Full Reserve Study For
Amelia Concourse Community Development District
Yulee, Florida

Prepared for FY 2018/2019 Report Date: February 16, 2018

February 16, 2018

Mr. Daniel Laughlin Assistant District Manager
Governmental Management Services, LLC 475 West Town Place, Suite 111
St. Augustine, FL 32092

Re: Reserve Study Report for Amelia Concourse Community Development District Dear Mr. Laughlin:
Community Advisors is pleased to provide this Reserve Study report for the above referenced District. A site visit was conducted to determine the condition of your major components and project their remaining useful life. We recommend an update with a site visit every two to three years unless changes in inventory or component inventory have occurred.

We have developed a plan to fund future capital component replacement which is dependent on adequate funding, component maintenance, usage, weather and other factors. Component replacement cost is determined using local vendors and industry standard publications. This Reserve Study was prepared under the guidelines of the National Reserve Study Standards which is administrated by the Community Association Institute and the Standards of Practice established by the Association of Professional Reserve Analyst.

Once you have reviewed this report and considered recent expenditures and any historic cost data we will make necessary adjustments. Thank you for this opportunity and please let me know if you have any questions or concerns.

Respectively submitted,

Charles R. Sheppard RS PRA CCI
Professional Reserve Analyst

10459 Hunters Creek Court Jacksonville, FL 32256
(904) 303-3275
www.communityadvisors.comm

TABLE OF CONTENTS
Amelia Concourse Community Development District

PART I EXECUTIVE SUMMARY
Cash Flow Method Summary 	1-1

PART II FINANCIAL PLAN
Cash Flow Funding Plan 	2-1 Annual Asset Expenditure Charts 	2-2 Cash Flow 	2-3
PART III EXPENDITURES
Asset Current Cost by Category 	3-1 Annual Expenditure Detail 	3-2
PART IV COMPONENT INVENTORY & INFORMATION
Component Inventory 	4-1 Component Detail Index 	4-3 Component Detail 	4-5
PART V METHODOLOGY & ASSUMPTIONS
Methodology 	5-1
Definitions 	5-3

PART VI TERMS OF SERVICE
Terms of Service 	6-1

PART VII - COMPANY PROFILE
Company Information 	7-1 Credentials 	7-2

Report Navigation
Your report has been prepared by a Reserve Analyst certified by both CAI and APRA which includes information about your components, financial status and provides a plan for future capital replacement cost. Content of each section is found below.
Table of Contents will guide you to each section
Project Assumptions & Notes contains information specific to your property, components not included and other useful information.
The Executive Summary provides a snap-shot of your information that includes inflation and interest rates, annual increases to assessment, reserve fund beginning balance and required contributions. Also in the body of the page is a property description and other valuable information.
Funding Plan is your financial plan and includes replacement cost, necessary contributions, interest earned, expenditures, year ending reserve balance, fully funded reserves and percent funded.
Annual Asset Expenditure Charts provide a graphic illustration of expenditures and assessments. We try and make the assessments moderate and fairly level over time with slight increases.
Funding Plan vs Fully Funded chart is a graphic illustration of how your funding plan compares to a fully funded level. With Cash Flow Funding, it is not necessary to be fully funded as the chart shows but somewhere close to that figure over time is desired.
Cash Flow is a 30-year statement that provides both income and expense information to quickly find when expenditures occur and the resulting financial status of your reserves.
Asset Current Cost by Category chart indicates where the replacement cost occurs by category such as painting, paving and roofing.
Annual Expenditure Detail provides a year to year list of your projected expenditures. This is a good section to review each year when preparing your budgets.
Component Inventory contains a list of your components, remaining useful life and quantities, we determined from our site visit and other means of measurement.
Component Detail Index allows quick access to the detail we have included for each component separated into categories.
Component Detail provides a listing of each component, quantities or allowances and photographs of major ones.
Methodology - Terms of Service – Company Profile are our Disclosure sections with information about our assumptions, methods of work, what we agree to do and our credentials.

General Information

Project Notes & Assumptions

Some components have an unpredictable useful life which is dependent on original construction quality, maintenance procedures, amount of use and wear or for exterior components, the additional factor of exposure to the elements. Other components may be replacement over time due to varying condition for the same component or the Association has planned to fund this over time because of cost.
For these components, we often apply an allowance. Once we identify these components the Association should monitor annual repair and maintenance cost, so allowances can be adjusted at the next update.
Annual inspection by professional consultants of major components is recommended to extend the useful life of components and reduce operating cost. Cleaning, repair and regular maintenance should be completed based on these inspections. Recommended components include site concrete, roofing, gutters, paving, siding, painting, window and door sealants and other components as necessary.
Property Specific Information
We assume all pool areas will be resurfaced at one time.
Useful life of play equipment is dependent on use and weather. Replacement cost can vary with equipment selected therefore an allowance has been included for this component.
Pool deck pavers will experience wear over time therefore the cost for replacement has been included. The District may elect to not reserve for this large expenditure until future years.
Clubhouse and pool furniture useful life is dependent on use therefore an allowance has been included.
Vinyl privacy fence included in this analysis is limited to Amelia Concourse.

Components not included in this analysis
Storm water pipe and structures
Pond engineering evaluation or dredging and pond fountains
Sidewalk, curb, swale total replacement
Monument sign lighting and wiring
Main utility lines
Electrical transformers and connecting lines to buildings
Building foundations and frames
Building siding and trim, windows and doors
Utility lines within structures
Common water, sewer and vent
Electrical panels
Telephone and cable lines
Fire protection systems
Pool shell

Yulee, Florida
Cash Flow Method Summary

Report Date

February 15, 2018

Budget Year Beginning Budget Year Ending

October 01, 2018
September 30, 2019

Report Parameters

Inflation
Annual Assessment Increase Interest Rate on Reserve Deposit

3.00%
2.00%
1.50%

2018 Beginning Balance

$50,000

Amelia Concourse Community Development District is located in Yulee Florida and has as its major components, fencing, gates, pool, and clubhouse. Components observed appear in fair to good condition with exceptions noted in this report.

The funding goal for the Association is adequate funding using the Cash Flow Funding Method to determine required contributions and the District will begin FY 2018/2019 underfunded. A one time “catch up” amount has been applied to allow a moderate contribution that rises annually and prevents increases and decreases in necessary contributions.

Some components may be repaired to extend their remaining useful life, and which results in changes to the current funding plan. The recommended funding plan is located on page 2-1 which provides adequate funding assuming proper maintenance and annual updates to this study. Regular updates include changes in component condition, interest rates and reserve fund balances.

Threshold Funding Model Summary of Calculations

Required Annual Contribution Average Net Annual Interest Earned Total Annual Allocation to Reserves

$35,227.47
  $1,338.41
$36,565.88

Cash Flow Funding Plan

Beginning Balance: $50,000

Year	
Current Cost	
Annual Contribution	
Annual Interest	
Annual Expenditures	Projected Ending Reserves	Fully Funded Reserves	
Percent Funded	
18-19		6,000	Catch Up					
18-19	399,384	35,227	1,338	2,000	90,566	262,951	34%	
19-20	411,366	35,932	1,696	13,400	114,794	282,248	41%	
20-21	423,706	36,651	1,029	82,827	69,647	232,158	30%	
21-22	436,418	33,659	1,481	4,589	100,198	261,982	38%	
22-23	449,510	34,332	1,616	26,787	109,359	270,665	40%	
23-24	462,996	35,019	1,227	62,601	83,004	243,662	34%	
24-25	476,885	35,719	1,745	2,388	118,080	278,749	42%	
25-26	491,192	36,434	2,200	7,871	148,842	310,148	48%	
26-27	505,928	37,162	2,543	16,481	172,067	334,555	51%	
27-28	521,106	37,906	2,128	68,109	143,991	307,480	47%	
28-29	536,739	38,664	2,700	2,688	182,666	347,967	52%	
29-30	552,841	39,437	2,951	25,359	199,695	367,339	54%	
30-31	569,426	40,226	3,513	5,703	237,731	408,589	58%	
31-32	586,509	41,030	4,137	2,937	279,962	455,009	62%	
32-33	604,104	41,851	1,127	246,693	76,247	252,869	30%	
33-34	622,227	42,688	1,382	26,813	93,504	272,290	34%	
34-35	640,894	43,542	2,008	3,209	135,843	317,789	43%	
35-36	660,121	44,412	2,605	6,611	176,249	362,367	49%	
36-37	679,925	45,301	3,272	3,405	221,417	412,842	54%	
37-38	700,322	46,207	1,327	179,140	89,811	285,116	31%	
38-39	721,332	47,131	2,000	3,612	135,330	335,685	40%	
39-40	742,972	48,073	1,300	96,735	87,968	293,226	30%	
40-41	765,261	49,035	1,624	28,761	109,866	320,920	34%	
41-42	788,219	50,016	2,339	3,947	158,273	376,459	42%	
42-43	811,865	51,016	3,078	4,066	208,302	435,041	48%	
43-44	836,221	52,036	3,704	13,400	250,642	487,311	51%	
44-45	861,308	53,077	2,095	164,056	141,758	387,563	37%	
45-46	887,147	54,139	2,732	13,772	184,856	441,254	42%	
46-47	913,762	55,221	3,533	4,576	239,034	507,715	47%	
47-48	941,175	56,326	2,196	148,958	148,597	429,194	35%	

Annual Asset Expenditure Charts

	18-19	19-20	20-21	21-22	22-23	23-24	24-25	25-26	26-27	27-28	
Beginning Balance	50,000	90,566	114,794	69,647	100,198	109,359	83,004	118,080	148,842	172,067	
Annual Assessment	*41,227	35,932	36,651	33,659	34,332	35,019	35,719	36,434	37,162	37,906	
Interest Earned	1,338	1,696	1,029	1,481	1,616	1,227	1,745	2,200	2,543	2,128	
Expenditures	2,000	13,400	82,827	4,589	26,787	62,601	2,388	7,871	16,481	68,109	
Fully Funded Reserves	262,951	282,248	232,158	261,982	270,665	243,662	278,749	310,148	334,555	307,480	
Percent Fully Funded	34%	41%	30%	38%	40%	34%	42%	48%	51%	47%	
Ending Balance	90,566	114,794	69,647	100,198	109,359	83,004	118,080	148,842	172,067	143,991	

Description
Misc. Site Components		
Asphalt Resurfacing - Amenity Lot
Decorative Light Poles		
Misc. Site Components Total:		
Fencing & Gates		
Aluminum Fence 4 FT
Aluminum Fence 5 Ft		
Vinyl Privacy Fence - Perimeter
Vinyl Privacy Fence - Pool		
Fencing & Gates Total:		
Misc. Building Components		
Floor Tile - Function Room	4,697	
Restroom Renovation Allowance	19,572	
Wood Cabinets & Stone Tops	2,871	
Misc. Building Components Total:	27,139	
Roofing		
Aluminum Gutters & Downspouts
Asphalt Shingles - Clubhouse	
21,920	
Asphalt Shingles - Entry Monuments	3,914	
Roofing Total:	25,835	

	18-19	19-20	20-21	21-22	22-23	23-24	24-25	25-26	26-27	27-28	
Description
Painting											
Exterior Painting - Clubhouse		6,396							7,867		
Exterior Painting - Entry Monuments		4,944							6,080		
Painting Total:		11,340							13,947		
Furniture Fixtures & Equipment											
Clubhouse Furniture Allowance						2,319					
Pool Furniture Allowance			2,122					2,460			
Refrigerator				2,404							
Shade Structure Frame											
Furniture Fixtures & Equipment Total:			2,122	2,404		2,319		2,460			
HVAC											
Heat Pump - Club Room			8,487								
HVAC Total:			8,487								
Swimming Pool											
Concrete Pavers - Pool Deck											
Handicap Lift					7,653						
Pool Equipment Allowance	2,000	2,060	2,122	2,185	2,251	2,319	2,388	2,460	2,534	2,610	
Pool Play Equipment Allowance					16,883						
Pool Resurfacing			49,905								
Pool Tile			20,191								
Shade Structure Frame										12,526	
Swimming Pool Total:	2,000	2,060	72,218	2,185	26,787	2,319	2,388	2,460	2,534	15,135	
Playground											
Park Benches								2,952			
Play Equipment Allowance						57,964					
Playground Total:						57,964		2,952			

Year Total:	2,000	13,400	82,827	4,589	26,787	62,601	2,388	7,871	16,481	68,109

	28-29	29-30	30-31	31-32	32-33	33-34	34-35	35-36	36-37	37-38	
Beginning Balance	143,991	182,666	199,695	237,731	279,962	76,247	93,504	135,843	176,249	221,417	
Annual Assessment	38,664	39,437	40,226	41,030	41,851	42,688	43,542	44,412	45,301	46,207	
Interest Earned	2,700	2,951	3,513	4,137	1,127	1,382	2,008	2,605	3,272	1,327	
Expenditures	2,688	25,359	5,703	2,937	246,693	26,813	3,209	6,611	3,405	179,140	
Fully Funded Reserves	347,967	367,339	408,589	455,009	252,869	272,290	317,789	362,367	412,842	285,116	
Percent Fully Funded	52%	54%	58%	62%	30%	34%	43%	49%	54%	31%	
Ending Balance	182,666	199,695	237,731	279,962	76,247	93,504	135,843	176,249	221,417	89,811	

Description				
Misc. Site Components				
Asphalt Resurfacing - Amenity Lot	22,591			
Decorative Light Poles		7,260		
Misc. Site Components Total:	22,591	7,260		
Fencing & Gates				
Aluminum Fence 4 FT		7,215		
Aluminum Fence 5 Ft		18,926		
Vinyl Privacy Fence - Perimeter		80,800		
Vinyl Privacy Fence - Pool		6,536		
Fencing & Gates Total:		113,476		
Misc. Building Components				
Floor Tile - Function Room				
Restroom Renovation Allowance				
Wood Cabinets & Stone Tops				
Misc. Building Components Total:				
Roofing				
Aluminum Gutters & Downspouts			3,359	
Asphalt Shingles - Clubhouse				
Asphalt Shingles - Entry Monuments				
Roofing Total:			3,359	

	28-29	29-30	30-31	31-32	32-33	33-34	34-35	35-36	36-37	37-38	
Description
Painting											
Exterior Painting - Clubhouse						9,675					
Exterior Painting - Entry Monuments						7,478					
Painting Total:						17,153					
Furniture Fixtures & Equipment											
Clubhouse Furniture Allowance						3,116					
Pool Furniture Allowance			2,852					3,306			
Refrigerator						3,428					
Shade Structure Frame					10,891						
Furniture Fixtures & Equipment Total:			2,852		10,891	6,543		3,306			
HVAC											
Heat Pump - Club Room					12,101						
HVAC Total:					12,101						
Swimming Pool											
Concrete Pavers - Pool Deck										134,048	
Handicap Lift										11,924	
Pool Equipment Allowance	2,688	2,768	2,852	2,937	3,025	3,116	3,209	3,306	3,405	3,507	
Pool Play Equipment Allowance										26,303	
Pool Resurfacing					71,152						
Pool Tile					28,788						
Shade Structure Frame											
Swimming Pool Total:	2,688	2,768	2,852	2,937	102,965	3,116	3,209	3,306	3,405	175,781	
Playground											
Park Benches											
Play Equipment Allowance											
Playground Total:											

Year Total:	2,688	25,359	5,703	2,937	246,693	26,813	3,209	6,611	3,405	179,140

	38-39	39-40	40-41	41-42	42-43	43-44	44-45	45-46	46-47	47-48	
Beginning Balance	89,811	135,330	87,968	109,866	158,273	208,302	250,642	141,758	184,856	239,034	
Annual Assessment	47,131	48,073	49,035	50,016	51,016	52,036	53,077	54,139	55,221	56,326	
Interest Earned	2,000	1,300	1,624	2,339	3,078	3,704	2,095	2,732	3,533	2,196	
Expenditures	3,612	96,735	28,761	3,947	4,066	13,400	164,056	13,772	4,576	148,958	
Fully Funded Reserves	335,685	293,226	320,920	376,459	435,041	487,311	387,563	441,254	507,715	429,194	
Percent Fully Funded	40%	30%	34%	42%	48%	51%	37%	42%	47%	35%	
Ending Balance	135,330	87,968	109,866	158,273	208,302	250,642	141,758	184,856	239,034	148,597	

Description
Misc. Site Components		
Asphalt Resurfacing - Amenity Lot
Decorative Light Poles		
Misc. Site Components Total:		
Fencing & Gates		
Aluminum Fence 4 FT
Aluminum Fence 5 Ft		
Vinyl Privacy Fence - Perimeter
Vinyl Privacy Fence - Pool		
Fencing & Gates Total:		
Misc. Building Components		
Floor Tile - Function Room	8,484	
Restroom Renovation Allowance	35,348	
Wood Cabinets & Stone Tops	5,184	
Misc. Building Components Total:	49,017	
Roofing		
Aluminum Gutters & Downspouts
Asphalt Shingles - Clubhouse	
39,590	
Asphalt Shingles - Entry Monuments	7,070	
Roofing Total:	46,660	

	38-39	39-40	40-41	41-42	42-43	43-44	44-45	45-46	46-47	47-48	
Description
Painting											
Exterior Painting - Clubhouse			11,899							14,634	
Exterior Painting - Entry Monuments			9,197							11,312	
Painting Total:			21,096							25,946	
Furniture Fixtures & Equipment											
Clubhouse Furniture Allowance						4,188					
Pool Furniture Allowance			3,832					4,443			
Refrigerator								4,887			
Shade Structure Frame											
Furniture Fixtures & Equipment Total:			3,832			4,188		9,329			
HVAC											
Heat Pump - Club Room							17,253				
HVAC Total:							17,253				
Swimming Pool											
Concrete Pavers - Pool Deck											
Handicap Lift											
Pool Equipment Allowance	3,612	3,721	3,832	3,947	4,066	4,188	4,313	4,443	4,576	4,713	
Pool Play Equipment Allowance											
Pool Resurfacing							101,446				
Pool Tile							41,044				
Shade Structure Frame										22,623	
Swimming Pool Total:	3,612	3,721	3,832	3,947	4,066	4,188	146,803	4,443	4,576	27,336	
Playground											
Park Benches						5,025					
Play Equipment Allowance		93,015									
Playground Total:		93,015				5,025					

Year Total:	3,612	96,735	28,761	3,947	4,066	13,400	164,056	13,772	4,576	148,958

Description

Replacement Year 18-19 Swimming Pool
Pool Equipment Allowance	Expenditures

2,000	
Total for 2018 - 2019	$2,000	
Replacement Year 19-20		
Painting		
Exterior Painting - Clubhouse	6,396	
Exterior Painting - Entry Monuments	  4,944	
Painting - Total:	11,340	
Swimming Pool		
Pool Equipment Allowance	2,060	
Total for 2019 - 2020	$13,400	
Replacement Year 20-21		
Furniture Fixtures & Equipment		
Pool Furniture Allowance	2,122	
HVAC
Heat Pump - Club Room	8,487
Swimming Pool
Pool Equipment Allowance	2,122	
Pool Resurfacing	49,905	
Pool Tile	20,191	
Swimming Pool - Total:	72,218	
Total for 2020 - 2021	$82,827	
Replacement Year 21-22		
Furniture Fixtures & Equipment
Refrigerator	
2,404	
Swimming Pool
Pool Equipment Allowance	
2,185	
Total for 2021 - 2022	$4,589	

Description	Expenditures

Handicap Lift	7,653	
Pool Equipment Allowance	2,251	
Pool Play Equipment Allowance	16,883	
Swimming Pool - Total:	26,787	
Total for 2022 - 2023	$26,787	
Replacement Year 23-24		
Furniture Fixtures & Equipment
Clubhouse Furniture Allowance	
2,319	

Replacement Year 22-23 Swimming Pool

Swimming Pool
Pool Equipment Allowance	2,319
Playground
Play Equipment Allowance	57,964	
Total for 2023 - 2024	$62,601	
Replacement Year 24-25		
Swimming Pool
Pool Equipment Allowance	
2,388	
Total for 2024 - 2025	$2,388	
Replacement Year 25-26		
Furniture Fixtures & Equipment
Pool Furniture Allowance	
2,460	
Swimming Pool
Pool Equipment Allowance	2,460
Playground
Park Benches	2,952	
Total for 2025 - 2026	$7,871	
Replacement Year 26-27		
Painting
Exterior Painting - Clubhouse	
7,867	

Description	Expenditures

Replacement Year 26-27 continued...
Exterior Painting - Entry Monuments	 6,080
Painting - Total:	13,947
Swimming Pool
Pool Equipment Allowance	2,534	
Total for 2026 - 2027	$16,481	
Replacement Year 27-28		
Misc. Building Components		
Floor Tile - Function Room	4,697	
Restroom Renovation Allowance	19,572	
Wood Cabinets & Stone Tops	  2,871	
Misc. Building Components - Total:	27,139	
Roofing		
Asphalt Shingles - Clubhouse	21,920	
Asphalt Shingles - Entry Monuments	  3,914	
Roofing - Total:	25,835	
Swimming Pool		
Pool Equipment Allowance	2,610	
Shade Structure Frame	12,526	
Total for 2027 - 2028	$68,109	
Replacement Year 28-29		
Swimming Pool		
Pool Equipment Allowance	2,688	
Total for 2028 - 2029	$2,688	
Replacement Year 29-30		
Misc. Site Components		
Asphalt Resurfacing - Amenity Lot	22,591	
Swimming Pool
Pool Equipment Allowance	2,768
Total for 2029 - 2030	$25,359

Description	Expenditures

Replacement Year 30-31 Furniture Fixtures & Equipment
Pool Furniture Allowance	2,852

Swimming Pool		
Pool Equipment Allowance	2,852	
Total for 2030 - 2031	$5,703	
Replacement Year 31-32		
Swimming Pool		
Pool Equipment Allowance	2,937	
Total for 2031 - 2032	$2,937	
Replacement Year 32-33		
Misc. Site Components		
Decorative Light Poles	7,260	
Fencing & Gates		
Aluminum Fence 4 FT	7,215	
Aluminum Fence 5 Ft	18,926	
Vinyl Privacy Fence - Perimeter	80,800	
Vinyl Privacy Fence - Pool	    6,536	
Fencing & Gates - Total:	113,476	
Furniture Fixtures & Equipment
Shade Structure Frame	10,891
HVAC
Heat Pump - Club Room	12,101
Swimming Pool
Pool Equipment Allowance	3,025	
Pool Resurfacing	71,152	
Pool Tile	  28,788	
Swimming Pool - Total:	102,965	
Total for 2032 - 2033	$246,693	
Replacement Year 33-34		
Painting
Exterior Painting - Clubhouse	
9,675	

Description

Replacement Year 33-34 continued...
Exterior Painting - Entry Monuments	Expenditures

  7,478	
Painting - Total:	17,153	
Furniture Fixtures & Equipment		
Clubhouse Furniture Allowance	3,116	
Refrigerator	3,428	
Furniture Fixtures & Equipment - Total:	6,543	
Swimming Pool		
Pool Equipment Allowance	3,116	
Total for 2033 - 2034	$26,813	
Replacement Year 34-35		
Swimming Pool		
Pool Equipment Allowance	3,209	
Total for 2034 - 2035	$3,209	
Replacement Year 35-36		
Furniture Fixtures & Equipment		
Pool Furniture Allowance	3,306	
Swimming Pool			
Pool Equipment Allowance	3,306	
Total for 2035 - 2036	$6,611	
Replacement Year 36-37		
Swimming Pool		
Pool Equipment Allowance	3,405	
Total for 2036 - 2037	$3,405	
Replacement Year 37-38		
Roofing		
Aluminum Gutters & Downspouts	3,359	
Swimming Pool				
Concrete Pavers - Pool Deck	134,048

Description

Replacement Year 37-38 continued...	Expenditures	
Handicap Lift	11,924	
Pool Equipment Allowance	3,507	
Pool Play Equipment Allowance	26,303	
Total for 2037 - 2038	$179,140	
Replacement Year 38-39		
Swimming Pool		
Pool Equipment Allowance	3,612	
Total for 2038 - 2039	$3,612	
Replacement Year 39-40		
Swimming Pool		
Pool Equipment Allowance	3,721	
Playground		
Play Equipment Allowance	93,015	
Total for 2039 - 2040	$96,735	
Replacement Year 40-41		
Painting		
Exterior Painting - Clubhouse	11,899	
Exterior Painting - Entry Monuments	  9,197	
Painting - Total:	21,096	
Furniture Fixtures & Equipment		
Pool Furniture Allowance	3,832	
Swimming Pool			
Pool Equipment Allowance	3,832	
Total for 2040 - 2041	$28,761	
Replacement Year 41-42		
Swimming Pool		
Pool Equipment Allowance	3,947	
Total for 2041 - 2042	$3,947	

Description

Replacement Year 42-43 Swimming Pool
Pool Equipment Allowance	Expenditures

4,066	
Total for 2042 - 2043	$4,066	
Replacement Year 43-44		
Furniture Fixtures & Equipment
Clubhouse Furniture Allowance	
4,188	
Swimming Pool
Pool Equipment Allowance	4,188
Playground
Park Benches	5,025	
Total for 2043 - 2044	$13,400	
Replacement Year 44-45		
HVAC		
Heat Pump - Club Room	17,253	
Swimming Pool		
Pool Equipment Allowance	4,313	
Pool Resurfacing	101,446	
Pool Tile	  41,044	
Swimming Pool - Total:	146,803	
Total for 2044 - 2045	$164,056	
Replacement Year 45-46		
Furniture Fixtures & Equipment		
Pool Furniture Allowance	4,443	
Refrigerator	4,887	
Furniture Fixtures & Equipment - Total:	9,329	
Swimming Pool
Pool Equipment Allowance	4,443
Total for 2045 - 2046	$13,772

Description

Replacement Year 46-47 Swimming Pool
Pool Equipment Allowance	Expenditures

4,576	
Total for 2046 - 2047	$4,576	
Replacement Year 47-48		
Misc. Building Components		
Floor Tile - Function Room	8,484	
Restroom Renovation Allowance	35,348	
Wood Cabinets & Stone Tops	  5,184	
Misc. Building Components - Total:	49,017	
Roofing		
Asphalt Shingles - Clubhouse	39,590	
Asphalt Shingles - Entry Monuments	  7,070	
Roofing - Total:	46,660	
Painting		
Exterior Painting - Clubhouse	14,634	
Exterior Painting - Entry Monuments	11,312	
Painting - Total:	25,946	
Swimming Pool		
Pool Equipment Allowance	4,713	
Shade Structure Frame	22,623	
Swimming Pool - Total:	27,336	

Total for 2047 - 2048	$148,958

Description
Misc. Site Components		
Asphalt Resurfacing - Amenity Lot	07-08	29-30	22	0	11	680 Square Yards	24.00	16,320	
Decorative Light Poles	07-08	32-33	25	0	14	3 Each	1,600.00	    4,800	
Misc. Site Components - Total								$21,120	
Fencing & Gates
Aluminum Fence 4 FT	
07-08	
32-33	
25	
0	
14	
159 Linear Feet	
30.00	
4,770	
Aluminum Fence 5 Ft	07-08	32-33	25	0	14	391 Linear Feet	32.00	12,512	
Vinyl Privacy Fence - Perimeter	07-08	32-33	25	0	14	1,842 Linear Feet	29.00	53,418	
Vinyl Privacy Fence - Pool	07-08	32-33	25	0	14	149 Linear Feet	29.00	    4,321	
Fencing & Gates - Total								$75,021	
Misc. Building Components
Floor Tile - Function Room	
07-08	
27-28	
20	
0	
9	
600 Square Feet	
6.00	
3,600	
Restroom Renovation Allowance	07-08	27-28	20	0	9	1 Lump Sum	15,000.00	15,000	
Wood Cabinets & Stone Tops	07-08	27-28	20	0	9	11 Linear Feet	200.00	    2,200	
Misc. Building Components - Total								$20,800	
Roofing
Aluminum Gutters & Downspouts	
07-08	
37-38	
30	
0	
19	
314 Linear Feet	
6.10	
1,915	
Asphalt Shingles - Clubhouse	07-08	27-28	20	0	9	48 Squares	350.00	16,800	
Asphalt Shingles - Entry Monuments	07-08	27-28	20	0	9	8 Stalls	375.00	    3,000	
Roofing - Total								$21,715	
Painting
Exterior Painting - Clubhouse	
07-08	
19-20	
7	
5	
1	
4,600 Square Feet	
1.35	
6,210	
Exterior Painting - Entry Monuments	07-08	19-20	7	5	1	2 Each	2,400.00	    4,800	
Painting - Total								$11,010	
Furniture Fixtures & Equipment
Clubhouse Furniture Allowance	
07-08	
23-24	
10	
6	
5	
1 Lump Sum	
2,000.00	
2,000	
Pool Furniture Allowance	07-08	20-21	5	8	2	1 Lump Sum	2,000.00	2,000	
Refrigerator	07-08	21-22	12	2	3	1 Each	2,200.00	2,200	
Shade Structure Frame	07-08	32-33	25	0	14	2 Each	3,600.00	    7,200	
Furniture Fixtures & Equipment - Total								$13,400	
HVAC
Heat Pump - Club Room	
07-08	
20-21	
12	
1	
2	
5 Tons	
1,600.00	
  8,000	
HVAC - Total								$8,000	
Swimming Pool
Concrete Pavers - Pool Deck	
07-08	
37-38	
30	
0	
19	
11,242 Square Feet	
6.80	
76,446	
Handicap Lift	07-08	22-23	15	0	4	1 Each	6,800.00	6,800	

Description
Swimming Pool continued...		
Pool Equipment Allowance	07-08	18-19	1	0	0	1 Lump Sum	2,000.00	2,000	
Pool Play Equipment Allowance	07-08	22-23	15	0	4	1 Lump Sum	15,000.00	15,000	
Pool Resurfacing	07-08	20-21	12	1	2	4,800 Square Feet	9.80	47,040	
Pool Tile	07-08	20-21	12	1	2	732 Linear Feet	26.00	19,032	
Shade Structure Frame	07-08	27-28	20	0	9	2 Each	4,800.00	 	9,600	
Swimming Pool - Total								$175,918	
Playground
Park Benches	
07-08	
25-26	
18	
0	
7	
2 Each	
1,200.00	
2,400	
Play Equipment Allowance	07-08	23-24	16	0	5	1 Lump Sum	50,000.00	  50,000	
Playground - Total								$52,400	
Total Asset Summary								$399,384	

Misc. Site Components
1026	Asphalt Resurfacing - Amenity Lot	29-30	4-5	
1016	Decorative Light Poles	32-33	4-5	

Fencing & Gates	
1017	Aluminum Fence 4 FT	32-33	4-7	
1020	Aluminum Fence 5 Ft	32-33	4-7	
1023	Vinyl Privacy Fence - Perimeter	32-33	4-8	
1009	Vinyl Privacy Fence - Pool	32-33	4-8	

Misc. Building Components	
1001	Floor Tile - Function Room	27-28	4-10	
1008	Restroom Renovation Allowance	27-28	4-10	
1028	Wood Cabinets & Stone Tops	27-28	4-11	
Roofing				
1031	Aluminum Gutters & Downspouts	37-38	4-12	
1006	Asphalt Shingles - Clubhouse	27-28	4-12	
1024	Asphalt Shingles - Entry Monuments	27-28	4-13	

Painting				
1013	Exterior Painting - Clubhouse	19-20	4-14	
1025	Exterior Painting - Entry Monuments	19-20	4-14	

Furniture Fixtures & Equipment	
1030	Clubhouse Furniture Allowance	23-24	4-16	
1019	Pool Furniture Allowance	20-21	4-16	
1029	Refrigerator	21-22	4-17	
1015	Shade Structure Frame	32-33	4-18	
HVAC				
1007	Heat Pump - Club Room	20-21	4-19	

Swimming Pool	
1027	Concrete Pavers - Pool Deck	37-38	4-20	
1014	Handicap Lift	22-23	4-20	
1012	Pool Equipment Allowance	18-19	4-21	
1018	Pool Play Equipment Allowance	22-23	4-21	

Swimming Pool Continued...
1010	Pool Resurfacing	20-21	4-22	
1011	Pool Tile	20-21	4-22	
1032	Shade Structure Frame	27-28	4-23	

Playground	
1022	Park Benches	25-26	4-24	
1021	Play Equipment Allowance	23-24	4-24	
Total Funded Assets	28	
Total Unfunded Assets	  0	
Total Assets	28	

Asphalt Resurfacing - Amenity Lot - 2029		
	680 Square Yards	@ $24.00	
Asset ID	1026	Asset Cost	$16,320.00	
	Percent Replacement	100%	
Misc. Site Components	Future Cost	$22,590.70	
Placed in Service	January 2008		
Useful Life	22		
Replacement Year	29-30		
Remaining Life	11		

Decorative Light Poles - 2032

3 Each

@ $1,600.00

Asset ID	1016
Misc. Site Components
Placed in Service	January 2008
Useful Life	25
Replacement Year	32-33
Remaining Life	14

Asset Cost	$4,800.00
Percent Replacement	100%
Future Cost	$7,260.43

Misc. Site Components - Total Current Cost	$21,120

Aluminum Fence 4 FT - 2032

159 Linear Feet

@ $30.00

Asset ID	1017
Fencing & Gates
Placed in Service	January 2008
Useful Life	25
Replacement Year	32-33
Remaining Life	14

Asset Cost	$4,770.00
Percent Replacement	100%
Future Cost	$7,215.05

Aluminum Fence 5 Ft - 2032

391 Linear Feet

@ $32.00

Asset ID	1020
Fencing & Gates
Placed in Service	January 2008
Useful Life	25
Replacement Year	32-33
Remaining Life	14

Asset Cost	$12,512.00
Percent Replacement	100%
Future Cost	$18,925.52

Vinyl Privacy Fence - Perimeter - 2032

Asset ID	
1023	1,842 Linear Feet
Asset Cost	@ $29.00
$53,418.00	
		Percent Replacement	100%	
	Fencing & Gates	Future Cost	$80,799.52	
Placed in Service	January 2008			
Useful Life	25			
Replacement Year	32-33			
Remaining Life	14			

Vinyl Privacy Fence - Pool - 2032

149 Linear Feet

@ $29.00

Asset ID	1009
Fencing & Gates
Placed in Service	January 2008
Useful Life	25
Replacement Year	32-33
Remaining Life	14

Asset Cost	$4,321.00
Percent Replacement	100%
Future Cost	$6,535.90

Fencing & Gates - Total Current Cost	$75,021

Floor Tile - Function Room - 2027

600 Square Feet

@ $6.00

Asset ID	1001

Misc. Building Components
Placed in Service	January 2008	
Useful Life	20	
Replacement Year	27-28	
Remaining Life	9	

Restroom Renovation Allowance - 2027

Asset ID	1008

Misc. Building Components

Asset Cost	$3,600.00
Percent Replacement	100%
Future Cost	$4,697.18

1 Lump Sum	@ $15,000.00 Asset Cost		$15,000.00
Percent Replacement	100%
Future Cost	$19,571.60

Placed in Service	January 2008	
Useful Life	20	
Replacement Year	27-28	
Remaining Life	9	

Wood Cabinets & Stone Tops - 2027

Asset ID	1028
Misc. Building Components

11 Linear Feet	@ $200.00
Asset Cost	$2,200.00
Percent Replacement	100%
Future Cost	$2,870.50

Placed in Service	January 2008	
Useful Life	20	
Replacement Year	27-28	
Remaining Life	9	

Misc. Building Components - Total Current Cost	$20,800

Aluminum Gutters & Downspouts - 2037

Asset ID	
1031	314 Linear Feet
Asset Cost	@ $6.10
$1,915.40	
		Percent Replacement	100%	
	Roofing	Future Cost	$3,358.66	
Placed in Service	January 2008			
Useful Life	30			
Replacement Year	37-38			
Remaining Life	19			

Asphalt Shingles - Clubhouse - 2027

48 Squares

@ $350.00

Asset ID	1006	Asset Cost	$16,800.00	
		Percent Replacement	100%	
	Roofing	Future Cost	$21,920.19	
Placed in Service	January 2008			
Useful Life	20			
Replacement Year	27-28			
Remaining Life	9			

Asphalt Shingles - Entry Monuments - 2027

Asset ID	
1024	8 Stalls
Asset Cost	@ $375.00
$3,000.00	
		Percent Replacement	100%	
	Roofing	Future Cost	$3,914.32	
Placed in Service	January 2008			
Useful Life	20			
Replacement Year	27-28			
Remaining Life	9			

Roofing - Total Current Cost	$21,715

Exterior Painting - Clubhouse - 2019

Asset ID	1013
Painting
Placed in Service	January 2008
Useful Life	7
Adjustment	5
Replacement Year	19-20
Remaining Life	1

4,600 Square Feet	@ $1.35
Asset Cost	$6,210.00
Percent Replacement	100%
Future Cost	$6,396.30

Exterior Painting - Entry Monuments - 2019

Asset ID	
1025	2 Each
Asset Cost	@ $2,400.00
$4,800.00	
		Percent Replacement	100%	
	Painting	Future Cost	$4,944.00	
Placed in Service	January 2008			
Useful Life	7			
Adjustment	5			
Replacement Year	19-20			
Remaining Life	1			

Exterior Painting - Entry Monuments continued...

Painting - Total Current Cost	$11,010

Clubhouse Furniture Allowance - 2023

Asset ID	1030
Furniture Fixtures & Equipment
Placed in Service	January 2008	
Useful Life	10	
Adjustment	6	
Replacement Year	23-24	
Remaining Life	5	

Asset ID	1019

Furniture Fixtures & Equipment

1 Lump Sum	@ $2,000.00 Asset Cost		$2,000.00
Percent Replacement	100%
Future Cost	$2,318.55

Pool Furniture Allowance - 2020

1 Lump Sum

@ $2,000.00

Asset Cost	$2,000.00
Percent Replacement	100%
Future Cost	$2,121.80

Placed in Service	January 2008	
Useful Life	5	
Adjustment	8	
Replacement Year	20-21	
Remaining Life	2	

Pool Furniture Allowance continued...

Refrigerator - 2021

1 Each

@ $2,200.00

Asset ID	1029
Furniture Fixtures & Equipment

Asset Cost	$2,200.00
Percent Replacement	100%
Future Cost	$2,404.00

Placed in Service	January 2008	
Useful Life	12	
Adjustment	2	
Replacement Year	21-22	
Remaining Life	3	

Shade Structure Frame - 2032

2 Each

@ $3,600.00

Asset ID	1015
Furniture Fixtures & Equipment

Asset Cost	$7,200.00
Percent Replacement	100%
Future Cost	$10,890.65

Placed in Service	January 2008	
Useful Life	25	
Replacement Year	32-33	
Remaining Life	14	

Furniture Fixtures & Equipment - Total Current Cost	$13,400

Heat Pump - Club Room - 2020

5 Tons

@ $1,600.00

Asset ID	1007
HVAC
Placed in Service	January 2008
Useful Life	12
Adjustment	1
Replacement Year	20-21
Remaining Life	2

Asset Cost	$8,000.00
Percent Replacement	100%
Future Cost	$8,487.20

HVAC - Total Current Cost	$8,000

Ha

Concrete Pavers - Pool Deck - 2037

Asset ID	
1027	11,242 Square Feet
Asset Cost	@ $6.80
$76,445.60	
		Percent Replacement	100%	
	Swimming Pool	Future Cost	$134,047.82	
Placed in Service	January 2008			
Useful Life	30			
Replacement Year	37-38			
Remaining Life	19			

ndicap Lift - 2022	1 Each	@ $6,800.00
Asset ID	1014	Asset Cost	$6,800.00	
		Percent Replacement	100%	
	Swimming Pool	Future Cost	$7,653.46	
Placed in Service	January 2008			
Useful Life	15			
Replacement Year	22-23			
Remaining Life	4			

Pool Equipment Allowance - 2018

1 Lump Sum

@ $2,000.00

Asset ID	1012
Swimming Pool
Placed in Service	January 2008
Useful Life	1
Replacement Year	18-19
Remaining Life	0

Asset Cost	$2,000.00
Percent Replacement	100%
Future Cost	$2,000.00

Pool Play Equipment Allowance - 2022

Asset ID	
1018	1 Lump Sum
Asset Cost	@ $15,000.00
$15,000.00	
		Percent Replacement	100%	
	Swimming Pool	Future Cost	$16,882.63	
Placed in Service	January 2008			
Useful Life	15			
Replacement Year	22-23			
Remaining Life	4			

  Po

Po

ol Resurfacing - 2020		4,800 Square Feet		@ $9.80 Asset ID	1010		Asset Cost	$47,040.00	
		Percent Replacement	100%	
	Swimming Pool	Future Cost	$49,904.74	
Placed in Service	January 2008			
Useful Life	12			
Adjustment	1			
Replacement Year	20-21			
Remaining Life	2			

ol Tile - 2020	732 Linear Feet	@ $26.00
Asset ID	1011	Asset Cost	$19,032.00	
		Percent Replacement	100%	
	Swimming Pool	Future Cost	$20,191.05	
Placed in Service	January 2008			
Useful Life	12			
Adjustment	1			
Replacement Year	20-21			
Remaining Life	2			

Shade Structure Frame - 2027

2 Each

@ $4,800.00

Asset ID	1032
Swimming Pool
Placed in Service	January 2008
Useful Life	20
Replacement Year	27-28
Remaining Life	9

Asset Cost	$9,600.00
Percent Replacement	100%
Future Cost	$12,525.82

Swimming Pool - Total Current Cost	$175,918

rk Benches - 2025	2 Each	@ $1,200.00
Asset ID	1022	Asset Cost	$2,400.00	
		Percent Replacement	100%	
	Playground	Future Cost	$2,951.70	
Placed in Service	January 2008			
Useful Life	18			
Replacement Year	25-26			
Remaining Life	7			

Play Equipment Allowance - 2023

1 Lump Sum	@ $50,000.00

Asset ID	1021
Playground
Placed in Service	January 2008
Useful Life	16
Replacement Year	23-24
Remaining Life	5

Asset Cost	$50,000.00
Percent Replacement	100%
Future Cost	$57,963.70

Pa

Playground - Total Current Cost	$52,400

Content of Reserve Study

Methodology

A Reserve Study is a two part process that includes a physical analysis and a financial analysis which produces a custom made plan for funding future capital replacement. Having a good plan allows you to understand what is currently reserved for, what is not and how the current plan will perform for future years. Ability to adjust contributions early may prevent special assessments or loans to pay for component replacement.
Types of Reserve Studies

Full Reserve Study	Level I	This include a site visit	
Reserve Study Update	Level II	This includes a site visit	
Reserve Study Update	Level III	No site visit, financial review only	

Physical Analysis
During the physical analysis, a site visit is conducted to evaluate major components such as streets, roofs, pools, etc. and build an inventory of components, determine the condition of each and make a projection as to their remaining useful life. No destructive testing is conducted.
Component Selection
Community Associations Institute (CAI) has established standards for reserve studies and selection of components.
Component must be a commonly owned asset
Component must have a limited life
That Limited life must be predictable
Replacement cost must be above a minimum threshold cost
Some components do not meet that test but can be included with the proper analysis and full understanding of the client. In these cases allowance are generally used.
Useful life and remaining useful life sources
Site inspection by experienced inspector
Our database of information
Historical information furnished by the client
Local Consultants and Vendors
National publications such as Marshall & Swift, RS Means and others Replacement cost Established by
Our database & local cost from contractors and suppliers
Historical cost information furnished by the client

National publication such as Marshall & Swift, RS Means and others
Financial Analysis
The financial analysis assesses the community’s reserve balance, current contributions and interest income to determine their current reserve fund status. This provides a clear picture of their current financial capability to pay for future capital needs.
Adequate Funding
Having a lot of cash in reserves is always a good thing but it may not be enough to meet future replacement cost. The only way to know is by completing your reserve study. If using Cash Flow Funding we set the level of funding for adequate funding. While 100% or Full Funding is best you may only fund to an adequate level and be ok.
70% to 100% Funding is considered Strong
30% to 70%	Funding is considered Adequate
0% to 30%	Funding is considered Weak
Contributions
We recommend following a custom funding plan we develop for you that includes:
Adequate cash balance
Even contributions so all owners pay their fair share over time
Minimum contributions necessary with acceptable increases
Funding Goals
We use several type of funding goals including Full Funding, Threshold Funding, Baseline and Statutory Funding. Here is how the Funding Goals work:
Full Funding - As we mentions full is always the best if you can do it! Plans with Full Funding do not usually experience deferred maintenance or special assessments.
Threshold Funding – Balances are kept above a minimum “Threshold” level to adequate fund reserves. The goal here is to work towards full funding over time.
Baseline Funding - Reserves are maintained at a set level above zero. Statutory Funding – Balance set based on local statutes
Funding Methods
The Cash Flow Method develops a reserve-funding plan where contributions to the reserve fund are designed to offset the variable annual expenditures from the reserve fund.
The Component Method develops a reserve-funding plan where the total contribution is based upon the sum of contributions for individual components. When interest and inflation are not included the results are considered the “Straight Line Method”.

Reserve Terms Dictionary

Accumulated Reserve Balance: The anticipated reserve balance on the first day of the fiscal year for which the report has been prepared.
Net Monthly Allocation: The sum of the monthly assessment and interest contribution figures.
Annual Assessment increase: The percentage rate at which the association will increase its assessment to reserves at the end of each year until the year in which the asset is replaced. For example, in order to accumulate $10,000 in 10 years, you set aside $1,000 per year. As an alternative, you could set aside
$795 the first year and increase that amount by 5% each year until year of replacement. In either case you arrive at the same amount. The idea is that you start setting aside a lower amount and increase that number each year in accordance with the planned percentage. Ideally this should be equal to the rate of inflation. It can, however, be used to aid those associations who have not set aside appropriate reserves in the past by making the initial year's allocation less formidable.
Investment Yield: The average interest rate anticipated by the association based upon their current investment practices.
Budget year beginning/ending (fiscal): the budgetary year for which the report is prepared. For associations with fiscal years ending December 31, the monthly assessment figures indicated are for the 12 month period beginning 1/1/0X and ending 12/31/0X.
Monthly Assessment: The assessment for reserves required by the association each month.
Interest Contribution: The interest that should be earned on the reserves, net of taxes, based upon their beginning reserve balance and monthly assessments for one year. This figure is averaged for budgeting purposes.
Threshold Funding Model: This analysis calculates the minimum reserve assessments, with the restriction that the reserve balance is not allowed to go below $0 or other predetermined threshold, during the period of time examined. All funds for planned reserve expenditures will be available on the first day of each fiscal year. The Threshold Funding Model allows the client to choose the level of conservative funding it desires by choosing the threshold dollar amount.
Current Assessment Funding Model: This analysis is based on the current annual assessment, parameters, and reserve fund balance. Because It is calculated using the current annual assessment, it will give an accurate projection of how well the association is funded for the next 30 years of planned reserve expenditures.
Component Funding Model: This funding model’s long-term objective is to provide a plan to a fully funded reserve position over the longest period of time practical. This is the most conservative funding model.
Fixed Accumulated Reserves: An optional figure which, if used, will override all calculations and set the assessment at this amount.
Percentage of Replacement: In some cases, an asset may not be replaced in its entirety or the cost may be shared with a second party. Examples are budgeting for a percentage of replacement of streets over a period of time, or sharing the expense to replace a common wall with a neighboring party.

Placed in Service Date: The month and year that the asset was placed in service. This may be the construction date, the first escrow closure date in a given phase, or the date of the last servicing or replacement.
Future Replacement Cost: The estimated cost to repair or replace the asset at the end of its estimated useful life based upon the current replacement cost and inflation.
Taxes on Yield: The estimated percentage of interest income which will be set aside for taxes.
Replacement Year: The year that the asset is scheduled to be replaced. The appropriate funds will be available by the first day of the fiscal year for which replacement is anticipated.
Estimated Remaining Life: This calculation is completed internally based upon the report's fiscal year date and the date the asset was placed in service.
Adjustment to Useful Life: Once the useful life is determined, it may be adjusted +/- by this separate figure for the current cycle of replacement. This will allow for a current period adjustment without affecting the estimate replacement cycles for future replacements.
Estimated Useful Life: The estimated useful life of an asset based upon industry standards, manufacturer specification, visual inspection, location, usage, association standards and prior history. All of these factors are taken into consideration when tailoring the estimated useful life to the particular asset. For example, the carpeting in a hallway or elevator (a heavy traffic area) will not have the same life as the identical carpeting in a seldom used meeting room or office.
Salvage Value: This term defined estimates the salvage value of the asset at the time of replacement, if applicable.
One Time Replacement: Notation if the asset is to be replaced on a one-time basis. Current Replacement Cost: The estimated replacement cost effects as of the beginning of the fiscal year for which the report is being prepared.

Terms of Service
This document has been provided pursuant to an agreement containing restrictions on its use. No part of this document may be copied or distributed, in any form or by any means, nor disclosed to third parties without the expressed written permission of Community Advisors, LLC.
This reserve analysis study and the parameters under which it has been completed are based upon information provided to us in part by representatives of the Community Association, Management Company, Community Development District and its contractors, assorted vendors, specialist and independent contractors, the Community Association’s Institute, and various construction pricing and scheduling manuals including, but not limited to: Marshall & Swift Valuation Service, RS Means Building Construction Cost Data and from numerous vendor catalogues, actual quotations or historical costs, and our own experience in the field of property management and reserve study preparation.
If we update your current reserve study completed by others we assume all of the commonly owned components are included and the quantities are accurate.
No liability is assumed as the result of changing market prices or inaccurate estimates or projections of remaining useful life of components. We are not responsible for any hidden defects or determining the condition of hidden or underground components or systems.
Observing environmental conditions, hazardous materials or determine compliance with building codes or ADA regulations is not included in our scope of work.
Our site visit is not a safety inspection and we are not responsible for any hazards that exist.
Community Advisors, LLC will not be required to participate in any legal action conducted on a property for whatever reason and shall also not be required to give testimony in depositions or in court. In all cases the liability of any action taken against Community Advisors, LLC and its Principals, Employees, contractors and Vendors shall be limited to the consulting fee agreed upon for the production of this report.
This reserve study is a reflection of the information provided by this client and assembled for their use and not for the purposes of performing an audit, quality or forensic analyses, or background checks of historical records.
This information should not be used to estimate construction projects or relied upon for replacement cost until current vendor pricing has been obtained.
We assume all components have been maintained properly unless noted in this report and our remaining useful life projections assume they will be maintained per normal operating standards
Replacement cost does not include any Engineering or Architectural fees unless noted in the study. Beginning fund balances are unaudited and provided by the Association or Manager.
Unless noted in the report we assume the funding goal of the Association is to reserve adequate funds for future capital replacements if they are pooling their reserves and fully funding reserves if they are using the Component Method of funding.
It has been assumed, unless otherwise noted in this report, that all assets have been designed and constructed properly and that each estimated useful life will approximate that of the norm per industry standards and/or manufacturer’s specifications. In some cases, estimates may have been used on assets, which have an

indeterminable but potential liability to the Association or Community Development District. The decision for the inclusion of these as well as all assets considered is left to the client.
Use of this report is acceptance by the Client of the above Information and Conditions.
We recommend regular updates to this study to account for changes in interest and inflation rates and replacement cost.
Community Advisors and the analyst who prepared this study have any relationship that can be considered a conflict of interest. From time to time our clients ask that we manage repair or replacement of components due to our experience in construction management. We do so with the understanding that full disclosure has been obtained and that we are working in the best interest of our client. We do not identify components for replacement to obtain construction management work.

Community Advisors

Community Advisors home office is in Jacksonville, Florida providing property inspection services, capital reserve planning and construction oversight for communities throughout the Southern and Mid-Atlantic States.

Our clients experience quick response, personal service, competitive pricing and receive a custom made plan for their future capital replacements. We like to sit down and discuss your concerns prior to our site analysis so we can better understand your community or property and make sure we have included everything you expect.

Then we conduct a comprehensive site visit to make sure we know your property and include all your assets in our analysis. With our years of experience with community development and commercial construction projects we understand both horizontal and vertical construction and utilize realistic replacement cost and useful life projections in our analysis.

Once we have completed our site visit we conduct the Financial Analysis where we look at your current reserve fund balance, annual contributions and your goal for maintaining adequate reserves. Then we build a custom made financial plan to make sure you have adequate funding for the future and keep contributions as reasonable and moderate as possible.
Our valued clients include:

High-rise Condominium Association
Homeowner Associations
Churches
Time Share Developments
Active Adult Communities
Private Schools
Business Parks
Resort Communities
Non Profit Organizations
Municipal Utility Plants
Marinas
Historic Buildings & Museums

Reserve Analyst & Inspectors Credentials
Charles R. Sheppard RS PRA CCI
Charlie Sheppard is the owner and President of Community Advisors which provides capital reserve analysis, consulting services, commercial inspections and project management for community associations, private clubs, churches, schools and other entities.
He has over 30 years of experience in real estate development, property operation, commercial property inspections and construction management. He has participated on the development team for large planned unit developments and mid-rise office building parks. He has also worked for many years as commercial construction manager for a wide range of structures including medical facilities, office buildings, churches, restaurants, clubhouses, infrastructure installation and remodeling and repositioning of properties to match market conditions.
Areas of expertise include mechanical and electrical systems, energy management systems, life safety systems, plumbing systems, building envelope and roof components. Horizontal improvement experience include marine structures, street and site concrete construction, utilities, site work and landscaping improvements.
Inspection projects include: High rise office and residential buildings, restaurants, industrial properties, churches, private schools, private clubs, marinas, medical facilities, warehouse and industrial properties, water treatment facilities and residential properties.
Education
Virginia Polytechnic Institute & State University – BS
License
Certified General Contractor - Florida Certified Home Inspector - Florida
Professional Designations & Memberships Certified Construction Inspector, (CCI) Professional Reserve Analyst, (PRA)
Reserve Specialist, (RS)
Member – Association of Construction Inspectors
Member - Association of Professional Reserve Analyst – APRA Business Partner - Community Associations Institute – CAI Community Involvement
Member & Past President Southpoint Rotary Club