What are the minimum standards for a Reserve Study?
The Community Association Institute (click here), publishes the National Reserve Study Standards, which lists the minimum content required in an adequate Reserve Study. This includes: • A physical description of the property, the number of units involved, and the current reserve fund budget. • The projection of the reserve fund starting balance, projected reserve expenses, recommended contributions to the reserve fund, and the projected ending reserve fund balance for a minimum of 20 years. • A component sheet, listing each component individually, the quantity of each component with any necessary descriptions, the useful life, the remaining life, and the current replacement cost of the component. • A description describing the methodology of the various funding options and how each of these funding options is achieved. • What sources are used to estimate the replacement cost of each component. • The fiscal year for which the Reserve Study is prepared. • A description of the level of se
