RESERVE STUDY - Riverside Management and Settings... · N. Anthony Dann graduated from Cal State...

• • ?5: . '\ ,_

BROWNING RESERVE GROUP

TRAILSIDE PLACE HOMEOWNERS ASSOCIATION

il!22 51211/2010 12fS4.D.22 Version 5/2612010 5:25:40 I'M

RESERVE STUDY Full study

First Draft

Published - May 26, 201 o Prepared for the 2011 Fiscal Year

BROWNING RESERVE GROUP ~ Emmett, I D 83617 ~ Office (208) 36§-0977 Fax (208) 365-3158

www.BrowningRG.com

©Browning Reserve Group 2010

• • ~ 'l ',<;.. . ',


First Draft

TRAILSIDE PLACE HOMEOWNERS Table of Contents

Section Report -----Section 1: Summary of Association Reserves

Section 11: 30 Year Expense Forecast

Section Ill: 30 Year Reserve Funding Plan

section 11/~e: 30 Year Reserve Funding Plan

Section IV: 30 Year Reserve Funding Plan

section v: Reserve Fund Balance Forecast

section VI: Component Listing

Section VII: Tabular Component Listing

Section Vll~a: Expenditures by Year

section IX: Directory of Reserve Study Contractors

section X: Auditor Notes

Section X-a: Supplementary Information for Auditor

Section XI: Glossary

Addendum:

Detailed

Cash Flow Method {c)

Cash Flow Method ~ Ending Balances Chert

Fully Funded Balance and % Funded

Component Method

Included Components

JnciiJded Components

For 1 Year

Component Method

Reserve Study Terms

Homeowner Distribution Materials See Page if for Details

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First Draft

TRAILSIDE PLACE HOMEOWNERS Homeqwner Djstrjbutjpo Materials

The following Reserve Study sections should be provided to each Homeowner. ____ s~e~c~ti~on~- ~R~ep~o~rt __________________________________________________________ ___

Idaho: Homeowner Summary

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Reserve Study

Full Study

Prepared for the 2011 Fiscal Year

Section I First Draft

Trailside Place Homeowners Association

A Reserve Study was conducted of Trailside Place Homeowners AsSociation (the. "Association"). This study is a Full Study which includes an on-site review upon Where the foHowing tasks are performed:

• development of a reserve component inventory; • condition aS$esement ba$ed upon on-site viSU!ll observation; • life and valuation estimates; • fund status; • and a funding plan.

Trailside Place Homeowners Association is a Planned Development with a total of 110 Lot Lots.

Physical I hspection

Browning Reserve Group ("BRG") conducted a physical inspection of the Association. The Inspection encompassed those major components that the Association is required to maintain. For this study components are determined to be major components if:

1. A& of the date of the study, they have a remaining us&fullife of le$$ than 30 years, and a value greater than $1,000.

2. Such additional components, if any, determined by the Board of Directors.

During the inspection, BRG utilized the services of our own construction cost estimator. I ri ad-dition, independent contractors were retarned to render opinlons on selected components as indicated in Sectjon VI. Included Coropongnt Usting.

Supplemental information to the physical inspection may have been obtained from the following\ sources:

1. Project ph;ms where available.

2. Maintenance records of the reserve components where available.

~. Association board members, management and staff.

1G22 &/26/2010 12!84.0.22 V~>rslon 5/26/2010 5:25:40 PM

~ Emmett, I D 83617 - Office (208) 365-0977 Fax (208) 365-3158 www.BrowningRG.com

© Browning Reserve Group 20 1 o

Reserve Study • Full Study Trailside Place Homeowners Association

Summary of Reserves

For the first year of the Reserve Study, the reserve contribution is based upon the existing budget 1,1nless otherwise noted in "Section III, Reserve Funding Pkm. n In addition BRG relied on the Association to provide an accurate Beginning Reserve Balance.

The status Qf the Association's reserves, as reflected in the foUowing Reserve Study, is as follows:

1. The f:xpendtture Forecast of the following Reserve Study Identifies the major components which the Association is obligated to repair, replace, restore or maintain, as determined tn accordanoe with the criteria specified above, artd specifies for each such component:

a. Its current estfmated replacement cott; b. Its estimated useful life; and

o. I t1 esthnated remaining useful life.

2. It Is estimated that the total cash reserves necessary to repair, replace, restore or maintain such major components (In the aggregate) during and at the end of their first remaining useful life Is $SS,825.

• {For purposes of this cak:ulation, "necessary~ Is defined as the Fully Funded Balance (FFB) (Component Current Cost X Effective Age I Useful Life, 1nch1dJng a provision for Interest and htflatton in future years.)]

3. The current amount of accumulated cash reserves actually set aside to repair, reptace, restore, or maintain such major components as of the fiscal year ending December 31, 2011 is estimated to be $18,728, constituting 33.5% of . the ~otat expenditures anticipated for all such major components through their first end of useful life replac;emertt.

4. Based upon the sched1de of annual reserve contributions necessary to defray the cost of repairing, replacing, restoring or maintaining such major components in the years such expenditures are estimated to be required, It Is estimated that annual reserve contributions In the Initial amount of $19.800 ($1S.iJO per Lot per mopth t•v•uageJJ for the fiscal year ending December 31, 2011 (the first fuJI fiscal year following first distribution of this report} will be necessary In order to meet att such reserve expenditures when they are projected to come due.

Reserve Study • Full Study Trailside Place Homeowners Association

Funding Assessment

Based on the 30 year cash flow projection, the Association's reserves appear adequately funded as the reserve fund ending balances remain positive throughout the replacement of all major components during the next 30 years.

Idaho statute lmp()ses .n2 reserve funding level requirements nor does it address funding level adequacy, and although ol1e or more of the reserve fund percentages expressed in this report may be less than one hundred percent, those percentages do not necessarily indicate that the Association's reserves are inadequately funded.

Percent Funded Status

Based on paragraphs 1 - 3 above, the Association is 33.5% funded. The following scale can be used as a measure to determine the associationfs financial picture whereas the lower the percentage, the higher the likelihood of the Association requiring a special assessment, or other large increases to the reserve contribution in the future.

------·-·--·- Poor -·----····-· 30% ··-··-·······--··-· Fair --··--····-···-·····- 70% ··-···-·· strong ---·--····· 11 Methodology

The above recommended reserve contribution for the next fiscal year (and future fiscal years as outlined in $1Cil9a Ill, &l~tt:~ Euo.rl B.itf§nct Eoreru~so was developed using the cash flow method. This is a method of developing a reserve funding plan where the contribution$ to the reserve fund are designed to offset the variable annual expenditures from the reserve fund. Different reserve funding plans are tested against the anticipated sohedute of reserve expenses until the desired .funding .goal Is achieved.

Funding Goals

The funding goal employed for Trailside Place Homeowners Association Is

Threshplsl FuMing: Establishing a Reserve funding goal of keeping the Re$erve balance above a specified dollar or Percent Funded amount.. Depending on the threshold, this may be more or less conservative than "Fully Funding."

3

Reserve Study - Full study Trailside Place Homeowners Association

Limitations

The intention of the Reserve Study is to forecast the Association's ability to repair or replace major components as they wear out in future years. The Reserve Study is not an engineering report. The costs outlined in the study are for budgetary and planning purposes only. Amual bid (f()Sts would depend upon the defined scope of work at the time repairs are made. Also, any latent defects are excluded from this report. It should be noted no destructive testing was performed.

Statutory Disclosures

Compliance The Reserve Study complies with or exceeds all applicable statutes, if any.

Supplemental Disclosures

General:

BRG has no other involvement{s) with the AssOCiation which could result in actual or perceived conflicts of interest.

Personnel Credentials:

N. Anthony Dann graduated from Cal State Northridge with Bachelors & Master of Science degrees in Business Admini-stration, Management and Finance.

Diane M. Dann has a Certified Property Manager designation from the Institute of Real Estate Management.

Cc:)m pleteness:

SRG has found no material issues which, if not disclosed, would cause a distortion of the Association's situation.

Reliance on Client Data:

Information provided by the official representative of the Association regarding financial, physical, quantity, or historical Issues will be deemed reliable by BRG.

scope:

This Reserve Study Is q reflection of information provided to BRG and assembled for the Association's use, not for the purpose of performing an audit, quality/forensic analysis, health and safety in$pection, or background checks of histoticat records.

Reserve Balance:

The actual beginning reserve fund balanee in this Reserve Study is based upon information provided and was not audited.

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~eserve Study - Full Study Trailside Place Homeowners Association

Reserve Projects:

I nformatioh provided about reserve projects will be considered reliable. Any on~site inspection should not be considered a project audit, quaUty inspection, or health and safety review. ·

• • • Trailside Place Homeowners Association


30 Year Expense Forecast- Detailed

Current Life Replacement Useful/

ReseTVe Component Cost Remaining 2010 2011 2012 2013 2014 2015 2016 2017

01000- Paving 100 -Asphalt: Sealing {131,600 Sq. A:. Streets}

12,278 4 0 12,:n8 13,553

200 - Asphalt: Repairs: On-going {Streets} 1,500 4 4 1,656

Total 01000 - Paving 13,778 12,278 15,209

02000 - Concrete 900 - Miscellaneous {Common Area} 1,000 5 0 1,000 1,131

Total 02000 - Concrete 1,000 1,000 1,131

03000 - Painting: Exterior 150 - stain {Picnic Area Shade Structure} 800 5 0 800 905

151 - Stain {Childrens Playgro\lnd}[nr:3] 600 5 0 600 679

400 -Wrought Iron {1,155 Un. Ft. Perimeter 5,600 7 1 5,740 Fence}

450 - Wood Fencing {Amity Road Fence} 1,000 3 3 1,077 1,160

451 - Wood Fencing {East Perimeter 1,000 3 6 1,160 Fencing}

452 - Wood Fencing {West Perimeter 1,000 3 9 Fencing}

500 - Light Poles { 15 Street lights} 600 7 2 630

Total 03000 - Painting: Exterior 10,600 1,400 5,740 630 1,077 1,584 2,319

04000 - Structural Repairs 970 -Mailboxes {5 Cluster Mailboxes -One 6,750 25 20 Half}

971 -Mailboxes {5 Cluster Mailboxes- One ii,750 25 22 Half}

Total 04000 - Structural Repairs 13,500

17500- Basketball I Sport Court 900 - Miscellaneous {2 Basketball Court} 1,500 20 15

Total 17500 - Basketball I Sport 1,500 Court

18000 - Landscaping 100 -Irrigation: Misc. {Landscaping} 1,500 3 3 1,615 1,740

400 -Turf Renovation {Landscaping} 5,000 15 10

420 - General Repairs/Upgrades 3,000 5 5 3,394 {Landscaping}

490 - Bark Replacement {Landscaping} 3,000 3 1 3,075 3,311 3,566

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Section II First Draft


2018 2019 2020 2021 2022 2023 2024

14,960 16,513

1,828 2,017

16,787 18,530

1,280

1,280

1,024

71;i8

6,823

1,249 1,345

1,249 1,345

1,249 1,345

749

6,823 4,496 1,792 4,035

1,873 2,017

6,400

3,840

3,840 4,136

2010 to2024 6

/ ~


Current Life Replacement Useful(_

Reserve Component Cost Remaining 2010

500 • Tree Maintenance {L!Indscaplng} ·2,000 5 5

Total 18000 · Landscaping 14,500

19000- Fencing 340 · Wood: 6' {820 Un. Ft. Amity Road 13,366 20 0 13,366 Fence}

341 ·Wood: 6' {855 Un. Ft. West Perimeter 17,100 20 3 Fencing}

342 • Wood: 6' {930 Lin. Ft. East Perimeter 18,600 20 6 Fencing}

Total 19000 · Fencing 49,066 13,366

20000 - Lighting 200 • Street Lights { 15 Street Lights 3,299 1 23 (13.3%)}

Total 20000 • Lighting 3,299

21000- Signage 792 • Monument {2 Rock Monument Signs} 1,200 7 2

Total 21000 • Slgnage 1,200

26000 - Outdoor Equipment 100 ·Tot Lot {Childrens Playground}[nr:1] 6,000 20 15

S40 • Shade Structure {Picnk: Area Shade 1,500 5 15 Structure (15%)}

Total 26000 • Outdoor Equipment 7,500

30000 - Miscellaneous 170 ·Storm Drains {Storm Drains} 1,500 30 25

Total 30000 · Miscellaneous 1,500

31000 - Reserve Study 100 • 3 Year Update with Site Visit {Reserve 850 3 3 Study}

Total 31000 • Reserve Study 850

32000 - Undesignated 100 • Miscellaneous {Common Area} 500 2 1

Total 32000 • Undesignated 500

Total Expenditures Inflated @ 2.50% 28,044

Total Current Replacement Cost 118,793

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2011 2012 2013 2014 2015 2016 2017

2,263

3,075 1,615 3,311 5,657 1,740 3,566

18,415

21,570

18,415 21,570

1,261

1,261

915 986

915 986

513 538 566 594

513 538 566 594

9,328 1,891 22,561 18,520 8,938 26,615 4,160


First Draft


2018 2019 2020 2021 2022 2023 2024

2,560

1,873 16,641 2,017 4,136

1,499

1,499

1,062 1,143

1,062 1,143

624 656 689

624 656 689

23,611 9,554 19,713 656 25,725 4,825 0

2010 to 2024 7

30 Year Expense Forecast-oetailecJ First Draft Prepared for the 2011 Fiscal Year

Reserve Component 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 -01000 - Paving

100- Asphalt: Sealing {131,600 Sq. Ft. 18,227 20,119 22,208 24,514 Streets}

200 - Asphalt: Repairs: on-going {Streets} 2,227 2,458 2,713 2,995

Total 01000 - Paving 20,454 22,577 24,921 27,508

02000- Concrete 900 - Miscellaneous {Common Area} 1,448 1,639 1,854

Total 02000 - Concrete 1,448 1,639 1,854

03000 - Painting: Exterior 150 - Stain {Picnic Area Shade structure} 1,159 1,311 1,483

151 - Stain {Childrens Playground}[nr:3]

400 - Wrought Iron {1,155 un. Ft. Perimeter 8,110 9,641 11,460 Fence}

450 - Wood Fencing {Amity Road Fence} 1,448 1,560 1,680 1,809 1,948

451 -Wood Fencing {East Perimeter 1,448 1,560 1,680 1,809 1,948 Fencln }

452 - Wood Fencing {West Perimeter 1,448 1,560 1,680 1,809 1;948 Fencing} 500 - Ught Poles { 15 Street Lights} 891 1,059

Total 03000 - Painting: Exterior 13,614 891 4,679 1,311 5,039 9,641 1,059 5,426 1,483 5,843 11,460

04000- Structural Repairs 970 -Mailboxes {5 Cluster Mailboxes -One 11,061 Half}

· 971 - Mailboxes {5 Cluster Mailboxes - One 11,621 Half}

Total 04000 - structural Repairs 11,061 11,621

17500 - Basketball I Sport Court 900 - Miscellaneous {2 Basketball Court} 2,172

Total 17500 - Basketball/ Sport 2,172 Court

18000 - Landscaping 100 -Irrigation: Misc. {Landscaping} 2,172 2,339 2,519 2,713 2,922

400 -Turf Renovation {Landscaping} 9,270

420 - General Repairs/Upgrades 4,345 4,916 5,562 {Landscaping}

490 - Bart< Replacement {Lanclsceping} 4,454 4,796 5,165 5,562 5,989

500 -Tree Maintenance {Landscaping} 2,897 3,277 3,708

Total 18000 - Landscaping 9,414 4,454 2,339 4,796 8,193 2,519 5,165 2,713 24,101 2,922 5,989

19000- Fencing 340 -Wood: 5• {820 Un. Ft. Amity Road 21,902 Fence} 341 -Wood: 6' {855 Un. Ft. West Perimeter 30,175 Fencing}

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Reserve Component 2025

342 -Wood: 6' {930 Un. Ft. East Perimeter Fencing}

Total 19000 - Fencing

20000 - Lighting 200 - Street Ughts { 15 Street Ughts (13.3%)}

Total 20000 - Lighting

21000- Signage 792 - Monument {2 Rock Monument Signs}

Total 21000 - Slgnage

26000 - Outdoor Equipment 100- Tot Lot {Chlldrens Playground}[nr: 1] 8,690

840 - Shode structyre {Pig,lc; Area Shade 2,174 Structure (15%)}

Total 26000 -outdoor Equipment 10,862

30000- Miscellaneous 170 - Storm Drains {Storm Drains}

Total 30000 - Miscellaneous

31000 - Reserve Study 100 - 3 Year Update with Site Visit {Reserve 1,231 study}

Total 31000 - Reserve Study 1,231

32000- Undesignated 100 - Miscellaneous {Common Area} 724

Total 32000 - Undesignatad 724

Total Expenditures Inflated @ 2.50% 39,466

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2026 2027 2028 2029 2030 2031 2032

21,902

1,781

1,781

2,458

2,458

1,326 1,428

1,326 1,428

761 799 840

761 799 840

27,580 761 8,344 5,595 69,140 9,826 26,426


First Draft Prepared for the 2011 Fiscal Year

2033 2034 2035 2036 2037 2038 2039

35,345

30,175 35,345

5,822 5,967 6,116 6,269 6,426 6,587 6,751

5,822 5,967 6,116 6,269 6,426 6,587 6,751

2,118

2,118

2,781

2,781

2,781

2,781

1,537 1,656

1,537 1,656

882 927 974 1,023

882 927 974 1,023

40,055 40,565 40,044 41,615 17,821 40,085 19;235

2025to2039 9

Period I Year

1) 00/2010 2)

30 Year Reserve Funding Plan Cash Flow Method

Reserve Funding Plan - Footnotes

Reserve Contribution of $19,800 for 2010 calculated by BRG.

Special Assessment of $16,500 ($150 per unit) to fund a Reserve Account.

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First Draft


11

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§ .!!!

= 1 i.

$140,000

$120,000

$100,000

$80,000

$60,000

$40,000

$20,000

$0 lL


30 Year Reserve Funding Plan Cash Flow Method - Ending Balances

t- -

- - -

-

-

- 1- 1- -

- -

r-- 1-

- 1-

- -

Section III-a First Draft


1- 1- - 1- 1- f-.

~ ~ y ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ & ~ ~ ~ # ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~(;) ~ ~(;) ~ ~(;) ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~

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Years

12

• • •


Year

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2031

2032

2033

2034

2035

2036

2037

2038

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30 Year Reserve Funding Plan Including Fully Funded Balance and % Funded

Inflated Beginning Fully Funded Percent Expenditures Resetve Special Assessments

Balance Balance Funded @2.50% Contribution & Other Contributions

0 72,332 11.4% 28,044 19,800 16,500

8,256 55,825 33.5% 9,328 19,800 0

18,728 60,437 60.6% 1,891 19,800 0

36,637 73,129 46.3% 22,561 19,800 0

33,876 65,326 53.8% 18,520 19,800 0

35,156 62,104 74.1% 8,938 19,800 0

46,018 68,999 56.8% 26,615 19,800 0 39,203 58,354 94.0% 4,160 19,800 0

54,843 71,144 71.7% 23,611 19,800 0

51,032 64,716 94.7% 9,554 19,800 0

61,278 72,950 84.1% 19,713 19,800 0 61,365 71,250 113.0% 656 19,800 0

80,509 89,799 83.1% 25,725 19,800 0

74,584 83,557 107.2% 4,825 19,800 0

89,559 99,037 110.4% 0 19,800 0

109,359 120,316 74.5% 39,466 19,800 0

89,693 101,714 80.5% 27,580 19,800 0

81,913 95,320 105.9% 761 19,800 0

100,952 116,771 96.8% 8,344 20,394 0

113,002 131,531 97.6% 5,595 21,006 0

128,413 150,077 53.9% 69,140 21,636 0

80,909 104,663 89;2% 9,826 22,285 0

93,368 119,927 75.0% 26,426 22,954 0

89,896 121,066 60.7% 40,055 23,643 0

73,484 111,878 51.2% 40,565 24,352 0 57,270 102,658 41.2% 40,044 25,083 0 42,310 94,482 28.1% 41,615 25,835 0

26,530 85,248 41.4% 17,821 26,610 0

35,319 100,949 22.4% 40,085 27,408 0 22,643 95,017 33.3% 19,235 28,230 0

Trailside Place Homeowners Association © Browning Resetve Group 2010

Section IV First Draft


Ending Interest Balance

0 8,256

0 18,728

0 36,637

0 33,876

0 35,156

0 46,018

0 39,203

0 54,843

0 51,032

0 61,278

0 61,365

0 80,509

0 74,584

0 89,559

0 109,359

0 89,693

0 81,913

0 100,952

0 113,002

0 128,413

0 80,909

0 93,368

0 89,896

0 73,484

0 57,270

0 42,310

0 26,530

0 35,319

0 22,643

0 31,638

13



Reserve Fund Balance Forecast Component Method

Estimated Future

Reserve Component Current Useful Remaining Replacement

01000 - Paving 100- Asphalt: Sealing {131,600 Sq. Ft. Streets}

200- Asphalt: Repairs: On-going {Streets}

Sub-total [01000- Paving]

02000 - Concrete 900- Miscellaneous {Common Area}

03000 - Painting: Exterior 150- Stain {Picnic Area Shade Structure}

151- Stain {Childrens Playground}[nr:3]

400- Wrought Iron {1,155 Un. Ft. Perimeter Fence}

450 - Wood Fencing {Amity Road fence}

451- Wood Fencing {East Perimeter Fencing}

452 - Wood Fencing {West Perimeter Fencing}

500- Ught Poles {15 Street Lights}

Sub-total [03000- Painting: Exterior]

04000- Structural Repairs 970 -Mailboxes {5 Ouster Mailboxes- One Half}

971 - Mailboxes {5 Cluster Mailboxes - One Half}

Sub-total [04000 - Structural Repairs]

17500 - Basketball I Sport Court 900 - Miscellaneous {2 Basketball Court}

18000 - Landscaping 100- Irrigation: Misc. {Landscaping}

Rep/. Cost

12,278 1,500

13,778

1,000

800 600

5,600 1,000 1,000 1,000·

600 10,600

6,750 6,750

13,500

1,500

1,500

Life Life Costs

4 0 12,278 4 4 1,656

13,934

5 0 1,000

5 0 800 5 0 600 7 1 5,740 3 3 1,077 3 6 1,160 3 9~ 1,249 7 2 630

11,256

25 20 11,061 25 22 11,621

22,681

20 15 2,172

3 3 1,615

Per Year

3,070 331

3,401

200

160 120 820 269 166 125

90 1,750

442 465 907

109

404

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Trailside Place Homeowners Association © Browning Reserve Group 2010

2010Ful/y Funded Balance

12,278 300

12,578

1,000

800 600

4,800 250 143 100 429

7,121

1,350 810

2,160

375

375

Section V First Draft


2011 Line Item

2011 Fully Contribution Funded %Per Year based on Balance Straight Line Cash Flow Method

3,146 22.90% 4,535 384 2.47% 489

3,531 25.37% 5,024

205 1.49% 295

164 1.19% 236 123 0.90% 177

5,740 6.12% 1,211 342 2.01% 398 171 1.24% 245 114 0.93% 184 527 0.67% 133

7,181 13.06% 2,585

1,661 3.30% 654 1,107 3.47% 687 2,768 6.77% 1,340

461 0.81°/o 160

513 3.01% 597

14

Reserve Fund Balance Forecast First Draft Component Method Prepared for the 2011 Fiscal Year

2011 Estimated Line Item

Future 2010 Fully 2011 Fully Contribution

'" Current Useful Remaining Replacement Per Funded Funded %Per Year based on Reserve Component Rep!. Cost Life Life Costs Year Balance Balance Straight Line cash Flow Method

400 -Turf Renovation {Landscaping} 5,000 15 10 6,400 427 1,667 2,050 3.18% 630 420- General Repairs/Upgrades {Landscaping} 3,000 5 5 3,394 566 500 615 4.22% 836 496- Bark Replacement {Landscaping} 3,000 3 1 3,075 1,025 2,000 3,075 7.65% 1,514 500 - Tree Maintenance {Landscaping} 2,000 5 5 2,263 377 333 410 2.81% 557

Sub-total [18000 - landscaping] 14,500 16,748 2,798 4,875 6,663 20.88% 4,134

19000 - Fencing 340- Wood: 6' {820 Lin. Ft. Amity Road Fence} 13,366 20 0 13,366 668 13,366 685 4.99% 987 341- Wood: 6' {855 Lin. Ft. West Perimeter Fencing} 17,100 20 3"'-. 18,415 921 14,535 15,775 6.87% 1,360 342 - Wood: 6' {930 lin. Ft. East Perimeter Fencing} 18,600 20 6 21,570 1,079 13,.020 14,299 8.05% 1,593

Sub-total[19000 - Fencing] 49,066 53,351 2,668 40,~21 30,759 19.90% 3,941

20000- Lighting 200 ·Street Lights {15 Street Ughts (13.JOA>)} 3,299 1 23 5,822 243 137 147 1.81% 358

21000 - Signage 792 - Monument. {2 Rock Monument Signs} 1,200 7 2 1,261 180 857 1,054 1.34% 266

26000 - Outdoor Equipment 100- Tot Lot {Childrens Playground}[nr:11 6,000 20 15 8,690 434 1,500 1,845 3.24% 642 840- Shade Structure {Picnic Area Shade Structure (15%)} 1,500 5 15 2,172 136 94 103 1.01% 201

Sub-total [26000 - Outdoor Equipment] 7,500 10,862 570 1,594 1,948 4.25% 842

30000 - Miscellaneous 170 - Storm Drains {Storm Drains} 1,500 30 25 2,781 93 250 308 0.69% 137

31000 - Reserve Study 100 - 3 Year Update with Site Visit {Reserve Study} 850 3 3 915 229 213 290 1.71% 338

32000 - Undesignated

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Reserve Fund Balance Forecast Component Method

Estimated Future

Current Useful Remaining Replacement Reserve Component Rep/. Cost Life Life Costs

100- Miscellaneous {Common Area} 500 2 1 513

Totals 118,793 143,296

Percent Funded

Per Year

256

13,403

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First Draft


2011 Line Item

2010 Fully 2011 Fully Contribution Funded Funded %Per Year based on Balance Balance Straight Line Cash Flow Method

250 513 1.91% 379

[A] [B]

72,332 55,825 100.00% 19,800

[EndBal] [EndBal] ---

[A] [B]

11.41% 33.55%

16

. . '",' '~~ ll-. ,\



Component Listing Section VI

First Draft Included Components Prepared for the 2011 Fiscal Year

o1.ooo- Paving 100 - Asphalt: Sealing

131,600 Sq. Ft. Streets

Useful Life 4 Remaining Life 0 Quantity 131,600 Unit of Measure Square Feet

Cost /SqFt $0.093

% Included 100.00% Total Cost/Study $12,278

Summary Replacement Year 20~0 Future Cost $12,:278

This Is to apply a single coat asphalt emulSion product $UC::h as "As Premiere One". Includes asphalt surface preparation prior to application. Cost estimate includes painting of speed bumps and sealing of common area walkway and the asphalt sewer easement located at east end of E. Tallow Ulne. If the ongoing repairs and sealing is done on a four year cycle, an overlay most likely can be avoided. Square footage, cost estimate and useful life provided by Steve Cash of Aaphalt Systems Co., I.LC

Costing provided by Asphalt Systems Co., LLC

200 - Asphalt: Repairs: On-going

Streets

Useful Life 4 Remaining Life 4

Summary

Quantity 1

Cost /LS $1,500

% Included 100.00%

Replacement Year 2014

Unit of Measure Lump Sum

Total Cost/Study $1,500

Future Cost $1,656

This is for miscellaneous repairs including crackfill, skin patching and minor dig out & fill. Cost estimate and useful life provided by Steve Cash of Asphalt Systems Co., Inc.

Costing provided by Asphalt Systems Co., LLC

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Component Listing Included Components

First Draft


02000 - Concrete 900 - Miscellaneous

Common Area

Summary

Useful Life 5 Remaining Life 0 Quantity 1 Cost /LS $1,000

% Included 100.00%




Future Cost $1,000

Tills is for miscellaneous CQncrete repair to Include sidewalks, curbs, gutters, pitnic area and basketball court as needed.

03000 - Painting: Exterior 150- Stain

Picnic Area Shade Structure

Summary

Useful Life 5 Remaining Life 0 Quantity 1

Cost /LS $800

% Included 100.00%



Total Cost/Study $800

Future Cost $800

This is to paint the shade structure with a premium stain such a Kelly Moore or Sherwin Williams. Preparation includes power washing, masking, covering, sanding, scraping, caulking and filling as needed. Cost estimate, useful life and remaining life by Art Eccles of Eccles Pa

Costing provided by Eccles Painting

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Component Listing First Draft Included Components Prepared for the 2011 Fiscal Year

03000 - Paintinri: Exterior 15i- Stain

Children$ Playground Useful Life 5 Remaining Life 0 Treatment [nr:3]

Quantity 1 Unit of Measure Lump Surn Cost /LS $600

% Included 100.00% Total Cost/Study $600 Summary Replacement Year 2010 Future Cost $600

This is to paint the children'$ wood playground structur• with a premium stain such a Kelly Moore or ShetWin Williams. Preparation includes power washing, masking, covering, sanding, scraping, caulking and filling as needed. Cost estimate, useful life and remaining life by Art Eccles of Eccles


400 - Wrought Iron

1,155 Lin. Ft. Perimeter Fence

Summary

Useful Life 7 Remaining Life 1 Quantity 1,155 Unit of Measure Linear Feet

Cost /I. f. $4.85

% Included 100.00%


Total Cost/Study $5,600 Future Cost $5,740

This Is to paint the wrought iron fencing with a premium direct to metal product. Preparation Includes sanding, scraping and primer as necessary. Cost estimate and useful life provided by Art Eccles of Eccles Painting.

Linear footage is approximate based on measurements by BRG.


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03000 - Painting: Exterior 450 - Wood Fencing

Amity Road Fence

Useful Life 3 Remaining Life 3 Quantity 1 Unit of Measure Lump Sum

Cost /LS $1,000


Summary Replacement Year 2013 Future Cost $1,077

This is to prep and stain the l.x6 dog eared wood cedar fence installed in 2010 with a nrEJmi,um Messmer's UV or equal. Cost estimate and useful life provided by Max McCammon of

Costing provided by Falling Star LLC

451 - Wood Fencing

East Perimeter Fencing

Summary


Cost /LS $1,000

%Included 100.00%



Future Cost $1,160

This is to prep and stain the east perimeter fence starting three years from installation projected in 2013. Product to be a premium wood stain such as Messmer's UV or equal. Cost estimate and useful life provided by Max McCammon of Falling Star LLC.


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.Component Listing First Draft Included Components Prepared for the 2011 Fiscal Year

03t:ioo - .Paiiiting: Exterior 452 - Wood Fencing

West Perimeter Fencing

Summary


Cost /LS $1,000

% Included 100.00%




Future Cost $i,249

This Is to prep and stain the west perimeter fence starting three years from installation projected In 2016. Product to be a premium wood stain such as Messmer's UV or equal. Cost estimate and useful life provided by Max McCammon of Falling Star LLC.


500 - Light Poles

15 Street Lights

Summary

Useful Life 7 Remaining Life 2 Quantity 15 Unit of Measure Items

Cost /Itm $40.00

% Included 100.00%



Future Cost $630

This is to prep and paint the light poles with a premium direct to metal product. Cost estimate and useful life provided by Art Eccles of Eccles Painting.


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o4ooo - StructuriJI R.epiJirs 970 - Mailboxes

5 Cluster Mailboxes - One Half

Summary

Useful Life 25 Remaining Life 20 Quantity S Unit of Measure Items

Cost /Itm $1,350

% Included 100.00%



Future Cost $11,061

Thi$ is to replace one half of the cluster mailboxes.

Costing provided by Mailboxichange

971 - Mailboxes

5 Cluster Mailboxes - One Half

Summary


Cost /Itm $1,350

% Included 100.00%



Future Cost $11,621

This is to replace one half of the cluster mailboxes.

Costing provided by Mailboxichange

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Component Listing First Draft Included Components Prepared for the 201.1. Fiscal Year

1.7soo- llasket:ball 1 Sport court 900 - Miscellaneous

2 Basketball Court


Cost /LS $750


Summary Replacement Year 2025 Future Cost $2,172

This is to remove and replace both backboards and rims. Cost estimate and useful life provided by Tom Nicotera of Institutional Basketball Systems.

18000- Landscaping

100 - Irrigation: Misc.

Landscaping

Summary


Cost /LS $1,500

% Included 100.00%




Future Cost $1,615

This is for major repairs to the irrigation components in excess of the operating budget. Includes replacement of 4 time clocks, 3 backflow preventer valves, miscellaneous valves and underground pvc piping as needed. Cost estimate provided by Travis Krahn of Big Sky Outdoor Co.

Costing provided by Big Sky Outdoor Company

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1.8000- Landscaping

400- Turf Renovation

Landscaping

Summary


Cost /LS $5,000

% Included 100.00%



Future Cost $6,400

This is for renovating the common area turf utilizing a sod cutter, replacing top soil and sod as needed. Cost estimate and useful life provided by Travis Krahn of Big Sky Outdoor cnrnm~nv


420 - General Repairs/Upgrades

Landscaping

Useful Life 5 Remaining Life 5

Summary

Quantity 1

Cost /LS $3,000

% Included 100.00%




Future Cost $3,394

This is to have funds in excess of the operating budget for miscellaneous plantings, removals and other work as directed by the association. Cost estimate provided by Travis Krahn of Big Outdoor rnr,.,n:~nv


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:zsooo - l.alldscaplng 490 - Bark Replacement

Landscaping

Summary


Cost /LS $3,000

% Included 100.00%




Future Cost $3,075

This is for replacing landscape bark in the bedding areas. Cost estimate provided by Travis Krahn of Big Sky Outdoor Company.


500 - Tree Maintenance

Landscaping

Summary


Cost /LS $2,000

% Included 100.00%




Future Cost $2,263

This is to prune, remove and replace trees as needed to enhance the association's landscaping and to avoid branch and root damage to nearby objects. This is in excess of the operating budget. Cost estimate provided by Travis Krahn of Big Sky Outdoor Company.


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Jsooo- Fenctng 340- Wood: 6'

820 Lin. Ft. Amity Road Fence

Summary

Useful Life 20 Remaining Life 0 Quantity 820 Unit of Measure Linear Feet

Cost /I. f. $16.30

% Included 100.00%



Future Cost $13,366

This is to replace the lx6 wood fencing including discarded fence material removal and disposal. Fence was replaced in 2010 at above cost. Cost and useful life provided by Max McCammon of Fallng Star LLC.



341 - Wood: 6'

855 Lin. Ft. West Perimeter Fencing

Summary


Cost /l.f. $20.00

% Included 100.00%



Future Cost $18,415

This is to replace the lx3 6' wood fencing including discarded fence material removal and disposal. Replacement fence to be 1x6 dog eared cedar with galvanized pipe supports. Cost estimate provided by Max McCammon of Fallng Star LLC.



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Jsooo- Fencing

342- Wood: 6'

930 Lin. Ft. East Perimeter Fencing

Summary


Cost /I. f. $20.00

% Included 100.00%



Future Cost $21,570

This is to replace the 1x3 wood fencing including discarded fence material removal and disposal. Replacement fence to be 1x6 dog eared cedar with galvanized pipe supports. Cost estimate and useful life provided by Max McCammon of Fallng Star LLC.



20000 - Lighting

200 - Street Lights

15 Street Lights (13.3%)

Summary


Cost /ltm $1,650

% Included 13.33%


Qty * $/Itm $24,750


Future Cost $5,822

This is to replace a percentage of the association street lights. Since the core light standard and fixture useful life exceeds the scope of this study, this component is for partial replacement only.

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21ooo - Signage 792 - Monument

2 Rock Monument Signs

Summary


Cost /Itm $600

% Included 100.00%



Future Cost $1,261

This is to have the monument sign lettering removed, prepped and painted then re-installed. Cost estimate and useful life provided by Craig Lunsford of Young Electric Sign Company.

Costing provided by Young Electric Sign Company

26000 - Outdoor Equipment

100- Tot Lot

Childrens Playground

Summary

Useful Life 20 Remaining Life 15 Treatment [nr: 1] Quantity 1 Unit of Measure Items

Cost /Itm $6,000

% Included 100.00%



Future Cost $8,690

This is to replace the playground equipment. Since there are multiple choices of construction material and designs. This item can be further defined with association input.

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Component Listing First Draft

Included Components Prepared for the 2011 Fiscal Year

26000 - Outdoor Equipment

840 - Shade Structure

Picnic Area Shade Structure (15%)

Summary


Cost /LS $10,000

% Included 15.00%



Qty * $/LS $10,000


Future Cost $2,172

This is for periodic repairs/replacement of wood portions of the shade structure. Since the wood components will not fail simultaneously, this component provides for fifteen percent replacement every three years beginning in fifteen years, 2025.

30000- Miscellaneous 170 - Storm Drains

Storm Drains

Summary


Cost /LS $1,500

% Included 100.00%



Future Cost $2,781

This is to have funds to repair/maintain the storm drains as needed.

31000- Reserve Study

100 - 3 Year Update with Site Visit

Reserve Study

Summary


Cost /LS $850

% Included 100.00%




Future Cost $915

This is for the 3 year full study which includes a visual observation of the accessible reserve components.

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320tJo - undesi"iJirated

100 - Miscellaneous

Common Area


Summary

Cost /LS $500

% Included 100.00%

Replacement Year 2011 Total Cost/Study $500

Future Cost $512

This is to have funds available for costs of repairs, replacement or maintenance of smaller reserve components such as:

Paint 8 fire hydrants @ $30 ea; Paint 10 mailbox clusters@ $35 ea; Replace landscape light fixtures @ monument signs; Replace barbecue; Replace miscellaneous signs; Minor playground equipment repairs; Re-stripe basketball court; Maintain/replace small wood structure for irrigation controller; Replace basketball nets; Paint utility boxes;

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Component Tabular Listing Included Components

Current Useful Remaining Unit of Component Replacement Cost Life Life Quantity Measure

OlOOO - Paving 100 - Asphalt: Sealing $12,278 4 0 131,600 Square Feet

200 - Asphalt: Repairs: On-going $1,500 4 4 1 Lump Sum

02000 - Concrete 900 - Miscellaneous $1,000 5 0 1 Lump Sum

03000 - Painting: Exterior 150- Stain $800 5 0 1 Lump Sum

151- Stain $600 5 0 1 Lump sum

400 - Wrought Iron $5,600 7 1 1,155 Linear Feet

450 - Wood Fencing $1,000 3 3 1 Lump Sum



500 - Light Poles $600 7 2 15 Items

04000 - Structural Repairs 970 - Mailboxes $6,750 25 20 5 Items

971 - Mailboxes $6,750 25 22 5 Items

l7500- Basketball I Sport Court 900 - Miscellaneous $1,500 20 15 2 Lump Sum

lBOOO- Landscaping 100 - Irrigation: Misc. $1,500 3 3 1 Lump Sum

400 - Turf Renovation $5,000 15 10 1 Lump Sum

420 - General Repairs/Upgrades $3,000 5 5 1 Lump Sum

490 - Bark Replacement $3,000 3 1 1 Lump Sum

500 - Tree Maintenance $2,000 5 5 1 Lump sum,

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Section VII First Draft


Location

Streets

Streets

Common Area



Perimeter Fence

Amity Road Fence



Street Lights

Cluster Mailboxes - One Half


Basketball Court

Landscaping

Landscaping

Landscaping

Landscaping

Landscaping

31

Component Tabular Listing Included Components

Component

19000 - Fencing

340 - Wood: 6'

341 - Wood: 6'

342 - Wood: 6'

20000 - Lighting 200- Street Lights

21000 - Signage

792 - Monument

26000 - Outdoor Equipment 100- Tot Lot

840 - Shade Structure

30000 - Miscellaneous 170- Storm Drains

31000 - Reserve Study 100 - 3 Year Update with Site Visit

32000 - Undesignated 100 - Miscellaneous

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Current Replacement Cost

$13,366

$17,100

$18,600

$3,299

$1,200

$6,000

$1,500

$1,500

$850

$500

Useful Remaining Unit of Ufe Ufe Quantity Measure

20 0 820 Linear Feet



1 23 15 Items

7 2 2 Items

20 15 1 Items

5 15 1 Lump Sum

30 25 1 Lump Sum

3 3 1 Lump Sum

2 1 1 Lump Sum


First Draft

Prepared for the 2011 Ascal Year

Location

Amity Road Fence



Street Lights

Rock Monument Signs



Storm Drains

Reserve Study

Common Area

32

. . ~,:,:~ ' ,o • r~~~: Trailside Place Homeowners Association

,, '·,

BROWNING RESERVE GROUP Expenditures by Year For1 Year

Life

Section VII-a First Draft


Cutrent Forecast

Reserve Component Useful Replacement Cost Inflated Cost@ 2.50%

2010

01000 - Paving

100 -Asphalt: Sealing {131,600 Sq. Ft. Streets} 4

o2ooo - Concrete

900 - Miscellaneous {Common Area}

03000 - Painting: Exterior

150 -stain {Picnic Ar-ea Shade Structure}

151- Stain {Childrens Playground}[nr:3J

19000 - Fencing

340 -Wood: 6' {820 Lin. Ft. Amity Road Fence}

5

5

5

Total 03000- Painting: Exterior:

20

Total 2010:

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Trailside Place Homeowners Association ©Browning Reserve Group 2010

12,278

1,000

800

600

1,400 1,400

13,366

28,044

33

"L . •:,:;, . ~~~(' Trailside Place Homeowners Association

,,, BROWNING RESERVE GROUP

Directory of Reserve Study Contractors

Asphalt Systems co., LLC Steve Cash BOISE, IO 83719

01000 - Paving

100 ... Asphalt: Sealing

200- Asphalt: Repairs: On-going

Big Sky outdoor Company Travis Krahn P. 0. Box 1034 Meridian, IO 83680

1sooo- l.itndscapinii

100- Irrigation: Misc.

400 - Turf Renovation

420 - General Repairs/Upgrades

490 - Bark Replacement

soo - Tree Malrltenance

Eccles Paintiilg Art Eccles 450 W. Grove Street Boise, to 83702

030oo - Painting: Exterior

150- Stain

Phone: (208) 362-6525

Streets

Streets

Phone:(208) 284-5431

Landscaping

Landscaping

Landscaping

Landscaping

Landscaping

Phone:(208} 338-7763


License#:

License#:

License#:

150 .. Stain Picnic Area Shade Structure

400 - Wrought Iron

500 • Light Pole$

Falling Stat LLC

Max Mc:cammon 3512 s. Montana Caldwell, ID 83605

03000 - Painting: Exterior

450 • wood Fencing

450 - wood Fencing

450 - wood Fencing

16:22 05/211/2010 12f$4.0.22.

Perimeter Fence

Street Lights

Phone: (208) 841~2474

Amity Road Fence



VersiOI\ 5{1.6{1.010 5;2$:40 PM © Browning Reserve Group 20l0

License#:

Section IX First Draft


34

Directory of Reserve Study Contractors

19000- Fencing

340- Wood: 6'

340 .. wood: 6'

340- wood: 6'

Mallboxichange

UNKNOWN,CA XXXXX

o4ooo - sti'iii:turat Repairs

970 - Mailboxes

970 - Mailboxes

Young Eleetfic Sign Company Craig Lunsford 416 E. 41st Street Boise, lO 83714

21000- Si{Jitage

792- Monument

Amity R,oad Fence

'East Perimet~r Fencing


Phone:(800) 448-2870 License 1/::

Cluster MailbOxes • One Half


Phone: (208) 345-2982 License#:

~ock Monument Signs

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First Draft


35


BROWNING RESERVE GROUP Section X

Notes to the Auditor First Draft


This report is intended to assist the auditor while preparing the audit, review or cornpllatlon of Trailside Place Homeowners Association's (the "Association") financial documents.

Browning Reserve Group ("BRG") prepared a reserve study for the Association during the 2010 fiscal year. This was done to help determine the Association's reserve contribution for the next fiscal year (2011) and future fiscal years. In addition, BRG prepared the proper statutory disclosures for diStribution to the Association members.

This Reserve Study is a Full Study. This study is a Full Study which inCludes an on~site review upon where the following tasks are performed:

• development of a reserve component inventory; • condition assessment based upon on-site visual observation; • life and valuation estimates; • fund status; • and a funding plan. Please note, in order to complete these study tasks, one or more

visits were conducted by BRG to Trailside Place Homeowners Association.

For BRG reserve studies, the year tn which the study is being conducted, Is the first year of the study. For example, this study is being prepared during 2010 and is the Association's first year in the study. This enables BRG to use a starting polnt which ties to the fast audited financial statement, December 31, 2009. You will notice in Section Ill, Reserve fund. Bidii.Dce fprt£.ut, a Beginning Reserve Balance of $0 is being used which ties to the last completed audit or review of the Association's financial statements. BRG then re-builds the first year of the study, in this case 20101 and estimates an ending reserve fund balance. Again, see Section III and the 2010 ending reserve balance estimate of $8,256.

"Re.,.building" the first year of the study as mentioned above simply means using the 2010 adopted budget for the 2010 reserve contribution. Finally, the 2010 reserve expenses both actual and projected are estimated.

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Notes to the Auditor First Draft


We find by using the above method a more accurate reserve study is possibte because the beginning reserve fund balance ties directly to the Association's audited financial statement or, in the absence of an audit or review, the year end balance sheet. There Is no need to rely on others for determining mid year reserve balances or estimating current year ending reserve balances. This approach forces all involved, to look at the current year's reserve fund activities so a more accurate ending reserve fund balance can be estimated.

With respect to the reserve component Information on the next page/s, here are the calculations:

FFB = Current Cost X Effective Age 1 Useful Life

% Funded = FFB 1 Fkst Year Estimated Ending Reserve Balance

Please see section V: .. R§sfUXt: fi.I.J1rl Balance Fom£ast·

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Trailside Place Homeowners Association ©Browning ReseTVe Group 2010 37

. . ,:,:: " ' . ;,

~~'(

>,

llROWNING RESERVE GROUP

Trailside Place Homeowners Association Schedule of Supplementary Information for Auditor

Component Method First Draft

Prepared for the 2011. Fiscai Year

20.11 Line Item 20,10 Fully 2011 Fully Contribution

Current Useful Remaining Funded Funded based on

Reserve Component Rep/. Cost Ufe Life Balance Balance cash Flow Method

01000 - Paving 100- Asphalt: Sealing {131,600 Sq. l't. Streets} 12,278 4 0 12,278 3,146 4,535 200 , Asphalt: Repairs: 01'1-golng {Streets} 1,500 4 4 300 384 4$9

02000 - Concrete 900 - MisCellaneous {Common Area} 1,000 5 0 1,000 205 2i:J5

03000- Painting: Exterior 150 • Stain {Picnic Arei!l Shade Structure} 800 s 0 800 164 236 151 - Stain {Chlldrens Playground}[nr:3] 600 5 0 600 123 177 400 • Wrought Iron {1,155 Un. A:. Perimeter fence} 5,600 7 l 4,800 5,740 1,211 450 - Wood Fencing {Amity Road Fence} 1,000 3 3 250 342 398 451· Wood Fencing {East Perimeter fencing} 1,000 3 6 143 171 245 452 - Wood Fencing {West Perimeter Fencing} 1,000 3 9 100 114 184 soo • Ught Poles {15 Strt~et lights} 600 7 2 429 527 133

04060 • Structural Repairs 970 • Mailboxes {5 Clust.w Mailboxes • One Half} 6,'750 25 20 1,350 1,661 654 971 • Mailboxes {5 Cluster Mailboxes • One Half} 6,750 25 22 810 1,107 687

17500 • Basketball/ Sport Court 900 - Miscellaneous {2 Basketball Court} 1,500 20 15 375 461 160

18000 - Landscaping 100 • liTigation: Misc. {landscaping} 1,500 3 3 375 513 597 400 - Turt RenovatiOn {landscaping} 5,000 15 10 1,667 2,050 630 420 • General Repairs/Upgrades {landscaping} 3,000 5 5 500 615 836 490 • 13ark Replaooment: {landscaping} 31000 3 1 ~,000 3,075 1,514 500 - Tree Maintenance {Landscaping} 2,000 5 5 333 410 557

19000 - Fencing 340 ·Wood: 6' {820 Un. Ft, Amity Road Fence} 13,366 20 0 13,366 685 987 341· Wood: 6' {855 Lin. Ft. west Perimeter Fencing} 17,100 20 3 14,535 15,775 1,360 342 ·Wood: 6' {930 Un. Ft. East Perimeter Fencing} 18,600 20 6 13,020 14,299 1,593

20000- Lighting 200 • Street lights {15 Street lights (13.3%}} 3,299 1 23 137 147 358

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Trailside Place Homeowners Association Schedule of Supplementary Information for Auditor

Component Method First Draft

Prepared for the 20{1 Fiscal Year

Current ReseNe Component Repi. Cosi:

21000 - Signage 79~ - Monument {2 Rock Monument Signs} 1,200

26000 - Outdoor Equipment ioo- Tot Lot {Childrens Playground}[nr:l] 6,000 849 • Shade Structure {Picnic Area Shade Str\lc:ture 1,SOO (15%)}

30000 - Miscellaneous 170 ·Storm Drains {storm Drains} l,Soo

31000 - Reserve Study 100 - S Year Update with Site Visit {Re$et'le Study} 850

3:2()o() - Unilesignated 100 ·Miscellaneous {Commt:ill Area} soo

Totals 118,793

Percent Funded

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Useful Remaining Life Life

7 2

20 15

5 15

30 25

3 3

2

2011 Line Item 2010 Fully 2011 FUlly Contribution

Funded Funded based on Baiance Balance cash rtOw MethOd

857 1,054 266

1,500 1,845 642

94 103 .201

250 308 137

213 290 338

250 513 379

[A] [B]

72,332 55,825 19,800 [EndBal] [EndBai]

[A] [B)

11.41% 33.55%

39

,, . . ';,;,~ • ~f~: Trailside Place Homeowners Association

'' ',

BROWNING RESERVE GROUP Section XI

Glossary of Reserve Study Terms

First Draft


Terms 8t Definitions CASH FLOW METHOD: A method of developing a Reserve Funding Plan where contributions to the Reserve fund are designed to offset the variable annual expenditures from the Reserve fund. Different Reserve Funding Plans are tested against the anticipated schedule of Reserve expenses untU the desired Funding Goat is achieved.

COMPONENT INVENTORY: The task of selecting and quantifying Reserve Components. This task can be accomplished through on~stte visual observations, review of association design and organizational documents, a review of established association precedents, and discussion with appropriate association representative(s) of the association or cooperative.

COMPONENT METHOD: A method of developing a Reserve Funding Plan where the total contribution is based on the sum of contributions for individual cornponents. See "Cash Flow Method.

COMPONENT: The indiVidual Une items lri the Reserve Study, developed or updated In the Physical Analysis. These elements form the building blocks for the Reserve Study. components typically are: 1) Association responsibility, 2) with limited Useful life expectancies, 3) predictable Remaining Useful Life expectancies, 4) above a minlinum threshold cost, and S) as required by local codes.

CONDITION ASSESSMENT: The task of evaluating the current condition of the component based on observed or reported characteristics.

CURRENT R.E:PLACEMENT COST: See "Replacement Cost."

DEFICIT; An actual (or projected) Reserve Balance Jess than the futly Funded Balance. The opposite would be a Surplus.

EFFECTIVE AGE: The difference between Useful life and Remaining Useful life. Not always equivalent to chronological age, since some components age irregularly. Used primarily Jn computations.

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First Draft

Prepared for i:he 2011 Fiscal Year

FINANCIAL ANALYSIS: The portion of a Reserve Study where current status of the Reserves (measured as cash or Percent funded) and a recommended Reserve contribution rate (Reserve Funding Plan) are derived, and the projected Reserve income and expense over time Is presented. The Financial Analysis Is one of the two parts of a Reserve Study.

FULLY FUNDED BALANCE (FFB): Total Accrued Depreciation. An indicator against which Actual (or projected) Reserve balance can be compared. The Reserve balance that is in direct proportion to the fraction of life "used up" of the current Repair or Replacement cost. This number is calcufated for each component, then summed together for an association total. Two formulae can be utilized, depending on the provider's sensitivity to interest and inflation effects. Note: Both yield identical results when interest and Inflation are equivalent.

FFB = Curr$1lt Cost X Effective Age I Useful Life or

FFB =(Current Cost X Effective Age I usefull.ife) + [(Current Cost X Effective Age 1 useful Life) 1 (1 +Interest Rate) A Remaining Life]~ {(Current Cost X Effective Age 1 useful Ufe) 1 (1 + Jnflatlon Rate) A Remaining life}

FULLY FUNDED: 100% Funded. When the actual (or projected) Reserve balance is equal to the fully Funded Balance.

FUND STATUS: The status of the reserve fund as compared to an established benchmark such as percent funding. ·

FUNDING GOALS: Independent of methodology utilized, the following represent the basic categories of Funding Plan goals:

Baseline Fyhding: Establishing a Reserve funding goal of keeping the Reserve cash balance above zero.

Full Funding: Setting a Reserve funding goal of attaining and maintaining Reserves at or near 100% funded.

Statutory Funding: Establishing a Reserve funding goal of setting aside the specifiC minimum amount of Resenres required by local statues.

Threshold Funding: Establishing a Reserve funding goal of keeping the Reserve balance above a specified dollar or Percent funded amount. Depending on the threshold, this may be more or less conservative than ''Fully Funding."

FUNDING PLAN: An association's plan to provide income to a Reserve fund to offset anticipated expenditures from that fund.

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First Draft

Prepared for the 2011 Fiscai Year

FUNDING PRINCIPLES: • Sufficient Funds When Required • Stable Contribution Rate over the Years • Evenly OlstrJbuted Contributions over the Years • Fiscally Responsible

LIFE AND VALUATION ESTIMATES: The task of estimating Useful Life, Remaining Useful Life, and Repair or Replacement Costs for the Reserve components.

PERCENT FUNDED: The ratio, at a particular point Of time (typically the beginning of the Fiscal Year), of the actual (or projeCted) Reserve Balance to the Fully Funded Balance, expressed as a percentage.

PHYSICAL ANALYSIS: The portion of the ReserVe Study where the Component Inventory, Condition Assessment, and Ufe and Valuation estimate task$ are performed. This represents one of the two parts of the Reserve Study.

REMAINING USEFUL. LIFE (RUL): Also referred to as ''Remaining Life" (RL). The estimated time, in years, that a reserve component can be expected to continue to serve its intended function. Projects antic:Jpated to occur In the initial year have "zero" Remaining Useful Life.

REPLACEMENT COST: The cost of replacing, repairing, or restoring a Reserve Component to its original functional condition. The Current Replacement Cost would be the cost to replace, repalr, or restore the component during that particular year.

RESERVE BALANCE: Actual or projected funds as of a particular point in time that the association has identified for use to defray the future repair or replacement of those major components which the association is obligated to maintain. Also known as Reserves, Reserve Accounts and Cash Reserves. Based upon information provided and not audited.

RESERVE PROVIDER: An individUal that prepares Reserve Studies.

RESERVE STUDY: A budget planning toot which 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 consists of two parts: the Physical Analysis and the Financial Analysis. "Our budget and finance committee is soliciting proposals to update our Reserve Study for next year's budget.

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Glossary of Reserve Stqdy Terms

First Draft


RESPONSIBLE CHARGE: A reserve specialist in responsible charge of a reserve study shall render regular and effective superviSion to those individuals performing services which directly and materially affect the quality and competence rendered by the reserVe specialist. A reserve specialist shall maintain such records as are reasonably necessary to establish that the reserve specialist exercised regular and effective supervision of a reserve study of which he was in responsible charge. A reserve specialist engaged in any of the following acts or practices shall be deemed not to have rendered the regular and effective superVision required heretn:

1. The regular and continuous absence from principal office premises from which professional serVices are rendered; expect for performance of field work or presence In a field office maintained exclusively for a specific project;

2. The failure to personally Inspect or review the work of subordinates where necessary and appropriate;

3, The rendering of a limited, cursory or perfunctory review of plans or projects in lieu of an appropriate detailed review;

4. The failure to personally be avalfable on a reasonable basts or with adequate advance notice for consultation and inspection where circumstances require personal availability.

SPECIAL ASSESSMENT: An assessment levied on the members of an association in addition to regular assessments. Special Assessments are often regulated by governing documents or local statutes.

SURPLUS: An actual (or projected) Reserve Balance greater than the FulJy funded Balance. See "Deficit."

USEFUL. LIFE (Ul): Total Useful Ufe or Depreciable Life. The estimated time, in years, that a reserve component can be expected to serve its intended function if properly constructed in its present application or Installation.

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May 26, 2010 First Draft

Idaho Homeowner Summary

This is a summary of the Reserve Study that has been perfonned for Trailside Place Homeowners Association, (the "Association"). ThJs study was done ln compliance with applicable professional standards and Is being provided to you, as a member of the Associatlon1 as prescribed under these standards. A complete Reserve Study copy is available (through the Association) for review by members of the Association.

The intention of the Reserve Study Is to forecast the Association's ability to repair or replace major components as they wear out in future yearS. This is done utilizing the "Cash Flow Method." This Is a method of developing a reserve funding plan where the contributions to the reserve fund are designed to offset the variable annual expenditures from the reserve fund.

Browning Reserve Group prepared this Full Study for the January 1, 2011 - December 31, 2011 fiscal year.

Trallslde Place Homeowners Association is a Planned Development with a total of 110 LotLots.

At the time this summary was prepared, the assumed long-tenn before-tax interest rate earned on reserve funds was Zero% per year, and the assumed tong-term inflation rate to be applied to major component repair and replacement costs was 2.5% per year.

The Reserve Study is not an engineering rep4)rt. The costs outlined In the study are for budgetary and planning purposes only. Actual bid costs would depend upon the defined scope of work at the tirne repairs are made. Also, any latent defects are excluded from this report. lt should be noted that no destructive testing was performed.

Funding Assessment

Based on the 30 year cash flow projection, the Association's reserves appear adequately funded as the reserve fund ending balances remain pOsitive throughout the replacement of all major components during the next 30 years.

Idaho statute Imposes JlQ re$erve funding level requirements nor does It address funding level adequacy, and although one or more of the reserve fund percentages expressed in this report may be tess than one hundred percent, those percentages do not nece$sarily Indicate that the Association's reserves are inadequately funded.

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Idaho Homeowner Summary Prepared for the 201.1 Fiscal Year Ti"i1ilside Place Homeowners Association 2011

2010 2011 Line Item Current Fully Fully Contribution

Replacement Useful Remaining Funded Funded based on Reserve Component Cost Life Life Balance Balance Cash Flow Method

otooo- Paving 13,778 4-4 0-4 12,578 3,531 5,034

o2ooo - concrete 1,000 5-5 o-o 1,000 205 295

o3ooo- Painting: Exterior 10,600 3·7 0·9 7,1U 7,181 ~585

0400o - sfruct:iiral Repairs 13,500 25·25 20-22 2,160 2,768 1,340

1.7soo- Basketball 1 Sport 1,500 20 .. 20 15-15 375 461 160 Court liiOOO- Lani:J:ScapifliJ 14,500 3·15 1·10 4,875 6t$&3 4,134

1.9000- Feilctng 49,066 20-20 0-6- 40,921 30,759 3,941

20000 - Lighting 3,2H 1-1 23-23 137 147 358

2lOOO- Sigl1age 1,200 7-7 2·2 857 1,054 266

26ooo - Outdoor Equifiment 7,500 s-ao 15-15 1,594 1,948 842 30000 - Miscellaneous 1,500 30-30 25-25 250 308 137 3lOOO- Reserve Study 850 3-3 3 .. 3 213 290 338

32000 - Undesignated 500 2-2 1-1 250 513 379

Totals $118,793 $:12,332 $55,825 $19,800

Estimated Eriding Balance $8,256 $18,728 $15.00

Percent Funded 11.4% 33.5% /lot/month @ 110

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*See Important footnotes at end of this Section III.

Beginning Balance

Inflated Expenditures @ 2.5%

Reserve Contribution

Lots/month@ 110

Percentage Increase

Special Assessments I Other

Interest Pre Tax @ 0.00%

Ending Balance

Beginning Balance



Lots/month@ 11.0

Percentage Increase

Beginning Balance



Lots/month@ 110

Percentage Increase

Special Assessments I Other

Interest Pre Tax @ 0.00%

Ending Balance

30 Year Reserve Funding Plan Cash Flow Method

2010 2011 2012 2013

0 8,256 18,728 36,637

28,044 9,328 1,891 22,561

19,8001 19,800 19,800 19,800

15.00 15.00 15.00 15.00

0.0% 0.0% 0.0%

16,5002 0 0 0

0 0 0 0

8,2!;6 .... --- _18,728 36,637 33,876

2020 2021 2022 2023

61,278 61,365 80,509 74,584

19,713 656 25,725 4,825

19,800 19,800 19,800 19,800

15.00 15.00 15.00 15.00

0.0% 0.0% 0.0% 0.0%

0 0 0 0

0 0 0 0

2030 2031 2032 2033

128,413 80,909 93,368 89,896

69,140 9,826 26,426 40,055

21,636 22,285 22,954 23,643

16.39 16.88 17.39 17.91

3.{)D,m 3.0% 3.0% 3.0%

0 0 0 0

0 0 0 0

2014

33,876

18,520

19,800

15.00

0.0%

0

0

_.,. 35,156

2024

89,559

0

19,800

15.00

0.0%

0

0

2034

73,484

40,565

24,352

18.45

3.0%

0

0

80,909 93,368 89,~9.6_ _']3,48.4 ___ --~__5_7,270

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2015 2016

35,156 46,018

8,938 26,615

19,800 19,800

15.00 15.00

0.0% 0,0%

0 0

0 0

46,018 - 39,203

2025 2026

109,359 89,693

39,466 27,580

19,800 19,800

15.00 15.00

0.0% 0.0%

0 0

0 0

2035 2036

57,270 42,310

40,044 41,615

25,083 25,835

19.00 19.57

3.0% 3.0%

0 0

0 0

. 42,310 _2§,530

Section III ArstDraft


2017 2018 2019

39,203 54,843 51,032

4,160 23,611 9,554

19,800 19,800 19,800

15.00 15.00 15.00

0.0% 0.0% 0.0%

0 0 0

0 0 0

54,843. 51,032 61,278

2027 2028 2029

81,913 100,952 113,002

761 8,344 5,595

19,800 20,394 21,006

15.00 15.45 15.91

0.0% 3.0% 3.0%

0 0 0

0 0 0

2037 2038 2039

26,530 35,319 22,643

17,821 40,085 19,235

26,610 27,408 28,230

20.16 20.76 21..39

3.0% 3.0% 3.0%

0 0 0

0 0 0

}5,319 22,64:3 31<638

10

A5PHAL. T 5YSTEM5

PROPOSAL 3881

tSealooatlng • Utte Stllpi~ • CriCk SU!IV • Pressure WeahifW • A-PaldingPAGe 1 OF 1 • H$ndlcep Ranps • Snow Removal

TO: Browning. Reserve GroupS Attn: Tony Dann

May 12,2010

P.O. Box633 Emmett, ID 83617

ASPHALT MAINTENANCE WORK ON 131,680 SJF

CLEAN AND PREP EXtSTING ASPHALT Asphalt to be swept prior to applying sealer

SEALCOAnNG

JOB rtWEI.CCATION TrailSide Place

Fax: 2c:J8.385.3158

Apply "AS Premiere One" seatcoat to entire asphalt area (one coat)

STRIPING PACKAGE Restripe parking area as per ortglnallayout

-rhis bid Includes repainting speed bumps and sealing walking patch and small area betWeen houses.

NOTE$ '"Any changes to the work above may affeot Ute proposal amount "Contractor is nat liable for delayS due to weather conditions.

We PNpose lle!vby 1o 6Jmleh "'*"-'end Iabar -~In ~ce 1111111 tie aboveapedloalims, for lhe SIJII of:

Twelve Thausand Two Hundred~ Four and 001100 Dollars

Payment to be made as falklws:

Due upon completion

Nelle: Thls proposal may be withdrawn by ualfnot acoepted wlflln

260.00

11,844.00

180.00

12,27<4.00 t

15 da,s.

~filmS anti COIIdiiDts Blllllltfl on file

backfHIIJf1. PleM,.,. -to stgnlng fills ptfJfJGBSI.

ACCeptanCe of Prapoul - The allova III(CeS, spedlica1ions and condlllons ara satlsfactiHy ll1d are hereby accepted. You n adhorized to do ll!e work aa ~ Pa,ment wil be made. outllnedabcM.

~ .. _____________________________ _

~~~: ----------- ~Mm~-------------------------------

..,.

ECCLES PAINTING INC. 199 N. capitol Blvd. #806 Boi!!e, Idaho 83702 Office: 208-338-7763 Mobile: 208-830-0804 Fax: 208-338-7763 Emalt. 8C91espainll~qwestofflce.net Uce~#RCE-14633

PROPOSAL Contract: Date: 5/1412010

Proposal Submitted To: Work To Be Performed At: Narne:Tonv Trailside Street: Street: CitY: CitY: Telephone Number: {208) 365-0977 Telephone Number: We hereby propose to furnish materials and labor necessary for the completion of:

Exteriot: 1. Detailed staining of park shade structure - $800.00. 2. Detailed staining of all wood on playground equipment- $600.00. 3. Detailed painting of all wrought iron fence (yard border fences not included but entire back canal

fence is included and entire park fence included) - $5,600.00. 4. Detailed painting of a tire hydrant- $30.00per. 5. Detailed painting of a mail box structure - $35.00per. 6. DetaRed painting of a street light pole- $40.00per. 7. Preparation wtll include pressure washing, masking, covering, scraping, sanding, spot priming,

filling and caulking where needed. 8. Community should stain and paint these structures every five to seven years. 9. Produot will be Kelly Moore or Sherwin Williams premium primers, paints and stain. 10. Warranty wDI be one {1) year against defects in coverage and workmanship. 11. Bid includes coupon discount.

Material and work as specified above shall be provided for the sum of: Price:

Payment must be as follows: S=a;;;;:les=::--'-T.=:ax=:-----;-------Total: Down Payment: Balance:

All changes to this contract must be in writing and signed by both customer and Eccles Palntl~. Inc. Extra changes will be on a time and material basis with a labor rate of $ /hr. Any estimate of start and completion dates is contingent upon completion of previously scheduled projects in the order of acceptance.

Respectfully submitted: __ LJ.f ___ ~------Note. This proposal may be withdrawn if not accepted within days.

In the unlikely event that either party brings a lawsuit or arbitration for breach of this contract, the substantially prevailing party shall receive reasonable attorney fees and costs.

ACCEPTANCE OF PROPOSAL The above prices, specifications and conditions are satisfactory and hereby accepted. You are authorized to do the work as specified. Payment will be made as outlined above. ~of Acceptance: -~S~ig~n~ab.l~re~d:..:Cu=st:!:::o::.:m.::::e~r ::...__ __________ _

Signature of Contractor:

RESERVE STUDY - Riverside Management and Settings... · N. Anthony Dann graduated from Cal State...

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Transcript of RESERVE STUDY - Riverside Management and Settings... · N. Anthony Dann graduated from Cal State...