The 2021 reserve study was completed by Engineering Technologies Corporation. The reserve study provides:
- full professional site review, with comments
- projection of required financial expenditures over 20 yrs
- recommended condo owner’s fees needed to finance future capital expenses
- prioritized plan for improvements within the community
The Board will use this study in conjunction with the financial review of the current and previous year to create a budget for 2022. This will also inform our HOA fees (our income) and the reserve study forecasts our spending needs for the next year and beyond.
This is a complicated time due to quickly rising inflation, which makes forecasting expenses and fees difficult. For this reason, we expect to have the study reviewed or revised again within the next 5 years.
If you would like a PDF copy of the 2021 reserve Study, please contact the board. Thank you.
