Full Reserve Study

Armstrong Community Development District Orange Park, Florida
Prepared for FY 2023 Report Date: May 1, 2023

May 1, 2023

Ms. Marilee Giles, District Manager Governmental Management Services 475 West Town Place, Suite 114
St. Augustine Florida 32092

Re: Reserve Study Report for Armstrong Community Development District Dear Ms. Giles:
Community Advisors is pleased to provide this Reserve Study report for the above referenced District. A site visit was conducted to determine the condition of your major components and provide an opinion of their remaining useful life.

We have developed a plan to fund future capital component replacements which is dependent on adequate funding, component maintenance, usage, weather and other factors. Component replacement cost is determined using local vendors and industry standard publications. This Reserve Study was prepared under the guidelines of the National Reserve Study Standards which is administrated by CAI and the Standards of Practice establish by APRA. Once you have reviewed this report and considered recent expenditures and any historic cost data, we will make necessary adjustments

Respectively submitted,

Charles R. Sheppard RS PRA CCI
Professional Reserve Analyst
10459 Hunters Creek Court Jacksonville, FL 32256
(904) 303-3275
www.communityadvisors.comm

SPECIAL NOTICE
THIS RESERVE ANALYLSIS INCLUDED A VISUAL OBSERVATION OF MAJOR COMPONENTS FOR YOUR PROPERTY. NO DISTRUCTION TESTING OR OTHER TESTING WAS CONDUCTED TO DETERMINE COMPONENT CONDITION. OUR ANALYSIS INCLUDES COMPONENTS WITH REPLACEMENT COST AND USEFUL LIFE PROJECTIONS THAT ARE TYPICAL FOR THIS TYPE OF FACILITY.

THIS ANALYSIS IS NOT A SAFETY INSPECTION OR STRUCTURAL INSPECTION AND WE RECOMMEND THE ASSOCIATION CONDUCT THOSE INSPECTIONS ON A REGULAR BASIS WITH OTHER CONSULTANTS.

TABLE OF CONTENTS

EXECUTIVE SUMMARY
Executive Summary	1-1
Financial Summary - Recommended Funding Plan	1-2
Cash Flow Funding Plan VS Fully Funded	1-3
Current Funding Plan vs Recommended Funding Plan	1-4
CURRENT FUNDING PLAN - SECTION NOT USED CASH FLOW
Income & Expense Spreadsheet	3-1
EXPENDITURE DETAIL
Annual Expenditure Detail	4-1
Asset Current Cost by Category	4-5
COMPONENT INVENTORY
Component Inventory	5-1
Component Detail Index	5-4
Component Detail	5-6
DISCLOSURERS & INFORMATION
Report Navigation	6-1
Methodology & Information	6-2
Terms of Service	6-3
Definitions	6-4

Executive Summary

Account Information
Account Name	Armstrong Community Development District	Account Number	1910
City	Orange Park	Last Site Visit	April, 14 2023	
State	Florida	Report Date	May, 1 2023	
In Service Date	August, 1 2019	Report Version	2	
Total Units	483	Fiscal Year Start	October, 1 2023	
Study Level	Level I Reserve Study	Fiscal year End	September, 30 2024	

Reserve Fund Information
Current Component Replacement Cost	$838,500
Number of Components	45
Reserve Fund Beginning Balance	$0
Billing Term	Annually

Component Funding (Straight Line)
Recommended First Year Reserve Fund Contribution	$66,656
Interest Rate on Reserve Deposits	0%
Inflation Rate on Replacement Cost	0%

Pooled Cash (Current Funding Plan) THIS SECTION NOT USED

Current Year Reserve Fund Contribution Interest Rate on Reserve Deposits Inflation Rate on Replacement Cost Annual Contribution Increases		
Pooled Cash (Recommended Funding Plan)		
Recommended First Year Reserve Fund Contribution	$53,288	
Interest Rate on Reserve Deposits	4.0%	
Inflation Rate on Replacement Cost	3.5%	
Annual Contribution Increases	1.0%	
Comments		
Date in service for components is the month of the Certificate of Occupancy. Streets are not included per District Manager.
The District has not established reserves, therefore the current contribution section of the report is omitted.
Recommended funding plan requires moderate contributions for adequate funding.

Armstrong Community Development District Financial Summary - Recommended Funding Plan

Begining Balance: $0	Fully Funded: $214,524	Tax Rate:0%

Year		

23-24	
838,500	
3.5%	
53,288	
0	
4.00%			
53,288	
266,439	
20%	
24-25	867,848	3.5%	53,821	0	4.00%	4,284		111,393	321,725	35%	
25-26	898,222	3.5%	54,359	0	4.00%	6,193	10,915	161,030	369,258	44%	
26-27	929,660	3.5%	54,903	0	4.00%	8,274	9,091	215,115	422,007	51%	
27-28	962,198	3.5%	55,452	0	4.00%	10,823		281,389	487,735	58%	
28-29	995,875	3.5%	56,006	0	4.00%	13,496		350,891	557,546	63%	
29-30	1,030,731	3.5%	56,566	0	4.00%	16,298		423,756	631,647	67%	
30-31	1,066,806	3.5%	57,132	0	4.00%	10,266	224,237	266,917	478,168	56%	
31-32	1,104,144	3.5%	57,703	0	4.00%	12,985		337,605	553,378	61%	
32-33	1,142,789	3.5%	58,280	0	4.00%	14,832	25,095	385,621	607,433	63%	
33-34	1,182,787	3.5%	58,863	0	4.00%	11,347	160,808	295,023	525,039	56%	
34-35	1,224,185	3.5%	59,452	0	4.00%	13,700	11,972	356,203	596,005	60%	
35-36	1,267,031	3.5%	60,046	0	4.00%	16,650		432,899	684,119	63%	
36-37	1,311,377	3.5%	60,647	0	4.00%	19,742		513,287	777,672	66%	
37-38	1,357,275	3.5%	61,253	0	4.00%	22,982		597,521	876,935	68%	
38-39	1,404,780	3.5%	61,866	0	4.00%	23,048	83,180	599,255	896,102	67%	
39-40	1,453,947	3.5%	62,484	0	4.00%	25,763	17,668	669,834	986,355	68%	
40-41	1,504,835	3.5%	63,109	0	4.00%	29,318		762,261	1,100,755	69%	
41-42	1,557,505	3.5%	63,740	0	4.00%	33,040		859,041	1,221,954	70%	
42-43	1,612,017	3.5%	64,378	0	4.00%	22,753	354,602	591,570	983,276	60%	
43-44	1,668,438	3.5%	65,021	0	4.00%	18,239	200,611	474,220	898,620	53%	
44-45	1,726,833	3.5%	65,672	0	4.00%	20,918	16,937	543,872	1,004,203	54%	
45-46	1,787,272	3.5%	66,328	0	4.00%	24,408		634,609	1,134,220	56%	
46-47	1,849,827	3.5%	66,992	0	4.00%	27,165	22,479	706,287	1,248,841	57%	
47-48	1,914,571	3.5%	67,661	0	4.00%	30,958		804,906	1,394,177	58%	
48-49	1,981,581	3.5%	68,338	0	4.00%	12,227	567,581	317,890	960,710	33%	
49-50	2,050,936	3.5%	69,021	0	4.00%	15,476		402,388	1,103,199	36%	
50-51	2,122,719	3.5%	69,712	0	4.00%	18,054	20,759	469,394	1,233,001	38%	
51-52	2,197,014	3.5%	70,409	0	4.00%	21,592		561,395	1,392,774	40%	
52-53	2,273,910	3.5%	71,113	0	4.00%	25,300		657,808	1,562,221	42%	

Chart illustrates year end balances and expenditures with the level of contributions necessary to maintain adequate funding.

This chart illustrates annual expenditures and compares the current funding plan to the recommended funding plan.

	23-24	24-25	25-26	26-27	27-28	28-29	29-30	30-31	31-32	32-33	
Beginning Balance		53,288	111,393	161,030	215,115	281,389	350,891	423,756	266,917	337,605	
Annual Assessment	53,288	53,821	54,359	54,903	55,452	56,006	56,566	57,132	57,703	58,280	
Interest Earned		4,284	6,193	8,274	10,823	13,496	16,298	10,266	12,985	14,832	
Expenditures			10,915	9,091				224,237		25,095	
Fully Funded Reserves	266,439	321,725	369,258	422,007	487,735	557,546	631,647	478,168	553,378	607,433	
Percent Fully Funded	20%	35%	44%	51%	58%	63%	67%	56%	61%	63%	
Ending Balance	53,288	111,393	161,030	215,115	281,389	350,891	423,756	266,917	337,605	385,621	

Description											

Pedestal Cluster Mailboxes

Misc. Site Components
Misc. Site Components Total:

Asphalt Mill/Overlay - Amenity Lot

Street/Lot Resurfacing
Street/Lot Resurfacing Total:

Aluminum Fence - Amenity
Chain Link Fence VC - Tennis/Basketball Courts

Fencing & Gates
Wood/Wire Fence - Dog Park

Fencing & Gates Total:

Decorative Light Poles - Amenity

Site Lighting
Misc. Building Components

Refurbishment Allowance - Restrooms Windows/Ext. Door Allowance - Clubhouse

Misc. Building Components Total:

Standing Seam Metal Roof - Clubhouse

Roofing

Description

23-24	24-25	25-26	26-27	27-28	28-29	29-30	30-31	31-32	32-33

Exterior Painting		
Clubhouse		9,091			
Exterior Painting Total:		9,091			
Flooring					
Rubber Flooring - Fitness Room				11,208	
Flooring Total:				11,208	
Furniture Fixtures & Equipment					
Access Control System - Amenity
Camera System Allowance					
Fitness Equipment Allowance
Pool Furniture Allowance (full replacement)					
Furniture Fixtures & Equipment Total:					
HVAC					
Heat Pump - Fitness Room 3.5 Ton			7,125		
Heat Pump - Office/Restrooms 3.5 Ton Aaon Unit			11,451		
HVAC Total:			18,575		
Swimming Pool					
Concrete Pavers - Pool Deck
Pool Filtration Refurbishment Allowance					
Pool Lift
Pool Resurfacing/Tile			
167,493		
Retractable Shade Sails
Shade Structure Frame/Fabric - Pool			38,168		
Swimming Pool Total:			205,661		
Tennis/Basketball Courts					
Asphalt Resurfacing (color coat)
Basketball Pole/Goal	10,915			13,887	
Tennis/Basketball Courts Total:	10,915			13,887	

23-24	24-25	25-26	26-27	27-28	28-29	29-30	30-31	31-32	32-33
Description

Play Equipment Allowance

Playground
Playground Total:

Concrete Walk/Curb Repair Dumpster Enclosure/Gates

Unfunded Unfunded

Operating Expense
Exhaust Fans	Unfunded

Landscape Replacement Monument Sign Refurbishment

Unfunded Unfunded

Irrigation Repair	Unfunded
Park Benches/Trash Cans	Unfunded

Pool Play Equip. Refurbish Allowance Pool Pumps/Equip. Partial Replacement

Unfunded Unfunded

Pool Furniture Allowance (partial replacement)	Unfunded
Shade Structure Fabric - Pool	Unfunded
Water Coolers	Unfunded

Building Foundation/Frame Concrete Pavers - Roundabout

Unfunded Unfunded

Components Not Included
Lightning Protection System	Unfunded

Stormwater Pond Pipe/Structures Stormwater System Evaluation

Unfunded Unfunded

Stormwater Pond Dredging	Unfunded
Tennis/Basketball Court Replacement	Unfunded

Year Total:	10,915	9,091	224,237	25,095

	33-34	34-35	35-36	36-37	37-38	38-39	39-40	40-41	41-42	42-43	
Beginning Balance	385,621	295,023	356,203	432,899	513,287	597,521	599,255	669,834	762,261	859,041	
Annual Assessment	58,863	59,452	60,046	60,647	61,253	61,866	62,484	63,109	63,740	64,378	
Interest Earned	11,347	13,700	16,650	19,742	22,982	23,048	25,763	29,318	33,040	22,753	
Expenditures	160,808	11,972				83,180	17,668			354,602	
Fully Funded Reserves	525,039	596,005	684,119	777,672	876,935	896,102	986,355	1,100,755	1,221,954	983,276	
Percent Fully Funded	56%	60%	63%	66%	68%	67%	68%	69%	70%	60%	
Ending Balance	295,023	356,203	432,899	513,287	597,521	599,255	669,834	762,261	859,041	591,570	

Description
Misc. Site Components											
Pedestal Cluster Mailboxes											
Misc. Site Components Total:											
Street/Lot Resurfacing											
Asphalt Mill/Overlay - Amenity Lot						46,778					
Street/Lot Resurfacing Total:						46,778					
Fencing & Gates											
Aluminum Fence - Amenity											
Chain Link Fence VC - Tennis/Basketball Courts											
Wood/Wire Fence - Dog Park						16,298					
Fencing & Gates Total:						16,298					
Site Lighting											
Decorative Light Poles - Amenity											
Misc. Building Components											
Refurbishment Allowance - Restrooms											
Windows/Ext. Door Allowance - Clubhouse											
Misc. Building Components Total:											
Roofing											
Standing Seam Metal Roof - Clubhouse											

Description

33-34	34-35	35-36	36-37	37-38	38-39	39-40	40-41	41-42	42-43

Exterior Painting		
Clubhouse		11,972			15,765	
Exterior Painting Total:		11,972			15,765	
Flooring						
Rubber Flooring - Fitness Room						
Flooring Total:						
Furniture Fixtures & Equipment						
Access Control System - Amenity	11,285					
Camera System Allowance	8,464					
Fitness Equipment Allowance	49,371					
Pool Furniture Allowance (full replacement)	35,265					
Furniture Fixtures & Equipment Total:	104,384					
HVAC						
Heat Pump - Fitness Room 3.5 Ton					10,766	
Heat Pump - Office/Restrooms 3.5 Ton Aaon Unit					17,303	
HVAC Total:					28,069	
Swimming Pool						
Concrete Pavers - Pool Deck
Pool Filtration Refurbishment Allowance						
Pool Lift
Pool Resurfacing/Tile			20,104		
253,093	
Retractable Shade Sails
Shade Structure Frame/Fabric - Pool					57,675	
Swimming Pool Total:			20,104		310,768	
Tennis/Basketball Courts						
Asphalt Resurfacing (color coat)
Basketball Pole/Goal				17,668		
Tennis/Basketball Courts Total:				17,668		

33-34	34-35	35-36	36-37	37-38	38-39	39-40	40-41	41-42	42-43
Description

Play Equipment Allowance	56,424

Playground
Playground Total:	56,424

Concrete Walk/Curb Repair Dumpster Enclosure/Gates

Unfunded Unfunded

Operating Expense
Exhaust Fans	Unfunded

Landscape Replacement Monument Sign Refurbishment

Unfunded Unfunded

Irrigation Repair	Unfunded
Park Benches/Trash Cans	Unfunded

Pool Play Equip. Refurbish Allowance Pool Pumps/Equip. Partial Replacement

Unfunded Unfunded

Pool Furniture Allowance (partial replacement)	Unfunded
Shade Structure Fabric - Pool	Unfunded
Water Coolers	Unfunded

Building Foundation/Frame Concrete Pavers - Roundabout

Unfunded Unfunded

Components Not Included
Lightning Protection System	Unfunded

Stormwater Pond Pipe/Structures Stormwater System Evaluation

Unfunded Unfunded

Stormwater Pond Dredging	Unfunded
Tennis/Basketball Court Replacement	Unfunded

Year Total:	160,808	11,972	83,180	17,668	354,602

	43-44	44-45	45-46	46-47	47-48	48-49	49-50	50-51	51-52	52-53	
Beginning Balance	591,570	474,220	543,872	634,609	706,287	804,906	317,890	402,388	469,394	561,395	
Annual Assessment	65,021	65,672	66,328	66,992	67,661	68,338	69,021	69,712	70,409	71,113	
Interest Earned	18,239	20,918	24,408	27,165	30,958	12,227	15,476	18,054	21,592	25,300	
Expenditures	200,611	16,937		22,479		567,581		20,759			
Fully Funded Reserves	898,620	1,004,203	1,134,220	1,248,841	1,394,177	960,710	1,103,199	1,233,001	1,392,774	1,562,221	
Percent Fully Funded	53%	54%	56%	57%	58%	33%	36%	38%	40%	42%	
Ending Balance	474,220	543,872	634,609	706,287	804,906	317,890	402,388	469,394	561,395	657,808	

Description
Misc. Site Components											
Pedestal Cluster Mailboxes						221,200					
Misc. Site Components Total:						221,200					
Street/Lot Resurfacing											
Asphalt Mill/Overlay - Amenity Lot											
Street/Lot Resurfacing Total:											
Fencing & Gates											
Aluminum Fence - Amenity	35,601										
Chain Link Fence VC - Tennis/Basketball Courts	29,290										
Wood/Wire Fence - Dog Park											
Fencing & Gates Total:	64,891										
Site Lighting											
Decorative Light Poles - Amenity											
Misc. Building Components											
Refurbishment Allowance - Restrooms	90,352										
Windows/Ext. Door Allowance - Clubhouse											
Misc. Building Components Total:	90,352										
Roofing											
Standing Seam Metal Roof - Clubhouse											

Description

43-44	44-45	45-46	46-47	47-48	48-49	49-50	50-51	51-52	52-53

Exterior Painting		
Clubhouse					20,759	
Exterior Painting Total:					20,759	
Flooring						
Rubber Flooring - Fitness Room		16,937				
Flooring Total:		16,937				
Furniture Fixtures & Equipment						
Access Control System - Amenity				18,906		
Camera System Allowance				14,179		
Fitness Equipment Allowance				82,714		
Pool Furniture Allowance (full replacement)				59,081		
Furniture Fixtures & Equipment Total:				174,880		
HVAC						
Heat Pump - Fitness Room 3.5 Ton
Heat Pump - Office/Restrooms 3.5 Ton Aaon Unit						
HVAC Total:						
Swimming Pool						
Concrete Pavers - Pool Deck
Pool Filtration Refurbishment Allowance				
76,971		
Pool Lift
Pool Resurfacing/Tile						
Retractable Shade Sails
Shade Structure Frame/Fabric - Pool	
31,837					
Swimming Pool Total:	31,837			76,971		
Tennis/Basketball Courts						
Asphalt Resurfacing (color coat)
Basketball Pole/Goal	
13,531		22,479			
Tennis/Basketball Courts Total:	13,531		22,479			

Description	43-44	44-45	45-46	46-47	47-48	48-49	49-50	50-51	51-52	52-53	
Playground											
Play Equipment Allowance						94,530					
Playground Total:						94,530					
Operating Expense											
Concrete Walk/Curb Repair
Dumpster Enclosure/Gates	Unfunded
Unfunded										
Exhaust Fans
Irrigation Repair	Unfunded
Unfunded										
Landscape Replacement
Monument Sign Refurbishment	Unfunded
Unfunded										
Park Benches/Trash Cans
Pool Furniture Allowance (partial replacement)	Unfunded
Unfunded										
Pool Play Equip. Refurbish Allowance
Pool Pumps/Equip. Partial Replacement	Unfunded
Unfunded										
Shade Structure Fabric - Pool Water Coolers
Components Not Included	Unfunded Unfunded										
Building Foundation/Frame Concrete Pavers - Roundabout Lightning Protection System Stormwater Pond Dredging Stormwater Pond Pipe/Structures
Stormwater System Evaluation	Unfunded Unfunded Unfunded Unfunded Unfunded
Unfunded										
Tennis/Basketball Court Replacement	Unfunded										
Year Total:	200,611	16,937		22,479		567,581		20,759			

Description	Expenditures	
No Replacement in 23-24		
No Replacement in 24-25		
Replacement Year 25-26		
Tennis/Basketball Courts		
Asphalt Resurfacing (color coat)	10,915	
Total for 2025 - 2026	
$10,915	
Replacement Year 26-27		
Exterior Painting		
Clubhouse	9,091	
Total for 2026 - 2027	
$9,091	
No Replacement in 27-28		
No Replacement in 28-29		
No Replacement in 29-30		
Replacement Year 30-31		
HVAC		
Heat Pump - Fitness Room 3.5 Ton	7,125	
Heat Pump - Office/Restrooms 3.5 Ton Aaon Unit	11,451	
Swimming Pool		
Pool Resurfacing/Tile	167,493	
Retractable Shade Sails	38,168	
Total for 2030 - 2031	$224,237	
No Replacement in 31-32		
Replacement Year 32-33		
Flooring		
Rubber Flooring - Fitness Room	11,208	
Tennis/Basketball Courts			
Asphalt Resurfacing (color coat)	13,887
Total for 2032 - 2033	$25,095

Description	Expenditures	
Replacement Year 33-34		
Furniture Fixtures & Equipment		
Access Control System - Amenity	11,285	
Camera System Allowance	8,464	
Fitness Equipment Allowance	49,371	
Pool Furniture Allowance (full replacement)	35,265	
Playground		
Play Equipment Allowance	56,424	
Total for 2033 - 2034	$160,808	
Replacement Year 34-35		
Exterior Painting		
Clubhouse	11,972	
Total for 2034 - 2035	
$11,972	
No Replacement in 35-36		
No Replacement in 36-37		
No Replacement in 37-38		
Replacement Year 38-39		
Street/Lot Resurfacing		
Asphalt Mill/Overlay - Amenity Lot	46,778	
Fencing & Gates			
Wood/Wire Fence - Dog Park	16,298	
Swimming Pool		
Pool Lift	20,104	
Total for 2038 - 2039	$83,180	
Replacement Year 39-40		
Tennis/Basketball Courts		
Asphalt Resurfacing (color coat)	17,668	
Total for 2039 - 2040	$17,668	
No Replacement in 40-41		

Description	Expenditures

No Replacement in 41-42

Replacement Year 42-43 Exterior Painting
Clubhouse	15,765
HVAC
Heat Pump - Fitness Room 3.5 Ton	10,766
Heat Pump - Office/Restrooms 3.5 Ton Aaon Unit	17,303
Swimming Pool
Pool Resurfacing/Tile	253,093	
Retractable Shade Sails	57,675	
Total for 2042 - 2043	$354,602	
Replacement Year 43-44		
Fencing & Gates
Aluminum Fence - Amenity	
35,601	
Chain Link Fence VC - Tennis/Basketball Courts	29,290	
Misc. Building Components
Refurbishment Allowance - Restrooms	90,352
Swimming Pool
Shade Structure Frame/Fabric - Pool	31,837	
Tennis/Basketball Courts
Basketball Pole/Goal	
13,531	
Total for 2043 - 2044	$200,611	
Replacement Year 44-45		
Flooring
Rubber Flooring - Fitness Room	
16,937	
Total for 2044 - 2045	
$16,937	
No Replacement in 45-46		
Replacement Year 46-47		
Tennis/Basketball Courts
Asphalt Resurfacing (color coat)	
22,479	
Total for 2046 - 2047	
$22,479	

Description	Expenditures	
No Replacement in 47-48		
Replacement Year 48-49		
Misc. Site Components
Pedestal Cluster Mailboxes	
221,200	
Furniture Fixtures & Equipment
Access Control System - Amenity	
18,906	
Camera System Allowance	14,179	
Fitness Equipment Allowance	82,714	
Pool Furniture Allowance (full replacement)	59,081	
Swimming Pool
Pool Filtration Refurbishment Allowance	76,971
Playground
Play Equipment Allowance	94,530	
Total for 2048 - 2049	$567,581	
No Replacement in 49-50		
Replacement Year 50-51		
Exterior Painting
Clubhouse	
20,759	
Total for 2050 - 2051	
$20,759	
No Replacement in 51-52		
No Replacement in 52-53		

Description		
Misc. Site Components
Pedestal Cluster Mailboxes	
2019	
48-49	
30	
0	
25	
36 Each	
2,600.00	
 93,600	
Misc. Site Components - Total								$93,600	
Street/Lot Resurfacing
Asphalt Mill/Overlay - Amenity Lot	
2019	
38-39	
20	
0	
15	
1,662 Square Yards	
16.80	
 27,922	
Street/Lot Resurfacing - Total								$27,922	
Fencing & Gates
Aluminum Fence - Amenity	
2019	
43-44	
25	
0	
20	
426 Linear Feet	
42.00	
17,892	
Chain Link Fence VC - Tennis/Basketball C..	2019	43-44	25	0	20	460 Linear Feet	32.00	14,720	
Wood/Wire Fence - Dog Park	2019	38-39	20	0	15	304 Linear Feet	32.00	  9,728	
Fencing & Gates - Total								$42,340	
Site Lighting
Decorative Light Poles - Amenity	
2019	
53-54	
35	
0	
30	
14 Each	
2,800.00	
 39,200	
Site Lighting - Total								$39,200	
Misc. Building Components
Refurbishment Allowance - Restrooms	
2019	
43-44	
25	
0	
20	
528 Lump Sum	
86.00	
45,408	
Windows/Ext. Door Allowance - Clubhouse	2019	58-59	40	0	35	1 Lump Sum	48,000.00	 48,000	
Misc. Building Components - Total								$93,408	
Roofing
Standing Seam Metal Roof - Clubhouse	
2019	
53-54	
35	
0	
30	
6,200 Square Feet	
12.80	
 79,360	
Roofing - Total								$79,360	
Exterior Painting
Clubhouse	
2019	
26-27	
8	
0	
3	
1 Lump Sum	
8,200.00	
 8,200	
Exterior Painting - Total								$8,200	
Flooring
Rubber Flooring - Fitness Room	
2019	
32-33	
12	
2	
9	
1,028 Square Feet	
8.00	
 8,224	
Flooring - Total								$8,224	
Furniture Fixtures & Equipment
Access Control System - Amenity	
2019	
33-34	
15	
0	
10	
1 Lump Sum	
8,000.00	
8,000	
Camera System Allowance	2019	33-34	15	0	10	1 Lump Sum	6,000.00	6,000	
Fitness Equipment Allowance	2019	33-34	15	0	10	1 Lump Sum	35,000.00	35,000	
Pool Furniture Allowance (full replacement)	2019	33-34	15	0	10	1 Lump Sum	25,000.00	 25,000	
Furniture Fixtures & Equipment - Total								$74,000	

Description
HVAC
Heat Pump - Fitness Room 3.5 Ton	2019	30-31	12	0	7	1 Each	5,600.00	5,600	
Heat Pump - Office/Restrooms 3.5 Ton Aao.. 2019	30-31	12	0	7	1 Each	9,000.00	  9,000	
HVAC - Total							$14,600	
Swimming Pool
Concrete Pavers - Pool Deck	
2019	
53-54	
35	
0	
30	
9,338 Square Feet	
8.40	
78,439	
Pool Filtration Refurbishment Allowance	2019	48-49	30	0	25	3,257 Surface Feet	10.00	32,570	
Pool Lift	2019	38-39	20	0	15	1 Each	12,000.00	12,000	
Pool Resurfacing/Tile	2019	30-31	12	0	7	4,114 Square Feet	32.00	131,648	
Retractable Shade Sails	2019	30-31	12	0	7	5 Each	6,000.00	30,000	
Shade Structure Frame/Fabric - Pool	2019	43-44	25	0	20	2 Each	8,000.00	  16,000	
Swimming Pool - Total								$300,657	
Tennis/Basketball Courts
Asphalt Resurfacing (color coat)	
2019	
25-26	
7	
0	
2	
1,213 Square Yards	
8.40	
10,189	
Basketball Pole/Goal	2019	43-44	25	0	20	1 Lump Sum	6,800.00	  6,800	
Tennis/Basketball Courts - Total								$16,989	
Playground
Play Equipment Allowance	
2019	
33-34	
15	
0	
10	
1 Lump Sum	
40,000.00	
 40,000	
Playground - Total								$40,000	
Operating Expense
Concrete Walk/Curb Repair	Unfunded
Dumpster Enclosure/Gates	Unfunded
Exhaust Fans	Unfunded
Irrigation Repair	Unfunded
Landscape Replacement	Unfunded
Monument Sign Refurbishment	Unfunded
Park Benches/Trash Cans	Unfunded Pool Furniture Allowance (partial replaceme.. Unfunded Pool Play Equip. Refurbish Allowance	Unfunded Pool Pumps/Equip. Partial Replacement	Unfunded Shade Structure Fabric - Pool	Unfunded
Water Coolers	Unfunded
Operating Expense - Total

Components Not Included
Building Foundation/Frame	Unfunded
Concrete Pavers - Roundabout	Unfunded
Lightning Protection System	Unfunded
Stormwater Pond Dredging	Unfunded
Stormwater Pond Pipe/Structures	Unfunded
Stormwater System Evaluation	Unfunded

Description
Components Not Included continued...
Tennis/Basketball Court Replacement	Unfunded
Components Not Included - Total

Total Asset Summary	$838,500

Misc. Site Components
1003	Pedestal Cluster Mailboxes	48-49	5-6	

Street/Lot Resurfacing	
1005	Asphalt Mill/Overlay - Amenity Lot	38-39	5-7	

Fencing & Gates	
1019	Aluminum Fence - Amenity	43-44	5-8	
1022	Chain Link Fence VC - Tennis/Basketball Courts	43-44	5-8	
1031	Wood/Wire Fence - Dog Park	38-39	5-9	

Site Lighting	
1002	Decorative Light Poles - Amenity	53-54	5-10	

Misc. Building Components	
1013	Refurbishment Allowance - Restrooms	43-44	5-11	
1007	Windows/Ext. Door Allowance - Clubhouse	58-59	5-11	
Roofing				
1004	Standing Seam Metal Roof - Clubhouse	53-54	5-12	

Exterior Painting	
1006	Clubhouse	26-27	5-13	

Flooring
1009	

Rubber Flooring - Fitness Room	

32-33	

5-14	

Furniture Fixtures & Equipment	
1032	Access Control System - Amenity	33-34	5-15	
1018	Camera System Allowance	33-34	5-15	
1008	Fitness Equipment Allowance	33-34	5-15	
1015	Pool Furniture Allowance (full replacement)	33-34	5-16	
HVAC				
1011	Heat Pump - Fitness Room 3.5 Ton	30-31	5-17	
1012	Heat Pump - Office/Restrooms 3.5 Ton Aaon Unit	30-31	5-17	

Swimming Pool	
1014	Concrete Pavers - Pool Deck	53-54	5-18	

Swimming Pool Continued...
1030	Pool Filtration Refurbishment Allowance	48-49	5-18	
1028	Pool Lift	38-39	5-19	
1001	Pool Resurfacing/Tile	30-31	5-19	
1027	Retractable Shade Sails	30-31	5-20	
1025	Shade Structure Frame/Fabric - Pool	43-44	5-20	

Tennis/Basketball Courts	
1023	Asphalt Resurfacing (color coat)	25-26	5-21	
1038	Basketball Pole/Goal	43-44	5-21	

Playground	
1020	Play Equipment Allowance	33-34	5-22	

Operating Expense	
1037	Concrete Walk/Curb Repair	23-24	5-23	
1033	Dumpster Enclosure/Gates	23-24	5-23	
1058	Exhaust Fans	23-24	5-24	
1054	Irrigation Repair	23-24	5-24	
1053	Landscape Replacement	23-24	5-24	
1034	Monument Sign Refurbishment	23-24	5-24	
1021	Park Benches/Trash Cans	23-24	5-25	
1016	Pool Furniture Allowance (partial replacement)	23-24	5-25	
1017	Pool Play Equip. Refurbish Allowance	23-24	5-26	
1029	Pool Pumps/Equip. Partial Replacement	23-24	5-26	
1026	Shade Structure Fabric - Pool	23-24	5-27	
1010	Water Coolers	23-24	5-27	

Components Not Included	
1057	Building Foundation/Frame	23-24	5-29	
1039	Concrete Pavers - Roundabout	23-24	5-29	
1059	Lightning Protection System	23-24	5-29	
1051	Stormwater Pond Dredging	23-24	5-29	
1052	Stormwater Pond Pipe/Structures	23-24	5-30	
1050	Stormwater System Evaluation	23-24	5-30	
1024	Tennis/Basketball Court Replacement	23-24	5-30	

Total Funded Assets	
26	
Total Unfunded Assets	19	
Total Assets	45	

Pedestal Cluster Mailboxes - 2048

36 Each

@ $2,600.00

Asset ID	1003
Category Misc. Site Components

Asset Actual Cost	$93,600.00
Percent Replacement		100% Future Cost	$221,199.73

Placed in Service	August 2019	
Useful Life	30	
Replacement Year	48-49	
Remaining Life	25	

Asphalt Mill/Overlay - Amenity Lot - 2038

Asset ID	1005
Category Street/Lot Resurfacing Placed in Service	August 2019
Useful Life	20
Replacement Year	38-39
Remaining Life	15

1,662 Square Yards		@ $16.80 Asset Actual Cost	$27,921.60 Percent Replacement			100%
Future Cost	$46,778.42

Aluminum Fence - Amenity - 2043

426 Linear Feet

@ $42.00

Asset ID	1019
Category	Fencing & Gates
Placed in Service	August 2019
Useful Life	25
Replacement Year	43-44
Remaining Life	20

Asset Actual Cost	$17,892.00
Percent Replacement	100%
Future Cost	$35,601.30

Chain Link Fence VC - Tennis/Basketball Courts - 2043

	460 Linear Feet	@ $32.00	
Asset ID	1022	Asset Actual Cost	$14,720.00	
		Percent Replacement	100%	
Category	Fencing & Gates	Future Cost	$29,289.69	
Placed in Service	August 2019			
Useful Life	25			
Replacement Year	43-44			
Remaining Life	20			

Wood/Wire Fence - Dog Park - 2038

		304 Linear Feet	@ $32.00	
Asset ID	1031	Asset Actual Cost	$9,728.00	
		Percent Replacement	100%	
Category	Fencing & Gates	Future Cost	$16,297.79	
Placed in Service	August 2019			
Useful Life	20			
Replacement Year	38-39			
Remaining Life	15			

Asset ID	1002	Asset Actual Cost	$39,200.00	
		Percent Replacement	100%	
Category	Site Lighting	Future Cost	$110,026.31	
Placed in Service	August 2019			
Useful Life	35			
Replacement Year	53-54			
Remaining Life	30			

Decorative Light Poles - Amenity - 2053

14 Each

@ $2,800.00

Refurbishment Allowance - Restrooms - 2043

	528 Lump Sum	@ $86.00	
Asset ID	1013	Asset Actual Cost	$45,408.00	
	Percent Replacement	100%	
CategMorisyc. Building Components	Future Cost	$90,352.33	
Placed in Service	August 2019		
Useful Life	25		
Replacement Year	43-44		
Remaining Life	20		

Windows/Ext. Door Allowance - Clubhouse - 2058

	1 Lump Sum	@ $48,000.00	
Asset ID	1007	Asset Actual Cost	$48,000.00	
		Percent Replacement	100%	
CategMorisyc. Building	Components	Future Cost	$160,012.34	
Placed in Service	August 2019			
Useful Life	40			
Replacement Year	58-59			
Remaining Life	35			

Standing Seam Metal Roof - Clubhouse - 2053

	6,200 Square Feet	@ $12.80	
Asset ID	1004	Asset Actual Cost	$79,360.00	
		Percent Replacement	100%	
Category	Roofing	Future Cost	$222,747.15	
Placed in Service	August 2019			
Useful Life	35			
Replacement Year	53-54			
Remaining Life	30			

Clubhouse - 2026		1 Lump Sum	@ $8,200.00	
Asset ID	1006	Asset Actual Cost	$8,200.00	
		Percent Replacement	100%	
Category	Exterior Painting	Future Cost	$9,091.49	
Placed in Service	August 2019			
Useful Life	8			
Replacement Year	26-27			
Remaining Life	3			

Rubber Flooring - Fitness Room - 2032

		1,028 Square Feet	@ $8.00	
Asset ID	1009	Asset Actual Cost	$8,224.00	
		Percent Replacement	100%	
Category	Flooring	Future Cost	$11,208.47	
Placed in Service	August 2019			
Useful Life	12			
Adjustment	2			
Replacement Year	32-33			
Remaining Life	9			

Access Control System - Amenity - 2033

Asset ID	
1032	1 Lump Sum
Asset Actual Cost	@ $8,000.00
$8,000.00	
		Percent Replacement	100%	
CFautrengioturyre Fixtures &	Equipment	Future Cost	$11,284.79	
Placed in Service	August 2019	
Useful Life	15	
Replacement Year	33-34	
Remaining Life	10	

Camera System Allowance - 2033

1 Lump Sum

@ $6,000.00

Asset ID	1018
CFautrengioturyre Fixtures & Equipment

Asset Actual Cost	$6,000.00
Percent Replacement	100%
Future Cost	$8,463.59

Placed in Service	August 2019	
Useful Life	15	
Replacement Year	33-34	
Remaining Life	10	

Fitness Equipment Allowance - 2033

Asset ID	
1008	1 Lump Sum
Asset Actual Cost	@ $35,000.00
$35,000.00	
		Percent Replacement	100%	
CFautrengioturyre Fixtures &	Equipment	Future Cost	$49,370.96	
Placed in Service	August 2019	
Useful Life	15	
Replacement Year	33-34	
Remaining Life	10	

Fitness Equipment Allowance continued...

Pool Furniture Allowance (full replacement) - 2033

Asset ID	
1015	1 Lump Sum
Asset Actual Cost	@ $25,000.00
$25,000.00	
		Percent Replacement	100%	
CFautrengioturyre Fixtures &	Equipment	Future Cost	$35,264.97	
Placed in Service	August 2019	
Useful Life	15	
Replacement Year	33-34	
Remaining Life	10	

Heat Pump - Fitness Room 3.5 Ton - 2030

	1 Each	@ $5,600.00	
Asset ID	1011	Asset Actual Cost	$5,600.00	
		Percent Replacement	100%	
Category	HVAC	Future Cost	$7,124.76	
Placed in Service	August 2019			
Useful Life	12			
Replacement Year	30-31			
Remaining Life	7			

Heat Pump - Office/Restrooms 3.5 Ton Aaon Unit - 2030

	1 Each	@ $9,000.00	
Asset ID	1012	Asset Actual Cost	$9,000.00	
		Percent Replacement	100%	
Category	HVAC	Future Cost	$11,450.51	
Placed in Service	August 2019			
Useful Life	12			
Replacement Year	30-31			
Remaining Life	7			

Concrete Pavers - Pool Deck - 2053

		9,338 Square Feet	@ $8.40	
Asset ID	1014	Asset Actual Cost	$78,439.20	
		Percent Replacement	100%	
Category	Swimming Pool	Future Cost	$220,162.65	
Placed in Service	August 2019			
Useful Life	35			
Replacement Year	53-54			
Remaining Life	30			

Pool Filtration Refurbishment Allowance - 2048

	3,257 Surface Feet	@ $10.00	
Asset ID	1030	Asset Actual Cost	$32,570.00	
	Percent Replacement	100%	
Category	Swimming Pool	Future Cost	$76,970.89	
Placed in Service	August 2019		
Useful Life	30		
Replacement Year	48-49		
Remaining Life	25		

Pool Lift - 2038		1 Each	@ $12,000.00	
Asset ID	1028	Asset Actual Cost	$12,000.00	
		Percent Replacement	100%	
Category	Swimming Pool	Future Cost	$20,104.19	
Placed in Service	August 2019			
Useful Life	20			
Replacement Year	38-39			
Remaining Life	15			

Pool Resurfacing/Tile - 2030

4,114 Square Feet

@ $32.00

Asset ID	1001
Category	Swimming Pool
Placed in Service	August 2019
Useful Life	12
Replacement Year	30-31
Remaining Life	7

Asset Actual Cost	$131,648.00
Percent Replacement		100% Future Cost	$167,493.02

Retractable Shade Sails - 2030

5 Each

@ $6,000.00

Asset ID	1027
Category	Swimming Pool
Placed in Service	August 2019
Useful Life	12
Replacement Year	30-31
Remaining Life	7

Asset Actual Cost	$30,000.00
Percent Replacement	100%
Future Cost	$38,168.38

Shade Structure Frame/Fabric - Pool - 2043

		2 Each	@ $8,000.00	
Asset ID	1025	Asset Actual Cost	$16,000.00	
		Percent Replacement	100%	
Category	Swimming Pool	Future Cost	$31,836.62	
Placed in Service	August 2019			
Useful Life	25			
Replacement Year	43-44			
Remaining Life	20			

Asphalt Resurfacing (color coat) - 2025

Asset ID	1023	1,213 Square Yards Asset Actual Cost	@ $8.40
$10,189.20	
	Percent Replacement	100%	
CategorTyennis/Basketball Courts	Future Cost	$10,914.93	
Placed in Service	August 2019	
Useful Life	7	
Replacement Year	25-26	
Remaining Life	2	

Basketball Pole/Goal - 2043

1 Lump Sum

@ $6,800.00

Asset ID	1038
CategorTyennis/Basketball Courts

Asset Actual Cost	$6,800.00
Percent Replacement	100%
Future Cost	$13,530.56

Placed in Service	August 2019	
Useful Life	25	
Replacement Year	43-44	
Remaining Life	20	

Play Equipment Allowance - 2033

1 Lump Sum	@ $40,000.00

Asset ID	1020
Category	Playground
Placed in Service	August 2019
Useful Life	15
Replacement Year	33-34
Remaining Life	10

Asset Actual Cost	$40,000.00
Percent Replacement	100%
Future Cost	$56,423.95

 

Concrete Walk/Curb Repair

Asset ID	1037
Category	Operating Expense Placed in Service		October 2019

No Useful Life

Asset Actual Cost
Percent Replacement	100% Future Cost

Dumpster Enclosure/Gates

Asset ID	1033
Category	Operating Expense Placed in Service		October 2019
No Useful Life

Asset Actual Cost
Percent Replacement	100% Future Cost

Exhaust Fans

Asset ID	1058
Category	Operating Expense Placed in Service		October 2019
No Useful Life

Asset Actual Cost
Percent Replacement	100% Future Cost

Irrigation Repair

Asset ID	1054
Category	Operating Expense Placed in Service		August 2019
No Useful Life

Asset Actual Cost
Percent Replacement	100% Future Cost

Landscape Replacement

Asset ID	1053
Category	Operating Expense Placed in Service		August 2019
No Useful Life

Asset Actual Cost
Percent Replacement	100% Future Cost

Monument Sign Refurbishment

Asset ID	1034
Category	Operating Expense Placed in Service		August 2019
No Useful Life

Asset Actual Cost
Percent Replacement	100% Future Cost

Monument Sign Refurbishment continued...

Park Benches/Trash Cans

Asset ID	1021
Category	Operating Expense Placed in Service		August 2019

No Useful Life

Asset Actual Cost
Percent Replacement	100% Future Cost

Pool Furniture Allowance (partial replacement)

Asset ID	1016

Asset Actual Cost
Percent Replacement	100%

Pool Furniture Allowance (partial replacement) continued...

Pool Play Equip. Refurbish Allowance

Asset ID	1017
Category	Operating Expense Placed in Service		August 2019

No Useful Life

Asset Actual Cost
Percent Replacement	100% Future Cost

Pool Pumps/Equip. Partial Replacement

Asset ID	1029

Asset Actual Cost
Percent Replacement	100%

Pool Pumps/Equip. Partial Replacement continued...

Shade Structure Fabric - Pool

Asset ID	1026
Category	Operating Expense Placed in Service		August 2019

No Useful Life

Asset Actual Cost
Percent Replacement	100% Future Cost

Water Coolers

Asset ID	1010

Asset Actual Cost
Percent Replacement	100%

Water Coolers continued...

Building Foundation/Frame

Asset ID	1057
CategoCryomponents Not Included Placed in Service	August 2019
No Useful Life

Asset Actual Cost
Percent Replacement	100% Future Cost

Concrete Pavers - Roundabout

Asset ID	1039
CategoCryomponents Not Included Placed in Service	August 2019
No Useful Life

Asset Actual Cost
Percent Replacement	100% Future Cost

Lightning Protection System

Asset ID	1059
CategoCryomponents Not Included Placed in Service	August 2019
No Useful Life

Asset Actual Cost
Percent Replacement	100% Future Cost

Stormwater Pond Dredging

Asset ID	1051
CategoCryomponents Not Included Placed in Service	August 2019
No Useful Life

Asset Actual Cost
Percent Replacement	100% Future Cost

Stormwater Pond Pipe/Structures

Asset ID	1052
CategoCryomponents Not Included Placed in Service	August 2019
No Useful Life

Asset Actual Cost
Percent Replacement	100% Future Cost

Lan

Stormwater System Evaluation

Asset ID	1050
CategoCryomponents Not Included Placed in Service	August 2019
No Useful Life

Asset Actual Cost
Percent Replacement	100% Future Cost

Tennis/Basketball Court Replacement

Asset ID	1024
CategoCryomponents Not Included Placed in Service	August 2019
No Useful Life

Asset Actual Cost
Percent Replacement	100% Future Cost

Report Navigation
Executive Summary provides information about projected year end reserve balance, current annual contribution, interest, and inflation rates:
Level of Service is the type of reserve study
Funding Method is either Component Funding or Pooled Cash
Component Funding Contribution is a year one only amount
Current Funding Plan currently used by the Association
Recommended Funding Plan maintains adequate funding
Funding Model Projections include both your current plan and our recommended plan. The information included in each column is described below:
Year begins with your study year generally for a 30-year term
Current cost is the current replacement of all components
Annual contribution is the amount placed in reserves each year
Annual interest earned on your funds
Annual expenditures are the projected component replacement cost by year
Projected ending balance is the year end reserve fund balance
Fully funded reserves are the fully funded balance for that year. Fully Funded formula is Fully Funded Balance= Component cost x Age/Useful Life
Percent Funded is a measure of fund strength
Current Funding Projection is your current funding plan and how it performs
Recommended Funding Model Projection is the plan we recommend
Cash Flow is a 30-year statement that provides both income and expense information to quickly find when expenditures occur and the resulting financial status of your reserves
Annual Expenditure Detail provides a year to year list of your projected expenditures This is a good section to review each year when preparing your budgets
Condition Assessment (if included) is a brief description of major component condition
Component Inventory contains a list of your components, remaining useful life and quantities we determined from our site visit and other means of measurement
Component Detail Index allows quick access to the detail we have included for each component separated into categories
Component Detail provides a listing of each component, quantities or allowances and photographs of major ones
Methodology - Terms of Service – Company Profile are our Disclosure sections with information about our assumptions, methods of work and our credentials

METHODOLOGY
Reserve Analysis is a process that identifies capital expenses the District can expect and creates a plan to fund them. This is accomplished by a site visit to visually evaluate components to measure quantities and determine their remaining life. Component Selection Process is based on the Community Associations Institute (CAI) standards for reserve studies and selection of components.
Component must be a commonly owned, have a limited and predictable life, replacement cost must be above a minimum threshold cost. Useful life and replacement cost are obtained from site inspection by experienced inspectors and our database of information, historical information, local Vendors and comparison of similar component cost found at other properties.
The funding plan we develop includes; adequate cash balances, even contributions so all owners pay their fair share over time and moderate contributions with acceptable increases. Percent Funded is defined by industry standards as 70-100% strong, 30-70% fair or adequate and below 30% weak or inadequate. Baseline Funding maintains funds above zero resulting is a high risk of special assessments or deferred maintenance and should be avoided. Threshold Funding maintains reserves above a “Threshold” level providing adequate funding with moderate risk; using this method requires regular analysis updates.
CREDENTIALS
Community Advisors, LLC provides capital reserve planning, property inspection, and construction oversight for a broad base of clients including High-rise Condominiums, Homeowner Associations, Churches, Private Schools, Time Shares, Active Adult, Municipal Utility Plants, Marinas, Historic Buildings & Museums and commercial investment properties.
Personal Service attention to detail, quick response and valued client relationships.
Range of Experience includes a broad selection of building types, ages and uses from protected historic structures to new communities ready for developer turnover. As commercial general contractors we have experience building many of the types of structure we now provide reserve analysis for, so we understand potential problem areas. As commercial inspectors we have experienced a variety of structural and cosmetic conditions offering solutions for repair. Areas of expertise include MEP systems, energy management, life safety systems, building envelope and roof components, marine structures, street and other site improvements.
Detailed Site Evaluation is Conducted to make sure we know your property and include all your assets in our analysis. With our years of experience with community development and commercial construction projects we understand both horizontal and vertical construction and utilize realistic replacement cost and useful life projections in our analysis.Financial Plan Meets CAI & APRA Standards with information obtained during the site visit we build a custom-made financial plan to ensure adequate funding for future component replacement which equates to maintaining community value.
Reserve Analyst Credentials: Mr. Charles Sheppard is the owner of Community Advisors responsible for field inspection oversight and day to day operations. Mr. Sheppard hold a BS degree from VA Tech and has conducted building evaluations for over 30 years. He is a licensed Florida General Contractor, Home Inspector and earned the professional designations of Certified Construction Inspector (CCI), Professional Reserve Analyst (PRA) and Reserve Specialist (RS).

TERMS OF SERVICE

We have completed an analysis of your capital components that serves as a budgeting tool. This reserve study reflects the information provided by this client and is not for the purposes of performing an audit or estimating construction projects. Our site visit includes visual observation of components that are accessible and safe for our inspectors to evaluate. Roof evaluation is limited to ground observation for sloped roofs and roof top inspection for flat roofs if safe and stable access is available that meets our safety standards.
We are not responsible for any hidden defects or determining the condition of hidden or underground components or systems. Observing environmental conditions, hazardous materials or determine compliance with building codes or other regulations is not included in our scope of work. Our site visit is not a safety inspection and we are not responsible for any hazards that exist. Destructive testing is not conducted. 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.
Projections of component remaining useful life assumes this client will perform necessary preventative maintenance and repair per industry standards. This reserve analysis study and the parameters under which it has been completed are based upon information provided to us in part by the Client and its contractors, assorted vendors, specialist and independent contractors. Reserve fund balances and contribution amounts for use in our analysis is furnished by the client and deemed accurate. Useful life projections are determined by historical records, component condition and our opinion based on evaluating similar components on other projects. These life projections are changed by weather conditions, use, maintenance procedures and other factors out of our control therefore regular updates to this analysis are needed to maintain funding accuracy. Replacement cost is determined by our experience with similar projects, local vendor pricing and client historical records and should not be considered suitable for budgeting repair or replacement projects. Local contractor proposals must be obtained for this work. No liability is assumed as the result of changing market prices or inaccurate estimates or projections of remaining useful life of components.
Component replacement cost and interest rates constantly change. In order to maintain accuracy of your funding plan updates to this analysis should be conducted annually with a site visit every 2-3 years unless conditions warrant annual visits. Community Advisors, LLC shall not be required to participate in any legal action taken by or against our clients for any reason and shall also not be required to give testimony in depositions or in court. In all cases the liability of Community Advisors, LLC and its Principals, Employees, contractors and Vendors shall be limited to the consulting fee agreed upon for the production of this report. Client financial information is considered confidential and is not disclosed to third parties without your approval. We do use your name for our list of valued clients and when submitting proposals for new projects that request references or recent projects.
That request may include size of property, number of units or major components. We also use photos from time to time of components as an example for educational and marketing efforts. Community Advisors and the analyst who prepared this study do not have any relationship that can be considered a conflict of interest. From time to time our Clients ask that we manage repair or replacement of components due to our experience in construction management. We do so with the understanding that full disclosure for both parties is completed.

DEFINITIONS

Adjustment to Useful Life: Typical useful life projections are used for each component. The adjustment is used to modify that life projection for earlier or later replacement. It only applies to the current replacement cycle.

Cash Flow Method: A method of determining reserve contributions that are “pooled” to fund replacement cost as needed without restricting funds to any one component.

Component Method: A funding method that fully funds each reserve component then sums those for the annual contribution.

Current Funding Plan: The funding plan currently used at the time of this analysis with updated component inventory and financial assumptions. This allows you to see how the current contribution level funds future component replacement.

Effective Age: Difference of useful and remaining useful life.

Fully Funded Balance: Represents the cost of used component life represented by the formula.
FFB = (Current Cost x Effective Age)/ Useful Life

Interest Contribution: The interest that should be earned on invested reserves.

Percent Funded: Ratio of reserve balance to fully funded balance.

Remaining Life: Number of years a component is projected to continue to function.

Threshold Funding: This plan maintains fund balance above a predetermined threshold dollar or percent funded amount.
Useful Life: The estimated useful life of an asset based upon industry standards, manufacturer specification, visual inspection, location, usage, association standards and prior history.