A reserve study estimates future major repairs and replacements of the association in the future and uses that information to develop a funding plan (i.e. annual contributions to and expenditures from the replacement fund).
Why is a study important?
What does a study entail?
Interested? Give it a shot! A good spreadsheet can accomplish the basics. A reserve study only works if it matches the will and intent of the Association.
If you would like some help, we would love to consult with you on your reserve study or help prepare one for you. While we are not engineers, our history and breadth of experience with associations helps us develop general funding plans for associations and assist them in understanding the study, evaluating its recommendations, and putting a plan into action.
At Armstrong, Vaughan & Associates, P.C., we've been serving the accounting needs of San Antonio area and the surrounding areas for years. If you need help managing any aspect of your home or business's finances, we want to hear from you.
Please fill out this form and let us know how we can be of service.
Thank you for visiting. We look forward to working together!