Capital Reserve Studies Edit page

The Condominium Association has received the Statute required Structural Integrity Reserve Study, SIRS and the Non-Structural Integrity Reserve Study, Non-SIRS in a combined report, titled Capital Reserve Study Report.

The Association cannot alter any engineering evaluation, the component estimated replacement value, condition, expected life span, and remaining life span.  Funding reserves is based upon the pooling method which the Association does not currently use and would require membership approval to use. The Association does currently use component funding to fund the reserve items listed in the 2024/25 Budget.  The report expands on the components required by Statute to fund and the Board will be reviewing how best to accomplish and follow the new requirements.

The full report, financial analysis of the both the SIRS and Non-SIRS components, the Component inventory and expenditure tables are available below.