What is a Reserve Study?
A reserve study is a budget planning tool used by community associations including condominiums, homeowners, and cooperatives that identifies the current status of the reserve fund and a stable and equitable funding plan to offset the anticipated future major common-area expenditures. The reserve study generally consists of two parts: the physical analysis and the financial analysis, both performed by experienced professionals.
The Reserve Fund is an account maintained by the association to cover expenditures for the repair and replacement of capital items associated with the community. The Reserve Fund is typically separate from the Maintenance Reserve used to cover regular operating expenses.
Criterium Engineers' Reserve Study
Our Reserve Study is consistent with the CCI Condominium Act and is prepared in conformance with CAI’s “National Reserve Study Standards”as well as the AICPA’s Guide. Criterium Engineers' Reserve Study options include all of the standard levels of service. We also offer an “Enhanced” version of our Reserve Study, which only our licensed engineers can provide.
Per your request, we can customize any Reserve Study to meet the needs of your Community Association. We can apply various strategies to optimize your reserve funding, for example, spreading capital-intensive items over multiple years. We are also available to present your Reserve Study Report at Board and Community Meetings.
Criterium Engineers is proud to offer the following Reserve Study services engineered to your needs.
Maintenance should be performed by planning, not by default.