Common Foundations is Criterium Engineers' community association newsletter. As expert engineers in the building field, we hope to share the knowledge we’ve gathered over our 50+ years in business. Our extensive experience working with community associations across the country has made us aware of the complicated issues you deal with on a daily basis. We hope you will find our newsletter informative and helpful to you.
One of the primary business duties of Community Associations is maintaining and preserving property values of the Association’s common property. To do this properly, Associations must develop funding plans for future repair or replacement of major commonarea components. A reserve study is a budget planning tool that identifies the current status of the reserve fund and establishes a stable and equitable funding plan to offset the anticipated future major common-area expenditures.