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An independent reserve study provides a level of clarity and transparency to residents that can't be accomplished through internal operations.
An independent reserve study provides a level of clarity and transparency to residents that can't be accomplished through internal operations.
Exceed Fiduciary Commitment - Boards have the fiduciary responsibility to be fiscally responsible for their neighbor's money. Ensure the money is used with sound judgement, in a prudent manner, and with careful thought.
Avoid Assessments - Special assessments have negative effects on home prices and they are one of the first items real estate agents will look at when discussing a home with a potential buyer.
Maximize Property Values - Maintain a strong financial position and ensure the neighborhood does not accrue deferred maintenance. Doing so keeps your neighborhood a desirable place to live.
Make the Unexpected Expected - Costs overrun and assets fail before the replacement period. Our analysis anticipates these challenges and develops a solution incorporating their effects on the reserve budget.
Game Plan Expenses- A Board can act with confidence that future expenditures are not being sacrificed when current projects are undertaken. Our outline of future projects gives the Board the plan for when, where, and how to spend funds.
Village Reserve reserve studies are comprised of two key parts: the financial model and the capital asset management plan (CAMP).
The CAMP is the backbone of the reserve study which classifies, and organizes neighborhood assets and identifies the corresponding capital projects to be included in the financial model. Each asset's current condition is identified through a site visit and inspection. Replacement costs, services lives, and remaining useful lives are assigned. Village Reserve works collaboratively with Boards and community managers to develop an accurate picture of neighborhood assets. When needed, Village Reserve can reference their extensive database of projects to better determine costs and conditions.
The financial model analyses the health of the reserve account and identifies a funding strategy that better ensures the account can fund all the projects identified in the report. Village Reserve recognizes each Association's financial position is different and therefore works directly with Boards to develop a strategy that is practical, workable, and can generate buy-in from the neighborhood.
Village Reserve recognizes that plans change and unforeseen or unexpected expenses can occur. A "stoplight" approach to the financial results are applied through the use of data statistics. This approach allows the Association to benchmark their progress against established values to better assess the current financial health of their reserve account..
Still have questions? Check out our Frequently Asked Questions page for answers to the most common questions we receive.
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