Email from Project Manager of our study.
Study received 30 June 2023:
Links to the THREE cost center presentations are below.

Thank you again for your patience and assistance in completing this project. The completed Reserve Studies are attached for you here. Based on the overall outcome, we are recommending increases to the budgeted Reserve funding for the 2024 fiscal year. Please refer to the Executive Summary, as well as the 30-Year Reserve Plan Summary table for more specific information on the funding plan. We also strongly encourage you to review the Component Details section at the end of the document for specific commentary, photos, and observations of each component. Some points to consider as you review:

  • I aimed to be as comprehensive as possible but know it would take much more time to become fully familiar with the property. Thus, please feel free to provide all commentary/feedback regarding potential differences in opinion for certain components based on the association’s history.  
  • The point of view we take for the purposes of the report is at what point an association should be “financially capable” of completing a project, not a mandate for the timeline it must be completed. As an example, a mechanical component may outlive the life expectancy listed in the report. Yet, the association should still have adequate funds at the end of the anticipated life expectancy for replacement.
  • We strongly encourage the Association to use the Pooled method for Reserve funding. However, if they choose to continue with the Straight-line/Component method, the recommended funding amounts for that method are included in the table on page 32/33 of the reports.
  • As this report is not a mandate for components, it is also not one for financial recommendations. We acknowledge that there is a plethora of possibilities that an association can take regarding Reserves, and multiple factors that should be considered when creating a multi-year funding plan (i.e. inflation, interest, Reserve contribution increases). As such, Association Reserves has generated a useful tool referred to as UPlanIt within our client center. This tool allows authorized users to adjust individual component details, financial assumptions (interest/inflation), and contribution amounts over multiple years to see different corresponding outcomes. Thus, the association could use this tool to test as many scenarios or adjustments as desired at the representatives’ discretion. Complimentary access to our uPlanIt tool which is provided within this engagement will expire March 31, 2024.
  • Also within our client center is a complimentary sneak peek of our recent publication, “Understanding Reserves”. 

This study was prepared showing three distince COST CENTERS:
Common Area Components (See Extract of key pages)
Townhomes (See Extract of key pages)
Duplexes (See Extract of key pages)