Outdoor Resort Palm Springs
Cathedral City, CA
RESERVE STUDY Update "With-Site-Visit"
Report #: 6510-0 Beginning: July 1, 2022 Expires: June 30, 2023
July 29, 2022
A R Welcome to your Reserve Study! Reserve Study is a valuable tool to help you budget responsibly for your property. This report contains all the information you need to avoid surprise expenses, make informed decisions, save money, and protect property values. egardless of the property type, it's a fact of life that the very moment construction is completed, every major building component begins a predictable process of physical deterioration. The operative word is " predictable" because planning for the inevitable is what a Reserve Study by Association Reserves is all about!
In this Report, you will find three key results:
Component List Unique to each property, the Component List serves as the foundation of the Reserve Study and details the scope and schedule of all necessary repairs & replacements. Reserve Fund Strength A calculation that measures how well the Reserve Fund has kept pace with the property's physical deterioration. Reserve Funding Plan A multi-year funding plan based on current Reserve Fund strength that allows for component repairs and replacements to be completed in a timely manner, with an emphasis on fairness and avoiding "catch-up" funding. Questions? Please contact your Project Manager directly.
www.reservestudy.com
Table of Contents
Executive Summary
5
Executive Summary (Component List)
6
Introduction, Objectives, and Methodology
19 20 20 20 21 21 22 23 24
Which Physical Assets are Funded by Reserves?
How do we establish Useful Life and Remaining Useful Life estimates? How do we establish Current Repair/Replacement Cost Estimates?
How much Reserves are enough? How much should we contribute?
What is our Recommended Funding Goal?
Site Inspection Notes Projected Expenses
Annual Reserve Expenses Graph
24
Reserve Fund Status & Recommended Funding Plan
25 25 26
Annual Reserve Funding Graph
30-Yr Cash Flow Graph
Percent Funded Graph
26
Table Descriptions
27 28 29 40 51 62 73
Budget Summary
Reserve Component List Detail
Fully Funded Balance
Component Significance
Accounting & Tax Summary
30-Year Reserve Plan Summary 30-Year Income/Expense Detail
74
Accuracy, Limitations, and Disclosures
122 123 124 125 138 145 156
Terms and Definitions
Component Details
General Common Area
Asphalt & Concrete
Admin Building
La Palma: Clubhouse La Palma: Pool & Spa
197
La Palma: Tennis
211
El Saguaro: Clubhouse El Saguaro: Pool & Spa
216 254 269 274 278 284
El Saguaro: Pickleball
Laundry
Maintenance
Vehicles
Association Reserves, #6510-0
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Carts
286 297 321 337 352 367 382 397
Golf
Satellite A Satellite B Satellite C Satellite D Satellite E Satellite F
Association Reserves, #6510-0
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Reserve Study Executive Summary
With-Site-Visit
Outdoor Resort Palm Springs
Report #: 6510-0 # of Units: 1,213
Cathedral City, CA
Level of Service: Update "With-Site-Visit"
July 1, 2022 through June 30, 2023
Findings & Recommendations
as of July 1, 2022
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,235,542 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $7,408,116 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,615 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57.2 % . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $91,594 Projected Starting Reserve Balance Fully Funded Balance Average Reserve Deficit (Surplus) Per Unit Percent Funded Recommended 2022/2023 Monthly Reserve Contribution
Reserve Fund Strength: 57.2% Weak
Fair
Strong
< 30%
< 70%
> 130%
Risk of Special Assessment:
High Medium
Low
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.00 % . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.00 % Economic Assumptions: Net Annual "After Tax" Interest Earnings Accruing to Reserves Annual Inflation Rate • This is an Update "With‐Site‐Visit" Reserve Study. • This Reserve Study was prepared by a credentialed Reserve Specialist ﴾RS﴿. • Because the Reserve Fund is at 57.2 % Funded, this means the association’s special assessment & deferred maintenance risk is currently Medium. • The multi‐year Funding Plan is designed to gradually bring the association to the 100% level, or “Fully Funded”. This is a low risk position where special assessments and other cash flow problems are extremely rare. • Based on this starting point, anticipated future expenses, and the association's historical Reserve contribution rate, our recommendation is to budget Monthly Reserve contributions of $91,594. Nominal annual increases are scheduled to help offset inflation ﴾see tables herein for details﴿. • The purpose of the Reserve Study is to serve as a budget planning tool, which incorporates the association's reserve fund balance, budgeted contributions, a list of significant repair/replacement projects, and a recommended funding plan. The component list contains cost estimates and approximate schedules for the association's predictable reserve expenses. These figures are strictly estimates unless otherwise noted. This document is dynamic and, therefore, we recommend that it be updated annually, with an on‐ site inspection update every three years to address changing needs, priorities, and financial conditions.
Association Reserves, #6510-0
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Executive Summary Table
Report # 6510-0 With-Site-Visit
Rem. Useful Life (yrs)
Current Average Cost
Useful Life (yrs)
# Component
General Common Area 303 HVAC Systems - Maintain/Replace
$25,000
1
0
$9,000
414 Flag Poles - Replace
35
22
$25,000
501 Perimeter Wall - Repair/Replace
10
2
$20,000
703 Entry Access System - Replace
8
2
$16,000
706 Barrier Arm Operators - Replace
8
2
$7,500
711 RFID Reader - Replace
8
2
$32,000
802 Pole Lights - Replace
20
6
$5,000
803 Landscape Lights - Replace
1
0
$10,500
804 Concrete Bollard Lights - Replace
20
6
$35,000
916 Gatehouse - Refurbish
15
2
$5,500
1006 Maintenance Radios - Replace
5
1
$15,000
1215 Pool Gate Locks - Replace
10
5
$10,000
1401 Signage - Replace
3
1
$15,000
1402 Monument Signs - Replace
20
1
$20,000
1801 Dog Run - Refurbish
10
7
$25,000
1808 Trees - Remove/Replace
1
0
$115,000
1808 Trees - Trim
1
0
$40,000
1812 Landscaping - Refurbish
1
0
$200,000
1830 Entry Ponds - Refurbish
20
12
$7,000
1832 Entry Pond Vault Pump
10
1
$20,000
1832 Entry Ponds Submersible Pumps
4
1
$10,000
4580 Sewer Camera Inspection
3
0
Asphalt & Concrete 201 Asphalt - Resurface (Area 1)
$1,180,000
30
10
$619,000
201 Asphalt - Resurface (Area 2)
30
11
$501,000
201 Asphalt - Resurface (Area 3)
30
12
$100,000
202 Asphalt - Seal/Repair (Area 1)
6
4
$52,000
202 Asphalt - Seal/Repair (Area 2)
6
5
$42,000
202 Asphalt - Seal/Repair (Area 3)
6
6
$279,115
202 Asphalt - Seal/Repair (Area 3) 2023
99
0
$10,000
205 Concrete & Drain - Repair
2
0
$192,500
206 Pavers (Roadway) - Replace
25
16
$15,000
207 Pavers (Roadway) - Seal/Repair
5
0
Admin Building 304 Computers/IT Equip - Update/Replace
$20,000
3
1
$5,000
304 Router - Replace
3
1
$8,500
304 Server - Replace
5
3
Association Reserves, #6510-0
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Rem. Useful Life (yrs)
Current Average Cost
Useful Life (yrs)
# Component
$8,500
304 Switches - Replace
3
1
$40,000
305 Surveillance System - Replace
8
6
$20,000
308 POS Systems - Replace
5
2
$5,000
404 Outdoor Furniture - Replace
15
0
$10,000
507 Wood Shade Structure - Replace
25
13
$11,500
601 Carpet - Replace
10
0
$14,000
610 Tile Floor - Replace
30
15
$20,000
717 Exterior Doors & Windows - Replace
40
5
$15,000
902 Furniture - Replace
15
1
$5,000
908 Window Treatments - Replace
10
4
$7,500
909 Restrooms - Refurbish
15
5
$7,500
928 TVs - Replace
6
2
$5,000
1110 Interior Surfaces - Paint
10
4
$5,000
1141 Building Exterior - Paint
10
4
$22,500
1304 Tile Roof - Replace
35
2
$3,500
1306 Flat Roof - Recoat/Repair
10
2
La Palma: Clubhouse 331 Water Heater - Replace (A.O. Smith)
$6,000
15
8
$6,000
331 Water Heater - Replace (Bradford W)
15
7
$3,500
331 Water Heater - Replace (Bradford W)
15
13
$3,000
331 Water Heater - Replace (Whirlpool)
15
7
$20,000
401 Mailboxes - Replace
30
4
$19,500
404 Outdoor Furniture - Replace (Cafe)
15
5
$22,500
417 Metal Shade Structures - Replace
40
25
$10,000
417 Shades/Canopies - Replace
10
5
$5,000
601 Carpet - Replace (Cafe)
10
4
$15,000
601 Carpet - Replace (Clubhouse)
10
4
$11,500
604 LVP Floor (East Room/Post Office)
15
13
$12,800
609 Tile Floor - Replace (Hallways)
30
19
$12,500
610 Tile Floor - Replace (Cafe)
30
4
$10,000
610 Tile Floor - Replace (Kitchen)
30
4
$12,500
613 Wood Floor - Refinish
10
4
$50,000
614 Wood Floor - Replace
30
4
$27,500
615 Fitness Flooring - Replace
10
9
$11,500
618 Convenience Store Flooring -Replace
20
4
$80,000
717 Exterior Doors & Windows - Replace
40
5
$5,000
805 Wall Lights - Replace
20
15
$8,500
807 Chandeliers - Replace
40
4
$7,500
900 Computers/IT Equip - Update/Replace
3
1
$6,000
901 Room Dividers - Replace
15
4
$20,000
902 Furniture - Replace (Board Room)
15
4
$10,000
902 Furniture - Replace (Cafe Indoor)
15
1
Association Reserves, #6510-0
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Rem. Useful Life (yrs)
Current Average Cost
Useful Life (yrs)
# Component
$17,500
902 Furniture - Replace (Library)
15
4
$70,000
902 Main Tables/Chairs - Replace
15
2
$5,000
903 Cafe Convection Oven
15
1
$10,000
903 Cafe Dishwasher - Replace
15
1
$7,500
903 Cafe Fire Suppression System
15
8
$4,000
903 Cafe Freezer (Hoshisaki)
15
1
$4,000
903 Cafe Garbage Disposal
15
14
$15,000
903 Cafe Griddle/Range/Ovens
15
1
$4,500
903 Cafe M3 Turbo Air Refrigerator
15
1
$5,000
903 Cafe Mixer - Replace
15
1
$7,500
903 Cafe Range Hood - Replace
20
13
$4,000
903 Cafe Slicer - Replace
15
1
$10,000
903 Cafe Turbo Air Prep/Refrigerators
15
1
$15,000
903 Cafe Walk-in Unit
25
1
$8,000
903 Kitchen Convection Ovens
15
14
$7,500
903 Kitchen Fire Suppression System
15
5
$6,000
903 Kitchen Freezer (Everest)
15
5
$8,000
903 Kitchen Griddle/Range/Ovens
15
14
$5,000
903 Kitchen Range Hood - Replace
20
5
$4,000
903 Kitchen Refrigerator (Everest)
15
5
$50,000
904 Cafe Kitchen - Remodel
25
5
$15,000
904 Kitchen - Remodel
25
5
$35,000
906 Acoustic Panels - Replace
20
4
$15,000
908 Window Treatments - Replace
10
4
$160,000
909 Restrooms - Refurbish (Clubhouse)
20
14
$10,000
909 Restrooms - Refurbish (Fitness)
20
14
$10,000
909 Restrooms - Refurbish (Pool Area)
20
14
$60,000
918 Cardio Equipment (Free Motion)
10
9
$12,500
919 Strength Equip (Nautilus/Paramount)
15
1
$25,000
919 Strength Equipment (Startrak)
15
3
$10,000
920 Free Weights/Racks/Benches
15
3
$5,000
921 Fitness Mirrors - Replace
20
9
$12,500
926 Decor - Replace
15
4
$5,000
927 Bingo Machine - Replace
20
2
$15,000
928 Sound System - Replace
15
4
$30,000
928 TVs - Replace
6
2
$8,500
929 Ice Machine - Replace (Cafe)
8
4
$8,500
929 Ice Machine - Replace (Kitchen)
8
4
$7,500
935 Cabinets & Counters - Replace
25
4
$35,000
1110 Interior Surfaces - Paint
10
4
$27,500
1141 Building Exterior - Paint
10
8
$8,000
1142 Building Trim - Paint/Repair
5
3
Association Reserves, #6510-0
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7/29/2022
Rem. Useful Life (yrs)
Current Average Cost
Useful Life (yrs)
# Component
$108,000
1304 Tile Roof - Replace
35
2
$19,600
1306 Flat Roof - Replace (Fitness)
20
5
$30,000
1306 Flat Roof-Recoat/Repair (Clubhouse)
10
5
La Palma: Pool & Spa 413 Patio Heaters - Replace
$4,000
5
2
$19,800
503 Metal Fence - Replace
35
13
$12,000
507 Alumawood Shade Structures -Replace
25
9
$4,800
804 Light Fixtures - Replace
20
2
$35,000
1010 Concrete & Planters - Replace
20
19
$12,000
1107 Metal Fence - Paint/Repair
5
3
$45,000
1200 Pool Deck - Resurface
20
19
$15,000
1201 Pool Deck - Seal/Repair
4
3
$32,500
1203 Pool Furniture - Replace
12
3
$40,000
1208 Pool - Resurface
12
11
$9,000
1209 Spa - Resurface (East)
8
7
$9,000
1209 Spa - Resurface (West)
8
6
$20,000
1211 Pool Skimmers - Replace
24
2
$2,500
1221 Pool Filter- Replace (East)
12
8
$2,500
1221 Pool Filter- Replace (West)
12
10
$2,500
1221 Spa Filter- Replace (East)
12
0
$2,500
1221 Spa Filter- Replace (West)
12
10
$5,500
1223 Pool Heater - Replace (East)
10
7
$5,500
1223 Pool Heater - Replace (West)
10
7
$5,500
1223 Spa Heater - Replace (East)
10
2
$5,250
1223 Spa Heater - Replace (West)
10
0
$5,000
1225 Pool/Spa Pumps - Replace
1
0
$10,000
1226 Salt Cells - Replace
3
0
$25,000
1226 Salt Generators - Replace
6
3
$12,000
1228 Pool/Spa ADA Lifts - Replace
15
6
La Palma: Tennis 404 Outdoor Furniture - Replace
$8,500
15
13
$80,000
417 Metal Shade Structures - Replace
40
36
$12,000
417 Shades/Canopies - Replace
10
6
$40,000
502 Chain Link Fence - Replace
35
11
$7,500
1106 Chain Link Fence - Recoat
5
1
$32,000
1609 Tennis Courts - Resurface
5
2
$15,000
1610 Windscreen - Replace
10
6
$48,000
1612 Court Lighting - Replace
25
21
$5,000
1619 Tennis Machines/Equip - Replace
8
2
El Saguaro: Clubhouse 331 Water Heater - Replace (Bradford W)
$8,500
15
2
$8,500
331 Water Heater - Replace (SmartWater)
15
0
Association Reserves, #6510-0
9
7/29/2022
Rem. Useful Life (yrs)
Current Average Cost
Useful Life (yrs)
# Component
$3,000
331 Water Heater - Replace (Whirlpool)
15
7
$20,000
401 Mailboxes - Replace
30
4
$6,500
404 Outdoor Furniture - Replace
15
1
$8,000
416 Awnings - Replace
10
6
$52,000
601 Carpet - Replace
10
1
$11,250
604 LVP Floor (Lifestyle/Post Office)
15
11
$31,000
606 Slate Floor - Replace
30
22
$23,600
609 Tile Floor - Replace (West Room)
30
22
$16,000
610 Tile Floor - Replace (Kitchen)
30
4
$12,500
613 Wood Floor - Refinish
10
4
$55,000
614 Wood Floor - Replace
30
4
$80,000
717 Exterior Doors & Windows - Replace
40
5
$7,500
807 Chandeliers - Replace
40
4
$10,000
808 Stage Lighting - Replace
15
4
$7,500
900 Computers/IT Equip - Update/Replace
3
1
$6,000
901 Room Dividers - Replace
15
4
$10,000
902 Furniture - Replace (Lifestyle)
15
12
$90,000
902 Furniture - Replace (Owners Lounge)
15
7
$70,000
902 Main Tables/Chairs - Replace
15
2
$8,000
902 Poker Tables/Chairs - Replace
15
2
$22,000
902 Theater Chairs - Replace
20
0
$10,000
903 Bar Draft Beer System - Replace
15
7
$8,000
903 Bar Refrigeration - Replace
15
7
$7,500
903 Bar Sinks/Racks - Replace
15
7
$16,000
903 Kitchen Convection Ovens
15
14
$10,000
903 Kitchen Dishwasher - Replace
15
14
$7,500
903 Kitchen Fire Suppression System
15
14
$21,000
903 Kitchen Freezers (Delfield)
15
14
$4,000
903 Kitchen Garbage Disposal
15
14
$7,500
903 Kitchen Range Hood - Replace
20
19
$17,500
903 Kitchen Range/Griddle
15
14
$9,500
903 Kitchen Refrigerator (Delfield)
15
14
$30,000
903 Kitchen Walk-in Refrigerator
25
14
$9,000
903 Kitchen Warming Drawers - Replace
15
14
$5,000
903 Owners Lounge Beer System
15
7
$6,500
903 Owners Lounge Dishwasher
15
7
$5,000
903 Owners Lounge Refrigeration
15
7
$6,000
903 Owners Lounge Sinks/Racks
15
7
$4,000
903 Poker Room Refrigerator
15
7
$15,000
904 Bar - Remodel (Main)
25
17
$10,000
904 Bar - Remodel (Owners Lounge)
25
17
$50,000
904 Kitchen - Remodel
25
14
Association Reserves, #6510-0
10
7/29/2022
Rem. Useful Life (yrs)
Current Average Cost
Useful Life (yrs)
# Component
$7,500
906 Acoustic Panels - Replace
20
4
$5,000
907 Stage Curtains - Replace
20
4
$15,000
908 Window Treatments - Replace
10
4
$25,000
909 Restrooms - Refurb (Owners Lounge)
20
13
$70,000
909 Restrooms - Refurbish (East)
20
12
$70,000
909 Restrooms - Refurbish (West)
20
14
$10,000
914 Espresso Bar - Refurbish
20
4
$12,500
915 Beauty Shop - Refurbish
20
4
$8,000
924 Billiard Tables - Replace
25
7
$15,000
926 Decor - Replace
15
7
$10,000
928 Owners Lounge AV System - Replace
10
0
$15,000
928 Sound System - Replace
15
4
$25,000
928 TVs - Replace
6
2
$5,500
929 Ice Machine - Repl (Owners Lounge)
8
6
$8,500
929 Ice Machine - Replace (Follett)
8
4
$8,500
929 Ice Machine - Replace (Hoshisaki)
8
4
$8,500
929 Ice Machine - Replace (Manitowok)
8
4
$17,500
935 Cabinets & Counters - Replace
25
17
$35,000
1110 Interior Surfaces - Paint
10
4
$27,500
1141 Building Exterior - Paint
10
8
$8,000
1142 Building Trim - Paint/Repair
5
3
$172,500
1304 Tile Roof - Replace
35
20
$20,000
1306 Flat Roof - Recoat/Repair
10
3
El Saguaro: Pool & Spa 404 Outdoor Furniture - Replace
$12,500
15
7
$4,000
412 BBQs - Replace
15
12
$10,000
413 Patio Heaters - Replace
5
2
$60,000
417 Metal Shade Structures - Replace
40
36
$10,000
417 Shades/Canopies - Replace
10
6
$6,000
419 Outdoor Showers - Refurbish
15
11
$33,000
503 Metal Fence - Replace
35
13
$15,000
507 Alumawood Shade Structure - Replace
25
9
$20,000
507 Wood Shade Structure - Replace
25
9
$8,000
804 Bollard Lights - Replace
20
16
$12,000
1107 Metal Fence - Paint/Repair
5
3
$330,000
1200 Pool Deck - Replace
25
23
$32,500
1203 Pool Furniture - Replace
12
3
$6,500
1208 Pool - Resurface (Kiddie)
12
9
$37,500
1208 Pool - Resurface (Main)
12
9
$9,000
1209 Spa - Resurface (North)
8
5
$9,000
1209 Spa - Resurface (South)
8
5
$22,500
1211 Pool Skimmers - Replace
24
20
Association Reserves, #6510-0
11
7/29/2022
Rem. Useful Life (yrs)
Current Average Cost
Useful Life (yrs)
# Component
$15,000
1221 Pool/Spa Filters - Replace
12
1
$5,500
1223 Pool Heater - Replace (#1)
10
7
$5,500
1223 Pool Heater - Replace (#2)
10
7
$5,000
1223 Pool Heater - Replace (Kiddie)
10
1
$5,500
1223 Spa Heater - Replace (#1)
10
1
$5,500
1223 Spa Heater - Replace (#2)
10
1
$5,000
1225 Pool/Spa Pumps - Replace
1
0
$10,000
1226 Salt Cells - Replace
3
0
$25,000
1226 Salt Generators - Replace
6
3
El Saguaro: Pickleball 417 Metal Shade Structures - Replace
$85,000
40
36
$12,000
417 Shades/Canopies - Replace
10
6
$40,000
502 Chain Link Fence - Replace
35
11
$7,500
1106 Chain Link Fence - Recoat
5
1
$16,000
1609 Pickleball Courts -Resurface (East)
5
4
$16,000
1609 Pickleball Courts -Resurface (West)
5
2
$15,000
1610 Windscreen - Replace
10
6
$60,000
1612 Court Lighting - Replace
25
20
Laundry 331 Water Heater - Replace
$8,500
15
0
$10,000
610 Tile Floor - Replace
30
2
$4,000
703 Card Dispenser Unit - Replace
12
2
$68,000
923 Laundry Machines - Replace
8
6
$2,500
928 TV - Replace
6
2
$17,500
1141 Building - Paint/Refurbish
10
4
$5,000
1306 Flat Roof - Recoat/Repair
10
1
Maintenance 507 Shade Structures -Replace
$20,000
25
6
$8,500
929 Ice Machine - Replace
8
1
$17,500
1141 Building - Paint/Refurbish
10
4
$14,000
1306 Flat Roof - Replace
20
1
$54,000
1550 Mobile Office Trailers - Replace
25
1
$10,000
1815 Air Compressor (S-4) - Replace
15
5
$22,500
1860 Trailer, Big Tex (T-21) - Replace
20
1
$100,000
1861 Sweeper, Street-Green Machine
15
12
$70,000
1862 Tactor, Case (T-19) - Replace
20
0
$40,000
1863 Scissor Lift - Replace
15
1
Vehicles 3310 Ford F150 - Replace
$35,000
10
1
$50,000
3310 Ford F450 - Replace
10
1
$85,000
3310 Ford F550 - Replace
10
5
$35,000
3310 Ford Ranger - Replace
10
1
Association Reserves, #6510-0
12
7/29/2022
Rem. Useful Life (yrs)
Current Average Cost
Useful Life (yrs)
# Component
Carts 3320 CART, 6 passenger (30)(FO)
$12,500
5
1
$12,500
3320 CART, Industrial ‐ 2673771(03)(PO)
5
2
$12,500
3320 CART, Industrial ‐ 2674519(09)(IR)
5
2
$12,500
3320 CART, Industrial ‐ 2675344(02)(PO)
5
2
$9,000
3320 CART, MPT1000 ‐ 2672812(23)(HK)
5
0
$9,000
3320 CART, MPT1000 ‐ 2672814(18)(HK)
5
2
$9,000
3320 CART, MPT1000 ‐ 2672816(22)(AT)
5
2
$9,000
3320 CART, MPT1000 ‐ 2673159(24)(GD)
5
2
$12,500
3320 CART, MPT1000 ‐ 2673214(20)(MT)
5
2
$10,000
3320 CART, MPT1000 ‐ 2673223(27)(GM)
5
2
$9,000
3320 CART, MPT1000 ‐ 2673226(10)(MT)
5
2
$9,000
3320 CART, MPT1000 ‐ 2673229(25)(PO)
5
2
$9,000
3320 CART, MPT1000 ‐ 2673230(28)(MT)
5
0
$12,500
3320 CART, MPT1000 ‐ 2673315(26)(MT)
5
1
$9,000
3320 CART, MPT1000 ‐ 2673363(11)(AT)
5
2
$9,000
3320 CART, MPT1000 ‐ 2673367(19)(SE)
5
0
$9,000
3320 CART, MPT1000 ‐ 2673371(12) HiSpeedAD
5
2
$9,000
3320 CART, MPT1000 ‐ 2673374(14) HiSpeedSE
5
2
$9,000
3320 CART, MPT1000 ‐ 2673474(16)(MR)
5
2
$9,000
3320 CART, MPT1000 ‐ 2673475(15) HiSpeedSE
5
2
$9,000
3320 CART, MPT1000 ‐ 2673476(13) HiSpeedSE
5
0
$9,000
3320 CART, MPT1000 ‐ 3673211(21)(MT)
5
0
Golf 411 Drinking Fountains - Replace
$36,000
10
9
$7,500
916 Starter Building - Refurbish
15
5
$10,000
1002 Irrigation Computer/Software
8
0
$55,000
1003 Irrigation Controllers - Replace
15
5
$17,500
1006 Weather Station - Replace
15
5
$12,500
1007 Irrigation System - Repair/Replace
1
0
$25,000
1701 Bridge - Replace/Rebuild (F#1)
15
4
$225,000
1950 Pump Station #1 - Replace
20
10
$200,000
1950 Pump Station #2 - Replace
20
10
$10,000
1960 Well Pump/Motor 125hp - Replace
20
0
$10,000
1960 Well Pump/Motor 40hp - Replace
20
7
$25,000
1962 Well Control Systems - Replace
20
10
$20,000
2000 Fountain Pumps - Replace (F#1)
10
5
$10,000
2001 Waterfall Pump - Replace (F#1)
10
1
$135,000
2002 Lake Liner - Replace (F#1)
20
15
$24,000
2003 Lake Shoreline - Repair (F#1)
20
15
$95,000
2004 Lake - Dredge (F#1)
10
0
$20,000
2010 Fountain Pumps - Replace (F#4)
10
5
Association Reserves, #6510-0
13
7/29/2022
Rem. Useful Life (yrs)
Current Average Cost
Useful Life (yrs)
# Component
$165,000
2011 Lake Liner - Replace (F#4)
20
15
$25,000
2012 Lake Shoreline - Repair (F#4)
20
15
$95,000
2013 Lake - Dredge (F#4)
10
0
$20,000
2020 Fountain Pumps - Replace (F#11)
10
0
$200,000
2021 Lake Liner - Replace (F#11)
20
0
$30,000
2022 Lake Shoreline - Repair (F#11)
20
0
$95,000
2024 Lake - Dredge (F#11)
10
10
$20,000
2030 Fountain Pumps - Replace (B#2)
10
2
$42,500
2031 Lake Liner - Replace (B#2)
20
12
$22,500
2032 Lake Shoreline - Repair (B#2)
20
12
$95,000
2033 Lake - Dredge (B#2)
10
8
$20,000
2040 Fountain Pumps - Replace (B#4)
10
2
$85,000
2041 Lake Liner - Replace (B#4)
20
12
$23,000
2042 Lake Shoreline - Repair (B#4)
20
12
$95,000
2043 Lake - Dredge (B#4)
10
8
$10,000
2050 Fountain Pump - Replace (B#6)
10
2
$125,000
2051 Lake Liner - Replace (B#6)
20
12
$23,500
2052 Lake Shoreline - Repair (B#6)
20
12
$95,000
2053 Lake - Dredge (B#6)
10
8
$10,000
2060 Fountain Pump - Replace (B#9)
10
2
$40,000
2061 Lake Liner - Replace (B#9)
20
12
$22,000
2062 Lake Shoreline - Repair (B#9)
20
12
$95,000
2063 Lake - Dredge (B#9)
10
8
$15,000
3000 Tees/Greens - Restore/Replace
1
0
$10,000
3002 Golf Fixtures - Replace
1
0
$27,000
3003 Hole Monument Signs - Replace
20
5
Satellite A 331 Water Heater - Replace
$8,500
15
13
$10,000
502 Chain Link Fence - Replace
35
11
$13,000
503 Metal Fence - Replace
35
13
$5,000
507 Alumawood Equip Cover - Replace
25
11
$3,000
802 Pole Lights - Replace
20
2
$20,000
909 Restrooms - Refurbish
20
7
$10,000
930 Laundry - Refurbish
20
7
$3,600
1106 Chain Link Fence - Recoat
5
0
$4,000
1107 Metal Fence - Paint/Repair
5
3
$5,000
1141 Building - Paint/Repair
10
4
$20,000
1200 Pool Deck - Resurface
20
12
$6,000
1201 Pool Deck - Seal/Repair
4
0
$15,000
1203 Pool Furniture - Replace
12
3
$17,500
1208 Pool - Resurface
12
9
$8,000
1209 Spa - Resurface
8
5
Association Reserves, #6510-0
14
7/29/2022
Rem. Useful Life (yrs)
Current Average Cost
Useful Life (yrs)
# Component
$7,500
1211 Pool Skimmers - Replace
24
4
$3,000
1213 Outdoor Shower - Refubish
20
7
$2,500
1221 Pool Filter - Replace
12
2
$2,500
1222 Spa Filter - Replace
12
4
$5,500
1223 Pool Heater - Replace
10
9
$5,500
1224 Spa Heater - Replace
10
1
$3,000
1225 Pool/Spa Pumps - Replace
1
0
$4,000
1226 Salt Cells - Replace
3
0
$10,000
1226 Salt Generators - Replace
6
3
$11,500
1304 Tile Roof - Replace
35
2
$10,000
1312 Solar System - Replace
15
5
$8,500
1609 Tennis Court - Resurface
5
2
$3,600
1610 Windscreen - Replace
10
2
$12,000
1612 Tennis Court Lighting - Replace
25
2
Satellite B 331 Water Heater - Replace
$8,500
15
0
$10,000
502 Chain Link Fence - Replace
35
13
$13,000
503 Metal Fence - Replace
35
13
$5,000
507 Alumawood Equip Cover - Replace
25
11
$2,250
802 Pole Lights - Replace
20
2
$20,000
909 Restrooms - Refurbish
20
7
$10,000
930 Laundry - Refurbish
20
7
$3,600
1106 Chain Link Fence - Recoat
5
0
$4,000
1107 Metal Fence - Paint/Repair
5
3
$5,000
1141 Building - Paint/Repair
10
4
$20,000
1200 Pool Deck - Resurface
20
8
$6,000
1201 Pool Deck - Seal/Repair
4
0
$15,000
1203 Pool Furniture - Replace
12
3
$17,500
1208 Pool - Resurface
12
1
$8,000
1209 Spa - Resurface
8
5
$7,500
1211 Pool Skimmers - Replace
24
4
$3,000
1213 Outdoor Shower - Refubish
20
7
$2,500
1221 Pool Filter - Replace
12
7
$2,500
1222 Spa Filter - Replace
12
11
$5,500
1223 Pool Heater - Replace
10
7
$5,500
1224 Spa Heater - Replace
10
0
$3,000
1225 Pool/Spa Pumps - Replace
1
0
$4,000
1226 Salt Cells - Replace
3
0
$10,000
1226 Salt Generators - Replace
6
3
$11,500
1304 Tile Roof - Replace
35
2
$8,500
1609 Tennis Court - Resurface
5
2
$3,600
1610 Windscreen - Replace
10
2
Association Reserves, #6510-0
15
7/29/2022
Rem. Useful Life (yrs)
Current Average Cost
Useful Life (yrs)
# Component
$12,000
1612 Tennis Court Lighting - Replace
25
2
Satellite C 331 Water Heater - Replace
$8,500
15
10
$10,000
502 Chain Link Fence - Replace
35
13
$13,000
503 Metal Fence - Replace
35
13
$5,000
507 Alumawood Equip Cover - Replace
25
11
$2,250
802 Pole Lights - Replace
20
2
$20,000
909 Restrooms - Refurbish
20
4
$10,000
930 Laundry - Refurbish
20
4
$3,600
1106 Chain Link Fence - Recoat
5
0
$4,000
1107 Metal Fence - Paint/Repair
5
3
$5,000
1141 Building - Paint/Repair
10
4
$20,000
1200 Pool Deck - Resurface
20
12
$6,000
1201 Pool Deck - Seal/Repair
4
0
$15,000
1203 Pool Furniture - Replace
12
3
$17,500
1208 Pool - Resurface
12
4
$8,000
1209 Spa - Resurface
8
4
$7,500
1211 Pool Skimmers - Replace
24
4
$3,000
1213 Outdoor Shower - Refubish
20
4
$2,500
1221 Pool Filter - Replace
12
0
$2,500
1222 Spa Filter - Replace
12
0
$5,500
1223 Pool Heater - Replace
10
7
$5,500
1224 Spa Heater - Replace
10
1
$3,000
1225 Pool/Spa Pumps - Replace
1
0
$4,000
1226 Salt Cells - Replace
3
0
$10,000
1226 Salt Generators - Replace
6
3
$11,500
1304 Tile Roof - Replace
35
2
$8,500
1609 Tennis Court - Resurface
5
2
$3,600
1610 Windscreen - Replace
10
2
$12,000
1612 Tennis Court Lighting - Replace
25
2
Satellite D 331 Water Heater - Replace
$8,500
15
7
$10,000
502 Chain Link Fence - Replace
35
13
$13,000
503 Metal Fence - Replace
35
13
$5,000
507 Alumawood Equip Cover - Replace
25
11
$2,250
802 Pole Lights - Replace
20
2
$25,000
909 Restrooms - Refurbish
20
4
$10,000
930 Laundry - Refurbish
20
4
$3,600
1106 Chain Link Fence - Recoat
5
0
$4,000
1107 Metal Fence - Paint/Repair
5
3
$5,000
1141 Building - Paint/Repair
10
4
$20,000
1200 Pool Deck - Resurface
20
12
Association Reserves, #6510-0
16
7/29/2022
Rem. Useful Life (yrs)
Current Average Cost
Useful Life (yrs)
# Component
$6,000
1201 Pool Deck - Seal/Repair
4
0
$15,000
1203 Pool Furniture - Replace
12
3
$17,500
1208 Pool - Resurface
12
5
$8,000
1209 Spa - Resurface
8
5
$7,500
1211 Pool Skimmers - Replace
24
4
$3,000
1213 Outdoor Shower - Refubish
20
4
$2,500
1221 Pool Filter - Replace
12
0
$2,500
1222 Spa Filter - Replace
12
4
$5,500
1223 Pool Heater - Replace
10
7
$5,500
1224 Spa Heater - Replace
10
1
$3,000
1225 Pool/Spa Pumps - Replace
1
0
$4,000
1226 Salt Cells - Replace
3
0
$10,000
1226 Salt Generators - Replace
6
3
$11,500
1304 Tile Roof - Replace
35
2
$8,500
1609 Tennis Court - Resurface
5
2
$3,600
1610 Windscreen - Replace
10
2
$12,000
1612 Tennis Court Lighting - Replace
25
2
Satellite E 331 Water Heater - Replace
$8,500
15
3
$10,000
502 Chain Link Fence - Replace
35
13
$13,000
503 Metal Fence - Replace
35
13
$5,000
507 Alumawood Equip Cover - Replace
25
11
$3,750
802 Pole Lights - Replace
20
2
$20,000
909 Restrooms - Refurbish
20
7
$10,000
930 Laundry - Refurbish
20
7
$3,600
1106 Chain Link Fence - Recoat
5
0
$4,000
1107 Metal Fence - Paint/Repair
5
3
$5,000
1141 Building - Paint/Repair
10
4
$20,000
1200 Pool Deck - Resurface
20
8
$6,000
1201 Pool Deck - Seal/Repair
4
0
$15,000
1203 Pool Furniture - Replace
12
3
$17,500
1208 Pool - Resurface
12
4
$8,000
1209 Spa - Resurface
8
4
$7,500
1211 Pool Skimmers - Replace
24
4
$3,000
1213 Outdoor Shower - Refubish
20
7
$2,500
1221 Pool Filter - Replace
12
8
$2,500
1222 Spa Filter - Replace
12
4
$5,500
1223 Pool Heater - Replace
10
7
$5,500
1224 Spa Heater - Replace
10
1
$3,000
1225 Pool/Spa Pumps - Replace
1
0
$4,000
1226 Salt Cells - Replace
3
0
$10,000
1226 Salt Generators - Replace
6
3
Association Reserves, #6510-0
17
7/29/2022
Rem. Useful Life (yrs)
Current Average Cost
Useful Life (yrs)
# Component
$11,500
1304 Tile Roof - Replace
35
2
$8,500
1609 Tennis Court - Resurface
5
2
$3,600
1610 Windscreen - Replace
10
2
$12,000
1612 Tennis Court Lighting - Replace
25
2
Satellite F 331 Water Heater - Replace
$5,000
15
12
$10,000
502 Chain Link Fence - Replace
35
13
$13,000
503 Metal Fence - Replace
35
13
$5,000
507 Alumawood Equip Cover - Replace
25
11
$3,750
802 Pole Lights - Replace
20
2
$20,000
909 Restrooms - Refurbish
20
7
$10,000
930 Laundry - Refurbish
20
7
$4,000
1107 Metal Fence - Paint/Repair
5
3
$20,000
1200 Pool Deck - Resurface
20
8
$6,000
1201 Pool Deck - Seal/Repair
4
0
$15,000
1203 Pool Furniture - Replace
12
3
$17,500
1208 Pool - Resurface
12
3
$8,000
1209 Spa - Resurface
8
3
$3,000
1213 Outdoor Shower - Refubish
20
7
$2,500
1221 Pool Filter - Replace
12
0
$2,500
1222 Spa Filter - Replace
12
8
$5,500
1223 Pool Heater - Replace
10
1
$5,500
1224 Spa Heater - Replace
10
1
$3,000
1225 Pool/Spa Pumps - Replace
1
0
$4,000
1226 Salt Cells - Replace
3
0
$10,000
1226 Salt Generators - Replace
6
3
$11,500
1304 Tile Roof - Replace
35
2
$8,500
1609 Tennis Court - Resurface
5
2
$3,600
1610 Windscreen - Replace
10
2
$12,000
1612 Tennis Court Lighting - Replace
25
2
510 Total Funded Components
Association Reserves, #6510-0
18
7/29/2022
Introduction
A Reserve Study is the art and science of anticipating, and preparing for, an association's major common area repair and replacement expenses. Partially art, because in this field we are making projections about the future. Partially science, because our work is a combination of research and well- defined computations, following consistent National Reserve Study Standard principles.
The foundation of this and every Reserve Study is your Reserve Component List (what you are reserving for). This is because the Reserve Component List defines the scope and schedule of all your anticipated upcoming Reserve projects. Based on that List and your starting balance, we calculate the association's Reserve Fund Strength (reported in terms of "Percent Funded"). Then we compute a Reserve Funding Plan to provide for the Reserve needs of the association. These form the three results of your Reserve Study.
Reserve contributions are not “for the future”. Reserve contributions are designed to offset the ongoing, daily deterioration of your Reserve assets. Done well, a stable, budgeted Reserve Funding Plan will collect sufficient funds from the owners who enjoyed the use of those assets, so the association is financially prepared for the irregular expenditures scattered through future years when those projects eventually require replacement.
Methodology
For this Update With-Site-Visit Reserve Study, we started with a review of your prior Reserve Study, then looked into recent Reserve expenditures, evaluated how expenditures are handled (ongoing maintenance vs Reserves), and researched any well-established association
precedents. We performed an on-site inspection to evaluate your common areas, updating and adjusting your Reserve Component List as appropriate.
Association Reserves, #6510-0
19
7/29/2022
Which Physical Assets are Funded by Reserves?
There is a national-standard four-part test to determine which expenses should appear in your Reserve Component List. First, it must be a common area maintenance responsibility. Second, the component must have a limited life. Third, the remaining life must be predictable (or it by definition is a surprise which cannot be accurately anticipated). Fourth, the component must be above a minimum threshold cost (often between .5% and 1% of an association's total budget). This limits Reserve
Components to major, predictable expenses. Within this framework, it is inappropriate to include lifetime components, unpredictable expenses (such as damage due to fire, flood, or earthquake), and expenses more appropriately handled from the Operational Budget or as an insured loss. How do we establish Useful Life and Remaining Useful Life estimates? 1) Visual Inspection (observed wear and age) 2) Association Reserves database of experience 3) Client History (install dates & previous life cycle information) 4) Vendor Evaluation and Recommendation How do we establish Current Repair/Replacement Cost Estimates?
In this order...
1) Actual client cost history, or current proposals 2) Comparison to Association Reserves database of work done at similar associations 3) Vendor Recommendations 4) Reliable National Industry cost estimating guidebooks
Association Reserves, #6510-0
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7/29/2022
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