A reserve study provides a long-range financial plan for the physical assets of the community. There has been some new legislation on this topic recently and many financial institutions look for fully developed and funded reserve plans when evaluating financing requests. SCM can do a reserve plan to assist your association in meeting these new regulations or develop a reserve plan for you if one does not currently exist. Contact SCM for more information on long range financial planning for your association.
Perform a financial analysis on an existing reserve plan. HOA’s should perform this analysis yearly. This study is included at no cost in any accounting package provided by SCM
Develop a completely new physical and financial reserve plan.
- Review of the governing documents to inventory what assets the HOA is responsible for
- Evaluate the current condition of the assets
- Determine the useful life and the remaining useful life of the assets
- Estimate the replacement cost
- Develop a detailed funding plan