Community Reserve Planning

Reserve Studies

"Preserving Value By Planning for the Future"

Community associateions come in all sizes. They vary in age, amenities, and mainitenance obligations. Careful planning for future repairs and replacements is not only in the best physical and financial interest of your community association, it is required by governing documents (CC&R) and in some states it is required by law. Maintaining a reserve fund not only meets legal, fiduciary and professional requirements, it also minimizes the need for special assmessments or loans.

"Every community association requires a different amount of cash in reserve to complete repair or replacement projects on schedule without special assessment loans."

"How does an association properly determine and compile adequate reserves to fund necessary repair and replacement costs? By conducting a Reserve Study." (Best Practices CAI research foundation)

Subscribe to posts

Summer Special

posted Jul 19, 2010 3:49 PM by Burke Nielsen

Mention the summer special and receive a 10% discount on a reserve study when the contract is signed before August 31st

New Utah Law Requires Reserves (SB 278)

posted Apr 3, 2010 9:44 PM by Burke Nielsen [ updated Apr 3, 2010 9:58 PM ]

The State Legislature has recently passed a law requiring Community Associations to conduct a Reserve
Study. below are a few of the main points of the bill

All associations must have a Reserve Analysis by July 1, 2012
The Analysis must be reviewed at least every 2 years and updated no less than every 5 years
Reserve funds must be spent on reserve items unless approve by 60% of association members
A Reserve Fund must be established separate from the associations general operating account

I have attached the final version of the bill that was passed

| Attachments: sb0278-final.pdf

1-2 of 2

Home

Summer Special

New Utah Law Requires Reserves (SB 278)