary of your reserve analysis study.
Index Reports
The Distribution of Accumulated Reserves report lists all assets in remaining life order. It also
identifies the ideal level of reserves that should have accumulated for the association as well as
the actual reserves available. This information is valid only for the “Component Funding
Model” calculation.
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The Component Listing/Summary lists all assets by category (i.e. roofing, painting, lighting,
etc.) together with their remaining life, current cost, monthly reserve contribution, and net
monthly allocation.
Detail Reports
The Detail Report itemizes each asset and lists all measurements, current and future costs, and
calculations for that asset. Provisions for percentage replacements, salvage values, and one-time
replacements can also be utilized. These reports can be sorted by category or group.
The numerical listings for each asset are enhanced by extensive narrative detailing factors such
as design, manufactured quality, usage, exposure to elements and maintenance history.
The Reserve Analyst© Detail Index is an alphabetical listing of all assets, together with the page
number of the asset’s detail report, the projected replacement year, and the asset number.
Projections
Thirty-year projections add to the usefulness of your reserve analysis study.
Definitions
Report I.D.
Includes the Report Date (example: November 15, 1992), Account Number (example: 9773), and
Version (example: 1.0). Please use this information (displayed on the summary page) when
referencing your report.
Budget Year Beginning/Ending
The budgetary year for which the report is prepared. For associations with fiscal years ending
December 31st, the monthly contribution figures indicated are for the 12-month period beginning
1/1/20xx and ending 12/31/20xx.
Number of Units and/or Phases
If applicable, the number of units and/or phases included in this version of the report.
Inflation
This figure is used to approximate the future cost to repair or replace each component in the
report. The current cost for each component is compounded on an annual basis by the number of
remaining years to replacement, and the total is used in calculating the monthly reserve
contribution that will be necessary to accumulate the required funds in time for replacement.
Annual Assessment Increase
This represents the percentage rate at which the association will increase its assessment to
reserves at the end of each year. For example, in order to accumulate $10,000 in 10 years, you
could set aside $1,000 per year. As an alternative, you could set aside $795 the first year and
increase that amount by 5% each year until the year of replacement. In either case you arrive at
the same amount. The idea is that you start setting aside a lower amount and increase that
number each year in accordance with the planned percentage. Ideally this figure should be equal
to the rate of inflation. It can, however, be used to aide those associations that have not set aside
appropriate reserves in the past, by making the initial year’s allocation less formidable.
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Investment Yield Before Taxes
The average interest rate anticipated by the association based upon its current investment
practices.
Taxes on Interest Yield
The estimated percentage of interest income that will be set aside to pay income taxes on the
interest earned.
Projected Reserve Balance
The anticipated reserve balance on the first day of the fiscal year for which this report has been
prepared. This is based upon information provided and not audited.
Percent Fully Funded
The ratio, at the beginning of the fiscal year, of the actual (or projected) reserve balance to the
calculated fully funded balance, expressed as a percentage.
Phase Increment Detail and/or Age
Comments regarding aging of the components on the basis of construction date or date of
acceptance by the association.
Monthly Assessment
The assessment to reserves required by the association each month.
Interest Contribution (After Taxes)
The interest that should be earned on the reserves, net of taxes, based upon their beginning
reserve balance and monthly contributions for one year. This figure is averaged for budgeting
purposes.
Total Monthly Allocation
The sum of the monthly assessment and interest contribution figures.
Group and Category
The report may be prepared and sorted either by group (location, building, phase, etc.) or by
category (roofing, painting, etc.). The standard report printing format is by category.
Percentage of Replacement or Repairs
In some cases, an asset may not be replaced in its entirety or the cost may be shared with a
second party. Examples are budgeting for a percentage of replacement of streets over a period of
time, or sharing the expense to replace a common wall with a neighboring party.
Placed-In-Service Date
The month and year that the asset was placed-in-service. This may be the construction date, the
first escrow closure date in a given phase, or the date of the last servicing or replacement.
Estimated Useful Life
The estimated useful life of an asset based upon industry standards, manufacturer specifications,
visual inspection, location, usage, association standards and prior history. All of these factors
are taken into consideration when tailoring the estimated useful life to the particular asset. For
example, the carpeting in a hallway or elevator (a heavy traffic area) will not have the same life
as the identical carpeting in a seldom-used meeting room or office.
Adjustment to Useful Life
Once the useful life is determined, it may be adjusted, up or down, by this separate figure for the
current cycle of replacement. This will allow for a current period adjustment without affecting
the estimated replacement cycles for future replacements.
Estimated Remaining Life
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This calculation is completed internally based upon the report’s fiscal year date and the date the
asset was placed-in-service.
Replacement Year
The year that the asset is scheduled to be replaced. The appropriate funds will be available by
the first day of the fiscal year for which replacement is anticipated.
Annual Fixed Reserves
An optional figure which, if used, will override the normal process of allocating reserves to each
asset.
Fixed Assessment
An optional figure which, if used, will override all calculations and set the assessment at this
amount. This assessment can be set for monthly, quarterly or annually as necessary.
Salvage Value
The salvage value of the asset at the time of replacement, if applicable.
One-Time Replacement
Notation if the asset is to be replaced on a one-time basis.
Current Replacement Cost
The estimated replacement cost effective at the beginning of the fiscal year for which the report
is being prepared
Future Replacement Cost
The estimated cost to repair or replace the asset at the end of its estimated useful life based upon
the current replacement cost and inflation.
Component Inventory
The task of selecting and qualifying reserve components. This task can be accomplished through
on-site visual, review of association design and organizational documents, a review of
established association precedents, and discussion with appropriate association representative(s).
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A Multi-Purpose Tool
Your Reserve Analyst© Report is an important part of your association’s budgetary process.
Following its recommendations should ensure the association’s smooth budgetary transitions
from one fiscal year to the next, and either decrease or eliminate the need for “special
assessments”.
In addition, your Reserve Analyst© reserve study serves a variety of useful purposes:
•
Following the recommendations of a reserve study performed by a professional
consultant can protect the Board of Directors in a community from personal liability
concerning reserve components and reserve funding.
•
A reserve analysis study is required by your accountant during the preparation of the
association’s annual audit.
•
The Reserve Analyst© reserve study is often requested by lending institutions during the
process of loan applications, both for the community and, in many cases, the individual
owners.
•
Your Reserve Analyst© Report is also a detailed inventory of the association’s major
assets and serves as a management tool for scheduling, coordinating and planning future
repairs and replacements.
•
Your Reserve Analyst© Report is a tool that can assist the Board in fulfilling its legal and
fiduciary obligations for maintaining the community in a state of good repair. If a
community is operating on a special assessment basis, it cannot guarantee that an
assessment, when needed, will be passed. Therefore, it cannot guarantee its ability to
perform the required repairs or replacements to those major components for which the
association is obligated.
•
Since the Reserve Analyst© reserve analysis study includes measurements and cost
estimates of the client’s assets, the detail reports may be used to evaluate the accuracy
and price of contractor bids when assets are due to be repaired or replaced.
•
The Reserve Analyst© reserve study is an annual disclosure to the membership
concerning the financial condition of the association, and may be used as a “consumers’
guide” by prospective purchasers.
•
The Reserve Analyst© Owners’ Summary meets the disclosure requirements of the
California Civil Code and also the recently adopted ECHO standards.
•
Your Reserve Analyst© Report provides a record of the time, cost, and quantities of past
reserve replacements. At times the association’s management company and board of
directors are transitory which may result in the loss of these important records.
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Sample Reserve Study
Your City, Your State
RA Current Assessment Funding Model Summary
Report Parameters
Report Date
Account Number
Version
Budget Year Beginning
Budget Year Ending
February 01, 2003
Sample Reserve Study
7.0 (2003)
January 01, 2003
December 31, 2003
Total Units
Phase Development
55
1 of 1
Inflation
Annual Assessment Increase
Interest Rate on Reserve Deposit
Tax Rate on Interest
Contingency
2003 Beginning Balance
3.00%
3.00%
3.00%
30.00%
3.00%
$105,000.00
Current Assessment Funding Model Summary
• For budgeting purposes, unless otherwise indicated, we have used January 1990 to begin
aging the original components in this reserve study.
• This a 55 unit condominium is located at the intersection of 1st Street and Main Street, Your
Town, Your State, USA.
• The last Reserve Analyst field inspection was completed on Janury 3, 2002.
Summary of Calculations
Monthly Reserve Assessment Required
$28.03 per unit per monthly
Average Net Monthly Interest Earned
Total Monthly Allocation to Reserves
$28.32 per unit monthly
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 1
$1,541.66
$193.56
$1,557.79
Sample Reserve Study
RA Current Assessment Funding Model Projection
Beginning Balance: $105,000
Year
Current
Cost
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
244,942
252,291
259,859
267,655
275,685
283,955
292,474
301,248
310,286
319,594
329,182
339,057
349,229
359,706
370,497
381,612
393,061
404,852
416,998
429,508
442,393
455,665
469,335
483,415
497,917
512,855
528,240
544,088
560,410
577,223
Annual
Assessment
18,500
19,055
19,627
20,215
20,822
21,447
22,090
22,753
23,435
24,138
24,862
25,608
26,377
27,168
27,983
28,822
29,687
30,578
31,495
32,440
33,413
34,415
35,448
36,511
37,607
38,735
39,897
41,094
42,327
43,596
Annual
Interest
2,323
2,538
2,819
2,933
3,232
2,967
3,490
2,990
2,204
1,915
2,475
2,714
2,352
2,342
2,450
2,800
3,479
3,917
3,152
3,077
3,528
4,076
4,903
4,296
4,648
5,359
5,019
3,590
2,527
1,395
Annual
Expenditures
3,892
10,925
8,605
17,338
9,297
36,883
49,485
63,099
39,596
16,416
45,730
29,563
24,763
14,333
12,882
70,990
38,662
14,650
11,547
69,442
24,703
9,227
60,670
112,849
95,405
98,811
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 2
Projected
Ending
Reserves
121,931
132,599
146,439
152,249
167,007
154,538
180,118
156,375
118,916
105,374
132,711
144,617
127,616
127,562
133,232
150,521
183,687
205,299
168,957
165,811
188,103
215,047
255,398
226,764
244,316
279,183
263,429
195,265
144,713
90,894
Fully
Funded
Reserves
Percent
Fully
Funded
131,223
144,130
160,503
168,737
186,404
176,009
205,125
183,331
147,176
135,630
166,526
181,739
167,137
170,103
179,129
200,397
238,442
264,923
231,541
232,475
259,960
292,644
339,673
315,589
339,429
381,618
371,752
307,525
261,208
211,258
92%
91%
91%
90%
89%
87%
87%
85%
80%
77%
79%
79%
76%
74%
74%
75%
77%
77%
72%
71%
72%
73%
75%
71%
71%
73%
70%
63%
55%
43%
Sample Reserve Study
RA Current Funding Model & Fully Funded Comparison Chart
Current Funding Model VS Fully Funded Reserves
450,000
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
0
'03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32
Fiscal Year
Current Funding Model
Fully Funded Reserves
The Current Assessment Funding Model is based on the current annual assessment, parameters, and
reserve fund balance. Because it is calculated using the current annual assessment, it will give the
accurate projection of how well the association is funded for the next 30 years of planned reserve
expenditures.
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 3
Sample Reserve Study
RA Program Features & Benefits - Page 1
Program Features & Benefits
¾ Windows Software
¾
Open ended architecture - Any desired feature can be added
¾
Very user friendly
¾
Uses Rich Text - Edits like Microsoft Word
¾
Network ready
¾
Easily Zip and e-mail project files to others or use as backup
¾
Craftsman component cost database included
¾
Produces Professional reports
¾
Import other data files
¾
Project Notes for specific information about each project
¾
Meets current California owner's disclosure requirements
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 4
Sample Reserve Study
Your City, Your State
RA Threshold Funding Model Summary
Report Parameters
Report Date
Account Number
Version
Budget Year Beginning
Budget Year Ending
February 01, 2003
Sample Reserve Study
7.0 (2003)
January 01, 2003
December 31, 2003
Total Units
Phase Development
55
1 of 1
Inflation
Annual Assessment Increase
Interest Rate on Reserve Deposit
Tax Rate on Interest
Contingency
2003 Beginning Balance
3.00%
3.00%
3.00%
30.00%
3.00%
$105,000.00
Threshold Funding Model Summary
• For budgeting purposes, unless otherwise indicated, we have used January 1990 to begin
aging the original components in this reserve study.
• This a 55 unit condominium is located at the intersection of 1st Street and Main Street, Your
Town, Your State, USA.
• The last Reserve Analyst field inspection was completed on Janury 3, 2002.
Summary of Calculations
Monthly Reserve Assessment Required
$27.41 per unit per monthly
Average Net Monthly Interest Earned
Total Monthly Allocation to Reserves
$27.70 per unit monthly
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 5
$1,507.76
$193.23
$1,523.86
Sample Reserve Study
RA Threshold Funding Model Projection
Beginning Balance: $105,000
Year
Current
Cost
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
244,942
252,291
259,859
267,655
275,685
283,955
292,474
301,248
310,286
319,594
329,182
339,057
349,229
359,706
370,497
381,612
393,061
404,852
416,998
429,508
442,393
455,665
469,335
483,415
497,917
512,855
528,240
544,088
560,410
577,223
Annual
Assessment
18,093
18,636
19,195
19,771
20,364
20,975
21,604
22,252
22,920
23,608
24,316
25,045
25,797
26,570
27,368
28,189
29,034
29,905
30,802
31,727
32,678
33,659
34,668
35,708
36,780
37,883
39,020
40,190
41,396
42,638
Annual
Interest
2,319
2,525
2,797
2,901
3,190
2,914
3,426
2,914
2,116
1,814
2,360
2,585
2,208
2,183
2,275
2,608
3,269
3,689
2,905
2,809
3,239
3,766
4,569
3,938
4,266
4,951
4,584
3,127
2,034
872
Annual
Expenditures
3,892
10,925
8,605
17,338
9,297
36,883
49,485
63,099
39,596
16,416
45,730
29,563
24,763
14,333
12,882
70,990
38,662
14,650
11,547
69,442
24,703
9,227
60,670
112,849
95,405
98,811
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 6
Projected
Ending
Reserves
121,520
131,756
145,143
150,477
164,735
151,741
176,771
152,453
114,390
100,216
126,892
138,106
120,381
119,570
124,450
140,912
173,215
193,927
156,644
152,517
173,785
199,662
238,899
209,104
225,447
259,054
241,988
172,456
120,482
65,180
Fully
Funded
Reserves
Percent
Fully
Funded
131,223
144,130
160,503
168,737
186,404
176,009
205,125
183,331
147,176
135,630
166,526
181,739
167,137
170,103
179,129
200,397
238,442
264,923
231,541
232,475
259,960
292,644
339,673
315,589
339,429
381,618
371,752
307,525
261,208
211,258
92%
91%
90%
89%
88%
86%
86%
83%
77%
73%
76%
75%
72%
70%
69%
70%
72%
73%
67%
65%
66%
68%
70%
66%
66%
67%
65%
56%
46%
30%
Sample Reserve Study
RA Threshold Funding Model & Fully Funded Comparison Chart
Threshold Funding Model VS Fully Funded Reserves
450,000
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
0
'03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32
Fiscal Year
Threshold Funding Model
Fully Funded Reserves
The Threshold Funding Model calculates the minimum reserve assessments, with the restriction that
the reserve balance is not allowed to go below $0 or other predetermined threshold, during the period of
time examined. All funds for planned reserve expenditures will be available on the first day of each
fiscal year. The Threshold Funding Model allows the client to choose the level of conservative
funding they desire by choosing the threshold dollar amount.
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 7
Sample Reserve Study
Your City, Your State
RA Component Funding Model Summary
Report Parameters
Report Date
Account Number
Version
Budget Year Beginning
Budget Year Ending
February 01, 2003
Sample Reserve Study
7.0 (2003)
January 01, 2003
December 31, 2003
Total Units
Phase Development
55
1 of 1
Inflation
Annual Assessment Increase
Interest Rate on Reserve Deposit
Tax Rate on Interest
Contingency
2003 Beginning Balance
3.00%
3.00%
3.00%
30.00%
3.00%
$105,000.00
Component Funding Model Summary
• For budgeting purposes, unless otherwise indicated, we have used January 1990 to begin
aging the original components in this reserve study.
• This a 55 unit condominium is located at the intersection of 1st Street and Main Street, Your
Town, Your State, USA.
• The last Reserve Analyst field inspection was completed on Janury 3, 2002.
Summary of Calculations
Monthly Reserve Assessment Required
$32.14 per unit per monthly
Average Net Monthly Interest Earned
Total Monthly Allocation to Reserves
$32.44 per unit monthly
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 8
$1,768.24
$195.75
$1,784.56
Sample Reserve Study
RA Component Funding Model Projection
Beginning Balance: $105,000
Year
Current
Cost
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
244,942
252,291
259,859
267,655
275,685
283,955
292,474
301,248
310,286
319,594
329,182
339,057
349,229
359,706
370,497
381,612
393,061
404,852
416,998
429,508
442,393
455,665
469,335
483,415
497,917
512,855
528,240
544,088
560,410
577,223
Annual
Assessment
21,219
21,945
22,369
22,929
23,413
24,310
24,665
25,809
26,920
27,769
27,668
28,245
29,448
30,718
31,392
32,022
32,608
33,419
34,863
35,705
36,377
37,163
37,902
39,692
41,030
42,362
44,004
46,196
47,688
49,339
Annual
Interest
2,349
2,624
2,967
3,142
3,502
3,299
3,888
3,456
2,749
2,547
3,188
3,500
3,215
3,293
3,496
3,938
4,706
5,232
4,560
4,584
5,135
5,778
6,695
6,186
6,648
7,476
7,262
5,977
5,075
4,115
Annual
Expenditures
3,892
10,925
8,605
17,338
9,297
36,883
49,485
63,099
39,596
16,416
45,730
29,563
24,763
14,333
12,882
70,990
38,662
14,650
11,547
69,442
24,703
9,227
60,670
112,849
95,405
98,811
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 9
Projected
Ending
Reserves
124,676
138,320
155,050
163,783
181,401
172,128
200,682
180,461
147,032
137,751
168,607
183,937
170,870
175,318
185,443
207,070
244,383
270,152
238,586
240,213
267,075
298,468
343,065
319,501
342,476
383,087
373,683
313,008
270,366
225,009
Fully
Funded
Reserves
Percent
Fully
Funded
131,223
144,130
160,503
168,737
186,404
176,009
205,125
183,331
147,176
135,630
166,526
181,739
167,137
170,103
179,129
200,397
238,442
264,923
231,541
232,475
259,960
292,644
339,673
315,589
339,429
381,618
371,752
307,525
261,208
211,258
95%
95%
96%
97%
97%
97%
97%
98%
99%
101%
101%
101%
102%
103%
103%
103%
102%
101%
103%
103%
102%
101%
100%
101%
100%
100%
100%
101%
103%
106%
Sample Reserve Study
RA Component Funding Model & Fully Funded Comparison Chart
Component Funding Model VS Fully Funded Reserves
450,000
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
0
'03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32
Fiscal Year
Component Funding Model
Fully Funded Reserves
The Component Funding Model’s long-term objective is to provide a plan to a fully funded reserve
position over the longest period of time practical. This is the most conservative funding model.
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 10
Sample Reserve Study
RA Component Funding Model Assessment & Category Summary
d
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st t
Asphalt Pavement
Asphalt Overlay
Streets - Asphalt Repairs
Streets - Asphalt Seal Coat
Asphalt Pavement - Total
2010
2007
2007
20
5
5
0
5
0
7
4
4
40,236
3,360
4,900
$48,496
26,153
2,016
980
$29,149
26,153
2,016
980
$29,149
Roofing
Roofs - Built Up w/Gravel, Replace
Roofing - Total
2015
14
0
12
18,375
$18,375
0
2,625
$2,625
Gutters & Downspouts
Gutters & Downspouts - Replace
Gutters & Downspouts - Total
2012
22
0
9
1,212
$1,212
716
$716
716
$716
Skylights
Skylights - Roof, Replace
Skylights - Total
2012
22
0
9
1,340
$1,340
792
$792
792
$792
Painting, Interior
Paint - Lobby, Atrium, & Halls
Painting, Interior - Total
2006
8
0
3
10,567
$10,567
6,604
$6,604
6,604
$6,604
Painting, Exterior
Paint - Metal
Paint - Stucco
Paint - Wood Siding
Painting, Exterior - Total
2006
2011
2006
5
10
5
0
0
0
3
8
3
2,384
37,975
1,340
$41,699
954
7,595
536
$9,085
954
7,595
536
$9,085
Fencing
Fence - Steel, Pool, Replace
Fencing - Total
2008
18
0
5
15,686
$15,686
11,328
$11,328
11,328
$11,328
Pool
Pool - Filter, Replace
Pool - Replaster/Tile Replacement
Pool Furniture - Replacement
Pool Heater - Replacement
Pool - Total
2014
2012
2008
2003
12
12
7
12
0
0
0
0
11
9
5
0
1,292
6,207
1,646
2,164
$11,309
108
1,552
470
2,164
$4,294
108
1,552
470
2,164
$4,294
Play Equipment
Play Equipment - Replace
Play Equipment - Total
2016
16
0
13
12,000
$12,000
0
2,250
$2,250
Description
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 11
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Version Number
As
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Report Date
February 01, 2003
Beginning Fiscal Year
January 01, 2003
Account Number
Sample Reserve Study
Cu
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As
s
Re igne
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ve
Fu
Fully
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Railings, Metal
Railing - Ext, Wrght Iron, Replace
Railings, Metal - Total
2008
18
0
5
3,484
$3,484
2,516
$2,516
2,516
$2,516
Lighting, Interior
Lighting - Ceiling Recess Rounds, Replace
Lighting - EXIT/Emergency, Replace
Lighting - Fluorescent Fixtures, Replace
Lighting - Wall Sconces, Replace
Lighting, Interior - Total
2020
2012
2020
2012
22
22
22
22
0
0
0
0
17
9
17
9
1,500
5,434
6,294
6,084
$19,312
0
3,211
0
3,595
$6,806
341
3,211
1,430
3,595
$8,577
Lighting, Exterior
Lighting - Buildings, Replace
Lighting, Exterior - Total
2012
22
0
9
1,810
$1,810
1,070
$1,070
1,070
$1,070
Floor Cover
Floor Cover - Carpet, Halls, Replace
Floor Cover - Total
2005
6
0
2
8,111
$8,111
5,408
$5,408
5,408
$5,408
Hot Water System
Boiler - Hot Water System, Replace
Hot Water Storage Tank - Replace
Hot Water System - Total
2032
2018
30
16
0
0
29
15
15,470
3,000
$18,470
0
0
516
187
$703
Elevator
Elevator - Cab Refurbishing
Elevator - Major Repairs
Elevator - Total
2004
2008
14
18
0
0
1
5
6,200
11,000
$17,200
5,757
7,944
$13,702
5,757
7,944
$13,702
Gate Operator
Security - Gate Operators, Sliding, Replace
Gate Operator - Total
2004
12
2
1
1,895
$1,895
1,760
$1,760
1,760
$1,760
Security
Security - Access Phone, Replace
Security - Total
2004
12
2
1
2,512
$2,512
2,333
$2,333
2,333
$2,333
Doors, Exterior
Doors - Exterior, Metal, Replace
Doors, Exterior - Total
2015
25
0
12
8,161
$8,161
3,280
$3,280
4,244
$4,244
Landscape Equipment
Irrigation Controller - Replace
Landscape Equipment - Total
2003
12
0
0
1,728
$1,728
1,728
$1,728
1,728
$1,728
Mailboxes
Mailboxes - Wall Clusters, Replace
Mailboxes - Total
2006
16
0
3
1,575
$1,575
1,280
$1,280
1,280
$1,280
Description
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 12
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Us
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Sample Reserve Study
RA Component Funding Model Assessment & Category Summary
Contingency
Traffic Signs
Contingency - Total
d
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Sample Reserve Study
RA Component Funding Model Assessment & Category Summary
unfunded
Total Asset Summary
Contingency at 3.00%
Summary Total
$244,942
$101,850
$3,150
$105,000
Fully Funded Level
92%
Current Average Liability per Unit (Total Units:55)
-$155
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 13
$110,163
$3,407
$113,570
Sample Reserve Study
RA Program Features & Benefits - Page 2
...More Features & Benefits
Add and print color digital photos of assets to the report
Solid industry accepted funding models
Special Assessments
Reserve preparer has control of funding models
Sort, group and find assets
Add record comments to describe assets
Use names for asset categories and groups
Stock Comments included to describe assets
Keep detailed inventory of the association’s assets
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 14
Sample Reserve Study
RA Distribution of Accumulated Reserves
Description
Remaining
Life
Irrigation Controller - Replace
Pool Heater - Replacement
Elevator - Cab Refurbishing
Security - Access Phone, Replace
Security - Gate Operators, Sliding, Replace
Floor Cover - Carpet, Halls, Replace
Mailboxes - Wall Clusters, Replace
Paint - Lobby, Atrium, & Halls
Paint - Metal
Paint - Wood Siding
Streets - Asphalt Repairs
Streets - Asphalt Seal Coat
Elevator - Major Repairs
Fence - Steel, Pool, Replace
Pool Furniture - Replacement
Railing - Ext, Wrght Iron, Replace
Asphalt Overlay
Paint - Stucco
Gutters & Downspouts - Replace
Lighting - Buildings, Replace
Lighting - EXIT/Emergency, Replace
Lighting - Wall Sconces, Replace
Pool - Replaster/Tile Replacement
Skylights - Roof, Replace
Pool - Filter, Replace
Doors - Exterior, Metal, Replace
Roofs - Built Up w/Gravel, Replace
Play Equipment - Replace
Hot Water Storage Tank - Replace
Lighting - Ceiling Recess Rounds, Replace
Lighting - Fluorescent Fixtures, Replace
Boiler - Hot Water System, Replace
Traffic Signs
0
0
1
1
1
2
3
3
3
3
4
4
5
5
5
5
7
8
9
9
9
9
9
9
11
12
12
13
15
17
17
29
Replacement
Year
2003
2003
2004
2004
2004
2005
2006
2006
2006
2006
2007
2007
2008
2008
2008
2008
2010
2011
2012
2012
2012
2012
2012
2012
2014
2015
2015
2016
2018
2020
2020
2032
unfunded
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 15
Assigned
Reserves
1,728
2,164
5,757
2,333
1,760
5,408
1,280
6,604
954
536
2,016
980
7,944
11,328
470
2,516
26,153
7,595
716
1,070
3,211
3,595
1,552
792
108
3,280
Fully Funded
Reserves
1,728
2,164
5,757
2,333
1,760
5,408
1,280
6,604
954
536
2,016
980
7,944
11,328
470
2,516
26,153
7,595
716
1,070
3,211
3,595
1,552
792
108
4,244
2,625
2,250
187
341
1,430
516
Sample Reserve Study
RA Distribution of Accumulated Reserves
Description
Remaining
Life
Replacement
Year
Total Asset Summary
Contingency at 3.00%
Summary Total
Assigned
Reserves
$101,850
$3,150
$105,000
Fully Funded Level
92%
Current Average Liability per Unit (Total Units:55)
-$155
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 16
Fully Funded
Reserves
$110,163
$3,407
$113,570
Sample Reserve Study
RA Annual Expenditure Detail
Description
Expenditures
Replacement Year 2003
Irrigation Controller - Replace
Pool Heater - Replacement
Total
Replacement Year 2004
Elevator - Cab Refurbishing
Security - Access Phone, Replace
Security - Gate Operators, Sliding, Replace
Total
1,728
2,164
$3,892
6,386
2,587
1,952
$10,925
Replacement Year 2005
Floor Cover - Carpet, Halls, Replace
Total
8,605
$8,605
Replacement Year 2006
Mailboxes - Wall Clusters, Replace
Paint - Lobby, Atrium, & Halls
Paint - Metal
Paint - Wood Siding
Total
1,721
11,547
2,605
1,464
$17,338
Replacement Year 2007
Streets - Asphalt Repairs
Streets - Asphalt Seal Coat
Total
3,782
5,515
$9,297
Replacement Year 2008
Elevator - Major Repairs
Fence - Steel, Pool, Replace
12,752
18,184
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 17
Sample Reserve Study
RA Annual Expenditure Detail
Description
Expenditures
Replacement Year 2008 continued...
Pool Furniture - Replacement
Railing - Ext, Wrght Iron, Replace
Total
1,908
4,038
$36,883
No Replacement in 2009
Replacement Year 2010
Asphalt Overlay
Total
49,485
$49,485
Replacement Year 2011
Floor Cover - Carpet, Halls, Replace
Paint - Metal
Paint - Stucco
Paint - Wood Siding
Total
10,275
3,020
48,106
1,697
$63,099
Replacement Year 2012
Gutters & Downspouts - Replace
Lighting - Buildings, Replace
Lighting - EXIT/Emergency, Replace
Lighting - Wall Sconces, Replace
Pool - Replaster/Tile Replacement
Skylights - Roof, Replace
Streets - Asphalt Repairs
Streets - Asphalt Seal Coat
Total
1,582
2,362
7,090
7,938
8,099
1,748
4,384
6,393
$39,596
No Replacement in 2013
Replacement Year 2014
Paint - Lobby, Atrium, & Halls
Pool - Filter, Replace
Total
14,627
1,788
$16,416
Replacement Year 2015
Doors - Exterior, Metal, Replace
11,636
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 18
Sample Reserve Study
RA Annual Expenditure Detail
Description
Expenditures
Replacement Year 2015 continued...
Irrigation Controller - Replace
Pool Furniture - Replacement
Pool Heater - Replacement
Roofs - Built Up w/Gravel, Replace
Total
2,464
2,347
3,085
26,198
$45,730
Replacement Year 2016
Paint - Metal
Paint - Wood Siding
Play Equipment - Replace
Security - Access Phone, Replace
Security - Gate Operators, Sliding, Replace
Total
3,501
1,968
17,622
3,689
2,783
$29,563
Replacement Year 2017
Floor Cover - Carpet, Halls, Replace
Streets - Asphalt Repairs
Streets - Asphalt Seal Coat
Total
12,269
5,082
7,412
$24,763
Replacement Year 2018
Elevator - Cab Refurbishing
Hot Water Storage Tank - Replace
Total
9,659
4,674
$14,333
No Replacement in 2019
Replacement Year 2020
Lighting - Ceiling Recess Rounds, Replace
Lighting - Fluorescent Fixtures, Replace
Total
Replacement Year 2021
Paint - Metal
2,479
10,403
$12,882
4,059
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 19
Sample Reserve Study
RA Annual Expenditure Detail
Description
Expenditures
Replacement Year 2021 continued...
Paint - Stucco
Paint - Wood Siding
Total
64,650
2,281
$70,990
Replacement Year 2022
Mailboxes - Wall Clusters, Replace
Paint - Lobby, Atrium, & Halls
Pool Furniture - Replacement
Streets - Asphalt Repairs
Streets - Asphalt Seal Coat
Total
2,762
18,530
2,886
5,892
8,592
$38,662
Replacement Year 2023
Floor Cover - Carpet, Halls, Replace
Total
14,650
$14,650
Replacement Year 2024
Pool - Replaster/Tile Replacement
Total
11,547
$11,547
No Replacement in 2025
Replacement Year 2026
Elevator - Major Repairs
Fence - Steel, Pool, Replace
Paint - Metal
Paint - Wood Siding
Pool - Filter, Replace
Railing - Ext, Wrght Iron, Replace
Total
Replacement Year 2027
Irrigation Controller - Replace
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 20
21,709
30,957
4,706
2,645
2,550
6,875
$69,442
3,513
Sample Reserve Study
RA Annual Expenditure Detail
Description
Expenditures
Replacement Year 2027 continued...
Pool Heater - Replacement
Streets - Asphalt Repairs
Streets - Asphalt Seal Coat
Total
Replacement Year 2028
Security - Access Phone, Replace
Security - Gate Operators, Sliding, Replace
Total
Replacement Year 2029
Floor Cover - Carpet, Halls, Replace
Pool Furniture - Replacement
Roofs - Built Up w/Gravel, Replace
Total
Replacement Year 2030
Asphalt Overlay
Paint - Lobby, Atrium, & Halls
Total
Replacement Year 2031
Paint - Metal
Paint - Stucco
Paint - Wood Siding
Total
Replacement Year 2032
Boiler - Hot Water System, Replace
Elevator - Cab Refurbishing
Play Equipment - Replace
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 21
4,399
6,830
9,961
$24,703
5,260
3,968
$9,227
17,493
3,550
39,627
$60,670
89,376
23,473
$112,849
5,455
86,884
3,066
$95,405
36,456
14,611
28,279
Sample Reserve Study
RA Annual Expenditure Detail
Description
Expenditures
Replacement Year 2032 continued...
Streets - Asphalt Repairs
Streets - Asphalt Seal Coat
Total
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 22
7,918
11,547
$98,811
Sample Reserve Study
RA Detail Report by Category
Asphalt Overlay - 2010
Asset ID
1069
Placed in Service
Useful Life
Asphalt Pavement
January 1990
20
Replacement Year
Remaining Life
2010
7
35,000 - sq. ft. of asphalt overlay
7 - manhole cover adjustments
12 - valve cover adjustments
@
@
@
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$40,236.00
100%
$49,485.20
$26,153.40
Monthly Assessment
Interest Contribution
Reserve Allocation
$212.31
$48.26
$260.58
$1.01 =
458.00 =
140.00 =
Total =
$35,350.00
3,206.00
1,680.00
$40,236.00
The cost of asphalt overlay is based on a minimum thickness of 1.5" and includes the cost of
applying a paving fabric.
Streets - Asphalt Repairs - 2007
Asset ID
1058
Asphalt Pavement
Placed in Service
January 1997
Useful Life
5
Adjustment
5
Replacement Year
2007
Remaining Life
4
35,000 sq. ft.
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
@ $6.40
$3,360.00
1.5%
$3,781.70
$2,016.00
Monthly Assessment
Interest Contribution
Reserve Allocation
$31.76
$3.86
$35.63
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 23
Sample Reserve Study
RA Detail Report by Category
Streets - Asphalt Repairs Continued...
The useful life on the asphalt repairs has been adjusted to align with the future cycle of the
asphalt sealing.
It is estimated that a percentage of the asphalt areas will require repair or replacement. The
actual condition of the asphalt should be monitored through time and the estimates adjusted
accordingly.
The actual date this item was placed in service was not available. For budgeting purposes, we
have estimated this date based upon its present condition.
Streets - Asphalt Seal Coat - 2007
Asset ID
1059
Asphalt Pavement
Placed in Service
January 2002
Useful Life
5
Replacement Year
Remaining Life
2007
4
35,000 sq. ft
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
@ $0.14
$4,900.00
100%
$5,514.99
$980.00
Monthly Assessment
Interest Contribution
Reserve Allocation
$88.93
$2.59
$91.52
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 24
Sample Reserve Study
RA Detail Report by Category
Streets - Asphalt Seal Coat Continued...
Asphalt surfaces should be sealed within 3 years of their initial installation. Thereafter, a 4 to 5
year cycle should be observed and adjusted according to the client's particular needs.
The cost includes any restriping that may be necessary.
The actual date this item was placed in service was not available. For budgeting purposes, we
have estimated this date based upon its present condition.
The replacement cost for this asset has been adjusted downward due to the large quantity to be
replaced or maintained.
Asphalt Pavement - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 25
$48,496
$29,149
$29,149
Sample Reserve Study
RA Detail Report by Category
Roofs - Built Up w/Gravel, Replace - 2015
Asset ID
1001
Placed in Service
Useful Life
Roofing
June 2001
14
Replacement Year
Remaining Life
2015
12
5,090 sq. ft.
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
@ $3.61
$18,374.90
100%
$26,198.21
none
Monthly Assessment
Interest Contribution
Reserve Allocation
$160.12
$1.54
$161.67
The client advises that these roofs were replaced during June 2001 for $18,476.
Main building
Building A
Total =
3,890
1,200
5,090
sq. ft.
It is recommended that the association secure cost proposals for the roofing replacement from
qualified roofing contractors or consultants as soon as practical. Roofing costs have risen
significantly due to new environmental and safety regulations, as well as higher costs of
materials. In addition, existing or changes to roofing specifications, choice of the quality of the
product, possible structural repairs, or other unknown factors can add to the cost. We can amend
this analysis using the current cost proposals in an updated or revised reserve study when the
information becomes available.
In order to ensure a high quality installation, the client may wish to obtain the services of an
independent roofing consultant to work with the client and the roofing contractor providing
installation. Consultants are available for the preparation of installation specifications and, if
desired, to work with the contractor during the installation process. We have been advised that
fees vary upon the size of the job and the extent of detail required by the client. However, fees
for a consultant should not exceed six to eight percent of the actual roof replacement cost. The
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 26
Sample Reserve Study
RA Detail Report by Category
Roofs - Built Up w/Gravel, Replace Continued...
costs we have used do not include this additional expense. Should the client request, we will be
happy to incorporate this into our calculations.
The cost used on this component includes the removal and disposal of the existing material.
The roofing specifications are unknown; therefore, the cost used on this built-up roof is based
upon replacing it with a 3-ply roof membrane. The useful life estimate is based upon the
assumption that the roof will be inspected annually and maintained as needed.
Roofing - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 27
$18,375
$0
$2,625
Sample Reserve Study
RA Detail Report by Category
Gutters & Downspouts - Replace - 2012
Asset ID
1004
Gutters & Downspouts
Placed in Service
January 1990
Useful Life
22
Replacement Year
Remaining Life
2012
9
170 lin. ft.
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
@ $7.13
$1,212.10
100%
$1,581.51
$716.24
Monthly Assessment
Interest Contribution
Reserve Allocation
$6.03
$1.32
$7.35
There are gutters and downspouts on Building A only.
gutters
downspouts
Total =
110
60
170
Gutters & Downspouts - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 28
sq. ft.
$1,212
$716
$716
Sample Reserve Study
RA Detail Report by Category
Skylights - Roof, Replace - 2012
Asset ID
1013
Placed in Service
Useful Life
Skylights
January 1990
22
Replacement Year
Remaining Life
2012
9
2 skylights
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
@ $670.00
$1,340.00
100%
$1,748.39
$791.81
Monthly Assessment
Interest Contribution
Reserve Allocation
$6.66
$1.46
$8.13
These skylights are 4' by 3'.
Skylights - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 29
$1,340
$792
$792
Sample Reserve Study
RA Detail Report by Category
Paint - Lobby, Atrium, & Halls - 2006
Asset ID
1011
Painting, Interior
Placed in Service
January 1998
Useful Life
8
Replacement Year
Remaining Life
2006
3
18,870 sq. ft.
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
@ $0.56
$10,567.20
100%
$11,547.06
$6,604.50
Monthly Assessment
Interest Contribution
Reserve Allocation
$121.57
$12.84
$134.42
This is the interiors for the main building. Building A has no interiors.
entry doors
lobby
hallway/atrium, 1st floor
hallway, 2nd floor
hallway, 3rd floor
hallway, 4th floor
garage, wall only
stairwells
Total =
690
1,130
4,380
1,610
1,610
420
3,840
5,190
18,870
sq. ft.
The actual date this item was placed in service was not available. For budgeting purposes, we
have estimated this date based upon its present condition.
Painting, Interior - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 30
$10,567
$6,604
$6,604
Sample Reserve Study
RA Detail Report by Category
Paint - Metal - 2006
Asset ID
1067
Painting, Exterior
Placed in Service
January 2001
Useful Life
5
Replacement Year
Remaining Life
2006
3
2,148 sq. ft.
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
@ $1.11
$2,384.28
100%
$2,605.36
$953.71
Monthly Assessment
Interest Contribution
Reserve Allocation
$42.82
$2.09
$44.92
This asset budgets for painting the metal fencing, gates and deck railing.
Paint - Stucco - 2011
Asset ID
1007
Placed in Service
Useful Life
Painting, Exterior
January 2001
10
Replacement Year
Remaining Life
2011
8
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$37,975.00
100%
$48,105.59
$7,595.00
Monthly Assessment
Interest Contribution
Reserve Allocation
$374.60
$17.04
$391.65
The client advises that the entire association was painted, interior and exteriors for a total of
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 31
Sample Reserve Study
RA Detail Report by Category
Paint - Stucco Continued...
$54,139 during May 2002.
This is a five story building.
24,500 - sq. ft. of stucco, Main Building
@
$1.55 =
Total =
$37,975.00
$37,975.00
The actual date this item was placed in service was not available. For budgeting purposes, we
have estimated this date based upon its present condition.
Paint - Wood Siding - 2006
Asset ID
1066
Placed in Service
Useful Life
Painting, Exterior
January 2001
5
Replacement Year
Remaining Life
2006
3
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$1,340.00
100%
$1,464.25
$536.00
Monthly Assessment
Interest Contribution
Reserve Allocation
$24.06
$1.17
$25.24
This is a two story building.
2,000 - sq. ft., siding, bldg A
@
$0.67 =
Total =
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 32
$1,340.00
$1,340.00
Sample Reserve Study
RA Detail Report by Category
Painting, Exterior - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 33
$41,699
$9,085
$9,085
Sample Reserve Study
RA Detail Report by Category
Fence - Steel, Pool, Replace - 2008
Asset ID
1016
Placed in Service
Useful Life
Fencing
January 1990
18
Replacement Year
Remaining Life
2008
5
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$15,685.60
100%
$18,183.90
$11,328.48
Monthly Assessment
Interest Contribution
Reserve Allocation
$88.63
$20.87
$109.51
This is painted steel tubular fencing with a spear top.
120 - lin. ft. of 6'H fencing, pool
1 - gate, 2'W x 6'H
150 - lin. ft., driveway, 6'H
1 - vehicle gate, 18'x6'H, driveway
@
@
@
@
$46.58 =
192.00 =
46.58 =
2,917.00 =
Total =
Fencing - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 34
$5,589.60
192.00
6,987.00
2,917.00
$15,685.60
$15,686
$11,328
$11,328
Sample Reserve Study
RA Detail Report by Category
Pool - Filter, Replace - 2014
Asset ID
1063
Placed in Service
Useful Life
Pool
January 2002
12
Replacement Year
Remaining Life
2014
11
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$1,292.00
100%
$1,788.42
$107.66
Monthly Assessment
Interest Contribution
Reserve Allocation
$11.14
$0.29
$11.43
The pool contractor advises that this Purex 60 sq. ft. pool filter was placed in serviced during
2002.
The actual month this item was placed in service was not available. For budgeting purposes we
have used the month corresponding to the beginning of the client's fiscal year.
Pool - Replaster/Tile Replacement - 2012
Asset ID
1060
Placed in Service
Useful Life
Pool
January 2000
12
Replacement Year
Remaining Life
2012
9
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$6,207.20
100%
$8,098.98
$1,551.80
Monthly Assessment
Interest Contribution
Reserve Allocation
$52.41
$3.24
$55.66
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 35
Sample Reserve Study
RA Detail Report by Category
Pool - Replaster/Tile Replacement Continued...
The pool appears to be in good condition.
800 - sq. ft. of pool replastering
120 - lin. ft. of trim tile
20 - lin. ft. of lane tile
@
@
@
$5.12 =
15.08 =
15.08 =
Total =
$4,096.00
1,809.60
301.60
$6,207.20
The actual date this item was placed in service was not available. For budgeting purposes, we
have estimated this date based upon its present condition.
Pool Furniture - Replacement - 2008
Asset ID
1061
Placed in Service
Useful Life
Pool
January 2001
7
Replacement Year
Remaining Life
2008
5
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$1,646.00
100%
$1,908.16
$470.28
Monthly Assessment
Interest Contribution
Reserve Allocation
$21.92
$1.04
$22.96
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 36
Sample Reserve Study
RA Detail Report by Category
Pool Furniture - Replacement Continued...
This Tropi-Kai style furniture appears to be in good conditon.
4 - chairs
1 - bruch table
1 - fabric umbrella
$220.00 =
362.00 =
404.00 =
Total =
@
@
@
$880.00
362.00
404.00
$1,646.00
Pool Heater - Replacement - 2003
Asset ID
1062
Placed in Service
Useful Life
Pool
January 1990
12
Replacement Year
Remaining Life
2003
0
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$2,164.00
100%
$2,164.00
$2,164.00
Monthly Assessment
Interest Contribution
Reserve Allocation
$18.85
$0.18
$19.04
The pool contractor advises that this 400K Teledyne Laars pool heater is original and is in poor
condition.
Pool - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 37
$11,309
$4,294
$4,294
Sample Reserve Study
RA Detail Report by Category
Play Equipment - Replace - 2016
Asset ID
1064
Placed in Service
Useful Life
Play Equipment
January 2000
16
Replacement Year
Remaining Life
2016
13
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$12,000.00
100%
$17,622.40
none
Monthly Assessment
Interest Contribution
Reserve Allocation
$98.34
$0.95
$99.29
The actual date this item was placed in service was not available. For budgeting purposes, we
have estimated this date based upon its present condition.
Play Equipment - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 38
$12,000
$0
$2,250
Sample Reserve Study
RA Detail Report by Category
Railing - Ext, Wrght Iron, Replace - 2008
Asset ID
1053
Placed in Service
Useful Life
Railings, Metal
January 1990
18
Replacement Year
Remaining Life
2008
5
120 - lin. ft. of 3.5'H railing, decks
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$3,483.60
100%
$4,038.44
$2,515.93
Monthly Assessment
Interest Contribution
Reserve Allocation
$19.68
$4.63
$24.32
@
$29.03 =
Total =
Railings, Metal - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 39
$3,483.60
$3,483.60
$3,484
$2,516
$2,516
Sample Reserve Study
RA Detail Report by Category
Lighting - Ceiling Recess Rounds, Replace - 2020
Asset ID
1026
Lighting, Interior
Placed in Service
August 1998
Useful Life
22
Replacement Year
Remaining Life
2020
17
12 fixtures
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
@ $125.00
$1,500.00
100%
$2,479.27
none
Monthly Assessment
Interest Contribution
Reserve Allocation
$10.12
$0.09
$10.22
The client advises that all light fixtures were replaced or modified during August1998, to reduce
electricity usage and, therefore reduce costs . The hallway wall sconces, emergency double
spots, and EXIT signs were not part of this program.
Lighting - EXIT/Emergency, Replace - 2012
Asset ID
1022
Placed in Service
Useful Life
Lighting, Interior
January 1990
22
Replacement Year
Remaining Life
2012
9
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$5,434.00
100%
$7,090.13
$3,211.00
Monthly Assessment
Interest Contribution
Reserve Allocation
$27.04
$5.93
$32.97
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 40
Sample Reserve Study
RA Detail Report by Category
Lighting - EXIT/Emergency, Replace Continued...
13 - EXIT emergency signs
@ $418.00 =
Total =
$5,434.00
$5,434.00
Lighting - Fluorescent Fixtures, Replace - 2020
Asset ID
1020
Placed in Service
Useful Life
Lighting, Interior
August 1998
22
Replacement Year
Remaining Life
2020
17
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$6,294.00
100%
$10,403.02
none
Monthly Assessment
Interest Contribution
Reserve Allocation
$42.47
$0.41
$42.88
The client advises that all light fixtures were replaced or modified during August 1998, to reduce
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 41
Sample Reserve Study
RA Detail Report by Category
Lighting - Fluorescent Fixtures, Replace Continued...
electricity usage and, therefore reduce costs .
24 - fluor, 8' dbl, w/o lens, garage
3 - fluor, 4' dbl, w/o lens, garage
15 - fluor, 4' dbl, w/lens, hallways
Lighting - Wall Sconces, Replace - 2012
Asset ID
1024
Placed in Service
Useful Life
Lighting, Interior
January 1990
22
Replacement Year
Remaining Life
2012
9
$166.00 =
100.00 =
134.00 =
Total =
@
@
@
$3,984.00
300.00
2,010.00
$6,294.00
39 sconces
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
@ $156.00
$6,084.00
100%
$7,938.23
$3,595.09
Monthly Assessment
Interest Contribution
Reserve Allocation
$30.27
$6.64
$36.92
These wall sconces are located in the hallways.
Lighting, Interior - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 42
$19,312
$6,806
$8,577
Sample Reserve Study
RA Detail Report by Category
Lighting - Buildings, Replace - 2012
Asset ID
1068
Lighting, Exterior
Placed in Service
January 1990
Useful Life
22
Replacement Year
Remaining Life
2012
9
4 - vapor flood fixtures, Main Building
2 - wall mount lanterns, Building A
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$1,810.00
100%
$2,361.63
$1,069.54
Monthly Assessment
Interest Contribution
Reserve Allocation
$9.00
$1.97
$10.98
@
@
$425.00 =
55.00 =
Total =
$1,700.00
110.00
$1,810.00
All cost estimates have been calculated based upon the original inventory as identified in this
section. It is likely that future replacements will vary and therefore the cost used may be
considered as a general indication of budgetary needs rather than specific for these components.
Lighting, Exterior - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 43
$1,810
$1,070
$1,070
Sample Reserve Study
RA Detail Report by Category
Floor Cover - Carpet, Halls, Replace - 2005
Asset ID
1027
Placed in Service
Useful Life
Floor Cover
January 1999
6
Replacement Year
Remaining Life
2005
2
160 sq. yds.
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
@ $47.38
$8,111.45
107%
$8,605.44
$5,407.63
Monthly Assessment
Interest Contribution
Reserve Allocation
$121.11
$10.72
$131.84
The client advises that this new carpeting was installed during December 1998 for $6,998.
1st floor
2nd floor
3rd floor
4th floor
Total =
45
50
50
15
160
sq. yrds.
The measurement indicated represents the actual area to be replaced. The percentage of
replacement has been increased above 100% to allow for a waste factor which should be
considered when replacing this component.
The current cost used on this asset is based upon actual expenditures incurred at last
replacement, and has been adjusted for inflation where applicable.
Date For budgeting purposes, we have used the next fiscal year's beginning date as the placed-inservice date for this component.
Floor Cover - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 44
$8,111
$5,408
$5,408
Sample Reserve Study
RA Detail Report by Category
Boiler - Hot Water System, Replace - 2032
Asset ID
1039
Hot Water System
Placed in Service
March 2002
Useful Life
30
Replacement Year
Remaining Life
2032
29
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$15,470.00
100%
$36,456.06
none
Monthly Assessment
Interest Contribution
Reserve Allocation
$76.16
$0.73
$76.90
This is a 15,500 KBTU input, Teledyne Laars boiler. The client advises that it was replaced
during March 2002 for $15,000.
The cost estimates on this asset were originally provided by the client, and have been adjusted to
allow for inflationary changes.
Hot Water Storage Tank - Replace - 2018
Asset ID
1040
Placed in Service
Useful Life
Hot Water System
March 2002
16
Replacement Year
Remaining Life
2018
15
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$3,000.00
100%
$4,673.90
none
Monthly Assessment
Interest Contribution
Reserve Allocation
$22.11
$0.21
$22.32
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 45
Sample Reserve Study
RA Detail Report by Category
Hot Water Storage Tank - Replace Continued...
This is an insulated, 150 gallon, hot water storage tank. The client advises that this water storage
tank was placed in service during March 2002 with the boiler for $2,913.
The current cost used on this asset is based upon actual expenditures incurred at last
replacement, and has been adjusted for inflation where applicable.
Hot Water System - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 46
$18,470
$0
$703
Sample Reserve Study
RA Detail Report by Category
Elevator - Cab Refurbishing - 2004
Asset ID
1036
Placed in Service
Useful Life
Elevator
January 1990
14
Replacement Year
Remaining Life
2004
1
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$6,200.00
100%
$6,386.00
$5,757.14
Monthly Assessment
Interest Contribution
Reserve Allocation
$41.82
$10.57
$52.40
This is a 5' x 6.5' elevator cab. The cab has carpeted walls with a mid-grade of carpet and tile
flooring with a non-skid rubber mat. Lighting in the cab is a large round fluorescent fixture.
Elevator - Major Repairs - 2008
Asset ID
1037
Placed in Service
Useful Life
Elevator
January 1990
18
Replacement Year
Remaining Life
2008
5
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$11,000.00
100%
$12,752.01
$7,944.44
Monthly Assessment
Interest Contribution
Reserve Allocation
$62.16
$14.63
$76.79
This category is for the additional major repair costs associated with hydraulic style elevators
such as valve and cylinder replacements. Cab refurbishing alone is generally sufficient for
traction style elevators as all additional maintenance is usually covered within the elevator
service agreements.
Elevator - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 47
$17,200
$13,702
$13,702
Sample Reserve Study
RA Detail Report by Category
Security - Gate Operators, Sliding, Replace - 2004
Asset ID
1030
Placed in Service
Useful Life
Adjustment
Replacement Year
Remaining Life
Gate Operator
January 1990
12
2
2004
1
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$1,895.00
100%
$1,951.85
$1,759.64
Monthly Assessment
Interest Contribution
Reserve Allocation
$12.78
$3.23
$16.01
The gate operator opens the driveway vehicle gate. It appears to be in working order.
The useful life of this asset has been extended due to its present condition.
Gate Operator - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 48
$1,895
$1,760
$1,760
Sample Reserve Study
RA Detail Report by Category
Security - Access Phone, Replace - 2004
Asset ID
1028
Placed in Service
Useful Life
Adjustment
Replacement Year
Remaining Life
Security
January 1990
12
2
2004
1
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$2,512.00
100%
$2,587.36
$2,332.57
Monthly Assessment
Interest Contribution
Reserve Allocation
$16.94
$4.28
$21.23
This is a Nutone, "hands free", access phone. It is in working condition.
The useful life of this asset has been extended due to its present condition.
Security - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 49
$2,512
$2,333
$2,333
Sample Reserve Study
RA Detail Report by Category
Doors - Exterior, Metal, Replace - 2015
Asset ID
1014
Placed in Service
Useful Life
Doors, Exterior
January 1990
25
Replacement Year
Remaining Life
2015
12
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$8,161.00
100%
$11,635.63
$3,280.39
Monthly Assessment
Interest Contribution
Reserve Allocation
$45.32
$6.23
$51.56
9 - doors, 3'W x 7'H, solid core, stairwells
@ $473.00 =
6 - doors, 3'W x 7'H, solid core, parking area @ 473.00 =
2 - doors, 4'W x 8'H, Main Bldg, util, 2 vents @ 533.00 =
Total =
Doors, Exterior - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 50
$4,257.00
2,838.00
1,066.00
$8,161.00
$8,161
$3,280
$4,244
Sample Reserve Study
RA Detail Report by Category
Irrigation Controller - Replace - 2003
Asset ID
1046
Landscape Equipment
Placed in Service
January 1990
Useful Life
12
Replacement Year
Remaining Life
2003
0
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
$1,728.00
100%
$1,728.00
$1,728.00
Monthly Assessment
Interest Contribution
Reserve Allocation
$15.05
$0.14
$15.20
The landscape contractor advises that these Irritrol irrigation controllers are in poor condition.
2 - 8 station controllers
@
$864.00 =
Total =
$1,728.00
$1,728.00
The information used on this asset has been provided with the assistance of the client's
maintenance contractor.
Landscape Equipment - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 51
$1,728
$1,728
$1,728
Sample Reserve Study
RA Detail Report by Category
Mailboxes - Wall Clusters, Replace - 2006
Asset ID
1047
Placed in Service
Useful Life
Mailboxes
January 1990
16
Replacement Year
Remaining Life
2006
3
35 boxes
Asset Cost
Percent Replacement
Future Cost
Assigned Reserves
@ $45.00
$1,575.00
100%
$1,721.04
$1,279.68
Monthly Assessment
Interest Contribution
Reserve Allocation
$9.64
$2.35
$12.00
These mailboxes are located in the lobby.
Mailboxes - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 52
$1,575
$1,280
$1,280
Sample Reserve Study
RA Detail Report by Category
Contingency or Operational Funded
These components are intended to be funded by reserve contingency, or operational contingency,
or the operational account, or not intended to be funded at all. See the individual component
detail for specific information. All of these components have been arbitrarily grouped together.
Traffic Signs
Asset ID
1070
Contingency
There are several traffic signs within the association. These signs are currently maintained by
the city and are expected to have a useful life equal to the life of the community. They should
only need to be replaced due to weather or vandalism and in the event that the city will no longer
maintain the signs they will be budgeted for in the operation budget of the association. The
condition of the signs at the time of the last field inspection was near new.
Contingency - Total Current Cost
Assigned Reserves
Fully Funded Reserves
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 53
$0
$0
$0
Sample Reserve Study
RA Detail Report by Category
Detail Report Summary
Total of All Assets
Assigned Reserves
Monthly Contribution
Monthly Interest
Monthly Allocation
$101,850.00
$1,495.41
$187.75
$1,683.17
Contingency at 3.00%
Assigned Reserves
Monthly Contribution
Monthly Interest
Monthly Allocation
$3,150.00
$46.25
$5.80
$52.05
Grand Total
Assigned Reserves
Monthly Contribution
Monthly Interest
Monthly Allocation
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 54
$105,000.00
$1,541.66
$193.56
$1,735.23
Sample Reserve Study
RA Program Features & Benefits - Page 3
Several stock charts to choose from are completely and easily edited
Print sections/pages selectable (user choice to print only one page if
needed)
Prints on any Windows printer
Versatile report options
Insert user defined pages to the report for project specific information
Charts & User Defined pages can be opened and edited in Microsoft
Word
Project Assets database can be opened and edited in Microsoft
Access
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 55
Sample Reserve Study
RA Category Detail Index
Number
Description
Replacement
Page
1069
1039
1014
1036
1037
1016
1027
1004
1040
1046
1068
1026
1022
1020
1024
1047
1011
1067
1007
1066
1064
1063
1060
1061
1062
1053
1001
1028
1030
1013
1058
1059
1070
Asphalt Overlay
Boiler - Hot Water System, Replace
Doors - Exterior, Metal, Replace
Elevator - Cab Refurbishing
Elevator - Major Repairs
Fence - Steel, Pool, Replace
Floor Cover - Carpet, Halls, Replace
Gutters & Downspouts - Replace
Hot Water Storage Tank - Replace
Irrigation Controller - Replace
Lighting - Buildings, Replace
Lighting - Ceiling Recess Rounds, Replace
Lighting - EXIT/Emergency, Replace
Lighting - Fluorescent Fixtures, Replace
Lighting - Wall Sconces, Replace
Mailboxes - Wall Clusters, Replace
Paint - Lobby, Atrium, & Halls
Paint - Metal
Paint - Stucco
Paint - Wood Siding
Play Equipment - Replace
Pool - Filter, Replace
Pool - Replaster/Tile Replacement
Pool Furniture - Replacement
Pool Heater - Replacement
Railing - Ext, Wrght Iron, Replace
Roofs - Built Up w/Gravel, Replace
Security - Access Phone, Replace
Security - Gate Operators, Sliding, Replace
Skylights - Roof, Replace
Streets - Asphalt Repairs
Streets - Asphalt Seal Coat
Traffic Signs
2010
2032
2015
2004
2008
2008
2005
2012
2018
2003
2012
2020
2012
2020
2012
2006
2006
2006
2011
2006
2016
2014
2012
2008
2003
2008
2015
2004
2004
2012
2007
2007
unfunded
2 - 23
2 - 45
2 - 50
2 - 47
2 - 47
2 - 34
2 - 44
2 - 28
2 - 45
2 - 51
2 - 43
2 - 40
2 - 40
2 - 41
2 - 42
2 - 52
2 - 30
2 - 31
2 - 31
2 - 32
2 - 38
2 - 35
2 - 35
2 - 36
2 - 37
2 - 39
2 - 26
2 - 49
2 - 48
2 - 29
2 - 23
2 - 24
2 - 53
Total Funded Assets
Total Unfunded Assets
Total Assets
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 56
32
1
33
Sample Reserve Study
RA Annual Asset Expenditure Charts
Annual Expenditures
120,000
100,000
80,000
60,000
40,000
20,000
0
'03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32
Fiscal Year
Asset Current Cost By Category
Asphalt Pavement
4%
5%
Painting, Exterior
4%
Lighting, Interior
21%
Hot Water System
5%
Roofing
5%
Elevator
7%
Fencing
18%
7%
Play Equipment
Pool
8%
8%
8%
Painting, Interior
Doors, Exterior
Other
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 57
Sample Reserve Study
RA Funding Model Comparison By Percent Funded Chart
Funding Model Comparison By Percentage Funded
120%
Percent Fully Funded
100%
80%
60%
40%
20%
0%
'03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32
Fiscal Year
Current Funding Model
Threshold Funding Model
Component Funding Model
The chart above compares the three funding models (Current Assessment Funding Model, Threshold
Funding Model and Component Funding Model) by the percentage fully funded over 30 years. This
allows your association to view and then choose the funding model that might best fit your community’s
needs.
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 58
Sample Reserve Study
RA Funding Model Reserve Ending Balance Comparison Chart
Funding Model Comparison
Projected Reserve Ending Balances
450,000
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
0
'03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32
Fiscal Year
Current Funding Model
Threshold Funding Model
Component Funding Model
Fully Funded
The chart above compares the projected reserve ending balances of the three funding models (Current
Assessment Funding Model, Threshold Funding Model and Component Funding Model) over 30 years.
RESERVE ANALYST, LLC •800.561.0173
PAGE 2 - 59