interactive reserve analysis
TRANSCRIPT
STUDY LEVEL:
DRAFT ISSUED:
WORKING SESSION:
FINAL REPORT ISSUED:
REVISION/UPDATE ISSUED:
Copyright © 2016 DMA, Inc. PREPARED BY: Roy L. Kalista, RS
dma-va.com
804-644-6404
2025 E. Franklin Street
Suite 218
Richmond, Va. 23223
CREEK'S EDGE AT STONY POINT
September 23, 2016
September 14, 2016
Level II
September 19, 2016
INTERACTIVE RESERVE ANALYSIS
COVER SHEET 1
TABLE OF CONTENTS 2
STANDARDS 3
INTRODUCTION 6
HISTORIC FUNDING ANALYSIS (COMPONENT METHODOLOGY) 7
RESERVE FUNDING NAVIGATOR (CASH FLOW METHODOLOGY) 8
EXPENDITURE SUMMARY 9
ASSESSMENT ALLOCATION 25
SCHEDULE OF COMPONENTS 26
CASH FLOW METHOD 38
APPENDIX:
44
47
51
52
54
55
DMA's Working Session
CREEK'S EDGE AT STONY POINT
On-Going Maintenance Services for DMA Capital Reserve Studies
TABLE OF CONTENTS
How Your Reserve Study Works
An Explanation of the Physical Property Analysis
Historic Funding Analysis
National Standards
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
.
2
STANDARDS
LIMITATIONS AND CONDITIONS
DISCLOSURE AND LEGAL RESTRICTIONS
STUDY STANDARDS
This study was conducted in accordance with the Community Associations Institute National Reserve Study Standards. A summary of the
standards is contained in our information article entitled “National Standards” which is being transmitted as a separate document.
The data and analysis information that forms a part of this report was formatted in Microsoft Excel but contains proprietary programming
and program coding that is not available for distribution to outside parties. Copies of the data and analysis information have been made
available in Adobe's Portable Document Format and included as part of this report. Limited program versions can also be provided, upon
request, in Excel format for easier viewing and navigating through the data.
STUDY LIMITATIONS AND CONDITIONS
1. No destructive testing, lab analysis or other investigative methods were used to determine the condition of the components. Due to
these limitations, as set forth in the reserve study guidelines that we subscribe to, the limited visual observations that were made are not
sufficient to be considered a qualified architectural or engineering assessment of the state or condition of the components.
2. All common areas on the property were observed unless access was limited or not made available to us at the time of the inspection.
The observations and opinions expressed herein with regard to the useful life of the components are based on our general professional
knowledge of construction and our knowledge of the typical replacement experience of many communities and other entities with the same
component types.
3. Our projections of remaining useful life are not architectural or engineering recommendations for executing specific projects. As the end
of the remaining useful life approaches, as set forth in this study, the association should seek professional architectural, engineering,
contractor, service providers or qualified product manufacturer or supplier assistance, as appropriate, and as to the need for and the
scheduling of each specific replacement project. Particularly those of any significant magnitude.
4. An asset can be made up of several components that need to be maintained, repaired and replaced. Other elements of the asset may
be considered permanent with respect to the asset. The schedule of components provided herein, is based upon information received from
the client regarding the common elements and/or assets that the client is responsible for. It is the client's responsibility to verify that the
schedule of components is complete.
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
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5. Financial information including the present fund balance, interest from funds on deposit, and recent capital expenditures, were provided
by the Association and are deemed reliable and complete by Design/Management Associates, Inc.
6. Information provided by the Association about prior reserve replacement projects is considered to be reliable and complete. No
inspection by Design/Management Associates, Inc. should be interpreted as a project audit or quality inspection.
7. Industry Life Expectancy is based on printed product literature, product or material warranties, industry standards literature, and on the
opinions of manufacturers, installers, or maintenance contractors based on their experience with these products and materials.
8. Unit prices are based on published unit price standards such as R. S. Means "Residential Cost Data", Facilities Maintenance and Repair
Cost Data, and "Facilities Construction Cost Data", latest editions, and on pricing obtained from contractors, installers, or manufacturers. All
prices are given in present dollars unless noted otherwise. Prices listed are not guaranteed as exact quotes for work included.
9. This analysis incorporates assumptions about the future rate of inflation, and the future interest income on your account deposits. If
significant changes occur in either of these rates, this calculation should be re-run with current information.
10. The results of this analysis are predicated on your contributing the recommended amount in each previous year and on expenses
occurring generally as predicted. The Reserve Study should be updated at least every 3 to 5 years, which may depend on statutory
requirements, to correct for normal variations. However if significant changes occur in your present funding or in major expenses, in a
shorter period of time, the account should be re-run.
11. DMA’s Capital Replacement Reserve Studies are designed to be used as planning tools. They are a reflection of information provided
by the Association and our analytical inputs, and are assembled for the Association’s use. This reserve study should not be used for the
purpose of performing an audit, quality/forensic analysis, or for background checks of historical records.
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DISCLOSURE
DMA does not have any financial interest in this community, its management company or any vendor mentioned or used in this study
beyond this work.
LEGAL RESTRICTIONS ON USE OF THIS INFORMATION
Ownership of Reports, Electronic Files, Data, Media, Software Programs and Other Related Materials: Reports, electronic files,
data, media, software programs and other related materials are instruments of professional service. Therefore, the aforementioned are
considered the intellectual property of DMA and shall remain the exclusive property of DMA and, where appropriate, shall be protected and
copyrighted under the laws of the United States with all rights reserved. The Client and the Property Manager (Client’s authorized
representative or agent) are the only entities entitled to use these documents and only in connection with this project. Distribution of these
documents and any electronic files, data, media, software programs, written and electronic communications, and other related materials
produced by DMA relative to this project, and in accordance with the provisions of the Agreement, to ANY THIRD PARTIES is strictly
prohibited without the express written consent of DMA.
Use of Electronic Files, Media, Software and Programs: DMA may transmit these documents as electronic files. DMA shall not be
responsible for any viruses that may be transmitted with the electronic files, media, software or programs furnished to the Client. DMA
shall not be responsible for any data erosion, erasure, alteration or failure of electronic files, media, software or programs that may occur at
the time of transmission or over time. DMA makes no warranty as to the compatibility of the electronic files, media, software or programs
with any operating system or programs.
Acceptance and Agreement: By accepting these documents I hereby acknowledge that I have read and understood the Legal
Restrictions On Use of This Information set forth above and that as a duly authorized representative or agent of the Client, represent that
the Client agrees to accept and abide by the same.
5
INTRODUCTION CREEK'S EDGE AT STONY POINT
DESCRIPTION OF THE COMMUNITY
Creek's Edge at Stony Point is a Home Owner's Association located on Creek's Crossing Boulevard and Creek's Summit Circle
in Richmond, Virginia that is currently being developed. Construction of the Community began in 2007 and there are 84
completed units to date. The Association's Common Elements include but are not limited to: Private Roadways & Parking Lots,
Driveways, Concrete Curb & Gutter, Access Bridge, Sidewalks, Lighting, Signage, Retaining Walls, Fences, Storm Water
System, All Roofs, Rain Gutters & Downspouts, Stoops, Balconies, Carwash, Garage, Mail Kiosk, a Clubhouse, Swimming
Pool, and a Retention Pond.
QUALIFYING INFORMATION THAT AFFECTS THE STUDY RESULTS
DMA's cash flow funding model is a 30-year funding plan. Some communities contain components that have a remaining
useful life greater than 30 years. The default method in this model funds long term components beginning when their remaining
useful life is 30 years or less. Upon request, DMA can create a longer funding period for long life components within this model
by establishing a percentage funding goal at the 30 year mark. The model will include funds to meet that percentage goal.
Based on the information gathered during and after the Working Session, and the schedule for replacement of
components, the community would need to increase the contribution to the Replacement Reserve Account by 6.9%
annually throughout the study period to maintain a bank balance above the threshold on the account. This was
increased by .1% from the Working Session due to the higher costs for the interior clubhouse furnishings. As future
homes are built, projects are completed, and actual replacement costs gathered, DMA can be called upon at our
hourly rate to make financial updates to the Study until it is time for another Full Reserve Study Update..
Also to be considered:
a) All general landscaping - Generally landscaping (trees, shrubs, lawns, flowers) and associated maintenance of that
landscaping is included in yearly operating budgets but major projects such as tree removal and replacement can and should
be included in the Reserve Study.
b) Improvements determined to be “permanent” (projected life exceeding 50 years) are not included in the Study. However,
a repair allowance for isolated repairs can be provided for such things as the plumbing risers and runs and electrical wiring.
c) Landscape Irrigation - Irrigation systems generally need continual maintenance. Broken heads and pipes are generally
taken care of within the annual operating and maintenance budget. However, we generally recommend including controllers,
backflow preventors, wells and well equipment in the Reserve Study.
d) Painting and other periodic maintenance tasks can be included in the Reserve Study. If necessary, under certain tax
filings, a separate accounting of the interest earned on funds deposited for painting may need to be provided. If the tax
accountant cannot provide that DMA can.
DMAInteractive Reserve Analysis
Copyright © 2016 DMA, Inc.
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Current Reserve Account:$33,432
1.00%
$138,605 as of May 31, 2016
$13,930
Total balance: $124,675 as of January 1, 2016
Historic Funding Analysis (a.k.a. Component Methodology or Full Funding Method)
$73,111.69
$399,605.63
$124,675.00
31.20%
$30,732.77
The primary "drawbacks" to the Historic Funding analysis are:
The only real benefit to the Historic Funding (a.k.a. Component Method or Full Funding Method) analysis is that
it is easy to understand and compute and is the methodology used in retail software programs.
1. It does not necessarily mean that the Association is not fully funded from this point in time going forward utilizing the
Cash Flow Methodology.
Required Contribution In Study Year:
2. This method does not take into account the rate of inflation.
4. The annual funding levels can go up or down in any successive year.
3. It must be conducted every year.
CURRENT FUNDING SUMMARYCREEK'S EDGE AT STONY POINT
5. It almost always results in an initial higher contribution rate then the "Cash Flow Method".
6. It almost always results in "over funding" in future years.
7. It does not take advantage of the benefit of the "pool" of funds available under the "Cash Flow Method".
Total Annual Component Cost (Fully Funded First Year Contribution):
Expected Reserve Account Balance In Study Year:
Actual Reserve Fund Account Balance:
Adequacy of Reserve Account (% of Full Funding):
Average annual income rate on reserve deposit accounts:
Budgeted contribution for study year:
Balance on account:
Less contributions already made this year:
The historic funding analysis provides a picture of the results of the historic funding contributions made by the
Association over the years since the first component was placed in service. The Analysis shows the adequacy of the
Reserve Account to fully fund the components at this point in time utilizing this methodology. This methodology uses
basic straight line depreciation based on the replacement value of the component divided by the components useful life
and multiplied by the components age in years. The sum of the amounts for each component results in the "Expected
Reserve Account Balance in Study Year".
100%
75%
50%
25%
0%
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
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2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045
years Annual escalation to the contribution per year, if any:
per year
Threshold Balance to be Maintained in Account: Annual Contribution in Year:
A selected minimum balance of: OR Current 2016
Total of the next 30 years of expenditures, times: 50 Adopted 2017
Anticipated annual construction inflation rate:
EXPENDITURE
Inflation rate historical period; select year : 6.9%
$33,432
$35,739
$0
5.0%
RESERVE FUNDING NAVIGATORCASH FLOW METHODOLOGY
$33,432
$35,739
695
2.61%
Current
CREEK'S EDGE AT STONY POINT
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
DOLLARS
YEARS
EXPENDITURES ACCOUNT BALANCE THRESHOLD
ALL EXPENDITURES ARE EXPRESSED AS FUTURE VALUES
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
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2016 2017Sum of 2016 Sum of 2017
LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
24.44 Snow guards All Areas $2,500 9.07 Outdoor island kitchen Pool $2,964
Grand Total $2,500 11.02 Replace skim line tile Pool $4,456
11.04 Resurface pool Pool $6,063
11.08 Pool equipment, chlorination systemPool $2,844
11.14 Pool lights Pool $1,873
13.05 Carpet Clubhouse $312
13.06 Repaint interior walls & ceiling Clubhouse $3,050
14.04 Recessed light fixture Clubhouse $1,175
17.01 TV, flat screen Clubhouse $1,176
17.02 TV., flat wall mount bracket Clubhouse $367
17.03 Sound System receiver Clubhouse $453
17.04 Sound System speakers Clubhouse $499
18.05 Rug Clubhouse $600
18.07 Lamps Clubhouse $761
18.09 Cabinet, to replace green cabinetClubhouse $642
18.14 Fabric chairs Clubhouse $1,000
18.15 Sofa Clubhouse $2,000
18.17 Small round tables Clubhouse $350
18.18 Wing back chairs Clubhouse $1,200
18.19 Wall hangings Clubhouse $863
18.2 Misc. furniture upgrades Clubhouse $2,536
Grand Total $35,183
CREEK'S EDGE AT STONY POINT
EXPENDITURE SUMMARYDMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
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2018 2019Sum of 2018 Sum of 2019
LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
1.31 Asphalt patching allowance All Areas $27,481
1.34 Striping All Areas $1,647
2.03 Remove, re-grade, reset, brick paversPool/Clubhouse/Mail $3,054
8.01 Irrigation controller All Areas $2,506
9.1 Exterior cluster mailbox units Mail Kiosk $1,681
10.01 Dam inspection and engineering Retention Pond $732
Grand Total $37,101
10
2020 2021Sum of 2020 Sum of 2021
LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
11
2022 2023Sum of 2022 Sum of 2023
LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
9.09 Refrigerator, mini Pool $800
11.06 Pool equipment, filter system Pool $3,206
11.07 Pool equipment, sand filter Pool $1,776
11.09 Pump & motor Seating Area $1,909
11.1 Pump & motor Pool Fountain $3,470
11.11 Pump & motor Pool $5,589
13.04 Refinish wood strip flooring Clubhouse $2,907
16.01 Microwave, wall mounted Clubhouse $920
16.02 Cooking range, w/ oven Clubhouse $763
16.03 Refrigerator, side by side Clubhouse $2,639
16.04 Dishwasher Clubhouse $2,276
16.05 Garbage disposal Clubhouse $486
21.04 Water heater Garage $1,164
22.01 HVAC condensing unit Clubhouse $7,424
22.03 Heating unit Garage $1,587
23.01 Exhaust vent Garage & Clubhouse $530
23.02 Exhaust vent Chemical Room $1,505
Grand Total $38,952
12
2024 2025Sum of 2024 Sum of 2025
LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
1.31 Asphalt patching allowance All Areas $27,481 2.01 Concrete walkway, broom finish All Areas $492
1.34 Striping All Areas $1,647 2.02 Concrete sidewalk, exposed aggregateAll Areas $20,328
2.03 Remove, re-grade, reset, brick paversPool/Clubhouse/Mail $3,054 Grand Total $20,820
4.02 Road/parking lot fixture, lantern All Areas $32,197
4.03 Gas lantern Bridge $4,000
4.04 Exterior recessed lighting Clubhouse $804
4.05 Exterior recessed lighting Mail Kiosk $690
8.01 Irrigation controller All Areas $2,506
9.1 Exterior cluster mailbox units Mail Kiosk $1,681
10.01 Dam inspection and engineering Retention Pond $732
Grand Total $74,793
13
2026 2027Sum of 2026 Sum of 2027
LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
24.44 Snow guards All Areas $2,500 9.07 Outdoor island kitchen Pool $2,964
Grand Total $2,500 9.08 Gas Grills, stainless Pool $300
11.02 Replace skim line tile Pool $4,456
11.03 Replace coping Pool $9,794
11.04 Resurface pool Pool $6,063
11.08 Pool equipment, chlorination systemPool $2,844
13.05 Carpet Clubhouse $312
13.06 Repaint interior walls & ceiling Clubhouse $3,050
17.01 TV, flat screen Clubhouse $1,176
17.02 TV., flat wall mount bracket Clubhouse $367
17.03 Sound System receiver Clubhouse $453
17.04 Sound System speakers Clubhouse $499
18.01 Blinds, horizontal Clubhouse $1,112
18.02 Window treatment, large Clubhouse $353
18.03 Window treatment, small Clubhouse $84
18.04 Side table Clubhouse $300
18.05 Rug Clubhouse $600
18.06 Lamps Clubhouse $135
18.08 Desk Clubhouse $250
18.1 Coffee table Clubhouse $150
18.11 End tables Clubhouse $150
18.12 Dining tables Clubhouse $400
18.13 Dining chairs Clubhouse $1,200
18.14 Fabric chairs Clubhouse $1,000
18.15 Sofa Clubhouse $2,000
18.16 Small round tables Clubhouse $100
18.18 Wing back chairs Clubhouse $1,200
18.19 Wall hangings Clubhouse $863
18.2 Misc. furniture upgrades Clubhouse $2,536
21.02 Water heater Clubhouse $1,850
Grand Total $46,560
14
2028 2029Sum of 2028 Sum of 2029
LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
1.31 Asphalt patching allowance All Areas $27,481
1.32 Concrete block pavement Bridge $8,144
1.34 Striping All Areas $1,647
2.03 Remove, re-grade, reset, brick paversPool/Clubhouse/Mail $3,054
4.06 Exterior wall lighting Clubhouse $683
4.07 Exterior wall lighting Garage $512
5.01 Street name signs All Areas $1,090
5.02 Traffic control signs All Areas $915
8.01 Irrigation controller All Areas $2,506
8.02 Backflow preventer All Areas $934
9.01 Trash enclosures Pool $1,200
9.1 Exterior cluster mailbox units Mail Kiosk $1,681
10.01 Dam inspection and engineering Retention Pond $732
Grand Total $50,580
15
2030 2031Sum of 2030 Sum of 2031
LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
1.33 Concrete curb and gutter All Areas $69,723
Grand Total $69,723
16
2032 2033Sum of 2032 Sum of 2033
LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
12.03 9' Garage door, residential Garage $2,117 1.01 Asphalt overlay Creeks Crossing Boulevard $25,854
19.01 Toilet partitions Clubhouse $921 1.02 Asphalt street milling Creeks Crossing Boulevard $9,560
19.02 ADA toilet partitions Clubhouse $2,532 24.29 Elevated deck railing Phase IV $4,306
19.03 Urinal screen Clubhouse $412 Grand Total $39,720
19.04 Mirror Clubhouse $844
19.05 Soap dispenser Clubhouse $921
19.06 Toilet tissue dispenser Clubhouse $165
19.07 Paper towel dispenser Clubhouse $175
22.02 HVAC air handler Clubhouse $6,710
Grand Total $14,798
17
2034 2035Sum of 2034 Sum of 2035
LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
1.04 Asphalt overlay Creek Summit Circle $80,309 2.01 Concrete walkway, broom finish All Areas $492
1.05 Asphalt street milling Creek Summit Circle $29,695 2.02 Concrete sidewalk, exposed aggregateAll Areas $20,328
1.31 Asphalt patching allowance All Areas $27,481 Grand Total $20,820
1.32 Concrete block pavement Bridge $8,144
1.34 Striping All Areas $1,647
2.03 Remove, re-grade, reset, brick paversPool/Clubhouse/Mail $3,054
6.01 Wood fence, replace pickets Perimeter $1,161
6.02 Wood fence, replace structure Perimeter $2,927
8.01 Irrigation controller All Areas $2,506
9.02 Bench Pool $2,400
9.03 Small table Pool $1,650
9.04 Patio table Pool $4,000
9.05 Patio chairs Pool $4,125
9.06 Chaise lounger Pool $13,000
9.1 Exterior cluster mailbox units Mail Kiosk $1,681
9.11 Pergolas Clubhouse & Pool $8,935
10.01 Dam inspection and engineering Retention Pond $732
10.05 Trash rack Retention Pond $1,612
24.37 Elevated deck railing Phase V $4,306
Grand Total $199,363
18
2036 2037Sum of 2036 Sum of 2037
LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
24.44 Snow guards All Areas $2,500 1.07 Asphalt overlay Alley #1 (I,H,F,G) $6,978
Grand Total $2,500 1.08 Asphalt street milling Alley #1 (I,H,F,G) $2,580
1.1 Asphalt overlay Alley #2 (E,D,N,P) $8,580
1.11 Asphalt street milling Alley #2 (E,D,N,P) $3,173
9.07 Outdoor island kitchen Pool $2,964
9.09 Refrigerator, mini Pool $800
11.02 Replace skim line tile Pool $4,456
11.04 Resurface pool Pool $6,063
11.06 Pool equipment, filter system Pool $3,206
11.07 Pool equipment, sand filter Pool $1,776
11.08 Pool equipment, chlorination systemPool $2,844
11.09 Pump & motor Seating Area $1,909
11.1 Pump & motor Pool Fountain $3,470
11.11 Pump & motor Pool $5,589
11.14 Pool lights Pool $1,873
12.04 Key pad, door hardware Clubhouse $518
13.01 Ceramic tile walls Clubhouse $3,811
13.02 Ceramic tile floors Clubhouse $8,976
13.03 Wood strip flooring Clubhouse $9,680
13.04 Refinish wood strip flooring Clubhouse $2,907
13.05 Carpet Clubhouse $312
13.06 Repaint interior walls & ceiling Clubhouse $3,050
15.01 Cabinets Clubhouse $5,069
16.01 Microwave, wall mounted Clubhouse $920
16.02 Cooking range, w/ oven Clubhouse $763
16.03 Refrigerator, side by side Clubhouse $2,639
16.04 Dishwasher Clubhouse $2,276
16.05 Garbage disposal Clubhouse $486
17.01 TV, flat screen Clubhouse $1,176
17.02 TV., flat wall mount bracket Clubhouse $367
17.03 Sound System receiver Clubhouse $453
17.04 Sound System speakers Clubhouse $499
18.05 Rug Clubhouse $600
18.07 Lamps Clubhouse $761
18.09 Cabinet, to replace green cabinetClubhouse $642
18.14 Fabric chairs Clubhouse $1,000
18.15 Sofa Clubhouse $2,000
18.17 Small round tables Clubhouse $350
18.18 Wing back chairs Clubhouse $1,200
18.19 Wall hangings Clubhouse $863
19
2036 2037Sum of 2036 Sum of 2037
LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
18.2 Misc. furniture upgrades Clubhouse $2,536
21.01 Plumbing infrastructure, repair allowanceGarage & Clubhouse $1,058
21.03 Drinking fountain, wall mounted Clubhouse $2,735
21.04 Water heater Garage $1,164
21.05 Drinking fountain, wall mounted Garage $2,735
21.06 Toilet Clubhouse $1,719
21.07 Urinal screen Clubhouse $955
21.08 Toilet Garage $573
21.09 Bathroom sink, inset Clubhouse $2,247
21.1 Bathroom sink, wall mounted Garage $471
21.11 Shower stall, with ADA equipmentClubhouse $5,526
21.12 Kitchen sink Clubhouse $1,295
21.13 Mop sink Garage $368
21.14 Mop sink Clubhouse $368
22.01 HVAC condensing unit Clubhouse $7,424
22.03 Heating unit Garage $1,587
23.01 Exhaust vent Garage & Clubhouse $530
23.02 Exhaust vent Chemical Room $1,505
24.04 Shingled roof, full-dimensional asphaltPhase I $112,977
24.06 Aluminum gutter Phase I $15,005
24.07 Aluminum downspout Phase I $4,939
24.08 Front walks & steps Phase I $1,028
24.09 Concrete driveway Phase I $6,473
Grand Total $282,796
20
2038 2039Sum of 2038 Sum of 2039
LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
24.1 Shingled roof, full-dimensional asphaltPhase II $56,488 1.13 Asphalt overlay Alley #3 (O,Q,R,S) $6,635
24.12 Aluminum gutter Phase II $7,503 1.14 Asphalt street milling Alley #3 (O,Q,R,S) $2,453
24.13 Aluminum downspout Phase II $2,470 1.16 Asphalt overlay Alley #4 (U,T,V) $5,148
24.14 Front walks & steps Phase II $514 1.17 Asphalt street milling Alley #4 (U,T,V) $1,904
24.15 Concrete driveway Phase II $3,236 1.19 Asphalt overlay Alley # 5 (M,L,K,C) $21,965
24.28 Elevated decking Phase IV $1,855 1.2 Asphalt street milling Alley # 5 (M,L,K,C) $8,122
Grand Total $72,066 1.22 Asphalt overlay Alley # 6 (W) $7,436
1.23 Asphalt street milling Alley # 6 (W) $2,750
1.25 Asphalt overlay Alley #7 (X,Y) $15,673
1.26 Asphalt street milling Alley #7 (X,Y) $5,795
1.31 Asphalt patching allowance All Areas $27,481
1.32 Concrete block pavement Bridge $8,144
1.34 Striping All Areas $1,647
2.03 Remove, re-grade, reset, brick paversPool/Clubhouse/Mail $3,054
3.01 Curb inlet All Areas $3,843
4.01 Light pole All Areas $43,356
4.02 Road/parking lot fixture, lantern All Areas $32,197
4.03 Gas lantern Bridge $4,000
4.04 Exterior recessed lighting Clubhouse $804
4.05 Exterior recessed lighting Mail Kiosk $690
4.08 Lighting controller and timer Clubhouse/Garage/Mail $1,277
4.09 Lighting controller and timer All Areas $7,801
6.04 Mag. Lock Pool $394
8.01 Irrigation controller All Areas $2,506
9.1 Exterior cluster mailbox units Mail Kiosk $1,681
10.01 Dam inspection and engineering Retention Pond $732
10.02 Dry, fine grade & seed pond slopesRetention Pond $1,173
10.03 Dry, fine grade & seed pond bottomRetention Pond $2,852
10.07 Rip rap Retention Pond $1,302
24.36 Elevated decking Phase V $1,855
25.01 Sewer piping All Areas $2,090
25.02 Water piping All Areas $1,843
Grand Total $228,604
21
2040 2041Sum of 2040 Sum of 2041
LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
1.28 Asphalt overlay Fire Road $4,118
1.29 Asphalt street milling Fire Road $1,523
Grand Total $5,641
22
2042 2043Sum of 2042 Sum of 2043
LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
21.01 Plumbing infrastructure, repair allowanceGarage & Clubhouse $1,058 24.14 Front walks & steps Phase II $514
24.08 Front walks & steps Phase I $1,028 24.22 Shingled roof, full-dimensional asphaltPhase IV $135,572
24.16 Shingled roof, full-dimensional asphaltPhase III $114,268 24.24 Aluminum gutter Phase IV $16,186
24.18 Aluminum gutter Phase III $11,600 24.25 Aluminum downspout Phase IV $8,506
24.19 Aluminum downspout Phase III $7,752 24.26 Front walks & steps Phase IV $1,542
24.2 Front walks & steps Phase III $1,285 24.27 Concrete driveway Phase IV $9,701
24.21 Concrete driveway Phase III $8,087 Grand Total $172,021
Grand Total $145,077
23
2044 2045Sum of 2044 Sum of 2045
LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
1.31 Asphalt patching allowance All Areas $27,481 1.33 Concrete curb and gutterAll Areas $69,723
1.32 Concrete block pavement Bridge $8,144 2.01 Concrete walkway, broom finishAll Areas $492
1.34 Striping All Areas $1,647 2.02 Concrete sidewalk, exposed aggregateAll Areas $20,328
2.03 Remove, re-grade, reset, brick paversPool/Clubhouse/Mail $3,054 Grand Total $90,543
3.01 Curb inlet All Areas $3,843
5.03 Sign post All Areas $2,820
8.01 Irrigation controller All Areas $2,506
9.1 Exterior cluster mailbox units Mail Kiosk $1,681
10.01 Dam inspection and engineering Retention Pond $732
24.3 Shingled roof, full-dimensional asphaltPhase V $75,533
24.32 Aluminum gutter Phase V $7,258
24.33 Aluminum downspout Phase V $4,733
24.34 Front walks & steps Phase V $771
24.35 Concrete driveway Phase V $4,851
25.01 Sewer piping All Areas $2,090
25.02 Water piping All Areas $1,843
Grand Total $148,987
24
ASSESSMENT ALLOCATION
TOTAL BUDGET
Year
Contribution To
Reserves
Special
Assessments
Total Reserve
Assessment
Operating
Budget
Assessment
Total
Assessment
Reserves as a Percentage
of Total Assessment
2016 $33,432.00 $0.00 $33,432.00 $33,432.00 100.00%
2017 $35,738.81 $0.00 $35,738.81 $0.00 $35,738.81 100.00%
2018 $38,204.79 $0.00 $38,204.79 $0.00 $38,204.79 100.00%
2019 $40,840.92 $0.00 $40,840.92 $0.00 $40,840.92 100.00%
2020 $43,658.94 $0.00 $43,658.94 $0.00 $43,658.94 100.00%
82
Unit Type A
100.00%
82
Year
Contribution To
Reserves
Special
Assessments
Total Reserve
Assessment
Operating
Budget
Assessment
Total
Assessment
Annual Increase In Total
Assessment
2016 $407.71 $0.00 $407.71 $0.00 $407.71
2017 $435.84 $0.00 $435.84 $0.00 $435.84 6.90%
2018 $465.91 $0.00 $465.91 $0.00 $465.91 6.90%
2019 $498.06 $0.00 $498.06 $0.00 $498.06 6.90%
2020 $532.43 $0.00 $532.43 $0.00 $532.43 6.90%
Year
Contribution To
Reserves
Special
Assessments
Total Reserve
Assessment
Operating
Budget
Assessment
Total
Assessment
2016 $33.98 $0.00 $33.98 $0.00 $33.98
2017 $36.32 $0.00 $36.32 $0.00 $36.32
2018 $38.83 $0.00 $38.83 $0.00 $38.83
2019 $41.50 $0.00 $41.50 $0.00 $41.50
2020 $44.37 $0.00 $44.37 $0.00 $44.37
Annual Contribution Per Unit Type
Monthly Contribution Per Unit Type
CREEK'S EDGE AT STONY POINT
ALLOCATION CALCULATIONS
Total Number of Units
Percentage Allocation To Unit Type
Number of Units of This Type
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
25
SCHEDULE OF COMPONENTSCREEK'S EDGE AT STONY POINT
LINE
NUMBERCOMPONENT NAME LOCATION COMMENTS AND DESCRIPTION OF SPECIAL CONDITIONS
LAST IN
SERVICE
REPLACEMENT
DATE
1.00 ROADS
1.01 Asphalt overlay Creeks Crossing Boulevard 2009
1.02 Asphalt street milling Creeks Crossing Boulevard 2009
1.03 Asphalt sealcoating Creeks Crossing Boulevard 2009
1.04 Asphalt overlay Creek Summit Circle 2009
1.05 Asphalt street milling Creek Summit Circle 2009
1.06 Asphalt sealcoating Creek Summit Circle 2009
1.07 Asphalt overlay Alley #1 (I,H,F,G) 2009
1.08 Asphalt street milling Alley #1 (I,H,F,G) 2009
1.09 Asphalt sealcoating Alley #1 (I,H,F,G) 2009
1.10 Asphalt overlay Alley #2 (E,D,N,P) 2009
1.11 Asphalt street milling Alley #2 (E,D,N,P) 2009
1.12 Asphalt sealcoating Alley #2 (E,D,N,P) 2009
1.13 Asphalt overlay Alley #3 (O,Q,R,S) 2009
1.14 Asphalt street milling Alley #3 (O,Q,R,S) 2009
1.15 Asphalt sealcoating Alley #3 (O,Q,R,S) 2009
1.16 Asphalt overlay Alley #4 (U,T,V) 2009
1.17 Asphalt street milling Alley #4 (U,T,V) 2009
1.18 Asphalt sealcoating Alley #4 (U,T,V) 2009
1.19 Asphalt overlay Alley # 5 (M,L,K,C) 2009
1.20 Asphalt street milling Alley # 5 (M,L,K,C) 2009
1.21 Asphalt sealcoating Alley # 5 (M,L,K,C) 2009
1.22 Asphalt overlay Alley # 6 (W) 2009
1.23 Asphalt street milling Alley # 6 (W) 2009
1.24 Asphalt sealcoating Alley # 6 (W) 2009
1.25 Asphalt overlay Alley #7 (X,Y) 2009
1.26 Asphalt street milling Alley #7 (X,Y) 2009
1.27 Asphalt sealcoating Alley #7 (X,Y) 2009
1.28 Asphalt overlay Fire Road 2009
1.29 Asphalt street milling Fire Road 2009
1.30 Asphalt sealcoating Fire Road 2009
1.31 Asphalt patching allowance All Areas 2014
1.32 Concrete block pavement Bridge 2009
1.33 Concrete curb and gutter All Areas 2015
1.34 Striping All Areas 2009
2.00 FLATWORK
2.01 Concrete walkway, broom finish All Areas 2015
2.02 Concrete sidewalk, exposed aggregate All Areas 2015
2.03 Remove, re-grade, reset, brick pavers Pool/Clubhouse/Mail 2014
3.00 DRAINAGE
3.01 Curb inlet All Areas 2009
3.02 Storm pipe All Areas 2009
4.00 EXTERIOR LIGHTING
4.01 Light pole All Areas 2009
There were several areas of linear and alligator cracking throughout the
community with signs that some sections have been patched in the past. Due to
the continuing construction in the community it is recommended that the
patching continue to prevent severe damage in failed areas and a possible
overlay occur in the worst areas once construction is completed. Sealcoating is
often considered a discretionary application which mostly deals with maintaining
an aesthetic throughout a community. This component can be removed or the
interval be adjusted based on the preference of the Association. It is currently
not calculating financially as it was not included in the previous study. We have
included the block pavers of the bridge as a percentage repair over time. This
can be removed if paid out of Operating funds. There was significant weed
growth noticed on the bridge between blocks which should be removed to
prevent damage from roots. Due to the current condition of the roads we have
increased the patching allowance and can adjust this to better reflect the cost
and time experiences of the Association.
Overall the walkways appear to be in good working order with no noticed signs
of extreme lifting/shifting/sinking or cracked areas. These components are set
as a percentage replacement over time.
The storm drainage system is assumed in working order.
AGEBASIC COMPONENT INFORMATION SITE VISIT INFORMATION
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
26
SCHEDULE OF COMPONENTSCREEK'S EDGE AT STONY POINT
LINE
NUMBERCOMPONENT NAME LOCATION COMMENTS AND DESCRIPTION OF SPECIAL CONDITIONS
LAST IN
SERVICE
REPLACEMENT
DATE
AGEBASIC COMPONENT INFORMATION SITE VISIT INFORMATION
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
4.02 Road/parking lot fixture, lantern All Areas 2009
4.03 Gas lantern Bridge 2009
4.04 Exterior recessed lighting Clubhouse 2009
4.05 Exterior recessed lighting Mail Kiosk 2009
4.06 Exterior wall lighting Clubhouse 2009
4.07 Exterior wall lighting Garage 2009
4.08 Lighting controller and timer Clubhouse/Garage/Mail 2009
4.09 Lighting controller and timer All Areas 2009
4.10 Med. Voltage Underground wiring All Areas 2009
5.00 EXTERIOR SIGNAGE
5.01 Street name signs All Areas 2009
5.02 Traffic control signs All Areas 2009
5.03 Sign post All Areas 2009
6.00 FENCING
6.01 Wood fence, replace pickets Perimeter 2009
6.02 Wood fence, replace structure Perimeter 2009
6.03 Mtl.. tube picket fence - 4'h Pool 2009
6.04 Mag. Lock Pool 2009
7.00 RETAINING WALLS
7.01 Block retaining wall Northwest Perimeter 2009
7.02 Block retaining wall Bridge 2009
7.03 Brick retaining wall Clubhouse 2009
7.04 Brick retaining wall Creeks Crossing Units 2009
7.05 Brick retaining wall Creeks Summit Units 2009
8.00 IRRIGATION AND LANDSCAPING
8.01 Irrigation controller All Areas 2009
8.02 Backflow preventer All Areas 2009
9.00 SITE FURNISHINGS & STRUCTURES
9.01 Trash enclosures Pool 2009
9.02 Bench Pool 2009
9.03 Small table Pool 2009
9.04 Patio table Pool 2009
9.05 Patio chairs Pool 2009
9.06 Chaise lounger Pool 2009
9.07 Outdoor island kitchen Pool 2007
9.08 Gas Grills, stainless Pool 2007
9.09 Refrigerator, mini Pool 2007
9.10 Exterior cluster mailbox units Mail Kiosk 2014
9.11 Pergolas Clubhouse & Pool 2009
10.00 LAKES, PONDS AND BMP'S
10.01 Dam inspection and engineering Retention Pond 2014
10.02 Dry, fine grade & seed pond slopes Retention Pond 2009
10.03 Dry, fine grade & seed pond bottom Retention Pond 2009
10.04 Riser Retention Pond 2009
The wood fencing is currently overgrown which made it hard to see but there
were some areas of damage noticed which appear to be due to downed trees.
These components can be replaced as a percentage over time. The pool fence
is leaning in some sections but otherwise is in good condition.
Overall the retaining walls appear to be in good working order. The walls of the
bridge have been added in this study and the brick walls throughout the
community have been broken out. See the note under the Swimming Pool
section regarding the Clubhouse Brick retaining wall.
Assumed in working order. These components were not on during the time of
the site visit.
Overall the site furnishings appear to be in fair working condition. The outdoor
kitchen island is in a state of failure and according to the discussion had during
the site visit, this is planned for replacement next Spring. There were some
areas of warping within the teak furniture most noticably on the benches
surrounding the stone water feature. We have maintained the same useful life
from the previous study but can adjust this to reflect a percentage replacment
over time. There was some damage to the mail kiosk siding likely due to rough
use of the cluster door as it is opened and closed. According to the developer,
these components are heavily abused which is why we have them as a
percentage replacement over time.
The components related to the Retention pond have been expanded since the
previous study. As this is a dry pond we have included prices for periodic re-
seeding of the slopes and bottom which are costs not typically included in a
Landscaping Contract. These costs and frequencies can be adjusted to reflect
The exterior lighting was not on during the time of the site visit. It is assumed in
overall good working order with the possible exception of the gas lights on the
bridge. During the site visit it was mentioned that there had been issues with
these lights. The replacement interval for these can be adjusted to better reflect
any information provided by the community.
Overall the community signage appears to be in good working condition. There
is some slight damage to the sign post bases due to lawn equipment.
27
SCHEDULE OF COMPONENTSCREEK'S EDGE AT STONY POINT
LINE
NUMBERCOMPONENT NAME LOCATION COMMENTS AND DESCRIPTION OF SPECIAL CONDITIONS
LAST IN
SERVICE
REPLACEMENT
DATE
AGEBASIC COMPONENT INFORMATION SITE VISIT INFORMATION
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
10.05 Trash rack Retention Pond 2009
10.06 Piping Retention Pond 2009
10.07 Rip rap Retention Pond 2009
11.00 SWIMMING POOLS
11.01 Replace pool structure Pool 2007
11.02 Replace skim line tile Pool 2007
11.03 Replace coping Pool 2007
11.04 Resurface pool Pool 2007
11.05 Replace piping and valves Pool 2007
11.06 Pool equipment, filter system Pool 2007
11.07 Pool equipment, sand filter Pool 2007
11.08 Pool equipment, chlorination system Pool 2007
11.09 Pump & motor Seating Area 2007
11.10 Pump & motor Pool Fountain 2007
11.11 Pump & motor Pool 2007
11.12 Ladders, stainless steel, 4 tread Pool 2007
11.13 Stair rail Pool 2007
11.14 Pool lights Pool 2007
12.00 DOORS & WINDOWS
12.01 Exterior door, solid, single Garage & Clubhouse 2007
12.02 Exterior door, glass, double Clubhouse 2007
12.03 9' Garage door, residential Garage 2007
12.04 Key pad, door hardware Clubhouse 2007
12.05 Interior door Garage 2007
12.06 Interior door Clubhouse 2007
12.07 Windows, fixed Clubhouse 2007
12.08 Windows, double-hung Garage & Clubhouse 2007
13.00 FINISHES
13.01 Ceramic tile walls Clubhouse 2007
13.02 Ceramic tile floors Clubhouse 2007
13.03 Wood strip flooring Clubhouse 2007
13.04 Refinish wood strip flooring Clubhouse 2007
13.05 Carpet Clubhouse 2007
13.06 Repaint interior walls & ceiling Clubhouse 2017
14.00 INTERIOR LIGHTING
14.01 Fluorescent light fixture Clubhouse 2007
14.02 Fluorescent light fixture Garage & Pump Room 2007
14.03 Recessed light fixture Clubhouse 2007
14.04 Recessed light fixture Clubhouse 2017
14.05 Incandescent light fixture Clubhouse 2007
14.06 Incandescent light fixture Chemical Room 2007
14.07 Chandeliers Clubhouse 2007
14.08 Emergency lighting Clubhouse 2007
14.09 Exit lighting Clubhouse 2007
Overall the pool appears to be in good working condition with exception to the
pool lights which have been turned off due to a leak in the control boxes. These
should be fixed to prevent possible electrical issues as well as damage to the
brick retaining wall due to a constant flow of chemical filled water which will likely
cause premature failure of mortar if not repaired soon.
Other than some slight damage to door frames mainly around the exterior doors
to the Chemical and Pump Rooms the doors were all in good working order
during the time of the site visit.
The interior painting cost should be adjusted to reflect quotes obtained for work
to be done. There was some damage noticed on the wood flooring though it is
in overall fair working condition. The office carpet was not viewed during the site
visit as the room was locked.
The interior lighting in both the Clubhouse and the Garage area were working
during the time of the site visit. Some of these components can be adjusted to
reflect a percentage replacement over time if the community so chooses.
Landscaping Contract. These costs and frequencies can be adjusted to reflect
the community's experiences as it ages.
28
SCHEDULE OF COMPONENTSCREEK'S EDGE AT STONY POINT
LINE
NUMBERCOMPONENT NAME LOCATION COMMENTS AND DESCRIPTION OF SPECIAL CONDITIONS
LAST IN
SERVICE
REPLACEMENT
DATE
AGEBASIC COMPONENT INFORMATION SITE VISIT INFORMATION
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
14.10 Ceiling fan Clubhouse 2007
15.00 CASEWORK
15.01 Cabinets Clubhouse 2007
15.02 Countertops Clubhouse 2007
16.00 APPLIANCES
16.01 Microwave, wall mounted Clubhouse 2007
16.02 Cooking range, w/ oven Clubhouse 2007
16.03 Refrigerator, side by side Clubhouse 2007
16.04 Dishwasher Clubhouse 2007
16.05 Garbage disposal Clubhouse 2007
17.00 ELECTRONICS
17.01 TV, flat screen Clubhouse 2007
17.02 TV., flat wall mount bracket Clubhouse 2007
17.03 Sound System receiver Clubhouse 2007
17.04 Sound System speakers Clubhouse 2007
18.00 FURNISHINGS
18.01 Blinds, horizontal Clubhouse 2007
18.02 Window treatment, large Clubhouse 2007
18.03 Window treatment, small Clubhouse 2007
18.04 Side table Clubhouse 2007
18.05 Rug Clubhouse 2017
18.06 Lamps Clubhouse 2007
18.07 Lamps Clubhouse 2017
18.08 Desk Clubhouse 2007
18.09 Cabinet, to replace green cabinet Clubhouse 2017
18.10 Coffee table Clubhouse 2007
18.11 End tables Clubhouse 2007
18.12 Dining tables Clubhouse 2007
18.13 Dining chairs Clubhouse 2007
18.14 Fabric chairs Clubhouse 2017
18.15 Sofa Clubhouse 2017
18.16 Small round tables Clubhouse 2007
18.17 Small round tables Clubhouse 2017
18.18 Wing back chairs Clubhouse 2017
18.19 Wall hangings Clubhouse 2017
18.20 Misc. furniture upgrades Clubhouse 2017
19.00 RESTROOM FIXTURES
19.01 Toilet partitions Clubhouse 2007
19.02 ADA toilet partitions Clubhouse 2007
19.03 Urinal screen Clubhouse 2007
19.04 Mirror Clubhouse 2007
19.05 Soap dispenser Clubhouse 2007
19.06 Toilet tissue dispenser Clubhouse 2007
19.07 Paper towel dispenser Clubhouse 2007
These components are assumed in working order. They were not on during the
time of the site visit.
These components are assumed in working order. They were not on during the
time of the site visit.
Overall the restrooms appear to be in good working order with no noticed signs
of premature failure or damage.
Prices for some interior furnishings have been adjusted to reflect a recent bid for
future work.
The cabinets and counters in the kitchen appeared to be in good condition with
no noticed signs of damage or failure.
29
SCHEDULE OF COMPONENTSCREEK'S EDGE AT STONY POINT
LINE
NUMBERCOMPONENT NAME LOCATION COMMENTS AND DESCRIPTION OF SPECIAL CONDITIONS
LAST IN
SERVICE
REPLACEMENT
DATE
AGEBASIC COMPONENT INFORMATION SITE VISIT INFORMATION
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
19.08 Countertops, batrhoom sink Clubhouse 2007
20.00 ELECTRICAL
20.01 Wiring riser system, repair allowance Garage & Clubhouse 2007
20.02 Electrical panel Clubhouse 2007
20.03 Electrical panel Garage 2007
21.00 PLUMBING
21.01 Plumbing infrastructure, repair allowance Garage & Clubhouse 2007
21.02 Water heater Clubhouse 2007
21.03 Drinking fountain, wall mounted Clubhouse 2007
21.04 Water heater Garage 2007
21.05 Drinking fountain, wall mounted Garage 2007
21.06 Toilet Clubhouse 2007
21.07 Urinal screen Clubhouse 2007
21.08 Toilet Garage 2007
21.09 Bathroom sink, inset Clubhouse 2007
21.10 Bathroom sink, wall mounted Garage 2007
21.11 Shower stall, with ADA equipment Clubhouse 2007
21.12 Kitchen sink Clubhouse 2007
21.13 Mop sink Garage 2007
21.14 Mop sink Clubhouse 2007
22.00 HVAC
22.01 HVAC condensing unit Clubhouse 2007
22.02 HVAC air handler Clubhouse 2007
22.03 Heating unit Garage 2007
23.00 MECHANICAL
23.01 Exhaust vent Garage & Clubhouse 2007
23.02 Exhaust vent Chemical Room 2007
23.03 Gas meter Clubhouse 2007
23.04 Gas fireplace insert Clubhouse 2007
24.00 BUILDING EXTERIORS
24.01 Metal roof Clubhouse Roof appears in overall excellent working condition. 2007
24.02 Aluminum gutter Clubhouse 2017
24.03 Aluminum downspout Clubhouse 2017
24.02 Metal roof Garage Roof appears in overall excellent working condition. 2007
24.03 Metal roof Mail Kiosk Roof appears in overall excellent working condition. 2007
24.04 Shingled roof, full-dimensional asphalt Phase I 2007
24.05 Metal roof Phase I 2007
24.06 Aluminum gutter Phase I 2007
24.07 Aluminum downspout Phase I 2007
24.08 Front walks & steps Phase I 2007
24.09 Concrete driveway Phase I 2007
24.10 Shingled roof, full-dimensional asphalt Phase II 2008
24.11 Metal roof Phase II 2008
24.12 Aluminum gutter Phase II 2008
Overall the plumbing fixtures appeared to be in working order. There were no
noticed signs of leaks or damage to the interior plumbing fixtures. According to
the board, the piping for the small garage water heater was recently replaced
due to a broken pipe.
Assumed in working order. According to management, the HVAC system has
had some work done recently. We have included the heating system in the
Garage to the study.
Assumed in working order. Bathroom vents were running when turned on. Vent
in the Chemical Room was not on during the time of the site visit.
Overall the building exterior components for the various unit types and styles
appear to be in good condition with no noticed signs of damage, defect, or failure
visible during the site visit. Quantities have been adjusted since previous study
based on actual various building types and their associated component
quantities. Painting and Siding repairs are not calculating.
Overall the building exterior components for the various unit types and styles
appear to be in good condition with no noticed signs of damage, defect, or failure
visible during the site visit. Quantities have been adjusted since previous study
Being added in 2017. Not being paid for from Reserves until after initial
instllation.
Interior electrical components appeared to be in working condition.
30
SCHEDULE OF COMPONENTSCREEK'S EDGE AT STONY POINT
LINE
NUMBERCOMPONENT NAME LOCATION COMMENTS AND DESCRIPTION OF SPECIAL CONDITIONS
LAST IN
SERVICE
REPLACEMENT
DATE
AGEBASIC COMPONENT INFORMATION SITE VISIT INFORMATION
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
24.13 Aluminum downspout Phase II 2008
24.14 Front walks & steps Phase II 2008
24.15 Concrete driveway Phase II 2008
24.16 Shingled roof, full-dimensional asphalt Phase III 2012
24.17 Metal roof Phase III 2012
24.18 Aluminum gutter Phase III 2012
24.19 Aluminum downspout Phase III 2012
24.20 Front walks & steps Phase III 2012
24.21 Concrete driveway Phase III 2012
24.22 Shingled roof, full-dimensional asphalt Phase IV 2013
24.23 Metal roof Phase IV 2013
24.24 Aluminum gutter Phase IV 2013
24.25 Aluminum downspout Phase IV 2013
24.26 Front walks & steps Phase IV 2013
24.27 Concrete driveway Phase IV 2013
24.28 Elevated decking Phase IV 2013
24.29 Elevated deck railing Phase IV 2013
24.30 Shingled roof, full-dimensional asphalt Phase V 2014
24.31 Metal roof Phase V 2014
24.32 Aluminum gutter Phase V 2014
24.33 Aluminum downspout Phase V 2014
24.34 Front walks & steps Phase V 2014
24.35 Concrete driveway Phase V 2014
24.36 Elevated decking Phase V 2014
24.37 Elevated deck railing Phase V 2014
24.38 Shingled roof, full-dimensional asphalt Phase VI 2016
24.39 Metal roof Phase VI 2016
24.40 Aluminum gutter Phase VI 2016
24.41 Aluminum downspout Phase VI 2016
24.42 Front walks & steps Phase VI 2016
24.43 Concrete driveway Phase VI 2016
24.44 Snow guards All Areas Cost and Useful Life based on Community Experience. 2016
25.00 SEWER/WATER LINES
25.01 Sewer piping All Areas 2009
25.02 Water piping All Areas 2009
Overall the building exterior components for the various unit types and styles
appear to be in good condition with no noticed signs of damage, defect, or failure
visible during the site visit. Quantities have been adjusted since previous study
based on actual various building types and their associated component
quantities. Painting and Siding repairs are not calculating.
Overall the building exterior components for the various unit types and styles
appear to be in good condition with no noticed signs of damage, defect, or failure
visible during the site visit. Quantities have been adjusted since previous study
based on actual various building types and their associated component
quantities. Painting and Siding repairs are not calculating.
Assumed in working order.
Overall the building exterior components for the various unit types and styles
appear to be in good condition with no noticed signs of damage, defect, or failure
visible during the site visit. Quantities have been adjusted since previous study
based on actual various building types and their associated component
quantities. Painting and Siding repairs are not calculating.
Overall the building exterior components for the various unit types and styles
appear to be in good condition with no noticed signs of damage, defect, or failure
visible during the site visit. Quantities have been adjusted since previous study
based on actual various building types and their associated component
quantities. Painting and Siding repairs are not calculating.
visible during the site visit. Quantities have been adjusted since previous study
based on actual various building types and their associated component
quantities. Painting and Siding repairs are not calculating.
31
SCHEDULE OF COMPONENTSCREEK'S EDGE AT STONY POINT
LINE
NUMBERCOMPONENT NAME LOCATION
1.00 ROADS
1.01 Asphalt overlay Creeks Crossing Boulevard
1.02 Asphalt street milling Creeks Crossing Boulevard
1.03 Asphalt sealcoating Creeks Crossing Boulevard
1.04 Asphalt overlay Creek Summit Circle
1.05 Asphalt street milling Creek Summit Circle
1.06 Asphalt sealcoating Creek Summit Circle
1.07 Asphalt overlay Alley #1 (I,H,F,G)
1.08 Asphalt street milling Alley #1 (I,H,F,G)
1.09 Asphalt sealcoating Alley #1 (I,H,F,G)
1.10 Asphalt overlay Alley #2 (E,D,N,P)
1.11 Asphalt street milling Alley #2 (E,D,N,P)
1.12 Asphalt sealcoating Alley #2 (E,D,N,P)
1.13 Asphalt overlay Alley #3 (O,Q,R,S)
1.14 Asphalt street milling Alley #3 (O,Q,R,S)
1.15 Asphalt sealcoating Alley #3 (O,Q,R,S)
1.16 Asphalt overlay Alley #4 (U,T,V)
1.17 Asphalt street milling Alley #4 (U,T,V)
1.18 Asphalt sealcoating Alley #4 (U,T,V)
1.19 Asphalt overlay Alley # 5 (M,L,K,C)
1.20 Asphalt street milling Alley # 5 (M,L,K,C)
1.21 Asphalt sealcoating Alley # 5 (M,L,K,C)
1.22 Asphalt overlay Alley # 6 (W)
1.23 Asphalt street milling Alley # 6 (W)
1.24 Asphalt sealcoating Alley # 6 (W)
1.25 Asphalt overlay Alley #7 (X,Y)
1.26 Asphalt street milling Alley #7 (X,Y)
1.27 Asphalt sealcoating Alley #7 (X,Y)
1.28 Asphalt overlay Fire Road
1.29 Asphalt street milling Fire Road
1.30 Asphalt sealcoating Fire Road
1.31 Asphalt patching allowance All Areas
1.32 Concrete block pavement Bridge
1.33 Concrete curb and gutter All Areas
1.34 Striping All Areas
2.00 FLATWORK
2.01 Concrete walkway, broom finish All Areas
2.02 Concrete sidewalk, exposed aggregate All Areas
2.03 Remove, re-grade, reset, brick pavers Pool/Clubhouse/Mail
3.00 DRAINAGE
3.01 Curb inlet All Areas
3.02 Storm pipe All Areas
4.00 EXTERIOR LIGHTING
4.01 Light pole All Areas
BASIC COMPONENT INFORMATION
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
LOCATION CCI 87.7 BASE CCI 87.7
ESTIMATED
USEFUL LIFE
(EUL) BEFORE
FIRST
REPLACEMENT
REPLACEMENT
INTERVAL
AFTER FIRST
REPLACEMENT
REMAINING
USEFUL
LIFE OR
YEARS PAST
DUE
NEXT YEAR
REPLACED
PERCENT OF
QUANTITY TO
BE REPLACED
UNITSQUANTITY
OR COUNTUNIT COST
REPLACEMENT
COST, PER
OCCURRENCE
24 25 17 2033 100% SY 2260 $11.44 $25,854.40
24 25 17 2033 100% SY 2260 $4.23 $9,559.80
5 5 (2) 2014 0% SY 2260 $0.94 $0.00
25 25 18 2034 100% SY 7020 $11.44 $80,308.80
25 25 18 2034 100% SY 7020 $4.23 $29,694.60
5 5 (2) 2014 0% SY 7020 $0.94 $0.00
28 25 21 2037 100% SY 610 $11.44 $6,978.40
28 25 21 2037 100% SY 610 $4.23 $2,580.30
5 5 (2) 2014 0% SY 610 $0.94 $0.00
28 25 21 2037 100% SY 750 $11.44 $8,580.00
28 25 21 2037 100% SY 750 $4.23 $3,172.50
5 5 (2) 2014 0% SY 750 $0.94 $0.00
30 25 23 2039 100% SY 580 $11.44 $6,635.20
30 25 23 2039 100% SY 580 $4.23 $2,453.40
5 5 (2) 2014 0% SY 580 $0.94 $0.00
30 25 23 2039 100% SY 450 $11.44 $5,148.00
30 25 23 2039 100% SY 450 $4.23 $1,903.50
5 5 (2) 2014 0% SY 450 $0.94 $0.00
30 25 23 2039 100% SY 1920 $11.44 $21,964.80
30 25 23 2039 100% SY 1920 $4.23 $8,121.60
5 5 (2) 2014 0% SY 1920 $0.94 $0.00
30 25 23 2039 100% SY 650 $11.44 $7,436.00
30 25 23 2039 100% SY 650 $4.23 $2,749.50
5 5 (2) 2014 0% SY 650 $0.94 $0.00
30 25 23 2039 100% SY 1370 $11.44 $15,672.80
30 25 23 2039 100% SY 1370 $4.23 $5,795.10
5 5 (2) 2014 0% SY 1370 $0.94 $0.00
32 25 25 2041 100% SY 360 $11.44 $4,118.40
32 25 25 2041 100% SY 360 $4.23 $1,522.80
5 5 (2) 2014 0% SY 360 $0.94 $0.00
5 5 3 2019 2% SY 15970 $86.04 $27,481.18
20 5 13 2029 5% SF 3100 $52.54 $8,143.70
15 15 14 2030 5% LF 20280 $68.76 $69,722.64
10 5 3 2019 100% SPACE 81 $20.33 $1,646.73
10 10 9 2025 5% SF 1240 $7.93 $491.66
10 10 9 2025 5% SF 22290 $18.24 $20,328.48
5 5 3 2019 10% SF 2360 $12.94 $3,053.84
30 5 23 2039 5% EA 24 $3,202.14 $3,842.57
50 5 43 2059 5% LF 7200 $72.92 $26,251.20
30 30 23 2039 100% EA 36 $1,204.34 $43,356.24
LIFE CYCLEREPLACEMENT COST
32
SCHEDULE OF COMPONENTSCREEK'S EDGE AT STONY POINT
LINE
NUMBERCOMPONENT NAME LOCATION
1.00 ROADS
BASIC COMPONENT INFORMATION
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
4.02 Road/parking lot fixture, lantern All Areas
4.03 Gas lantern Bridge
4.04 Exterior recessed lighting Clubhouse
4.05 Exterior recessed lighting Mail Kiosk
4.06 Exterior wall lighting Clubhouse
4.07 Exterior wall lighting Garage
4.08 Lighting controller and timer Clubhouse/Garage/Mail
4.09 Lighting controller and timer All Areas
4.10 Med. Voltage Underground wiring All Areas
5.00 EXTERIOR SIGNAGE
5.01 Street name signs All Areas
5.02 Traffic control signs All Areas
5.03 Sign post All Areas
6.00 FENCING
6.01 Wood fence, replace pickets Perimeter
6.02 Wood fence, replace structure Perimeter
6.03 Mtl.. tube picket fence - 4'h Pool
6.04 Mag. Lock Pool
7.00 RETAINING WALLS
7.01 Block retaining wall Northwest Perimeter
7.02 Block retaining wall Bridge
7.03 Brick retaining wall Clubhouse
7.04 Brick retaining wall Creeks Crossing Units
7.05 Brick retaining wall Creeks Summit Units
8.00 IRRIGATION AND LANDSCAPING
8.01 Irrigation controller All Areas
8.02 Backflow preventer All Areas
9.00 SITE FURNISHINGS & STRUCTURES
9.01 Trash enclosures Pool
9.02 Bench Pool
9.03 Small table Pool
9.04 Patio table Pool
9.05 Patio chairs Pool
9.06 Chaise lounger Pool
9.07 Outdoor island kitchen Pool
9.08 Gas Grills, stainless Pool
9.09 Refrigerator, mini Pool
9.10 Exterior cluster mailbox units Mail Kiosk
9.11 Pergolas Clubhouse & Pool
10.00 LAKES, PONDS AND BMP'S
10.01 Dam inspection and engineering Retention Pond
10.02 Dry, fine grade & seed pond slopes Retention Pond
10.03 Dry, fine grade & seed pond bottom Retention Pond
10.04 Riser Retention Pond
LOCATION CCI 87.7 BASE CCI 87.7
ESTIMATED
USEFUL LIFE
(EUL) BEFORE
FIRST
REPLACEMENT
REPLACEMENT
INTERVAL
AFTER FIRST
REPLACEMENT
REMAINING
USEFUL
LIFE OR
YEARS PAST
DUE
NEXT YEAR
REPLACED
PERCENT OF
QUANTITY TO
BE REPLACED
UNITSQUANTITY
OR COUNTUNIT COST
REPLACEMENT
COST, PER
OCCURRENCE
LIFE CYCLEREPLACEMENT COST
15 15 8 2024 100% EA 36 $894.37 $32,197.32
15 15 8 2024 100% EA 4 $1,000.00 $4,000.00
15 15 8 2024 100% EA 7 $114.92 $804.44
15 15 8 2024 100% EA 6 $114.92 $689.52
20 20 13 2029 100% EA 4 $170.80 $683.20
20 20 13 2029 100% EA 3 $170.80 $512.40
30 30 23 2039 100% EA 1 $1,277.38 $1,277.38
30 30 23 2039 100% EA 1 $7,801.18 $7,801.18
50 50 43 2059 100% LF 4000 $9.18 $36,720.00
20 20 13 2029 100% EA 4 $272.60 $1,090.40
20 20 13 2029 100% EA 5 $182.90 $914.50
35 35 28 2044 100% EA 5 $563.97 $2,819.85
25 25 18 2034 10% LF 520 $22.32 $1,160.64
25 25 18 2034 10% LF 520 $56.28 $2,926.56
50 50 43 2059 100% LF 210 $41.70 $8,757.00
30 30 23 2039 100% EA 1 $394.48 $394.48
75 10 68 2084 10% SF 6000 $95.37 $57,222.00
75 10 68 2084 10% SF 4770 $95.37 $45,491.49
40 10 33 2049 10% SF 678 $108.34 $7,345.45
40 10 33 2049 10% SF 1007 $108.34 $10,909.84
40 10 33 2049 10% SF 678 $108.34 $7,345.45
10 5 3 2019 25% EA 4 $2,505.92 $2,505.92
20 20 13 2029 100% EA 1 $934.46 $934.46
20 20 13 2029 100% EA 2 $600.00 $1,200.00
25 25 18 2034 100% EA 2 $1,200.00 $2,400.00
25 25 18 2034 100% EA 6 $275.00 $1,650.00
25 25 18 2034 100% EA 4 $1,000.00 $4,000.00
25 25 18 2034 100% EA 15 $275.00 $4,125.00
25 25 18 2034 100% EA 13 $1,000.00 $13,000.00
10 10 1 2017 100% LF 6 $494.01 $2,964.06
20 20 11 2027 100% EA 1 $300.00 $300.00
15 15 6 2022 100% EA 1 $800.00 $800.00
5 5 3 2019 17% EA 6 $1,681.00 $1,681.34
25 25 18 2034 100% SF 500 $17.87 $8,935.00
5 5 3 2019 100% LS 1 $732.40 $732.40
30 30 23 2039 20% SY 1573 $3.73 $1,173.46
30 30 23 2039 20% SY 1886 $7.56 $2,851.63
50 50 43 2059 100% EA 2 $6,116.44 $12,232.88
33
SCHEDULE OF COMPONENTSCREEK'S EDGE AT STONY POINT
LINE
NUMBERCOMPONENT NAME LOCATION
1.00 ROADS
BASIC COMPONENT INFORMATION
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
10.05 Trash rack Retention Pond
10.06 Piping Retention Pond
10.07 Rip rap Retention Pond
11.00 SWIMMING POOLS
11.01 Replace pool structure Pool
11.02 Replace skim line tile Pool
11.03 Replace coping Pool
11.04 Resurface pool Pool
11.05 Replace piping and valves Pool
11.06 Pool equipment, filter system Pool
11.07 Pool equipment, sand filter Pool
11.08 Pool equipment, chlorination system Pool
11.09 Pump & motor Seating Area
11.10 Pump & motor Pool Fountain
11.11 Pump & motor Pool
11.12 Ladders, stainless steel, 4 tread Pool
11.13 Stair rail Pool
11.14 Pool lights Pool
12.00 DOORS & WINDOWS
12.01 Exterior door, solid, single Garage & Clubhouse
12.02 Exterior door, glass, double Clubhouse
12.03 9' Garage door, residential Garage
12.04 Key pad, door hardware Clubhouse
12.05 Interior door Garage
12.06 Interior door Clubhouse
12.07 Windows, fixed Clubhouse
12.08 Windows, double-hung Garage & Clubhouse
13.00 FINISHES
13.01 Ceramic tile walls Clubhouse
13.02 Ceramic tile floors Clubhouse
13.03 Wood strip flooring Clubhouse
13.04 Refinish wood strip flooring Clubhouse
13.05 Carpet Clubhouse
13.06 Repaint interior walls & ceiling Clubhouse
14.00 INTERIOR LIGHTING
14.01 Fluorescent light fixture Clubhouse
14.02 Fluorescent light fixture Garage & Pump Room
14.03 Recessed light fixture Clubhouse
14.04 Recessed light fixture Clubhouse
14.05 Incandescent light fixture Clubhouse
14.06 Incandescent light fixture Chemical Room
14.07 Chandeliers Clubhouse
14.08 Emergency lighting Clubhouse
14.09 Exit lighting Clubhouse
LOCATION CCI 87.7 BASE CCI 87.7
ESTIMATED
USEFUL LIFE
(EUL) BEFORE
FIRST
REPLACEMENT
REPLACEMENT
INTERVAL
AFTER FIRST
REPLACEMENT
REMAINING
USEFUL
LIFE OR
YEARS PAST
DUE
NEXT YEAR
REPLACED
PERCENT OF
QUANTITY TO
BE REPLACED
UNITSQUANTITY
OR COUNTUNIT COST
REPLACEMENT
COST, PER
OCCURRENCE
LIFE CYCLEREPLACEMENT COST
25 25 18 2034 100% EA 2 $805.78 $1,611.56
50 5 43 2059 5% LF 80 $66.11 $264.44
30 30 23 2039 20% SY 66 $98.67 $1,302.44
40 40 31 2047 100% SSF 1100 $132.30 $145,530.00
10 10 1 2017 100% LF 170 $26.21 $4,455.70
20 20 11 2027 100% LF 170 $57.61 $9,793.70
10 10 1 2017 100% SF 2120 $2.86 $6,063.20
40 40 31 2047 100% LF 160 $70.87 $11,339.20
15 15 6 2022 100% LS 1 $3,206.08 $3,206.08
15 15 6 2022 100% EA 1 $1,775.80 $1,775.80
10 10 1 2017 100% LS 1 $2,843.61 $2,843.61
15 15 6 2022 100% EA 1 $1,908.98 $1,908.98
15 15 6 2022 100% EA 1 $3,469.71 $3,469.71
15 15 6 2022 100% EA 1 $5,589.00 $5,589.00
40 40 31 2047 100% EA 1 $1,389.92 $1,389.92
40 40 31 2047 100% EA 1 $218.72 $218.72
10 20 1 2017 100% EA 2 $936.38 $1,872.76
50 50 41 2057 100% EA 5 $1,913.14 $9,565.70
50 50 41 2057 100% PR 4 $2,886.99 $11,547.96
25 25 16 2032 100% EA 1 $2,116.82 $2,116.82
30 30 21 2037 100% EA 2 $259.10 $518.20
40 40 31 2047 100% EA 1 $245.19 $245.19
40 40 31 2047 100% EA 6 $245.19 $1,471.14
50 50 41 2057 100% EA 16 $352.41 $5,638.56
50 50 41 2057 100% EA 13 $531.92 $6,914.96
30 30 21 2037 100% SF 380 $10.03 $3,811.40
30 30 21 2037 100% SF 400 $22.44 $8,976.00
30 30 21 2037 100% SF 1020 $9.49 $9,679.80
15 15 6 2022 100% SF 1020 $2.85 $2,907.00
10 10 1 2017 100% SY 9 $34.65 $311.85
10 10 11 2027 100% LS 1 $3,050.00 $3,050.00
40 40 31 2047 100% EA 2 $190.31 $380.62
40 40 31 2047 100% EA 9 $190.31 $1,712.79
40 40 31 2047 100% EA 31 $159.95 $4,958.45
40 40 41 2057 100% LS 1 $1,175.00 $1,175.00
40 40 31 2047 100% EA 1 $193.02 $193.02
40 40 31 2047 100% EA 1 $193.02 $193.02
40 40 31 2047 100% EA 1 $587.37 $587.37
40 40 31 2047 100% EA 2 $728.24 $1,456.48
40 40 31 2047 100% EA 3 $197.29 $591.87
34
SCHEDULE OF COMPONENTSCREEK'S EDGE AT STONY POINT
LINE
NUMBERCOMPONENT NAME LOCATION
1.00 ROADS
BASIC COMPONENT INFORMATION
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
14.10 Ceiling fan Clubhouse
15.00 CASEWORK
15.01 Cabinets Clubhouse
15.02 Countertops Clubhouse
16.00 APPLIANCES
16.01 Microwave, wall mounted Clubhouse
16.02 Cooking range, w/ oven Clubhouse
16.03 Refrigerator, side by side Clubhouse
16.04 Dishwasher Clubhouse
16.05 Garbage disposal Clubhouse
17.00 ELECTRONICS
17.01 TV, flat screen Clubhouse
17.02 TV., flat wall mount bracket Clubhouse
17.03 Sound System receiver Clubhouse
17.04 Sound System speakers Clubhouse
18.00 FURNISHINGS
18.01 Blinds, horizontal Clubhouse
18.02 Window treatment, large Clubhouse
18.03 Window treatment, small Clubhouse
18.04 Side table Clubhouse
18.05 Rug Clubhouse
18.06 Lamps Clubhouse
18.07 Lamps Clubhouse
18.08 Desk Clubhouse
18.09 Cabinet, to replace green cabinet Clubhouse
18.10 Coffee table Clubhouse
18.11 End tables Clubhouse
18.12 Dining tables Clubhouse
18.13 Dining chairs Clubhouse
18.14 Fabric chairs Clubhouse
18.15 Sofa Clubhouse
18.16 Small round tables Clubhouse
18.17 Small round tables Clubhouse
18.18 Wing back chairs Clubhouse
18.19 Wall hangings Clubhouse
18.20 Misc. furniture upgrades Clubhouse
19.00 RESTROOM FIXTURES
19.01 Toilet partitions Clubhouse
19.02 ADA toilet partitions Clubhouse
19.03 Urinal screen Clubhouse
19.04 Mirror Clubhouse
19.05 Soap dispenser Clubhouse
19.06 Toilet tissue dispenser Clubhouse
19.07 Paper towel dispenser Clubhouse
LOCATION CCI 87.7 BASE CCI 87.7
ESTIMATED
USEFUL LIFE
(EUL) BEFORE
FIRST
REPLACEMENT
REPLACEMENT
INTERVAL
AFTER FIRST
REPLACEMENT
REMAINING
USEFUL
LIFE OR
YEARS PAST
DUE
NEXT YEAR
REPLACED
PERCENT OF
QUANTITY TO
BE REPLACED
UNITSQUANTITY
OR COUNTUNIT COST
REPLACEMENT
COST, PER
OCCURRENCE
LIFE CYCLEREPLACEMENT COST
40 40 31 2047 100% EA 1 $392.97 $392.97
30 30 21 2037 100% LF 22 $230.42 $5,069.24
50 50 41 2057 100% SF 28 $185.63 $5,197.64
15 15 6 2022 100% EA 1 $919.94 $919.94
15 15 6 2022 100% EA 1 $763.26 $763.26
15 15 6 2022 100% EA 1 $2,639.42 $2,639.42
15 15 6 2022 100% EA 1 $2,275.66 $2,275.66
15 15 6 2022 100% EA 1 $486.38 $486.38
10 10 1 2017 100% EA 2 $588.10 $1,176.20
10 10 1 2017 100% EA 2 $183.48 $366.96
10 10 1 2017 100% EA 1 $452.58 $452.58
10 10 1 2017 100% EA 2 $249.30 $498.60
20 20 11 2027 100% SF 180 $6.18 $1,112.40
20 20 11 2027 100% EA 2 $176.65 $353.30
20 20 11 2027 100% EA 1 $84.03 $84.03
20 20 11 2027 100% EA 2 $150.00 $300.00
10 10 11 2027 100% EA 1 $600.00 $600.00
20 20 11 2027 100% EA 3 $45.00 $135.00
20 20 21 2037 100% LS 1 $761.00 $761.00
20 20 11 2027 100% EA 1 $250.00 $250.00
20 20 21 2037 100% EA 1 $642.00 $642.00
20 20 11 2027 100% EA 1 $150.00 $150.00
20 20 11 2027 100% EA 2 $75.00 $150.00
20 20 11 2027 100% EA 2 $200.00 $400.00
20 20 11 2027 100% EA 12 $100.00 $1,200.00
10 10 11 2027 100% EA 2 $500.00 $1,000.00
10 10 11 2027 100% EA 1 $2,000.00 $2,000.00
20 20 11 2027 100% EA 1 $100.00 $100.00
20 20 21 2037 100% EA 1 $350.00 $350.00
10 10 11 2027 100% EA 2 $600.00 $1,200.00
10 10 11 2027 100% LS 1 $863.00 $863.00
10 10 11 2027 100% LS 1 $2,536.00 $2,536.00
25 25 16 2032 100% EA 1 $921.22 $921.22
25 25 16 2032 100% EA 2 $1,266.22 $2,532.44
25 25 16 2032 100% EA 1 $412.30 $412.30
25 25 16 2032 100% EA 2 $421.81 $843.62
25 25 16 2032 100% EA 4 $230.17 $920.68
25 25 16 2032 100% EA 3 $55.10 $165.30
25 25 16 2032 100% EA 2 $87.66 $175.32
35
SCHEDULE OF COMPONENTSCREEK'S EDGE AT STONY POINT
LINE
NUMBERCOMPONENT NAME LOCATION
1.00 ROADS
BASIC COMPONENT INFORMATION
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
19.08 Countertops, batrhoom sink Clubhouse
20.00 ELECTRICAL
20.01 Wiring riser system, repair allowance Garage & Clubhouse
20.02 Electrical panel Clubhouse
20.03 Electrical panel Garage
21.00 PLUMBING
21.01 Plumbing infrastructure, repair allowance Garage & Clubhouse
21.02 Water heater Clubhouse
21.03 Drinking fountain, wall mounted Clubhouse
21.04 Water heater Garage
21.05 Drinking fountain, wall mounted Garage
21.06 Toilet Clubhouse
21.07 Urinal screen Clubhouse
21.08 Toilet Garage
21.09 Bathroom sink, inset Clubhouse
21.10 Bathroom sink, wall mounted Garage
21.11 Shower stall, with ADA equipment Clubhouse
21.12 Kitchen sink Clubhouse
21.13 Mop sink Garage
21.14 Mop sink Clubhouse
22.00 HVAC
22.01 HVAC condensing unit Clubhouse
22.02 HVAC air handler Clubhouse
22.03 Heating unit Garage
23.00 MECHANICAL
23.01 Exhaust vent Garage & Clubhouse
23.02 Exhaust vent Chemical Room
23.03 Gas meter Clubhouse
23.04 Gas fireplace insert Clubhouse
24.00 BUILDING EXTERIORS
24.01 Metal roof Clubhouse
24.02 Aluminum gutter Clubhouse
24.03 Aluminum downspout Clubhouse
24.02 Metal roof Garage
24.03 Metal roof Mail Kiosk
24.04 Shingled roof, full-dimensional asphalt Phase I
24.05 Metal roof Phase I
24.06 Aluminum gutter Phase I
24.07 Aluminum downspout Phase I
24.08 Front walks & steps Phase I
24.09 Concrete driveway Phase I
24.10 Shingled roof, full-dimensional asphalt Phase II
24.11 Metal roof Phase II
24.12 Aluminum gutter Phase II
LOCATION CCI 87.7 BASE CCI 87.7
ESTIMATED
USEFUL LIFE
(EUL) BEFORE
FIRST
REPLACEMENT
REPLACEMENT
INTERVAL
AFTER FIRST
REPLACEMENT
REMAINING
USEFUL
LIFE OR
YEARS PAST
DUE
NEXT YEAR
REPLACED
PERCENT OF
QUANTITY TO
BE REPLACED
UNITSQUANTITY
OR COUNTUNIT COST
REPLACEMENT
COST, PER
OCCURRENCE
LIFE CYCLEREPLACEMENT COST
50 50 41 2057 100% SF 24 $185.63 $4,455.12
50 5 41 2057 5% SF 1950 $3.50 $341.25
50 50 41 2057 100% EA 1 $1,610.22 $1,610.22
50 50 41 2057 100% EA 1 $2,209.82 $2,209.82
30 5 21 2037 5% GSF 2350 $9.00 $1,057.50
20 20 11 2027 100% EA 1 $1,849.69 $1,849.69
30 30 21 2037 100% EA 2 $1,367.35 $2,734.70
15 15 6 2022 100% EA 1 $1,164.44 $1,164.44
30 30 21 2037 100% EA 2 $1,367.35 $2,734.70
30 30 21 2037 100% EA 3 $572.96 $1,718.88
30 30 21 2037 100% EA 1 $954.96 $954.96
30 30 21 2037 100% EA 1 $572.96 $572.96
30 30 21 2037 100% EA 4 $561.68 $2,246.72
30 30 21 2037 100% EA 1 $470.82 $470.82
30 30 21 2037 100% EA 2 $2,762.85 $5,525.70
30 30 21 2037 100% EA 1 $1,294.54 $1,294.54
30 30 21 2037 100% EA 1 $368.13 $368.13
30 30 21 2037 100% EA 1 $368.13 $368.13
15 15 6 2022 100% EA 2 $3,711.93 $7,423.86
25 25 16 2032 100% EA 2 $3,355.02 $6,710.04
15 15 6 2022 100% EA 1 $1,587.09 $1,587.09
15 15 6 2022 100% EA 3 $176.81 $530.43
15 15 6 2022 100% EA 1 $1,505.21 $1,505.21
40 40 31 2047 100% EA 1 $340.63 $340.63
25 25 16 2032 100% EA 1 $0.00 $0.00
40 40 31 2047 100% SF 2400 $8.29 $19,896.00
30 30 31 2047 100% LS 1 $500.00 $500.00
30 30 31 2047 100% LS 1 $600.00 $600.00
40 40 31 2047 100% SF 1400 $8.29 $11,606.00
40 40 31 2047 100% SF 200 $8.29 $1,658.00
30 30 21 2037 100% SQ 350 $322.79 $112,976.50
40 40 31 2047 100% SF 1440 $8.29 $11,937.60
30 30 21 2037 100% LF 1780 $8.43 $15,005.40
30 30 21 2037 100% LF 720 $6.86 $4,939.20
30 5 21 2037 5% SF 1360 $15.12 $1,028.16
30 10 21 2037 20% SF 3890 $8.32 $6,472.96
30 30 22 2038 100% SQ 175 $322.79 $56,488.25
40 40 32 2048 100% SF 720 $8.29 $5,968.80
30 30 22 2038 100% LF 890 $8.43 $7,502.70
36
SCHEDULE OF COMPONENTSCREEK'S EDGE AT STONY POINT
LINE
NUMBERCOMPONENT NAME LOCATION
1.00 ROADS
BASIC COMPONENT INFORMATION
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
24.13 Aluminum downspout Phase II
24.14 Front walks & steps Phase II
24.15 Concrete driveway Phase II
24.16 Shingled roof, full-dimensional asphalt Phase III
24.17 Metal roof Phase III
24.18 Aluminum gutter Phase III
24.19 Aluminum downspout Phase III
24.20 Front walks & steps Phase III
24.21 Concrete driveway Phase III
24.22 Shingled roof, full-dimensional asphalt Phase IV
24.23 Metal roof Phase IV
24.24 Aluminum gutter Phase IV
24.25 Aluminum downspout Phase IV
24.26 Front walks & steps Phase IV
24.27 Concrete driveway Phase IV
24.28 Elevated decking Phase IV
24.29 Elevated deck railing Phase IV
24.30 Shingled roof, full-dimensional asphalt Phase V
24.31 Metal roof Phase V
24.32 Aluminum gutter Phase V
24.33 Aluminum downspout Phase V
24.34 Front walks & steps Phase V
24.35 Concrete driveway Phase V
24.36 Elevated decking Phase V
24.37 Elevated deck railing Phase V
24.38 Shingled roof, full-dimensional asphalt Phase VI
24.39 Metal roof Phase VI
24.40 Aluminum gutter Phase VI
24.41 Aluminum downspout Phase VI
24.42 Front walks & steps Phase VI
24.43 Concrete driveway Phase VI
24.44 Snow guards All Areas
25.00 SEWER/WATER LINES
25.01 Sewer piping All Areas
25.02 Water piping All Areas
LOCATION CCI 87.7 BASE CCI 87.7
ESTIMATED
USEFUL LIFE
(EUL) BEFORE
FIRST
REPLACEMENT
REPLACEMENT
INTERVAL
AFTER FIRST
REPLACEMENT
REMAINING
USEFUL
LIFE OR
YEARS PAST
DUE
NEXT YEAR
REPLACED
PERCENT OF
QUANTITY TO
BE REPLACED
UNITSQUANTITY
OR COUNTUNIT COST
REPLACEMENT
COST, PER
OCCURRENCE
LIFE CYCLEREPLACEMENT COST
30 30 22 2038 100% LF 360 $6.86 $2,469.60
30 5 22 2038 5% SF 680 $15.12 $514.08
30 10 22 2038 20% SF 1945 $8.32 $3,236.48
30 30 26 2042 100% SQ 354 $322.79 $114,267.66
40 40 36 2052 100% SF 1858 $8.29 $15,402.82
30 30 26 2042 100% LF 1376 $8.43 $11,599.68
30 30 26 2042 100% LF 1130 $6.86 $7,751.80
30 5 26 2042 5% SF 1700 $15.12 $1,285.20
30 10 26 2042 20% SF 4860 $8.32 $8,087.04
30 30 27 2043 100% SQ 420 $322.79 $135,571.80
40 40 37 2053 100% SF 1944 $8.29 $16,115.76
30 30 27 2043 100% LF 1920 $8.43 $16,185.60
30 30 27 2043 100% LF 1240 $6.86 $8,506.40
30 5 27 2043 5% SF 2040 $15.12 $1,542.24
30 10 27 2043 20% SF 5830 $8.32 $9,701.12
25 25 22 2038 100% SF 530 $3.50 $1,855.00
20 20 17 2033 100% LF 180 $23.92 $4,305.60
30 30 28 2044 100% SQ 234 $322.79 $75,532.86
40 40 38 2054 100% SF 1246 $8.29 $10,329.34
30 30 28 2044 100% LF 861 $8.43 $7,258.23
30 30 28 2044 100% LF 690 $6.86 $4,733.40
30 5 28 2044 5% SF 1020 $15.12 $771.12
30 10 28 2044 20% SF 2915 $8.32 $4,850.56
25 25 23 2039 100% SF 530 $3.50 $1,855.00
20 20 18 2034 100% LF 180 $23.92 $4,305.60
30 30 30 2046 100% SQ 88 $322.79 $28,405.52
40 40 40 2056 100% SF 360 $8.29 $2,984.40
30 30 30 2046 100% LF 445 $8.43 $3,751.35
30 30 30 2046 100% LF 180 $6.86 $1,234.80
30 5 30 2046 5% SF 340 $15.12 $257.04
30 10 30 2046 20% SF 970 $8.32 $1,614.08
10 10 10 2026 100% LS 1 $2,500.00 $2,500.00
30 5 23 2039 5% LF 2000 $20.90 $2,090.00
30 5 23 2039 5% LF 2000 $18.43 $1,843.00
37
YEAR 1 2 3 4 5
CALENDAR YEAR 2016 2017 2018 2019 2020
PROGRAMMED EXPENDITURES, PRESENT WORTH VALUES
SCHEDULE OF REPAIRS AND REPLACEMENTS $2,500 $35,183 $0 $37,101 $0
CAPITAL IMPROVEMENT PROJECTS $0 $0 $0 $0 $0
BEGINNING YEAR BALANCE $124,675 $155,607 $156,800 $196,573 $199,292FINANCIAL ANALYSIS SUMMARY
INCOME
CONTRIBUTION TO RESERVES $33,432 $35,739 $38,205 $40,841 $43,659
LOAN DEPOSITS $0 $0 $0 $0 $0
PLUS SPECIAL ASSESSMENTS $0 $0 $0 $0 $0
PLUS OTHER FUNDS COMING DUE $0 $0 $0 $0 $0
PLUS INVESTMENT INCOME ON PRIOR YEAR'S ENDING BALANCE $0 $1,556 $1,568 $1,966 $1,993
INVESTMENT 1 $0 $0 $0 $0 $0
INVESTMENT 2 $0 $0 $0 $0 $0
TOTAL INCOME $33,432 $37,295 $39,773 $42,807 $45,652
EXPENDITURES, FUTURE VALUES
SCHEDULE OF REPAIRS AND REPLACEMENTS $2,500 $36,102 $0 $40,087 $0
CAPITAL IMPROVEMENT PROJECTS $0 $0 $0 $0 $0
FINANCIAL LOAN PAYMENT $0 $0 $0 $0 $0
OTHER DISBURSEMENTS $0 $0 $0 $0 $0
TOTAL EXPENDITURES $2,500 $36,102 $0 $40,087 $0
END OF YEAR BALANCE $155,607 $156,800 $196,573 $199,292 $244,944
MINIMUM ACCOUNT THRESHOLD
CALCULATED THRESHOLD AS A PERCENTAGE OF TOTAL 30 YEAR COSTS $90,082 $92,437 $94,853 $97,332 $99,876
FUNDING OBJECTIVE MET? YES YES YES YES YES
MINIMUM REQUIRED CASH TRANSFER $0 $0 $0 $0 $0
ESCALATION, INFLATION, EARNINGS RATES
ANNUAL CONTRIBUTION ESCALATION: N/A 6.90% 6.90% 6.90% 6.90%
ANNUAL CONSTRUCTION COST ESCALATION: N/A 2.61% 2.61% 2.61% 2.61%
ANNUAL RESERVE ACCOUNT INCOME RATE 1.00% 1.00% 1.00% 1.00% 1.00%
CASH FLOW METHODOLOGYCREEK'S EDGE AT STONY POINT
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
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YEAR
CALENDAR YEAR
PROGRAMMED EXPENDITURES, PRESENT WORTH VALUES
SCHEDULE OF REPAIRS AND REPLACEMENTS
CAPITAL IMPROVEMENT PROJECTS
BEGINNING YEAR BALANCEFINANCIAL ANALYSIS SUMMARY
INCOME
CONTRIBUTION TO RESERVES
LOAN DEPOSITS
PLUS SPECIAL ASSESSMENTS
PLUS OTHER FUNDS COMING DUE
PLUS INVESTMENT INCOME ON PRIOR YEAR'S ENDING BALANCE
INVESTMENT 1
INVESTMENT 2
TOTAL INCOME
EXPENDITURES, FUTURE VALUES
SCHEDULE OF REPAIRS AND REPLACEMENTS
CAPITAL IMPROVEMENT PROJECTS
FINANCIAL LOAN PAYMENT
OTHER DISBURSEMENTS
TOTAL EXPENDITURES
END OF YEAR BALANCE
MINIMUM ACCOUNT THRESHOLD
CALCULATED THRESHOLD AS A PERCENTAGE OF TOTAL 30 YEAR COSTS
FUNDING OBJECTIVE MET?
MINIMUM REQUIRED CASH TRANSFER
ESCALATION, INFLATION, EARNINGS RATES
ANNUAL CONTRIBUTION ESCALATION:
ANNUAL CONSTRUCTION COST ESCALATION:
ANNUAL RESERVE ACCOUNT INCOME RATE
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
6 7 8 9 10
2021 2022 2023 2024 2025
$0 $38,952 $0 $74,793 $20,820
$0 $0 $0 $0 $0
$244,944 $294,065 $301,423 $357,771 $326,423
$46,671 $49,892 $53,334 $57,014 $60,948
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$2,449 $2,941 $3,014 $3,578 $3,264
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$49,121 $52,832 $56,348 $60,592 $64,213
$0 $45,474 $0 $91,940 $26,262
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $45,474 $0 $91,940 $26,262
$294,065 $301,423 $357,771 $326,423 $364,373
$102,487 $105,166 $107,914 $110,735 $113,629
YES YES YES YES YES
$0 $0 $0 $0 $0
6.90% 6.90% 6.90% 6.90% 6.90%
2.61% 2.61% 2.61% 2.61% 2.61%
1.00% 1.00% 1.00% 1.00% 1.00%
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YEAR
CALENDAR YEAR
PROGRAMMED EXPENDITURES, PRESENT WORTH VALUES
SCHEDULE OF REPAIRS AND REPLACEMENTS
CAPITAL IMPROVEMENT PROJECTS
BEGINNING YEAR BALANCEFINANCIAL ANALYSIS SUMMARY
INCOME
CONTRIBUTION TO RESERVES
LOAN DEPOSITS
PLUS SPECIAL ASSESSMENTS
PLUS OTHER FUNDS COMING DUE
PLUS INVESTMENT INCOME ON PRIOR YEAR'S ENDING BALANCE
INVESTMENT 1
INVESTMENT 2
TOTAL INCOME
EXPENDITURES, FUTURE VALUES
SCHEDULE OF REPAIRS AND REPLACEMENTS
CAPITAL IMPROVEMENT PROJECTS
FINANCIAL LOAN PAYMENT
OTHER DISBURSEMENTS
TOTAL EXPENDITURES
END OF YEAR BALANCE
MINIMUM ACCOUNT THRESHOLD
CALCULATED THRESHOLD AS A PERCENTAGE OF TOTAL 30 YEAR COSTS
FUNDING OBJECTIVE MET?
MINIMUM REQUIRED CASH TRANSFER
ESCALATION, INFLATION, EARNINGS RATES
ANNUAL CONTRIBUTION ESCALATION:
ANNUAL CONSTRUCTION COST ESCALATION:
ANNUAL RESERVE ACCOUNT INCOME RATE
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
11 12 13 14 15
2026 2027 2028 2029 2030
$2,500 $46,560 $0 $50,580 $69,723
$0 $0 $0 $0 $0
$364,373 $429,935 $442,043 $520,919 $534,982
$65,154 $69,649 $74,455 $79,593 $85,084
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$3,644 $4,299 $4,420 $5,209 $5,350
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$68,797 $73,949 $78,876 $84,802 $90,434
$3,236 $61,841 $0 $70,738 $100,058
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$3,236 $61,841 $0 $70,738 $100,058
$429,935 $442,043 $520,919 $534,982 $525,358
$116,599 $119,647 $122,774 $125,983 $129,276
YES YES YES YES YES
$0 $0 $0 $0 $0
6.90% 6.90% 6.90% 6.90% 6.90%
2.61% 2.61% 2.61% 2.61% 2.61%
1.00% 1.00% 1.00% 1.00% 1.00%
40
YEAR
CALENDAR YEAR
PROGRAMMED EXPENDITURES, PRESENT WORTH VALUES
SCHEDULE OF REPAIRS AND REPLACEMENTS
CAPITAL IMPROVEMENT PROJECTS
BEGINNING YEAR BALANCEFINANCIAL ANALYSIS SUMMARY
INCOME
CONTRIBUTION TO RESERVES
LOAN DEPOSITS
PLUS SPECIAL ASSESSMENTS
PLUS OTHER FUNDS COMING DUE
PLUS INVESTMENT INCOME ON PRIOR YEAR'S ENDING BALANCE
INVESTMENT 1
INVESTMENT 2
TOTAL INCOME
EXPENDITURES, FUTURE VALUES
SCHEDULE OF REPAIRS AND REPLACEMENTS
CAPITAL IMPROVEMENT PROJECTS
FINANCIAL LOAN PAYMENT
OTHER DISBURSEMENTS
TOTAL EXPENDITURES
END OF YEAR BALANCE
MINIMUM ACCOUNT THRESHOLD
CALCULATED THRESHOLD AS A PERCENTAGE OF TOTAL 30 YEAR COSTS
FUNDING OBJECTIVE MET?
MINIMUM REQUIRED CASH TRANSFER
ESCALATION, INFLATION, EARNINGS RATES
ANNUAL CONTRIBUTION ESCALATION:
ANNUAL CONSTRUCTION COST ESCALATION:
ANNUAL RESERVE ACCOUNT INCOME RATE
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
16 17 18 19 20
2031 2032 2033 2034 2035
$0 $14,798 $39,720 $199,363 $20,820
$0 $0 $0 $0 $0
$653,412
$525,358 $621,567 $702,653 $752,031 $553,454
$90,955 $97,231 $103,940 $111,112 $118,779
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$5,254 $6,216 $7,027 $7,520 $5,535
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$96,209 $103,447 $110,967 $118,632 $124,313
$0 $22,361 $61,589 $317,209 $33,993
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $22,361 $61,589 $317,209 $33,993
$0
$621,567 $702,653 $752,031 $553,454 $643,774
$132,655 $136,123 $139,680 $143,331 $147,078
YES YES YES YES YES
$0 $0 $0 $0 $0
6.90% 6.90% 6.90% 6.90% 6.90%
2.61% 2.61% 2.61% 2.61% 2.61%
1.00% 1.00% 1.00% 1.00% 1.00%
41
YEAR
CALENDAR YEAR
PROGRAMMED EXPENDITURES, PRESENT WORTH VALUES
SCHEDULE OF REPAIRS AND REPLACEMENTS
CAPITAL IMPROVEMENT PROJECTS
BEGINNING YEAR BALANCEFINANCIAL ANALYSIS SUMMARY
INCOME
CONTRIBUTION TO RESERVES
LOAN DEPOSITS
PLUS SPECIAL ASSESSMENTS
PLUS OTHER FUNDS COMING DUE
PLUS INVESTMENT INCOME ON PRIOR YEAR'S ENDING BALANCE
INVESTMENT 1
INVESTMENT 2
TOTAL INCOME
EXPENDITURES, FUTURE VALUES
SCHEDULE OF REPAIRS AND REPLACEMENTS
CAPITAL IMPROVEMENT PROJECTS
FINANCIAL LOAN PAYMENT
OTHER DISBURSEMENTS
TOTAL EXPENDITURES
END OF YEAR BALANCE
MINIMUM ACCOUNT THRESHOLD
CALCULATED THRESHOLD AS A PERCENTAGE OF TOTAL 30 YEAR COSTS
FUNDING OBJECTIVE MET?
MINIMUM REQUIRED CASH TRANSFER
ESCALATION, INFLATION, EARNINGS RATES
ANNUAL CONTRIBUTION ESCALATION:
ANNUAL CONSTRUCTION COST ESCALATION:
ANNUAL RESERVE ACCOUNT INCOME RATE
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
21 22 23 24 25
2036 2037 2038 2039 2040
$2,500 $282,796 $72,066 $228,604 $0
$0 $0 $0 $0 $0
$643,774 $772,998 $430,290 $452,562 $198,380
$126,974 $135,736 $145,101 $155,113 $165,816
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$6,438 $7,730 $4,303 $4,526 $1,984
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$133,412 $143,466 $149,404 $159,639 $167,800
$4,188 $486,173 $127,132 $413,822 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$4,188 $486,173 $127,132 $413,822 $0
$772,998 $430,290 $452,562 $198,380 $366,180
$150,922 $154,867 $158,915 $163,068 $167,331
YES YES YES YES YES
$0 $0 $0 $0 $0
6.90% 6.90% 6.90% 6.90% 6.90%
2.61% 2.61% 2.61% 2.61% 2.61%
1.00% 1.00% 1.00% 1.00% 1.00%
42
YEAR
CALENDAR YEAR
PROGRAMMED EXPENDITURES, PRESENT WORTH VALUES
SCHEDULE OF REPAIRS AND REPLACEMENTS
CAPITAL IMPROVEMENT PROJECTS
BEGINNING YEAR BALANCEFINANCIAL ANALYSIS SUMMARY
INCOME
CONTRIBUTION TO RESERVES
LOAN DEPOSITS
PLUS SPECIAL ASSESSMENTS
PLUS OTHER FUNDS COMING DUE
PLUS INVESTMENT INCOME ON PRIOR YEAR'S ENDING BALANCE
INVESTMENT 1
INVESTMENT 2
TOTAL INCOME
EXPENDITURES, FUTURE VALUES
SCHEDULE OF REPAIRS AND REPLACEMENTS
CAPITAL IMPROVEMENT PROJECTS
FINANCIAL LOAN PAYMENT
OTHER DISBURSEMENTS
TOTAL EXPENDITURES
END OF YEAR BALANCE
MINIMUM ACCOUNT THRESHOLD
CALCULATED THRESHOLD AS A PERCENTAGE OF TOTAL 30 YEAR COSTS
FUNDING OBJECTIVE MET?
MINIMUM REQUIRED CASH TRANSFER
ESCALATION, INFLATION, EARNINGS RATES
ANNUAL CONTRIBUTION ESCALATION:
ANNUAL CONSTRUCTION COST ESCALATION:
ANNUAL RESERVE ACCOUNT INCOME RATE
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
26 27 28 29 30
2041 2042 2043 2044 2045
$5,641 $145,077 $172,021 $148,987 $90,543
$0 $0 $0 $0 $0
$366,180 $536,347 $447,443 $309,229 $222,026
$177,258 $189,488 $202,563 $216,540 $231,481
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$3,662 $5,363 $4,474 $3,092 $2,220
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$180,919 $194,852 $207,038 $219,632 $233,702
$10,753 $283,756 $345,251 $306,836 $191,345
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$0 $0 $0 $0 $0
$10,753 $283,756 $345,251 $306,836 $191,345
$536,347 $447,443 $309,229 $222,026 $264,382
$171,704 $176,192 $180,797 $185,523 $190,372
YES YES YES YES YES
$0 $0 $0 $0 $0
6.90% 6.90% 6.90% 6.90% 6.90%
2.61% 2.61% 2.61% 2.61% 2.61%
1.00% 1.00% 1.00% 1.00% 1.00%
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Copyright © 2012 Design Management Associates, Inc.
HOW YOUR RESERVE STUDY WORKS
PURPOSE Your community contains infrastructure and amenities (capital assets) that are owned in common by all property or unit owners. Your owners association is responsible for replacing these assets when they wear out or become unusable. A capital reserve account is a savings account designed specifically to accumulate funds for eventual replacement of your commonly owned assets when they reach the end of their useful lives. Funds in this dedicated account can be accumulated over a period of many years without being taxed, however they can only be used for the repair or replacement of capital assets. They cannot, for example, be returned to the operating account without the Association paying a penalty. Each capital asset is referred to in this study as a component of your Capital Reserves. All components eventually need to be replaced in full or in part, although they may normally function for 10, 20, 30 years, or longer. Regular operating and maintenance budgets do not cover the funding required for these needs. This Capital Reserve Study looks at various ways to fund your Association's reserve accounts in order to adequately fund your reserves. A FUNDING PLAN - NOT A MAINTENANCE SCHEDULE This plan is a general predictor for replacement of components, however it is not a required maintenance or replacement schedule. Specific decisions about replacement of each component should be made by the Board of Directors based on this information and on a periodic assessment of the actual condition of each component. HOW MANY RESERVE ACCOUNTS? It is possible to maintain separate accounts for individual components or groups of components, and some communities have requirements in their Declarations for dedicated reserve accounts, such as for private roads. Many Certified Public Accountants recommend that the number of reserve accounts be kept to a minimum. We normally recommend that you keep just one combined (pooled) account. Having one account gives you the spending
flexibility to respond to an unexpected expense for one component without having to transfer funds from other dedicated accounts. Unless otherwise noted in our funding recommendation, our study will develop one account with one annual deposit amount that will meet the replacement needs of all components. PHYSICAL ANALYSIS – SCHEDULE OF COMPONENTS The Schedule of Components identifies each component to be included in the capital reserve account(s) and provides quantity information, expected useful life and remaining useful life of each, We also assess the condition of each component and recommended any maintenance or other corrective action that should be taken at this time. Please review our separate flyer titled “An Explanation of the Physical Property Analysis” for an explanation of the Schedule of Components. FINANCIAL ANALYSIS We perform two analyses in this study. The first, called the Historic Funding Analysis assesses the relative adequacy of your reserve account to fund the reserves at this point in time. The second is called the Cash Flow Analysis, and it looks at alternative methods of adequately funding your reserves from this point forward. Historic Funding Analysis Summary (Component Method) In the report we perform a historic funding analysis that looks at both the current funding level and the current fund balance or your reserve account compared to the amount of annual funding that would have to have been set aside each year for each component to fund it at 100 percent of its replacement value. This is calculated by dividing the original cost of the component by the number of years in its estimated useful life. This is also commonly referred to as “component method funding” and represents the annual straight line depreciation value of each component.
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Copyright © 2012 Design Management Associates, Inc.
By multiplying the annual depreciation value of each component by its present age, we arrive at the amount of money for each that should be in the capital reserve account as of the study date. The total amount for all components added together is the target “fully funded” level of the reserve account. We divide the actual reserve account balance by this amount, yielding the percentage that the account is fully funded. A 100 percent funding level means that the account is fully funded. A value less than 100 percent means that there may be a deficiency in the capital reserve account. In our experience, many communities are not fully funded from their beginning date, and simple conversion to full funding using this method of analysis will often place the entire cost burden of a “correction” on the present owners. The full funding - component method must be recomputed every year. Gradually, the annual funding amount will be reduced over time as the Association “catches up”. It must be noted that this does not necessarily mean that the current annual contribution amount is insufficient to fund the reserve account from this point forward. The Association over the course of the years may have adjusted the annual contribution amount to where it is now adequate to fund the reserve account going forward if all funds are “pooled” into a single account. Financial Analysis Cash Flow Summary This report page shows the results of our Cash Flow analysis. In this analysis, each anticipated component replacement is plotted on a schedule over time. This schedule then calculates the annual total reserve account deposits required to fund all projected component expenses and maintain a minimum account balance over the entire period. Using this method of analysis requires that we set several parameters first. These include: Actual Reserve Balance at the End of the Prior Fiscal Year This is the dollar amount provided on your association’s year-end financial statement. The number that we enter becomes the beginning balance of the reserve account in year one (1) of our study. If you do not have a reserve account, we will enter $0.00 for this balance. Anticipated Annual Inflation Rate
This is based on historical inflation data provided by R.S. Means Company based on their recorded historical cost indices. From these, we will recommend an inflation rate, expressed as a percentage (%), to use in the study. Annual Income Rate on Reserve Account We base this on your community’s current and/or anticipated returns on investments from savings accounts, Certificates of Deposit, Money Market accounts or other fund investments. If funds are deposited in several different accounts, we will take an average of the earnings rate on all of the accounts. This number, expressed as a percentage (%) is input into the study. Account Threshold The goal of the Cash Flow funding plan is to keep your account above a minimum balance over the life of the study while insuring that all components are fully funded when they are scheduled to be replaced. We can set that minimum balance at zero ($0.00), which is called “baseline” funding. We can also set a minimum account balance, or “threshold”, at some amount above zero, in order to provide a buffer for the variations in actual expenditures that will inevitably occur over the life of the study. We typically use a percentage of your total expected reserve expenditures over a 20-year period to establish this amount. The amount is input into the study as a bottom limit for the cash flow in the account. This amount will increase every year at the rate of inflation. Annual Contribution Escalation As inflation decreases the value of the dollar over time, it is necessary to introduce an escalation factor so that the contribution grows in relation to the growth in actual costs over time. If we did not do this - if we kept the contribution constant - owners today would have to contribute a much larger amount in order to offset the declining value of the same contributions made in the future. The escalation rate provides parity for present and future owners. In communities that are significantly underfunded, it may be necessary to use an escalation factor that is greater than the inflation rate to gradually increase your contributions to an acceptable level. The annual contribution escalation is expressed as a percentage (%) and is initially input into the study to match the rate of inflation. We
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Copyright © 2012 Design Management Associates, Inc.
can adjust this rate as a constant over the entire study period, or manually adjust it from year to year, to help us design the appropriate funding plan. The 30 Year Cash Flow Study Having identified the above parameters, we conduct our cash flow study. This study can balance out contributions over the next 30 years, to distribute the responsibilities for reserve funding between present and future owners in various ways. It can also incorporate funding tools such as special assessments and bank loans into the overall calculations. Our spreadsheets are designed to allow us to conduct this analysis dynamically in a physical or online meeting format so that community leaders and management can have test alternate funding plans and decide on the plan best suited to the needs and priorities of the community. The spreadsheets that show the mechanics of the plan are provided in the report. In the report we provide a list of the expected reserve expenditures by component for each year of the study. Note: all costs shown in these schedules are presented in current dollars as of the report date. The total values of these annual expenditures are revised to reflect the input inflation rate, in the cash flow spreadsheets. The results of this study are summarized in a five year funding schedule and a 30 year funding plan graph on the page titled “Financial Analysis – Recommended Funding”. These results comprise our recommended funding plan for your community as of the date of the study. The financial aspects of this plan can be updated annually upon request, and we recommend an update of the full study, including the physical analysis, every 3 to 5 years. If you have additional questions about DMA reserve studies, please contact us at our office at 804-644-6404 or by e-mail at [email protected]. DMAReserves Design Management Associates, Inc. 2119 East Main Street, Suite 102 Richmond, Va. 23223 804-644-6404 On the web: dma-va.com
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Interactive Reserve Analysis
Copyright © 2012 Design Management Associates, Inc.
AN EXPLANATION OF THE PHYSICAL PROPERTY ANALYSIS THE SCHEDULE OF COMPONENTS The physical analysis of the community is the definition of reserve components, observation of the condition of each component of component group, establishment of the expected useful life, remaining useful life, quantities or measurement of each, projected level of replacement (expressed as a percent of the component), and projected replacement cost per replacement occurrence. All of this information is contained in the Schedule of Components. RESERVE COMPONENTS DEFINED Components may include all types of property improvements which are owned by the owners Association, or for which the Association is required by the Declaration to provide maintenance. Examples would include any private roads, parking lots, sidewalks, paved trails, lakes, dams, swimming pools, tennis courts, playgrounds, clubhouses, etc. that make up the common area or shared amenities of the community. Other shared assets may include clubhouse or pool furniture, maintenance equipment and vehicles, or other miscellaneous assets like pumps, motors, generators, etc. Components may also include limited common elements of individual homes or lots, such as driveways, patios, decks, siding and roofing. OBSERVATIONS AND ASSESSMENT OF COMPONENT CONDITION The observations and opinions expressed in this report are based on our general professional knowledge of construction and our knowledge of the typical replacement experience of many communities and other entities with the same component types. Our projections are not architectural or engineering recommendations for specific projects. The Board of Directors should seek professional or industry assistance for each specific replacement project, based on the conditions in existence at the time of replacement and as the need for replacement or repair becomes imminent.
For the purposes of evaluation, the following definitions apply to terms describing the condition of components: Excellent: New or like-new condition – no specific maintenance is required at this time. Good: Physically and visually sound and complete – corrective or preventive maintenance is recommended to maintain condition. Fair: Serviceable but needs some repair or significant maintenance. Poor: Major repair, restoration or replacement is indicated. In addition to the above assessment terminology, we will add narrative observations about problems observed, recommended maintenance or corrective work that should be undertaken at this time or in the near future. Visual information on components is provided in a Companion Folder to this report. It contains photos and/or video documentation of our field observations. COMPONENT USEFUL LIFE Several columns in the Schedule of Components provide a picture of the component useful life, including: Start Year: This column identifies either the factual year or our estimate of the year that each component was placed in service (built, installed, replaced, etc.). Expected Useful Life: This is the expected working life of the component in years. The expected useful life is based on the actuarial or industry standard life, combined with our observation of the condition and use of the component in this setting. Our EUL for a component in one setting may be different for the same or similar component in another setting.
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Interactive Reserve Analysis
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Expected Replacement Year: This number is computed by adding the expected useful life to the Start Year. Remaining Useful Life: This number is computed by subtracting the Study Year from the Expected Replacement Year. In some cases where a community is still under development many components have been little used at the time of this study and thus could be in nearly new condition in spite of the age of the component. This might include interior finishes, fixtures, furniture and some appliances. Refrigerators, ice makers, water heaters and HVAC equipment that must run continuously would not necessarily be included in this group. The useful life of most of the exterior components is affected by weather and forces of nature rather than actual use. Examples of this would be roofing, siding, etc. However, the useful life of such items as asphalt pavement is affected by weather, forces of nature and usage. These conditions can be dealt with by assigning later in-service dates for those components that have been little used, have not been in operation and have not been subjected to weather and forces of nature. Another significantly important factor in the useful life of a component is the routine maintenance and care for that component. An Association’s willingness to care for and maintain the components that can be cared for and maintained will contribute to a significant increase in the useful life of a component. Of course some components simply offer little opportunity for any special care or maintenance. Finally, the useful life of a component is often dependent upon the aesthetic value that an Association places on a component. An Association might feel that worn or damaged components that are still functional should not be replaced. In some cases, Associations well simply decide to abandon, demolish or remove a component from use. COMPONENT QUANTITIES AND MEASUREMENT
Two columns in the Schedule of Components provide information on the quantity or measurement of each component. These are: Estimated Quantity: This is the amount, size, number or extent of each component based on a unit of measure. Unit: The units of measure used in this report are typically as follows:
cy = Cubic Yard ea = Each lf = Linear Foot ls = Lump Sum sf = Square Feet sq = Square (100 square feet) sy = Square Yard zone = Irrigation Zone
Depending on the level of study as defined by the Community Association Institute National Standards and set forth in the Agreement, a site visit and visual assessment of the components may or may not have been required. If a site visit was included the components are documented with a photo of the component or of a typical component or group of components where there are a large number of repetitive component elements. Quantities for each component were developed by on-site measurements, measurements of scaled engineering and architectural drawings when available, measurements of scaled photos or measurements of satellite mapping. In the case of on-site measurements of building envelope components (i.e. roofs, siding, trim, doors, windows, gutters, etc.) quantities were arrived at by measuring a single model or a single unit of similar character and multiplying those quantities by the number of similar units. This methodology has resulted in very accurate results as far as quantities are concerned for the reserve study budgeting. If this study is an update of a previous study performed by DMA or another consultant, the quantities used are as determined in that study, unless otherwise noted. In many cases where a recent
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Interactive Reserve Analysis
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historic estimate or bid exists the bid amount is used as a “lump sum” in lieu of a unit quantity estimate. REPLACEMENT COST Three columns in the Schedule of Components define the expected replacement cost of each component: Unit Cost: This is our estimate of the replacement cost per unit of each component. Percent Replaced: Some components will require partial replacement over time, but will never require 100% replacement at the same time. To take this into account, we include a column in the schedule which adjusts the replacement cost by the percentage expected to be replaced. Replacement Cost Per Occurrence: This number is derived from multiplying the estimated quantity multiplied by the unit cost multiplied by the percent replaced. At the bottom of the schedule the replacement costs per occurrence for all of the components are totaled. DMA uses three sources of costing for components in our studies. Our standard source for computing component replacement costs is from “Building Construction Cost Data” and “Facility Maintenance and Repair Cost Data”, both published by R. S. Means Company, a division of Reed Construction Data. These are updated annually and indexed (weighted) by geographic area. Our second source is actual recent replacement costs for specific components provided by the association from your General Ledger or from actual contracts or invoices. Our third source is from local contractors and suppliers, and from manufacturers of specific products.
EXCLUDED COMPONENTS Some improvements and assets related to the common areas are not included as capital replacement components. Components that you do not see in this report are generally related to one of the categories below or are not owned by the association: Permanent Improvements This group includes components that if properly maintained will have a useful life equal to the property as a whole. The end of the useful life of the property would occur when it would be necessary that all of the infrastructure would need to be demolished and cleared or the area and infrastructure completely evacuated and reconditioned to return the property to a safe and useful state. Masonry, Stone, Concrete Generally, masonry, stone and concrete building cladding and flatwork would be considered to have an unlimited useful life. However, repairs such as mortar tuck pointing, patching and replacing sections of broken or damaged masonry, stone and concrete is a reality and a component line item for this is often included in the reserve funding study. Unit or Home Owner Modifications On occasion unit or home owners will modify components that are considered common elements and the responsibility of the Association. These cost of these modifications should not be included as part of the capital reserves. Incidental or Maintenance Items Some components are small enough, or may require repair or replacement on a recurring short-term basis, that the association may elect to fund these entirely from the operating account as annual maintenance items.
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Tax Exclusions, Minor Items and Capital Improvements The interest earned on the account balance containing savings for certain components may not qualify for tax exemption under IRS rulings for Associations filing Form 1120 or 1120H. It is incumbent upon the Association to determine the tax implications of comingling exempt capital expenditure funds from excluded or nonexempt designated funds in their bank and investment accounts. State statutory requirements may prohibit comingling of funds set aside for some items. The Association should consult their attorney or accountant on this matter. Some of these items include:
• Painting, wall coverings and other cosmetic work. • Landscape Improvements and replacement of any
landscaping (trees, shrubbery, etc.). • Irrigation systems generally need continual maintenance.
Broken heads and pipes, and damaged controller systems need to be replaced immediately upon failure. Replacement costs are generally below the threshold for reserve funding, and longevity of system components varies widely. We generally recommend that this system be handled within your annual operating and maintenance budget. However, we believe that the irrigation well pump systems and irrigation controllers should be included as capital reserve components.
• Asphalt pavement seal coating, painting, wall coverings and other activities that might be considered cosmetic work.
• Cleaning and power washing activities. • Minor or low value exclusions. Generally, in the past,
Associations have excluded component repairs or replacements with a value of less than a $1,000 and less than a 3 year life cycle. This has been done as a matter of convenience and ease of administration of the reserve fund.
• Capital improvements would include development or purchase of a new component to be placed in service for the first time. After the component has been placed in service
the money set aside for repair and replacement can then be included in the capital reserve component funding program accounts.
If you have additional questions about DMA reserve studies, please contact us at our office at 804-644-6404 or by e-mail at [email protected].
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HISTORIC FUNDING ANALYSIS (a.k.a. COMPONENT METHOD or FULL FUNDING METHOD) The Historic Funding Analysis (also known as the Component Method) provides a picture of the results of the historic funding contributions made by the Owner’s Association over the years since the first component was placed in service. The Analysis shows the adequacy of the Reserve Account to fully fund the components at this point in time. This does not necessarily mean that the current contribution amount is insufficient to fund the components from this point forward. The fairness theory of funding requires that all owners whether recent or long term owners should pay their fair share for the replacement and repair of their capital assets. The theory is based on the premise that the owners have enjoyed the use of assets for the period of time that they have lived in the community and therefore should have contributed their fair share in proportion to the time that they have lived in the community. The closer the Association is to the 100 percent funding level the better off it is because this indicates that the owners have been paying their fair share during the previous years. Any percentage below the 100 percent funding level indicates that the owners have not been paying their fair share during the previous years. Any percentage over the 100 percent funding level indicates that the owners have been paying more than their fair share during the previous years. The primary "drawbacks" to the Historic Funding analysis are:
1. It must be conducted every year. 2. The annual funding levels can go up or down in any
succeeding year. 3. It almost always results in an initial higher contribution rate
then the "Cash Flow Method". 4. It almost always results in "over funding" in future years. 5. Eliminates the benefit of the use the "pool" of funds available
over time because the allocations are fixed to each component.
The only real benefits to the Historic Funding (a.k.a. Component Method or Full Funding Method) analysis are that:
1. It is easy to understand and compute. 2. It works well enough for Associations with a very few assets.
Generally speaking, all of the on-line software versions offered to the general public for creating a reserve study are based on this method. If you have additional questions about DMA reserve studies, please contact us at our office at 804-644-6404 or by e-mail at [email protected].
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NATIONAL STANDARDS
The following has been summarized from the National Reserve Study Standards as set forth by the Community Association Institute (CAI).
General Information Reserve Study A Reserve Study is made up of two parts, 1) the information about the physical status and repair/replacement cost of the major common area components the association is obligated to maintain (Physical Analysis), and 2) the evaluation and analysis of the association’s Reserve balance, income, and expenses (Financial Analysis). The Physical Analysis is comprised of the Component Inventory, Condition Assessment, and Life and Valuation Estimates. The Component Inventory should be relatively “stable” from year to year, while the Condition Assessment and Life and Valuation Estimates will necessarily change from year to year. The Financial Analysis is made up of a finding of the client’s current Reserve Fund Status (measured in cash or as Percent Funded) and a recommendation for an appropriate Reserve contribution rate (Funding Plan). Physical Analysis
• Component Inventory
• Condition Assessment
• Life and Valuation Estimates
Financial Analysis
• Fund Status
• Funding Plan
Levels of Service The following three categories describe the various types of Reserve Studies, from exhaustive to minimal. I. Full: A Reserve Study in which the following five Reserve Study tasks are performed:
• Component Inventory
• Condition Assessment (based upon on-site visual
observations)
• Life and Valuation Estimates
• Fund Status
• Funding Plan
II. Update, With-Site-Visit/On-Site Review: A Reserve Study update in which the following five Reserve Study tasks are performed:
• Component Inventory (verification only, not quantification)
• Condition Assessment (based on on-site visual
observations)
• Life and Valuation Estimates
• Fund Status
• Funding Plan
III. Update, No-Site-Visit/Off Site Review: A Reserve Study update with no on-site visual observations in which the following three Reserve Study tasks are performed:
• Life and Valuation Estimates
• Fund Status
• Funding Plan
For more information go to www.caionline.org or contact:
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Community Associations Institute 225 Reinekers Lane, Suite 300 Alexandria, Virginia 22314 Phone (888) 224-4321 Fax (703) 684-1581 If you have additional questions about DMA reserve studies, please contact us at our office at 804-644-6404 or by e-mail at [email protected].
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DMA’S WORKING SESSION The “working session” is intended as a means for us to gather additional information that was unknown to us. It is also designed to educate the Board, familiarize them with their responsibilities, explore reasonable funding plans and make any revisions that the Board deems necessary. However, it is a misconception that we will allow the Board to rewrite our report. Our credentials, qualifications and experience establish us as the professionals in this matter and we have to limit changes to only those that meet our criteria and the published standards that we subscribe to. The software program that you are about to view is formatted in Microsoft Excel but contains proprietary programming and program coding that is not available for distribution to outside parties. Copies will be made available in Adobe's Portable Document Format and in program limited versions of Microsoft Excel for the client's use in conjunction with this project and this project only. If you have additional questions about DMA reserve studies, please contact us at our office at 804-644-6404 or by e-mail at [email protected].
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ON-GOING MAINTENANCE SERVICES FOR DMA CAPITAL RESERVE WORKING PLANS DMA offers several maintenance and updating services for your Capital Reserve Working Plan. INITIAL PLAN CHANGES Within 90 days after delivery of the post-work session reserve study to you, we will make any requested corrections or revisions to the plan and resend the spreadsheets to you at no additional charge.
PERIODIC REVIEWS At any time after delivery of your Capital Reserve Working Plan, DMA can review it to address any of the issues below:
• Major projects, unexpected expenditures • Actual bids or contracts that vary in price from the study estimate • Addition of new components / deletion of components from reserve
account • Deferral or advancement of replacement projects from estimated dates
in the study • Material changes in your community’s financial position • Changes or updates to the projected inflation rate or interest
percentage earned on funds • Annual review of the study by the Board or Management for next
year’s budget
We will make any requested revisions to the plan for an hourly charge of $150.00 (One Hundred and Fifty Dollars), and resend the spreadsheets to you. We also have DMA’s file share site where we can upload the schedule of components and you can make proposed changes to the schedule yourself and upload it back to the site. We can then update the study from that information. Typically, the time involved in these updates is
one to two hours. On-line work sessions can be held also, at the same hourly rate. The maximum hourly cost for an annual update will not exceed the cost for a Level III study defined below. Our hourly fee for On-Going Working Plan Maintenance is charged in 30 minute increments. LEVEL II RESERVE STUDY UPDATE (with site visit) At any time after completion of a DMA prepared Level I or Level II capital reserve study we can perform a complete Level II Update. This includes revisiting your property and re-evaluating all components. We then re-price all reserve components, revise inflation and interest rates, update beginning year to current year, and include any changes in your reserve account status and status of components, actual replacement dates and costs, as provided by you. This service includes one on-line work session and one follow-up session. This service is priced by proposal only. Please visit our website to make a request for a proposal. We recommend that a Level II study be performed at least every 3 to 5 years. LEVEL III RESERVE STUDY FINANCIAL UPDATE (without site visit) At any time up to four years after completion of a DMA prepared Level I or Level II capital reserve study, we offer a reserve study financial update which will include re-pricing all reserve components, revisions to inflation and interest rates, update beginning year to current year, and include any changes in your reserve account status and status of components, actual replacement dates and costs, as provided by you. This service includes one on-line work session and one follow-up session if necessary.
If you have additional questions about DMA reserve studies, please contact us at our office at 804-644-6404 or by e-mail at [email protected].
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