reserve study | annual report - inland networks › ~pineloch › documents ›...

701 Fifth Ave, Suite 4200, Seattle WA 98104 www.reservestudygroup.com (888)-315 2843

08.28.14

San Diego CA | Jacksonville FL | Portland OR | Austin TX | Salt Lake City UT | Seattle WA

PINELOCH SUN BEACH CLUB LEVEL I RESERVE STUDY | WITH SITE VISIT

Ronald, WA 98940 Report #401200921

FINANCIAL YEAR 04.2014—03.2015

RESERVE STUDY | ANNUAL REPORT

PINELOCH SUN BEACH CLUB 2

Reserve Study Group, LLC

701 Fifth Ave, Suite 4200

Seattle WA 98104

Phone: ( 888 ) -315 2843

Fax: ( 888 ) -316 4587

Email: [email protected]

Web: www.reservestudygroup.com

© COPYRIGHT 2014

RESERVE STUDY GROUP, LLC

This work is copyright and has been

supplied under contract to the Asso-

ciation and/or its representatives.

Apart from the client ’ s right to re-

produce and distribute copies of the

report as required by its governing

documents or state law, no part of

this work may be reproduced by any

process without prior written permis-

sion from Reserve Study Group,

LLC. Requests and inquiries con-

cerning reproduction and rights

should be addressed to the Reserve

Study Group, 701 Fifth Ave, Suite

4200, Seattle WA 98104.

Reserve Study Group, LLC

Seattle, WASHINGTON

Contact Information

Published By

http://reservestudygroup.com/


REPORT SUMMARY ……………………………………..………………………………………………………………….. PROJECT OVERVIEW [REGULAR DIVISION]………………………………………………..………………………. FINANCIAL OVERVIEW…………..…………………………………………………………………………………………. FIVE YEAR INVESTMENT SUMMARY …………...……………………………………………….………………….. PROJECT OVERVIEW [WATER DIVISION]……………………………………………………………………………. FINANCIAL OVERVIEW…………..…………………………………………………………………………………………. FIVE YEAR INVESTMENT SUMMARY …………...………………………………………………………………….. METHODOLOGY……………………………………………………………………………………………………………….. PHYSICAL ANALYSIS………………………………………………………………………………………………………….. Site Inspection………………………………………………………………………………………………………………….. Reserve Components……………………………………………………………………………………………………….. Component Useful Life…………………………………………………………………………………………………….. Component Remaining Useful Life……………………………………………………………………………………. FINANCIAL ANALYSIS………………………………………………………………………………………………………… Recommended Funding Rate……………………………………………………………………………………………. Fully Funded Balance………………………………………………………………………………………………………… Percent Funded ………………………………………………………………………………………………………………. Reserve Component Cost…………………………………………………………………………………………………. Inflation Rate……………………………………………………………………………………………………………………. Interest Rate…………………………………………………………………………………………………………………….. Current Reserve Fund Balance…………………………………………………………………………………………. FINANCIAL ANALYSIS [REGULAR DIVISION]………….…………………………………………………………. Reserve Component List……………………………………………………………………………………………………. Projected Reserve Expenses.…………………………………………………………………………………………….. Reserve Funding Plan……………………………………………………………………………………………………….. Thirty Year Reserve Fund Summary…………………………………………………………………………………… FINANCIAL ANALYSIS [WATER DIVISION]……..…………………………………………………………………. Reserve Component List……………………………………………………………………………………………………. Projected Reserve Expenses.…………………………………………………………………………………………….. Reserve Funding Plan……………………………………………………………………………………………………….. Thirty Year Reserve Fund Summary…………………………………………………………………………………… PHYSICAL ANALYSIS…………..…………………………………………………………………………………………….. Component Inventory………………………………………………………………………………………………………. DISCLOSURES……………………………………………………………………………………………………………………. GLOSSARY OF TERMS………………………………………………………………………………………………………..

4 5 6 7 8 9

10

11 12 12 12 12 13 13 14 14 14 14 14 1515

16 19 20 23 26

27 30 31 34 37

38 39

62 63

TABLE OF CONTENTS


REPORT SUMMARY

Guide to the Report

The Board of Directors is responsible for maintaining common areas of the physical property.

They also have a duty to exercise careful planning for the funding of future major repairs and

replacement of the Association ’ s common elements or components. This report is intended to

assist the Board in making necessary decisions regarding the development of their current and

future reserve fund and contributions. This report is intended to be used for budgeting and plan-

ning purposes, and provides guidelines and estimates for anticipated repair or replacement

events.

This reserve study has been completed by a designated Reserve Specialist® and adheres to

the Community Association Institute ’ s ( CAI ) standards regarding service levels and disclo-

sures. The American Institute of Certified Public Accountants ( AICPA ) guidelines for Common

Interest Realty Associations are also considered in the preparation of this report. Recommenda-

tions and accompanying assumptions included herein are based on information provided to the

Reserve Study Group and assembled for the Association ’ s use.

The report has been designed for ease of use and is divided into the following sections:

Report Summary

Provides an overview of the Association ’ s current physical condition and financial situation,

outlining significant findings and conclusions. This section of the report should be used as a

quick reference in helping the reader to understand the parameters and results of the study.

Methodology

Details the framework, methods, and materials used in developing the reserve study and the

associated funding plan. This section provides a comprehensive understanding of the method-

ology and the process taken to develop the report.

Financial Analysis

Examines report findings and results with projections for individual reserve component ex-

penses and recommended funding.

Physical Analysis

Individually reviews each of the reserve components, highlighting recommended preventative

maintenance requirements and areas of concern. Includes a maintenance plan which provides

an organized, systematic and cost-effective approach to maintaining the value and maximizing

the service life of the Association ’ s capital assets.


PROJECT OVERVIEW [REGULAR DIVISION]

Report Period (Fiscal Year) 2015 (April 1, 2014—March 31, 2015)

Inflation Rate ¹ 3.00%

Interest Rate 1.00%

Projected Starting Reserve Fund Balance ² $140,000

Fully Funded Balance (Ideal Amount) $309,203

Percent Funded 45%

Special Assessment N/A

Project Summary

Association Name Pineloch Sun Beach Club

Location Ronald, WA 98940

Year Constructed 1969

Project Description HOA

Type of Study Level I—FULL Reserve Study

Funding Strategy Recommended Full Funding

Number of Units 435

Date Prepared 08.28.14

Next Study August 2015

¹ Inflation rate is based upon the average annual increase of the Consumer Price Index (CPI) over the last 30-years, as published by the US Bureau of Labor Statistics (www.labor.gov). ² Information in relation to the association’s finances were supplied by the association’s representative and is not audited.


FINANCIAL OVERVIEW [REGULAR DIVISION]

The graph below shows the comparison between the current level of reserve contributions as measured

against Baseline, Threshold¹ and Full Funding contribution amounts.

Reserve Funding Options

The graph below highlights the movement of the association’s reserve fund status (measured as Percent

Funded) in relation to the reserve contribution rate chosen (Full, Threshold¹ or Baseline).

Percent Funded

¹ The Threshold funding plan outlined in this report sets a goal of reaching and maintaining a 50% funded level.

$48,082

$60,443

$66,055

$71,111

Current Funding

Baseline Funding

Threshold Funding

Full Funding

0%

20%

40%

60%

80%

100%

2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 2039 2041 2043

Full Funding Threshold Funding Baseline Funding Current Funding


FIVE YEAR INVESTMENT SUMMARY [REGULAR DIVISION]

Full Funding 2015 2016 2017 2018 2019Fully Funded Balance $309,203 $341,964 $328,756 $344,176 $388,132Percentage Funded (%) 45% 51% 51% 54% 60%Beginning Balance $140,000 $175,601 $166,084 $185,141 $232,140Reserve Contribution $71,111 $73,244 $75,441 $77,704 $80,036Special Assessment $0 $0 $0 $0 $0Interest Earned $1,570 $1,700 $1,747 $2,076 $2,523Reserve Expenditures $37,080 $84,460 $58,132 $32,782 $39,775ENDING BALANCE $175,601 $166,084 $185,141 $232,140 $274,922

Threshold Funding 2015 2016 2017 2018 2019Fully Funded Balance $309,203 $341,964 $328,756 $344,176 $388,132Percentage Funded (%) 45% 50% 47% 49% 54%Beginning Balance $140,000 $170,520 $155,719 $169,281 $210,569Reserve Contribution $66,055 $68,036 $70,077 $72,180 $74,345Special Assessment $0 $0 $0 $0 $0Interest Earned $1,545 $1,623 $1,617 $1,890 $2,279Reserve Expenditures $37,080 $84,460 $58,132 $32,782 $39,775ENDING BALANCE $170,520 $155,719 $169,281 $210,569 $247,417

Baseline Funding 2015 2016 2017 2018 2019Fully Funded Balance $309,203 $341,964 $328,756 $344,176 $388,132Percentage Funded (%) 45% 48% 44% 44% 48%Beginning Balance $140,000 $164,879 $144,213 $151,676 $186,625Reserve Contribution $60,443 $62,256 $64,123 $66,047 $68,029Special Assessment $0 $0 $0 $0 $0Interest Earned $1,517 $1,538 $1,472 $1,683 $2,008Reserve Expenditures $37,080 $84,460 $58,132 $32,782 $39,775ENDING BALANCE $164,879 $144,213 $151,676 $186,625 $216,885

Current Funding 2015 2016 2017 2018 2019

Fully Funded Balance $309,203 $341,964 $328,756 $344,176 $388,132

Percentage Funded (%) 45% 45% 36% 33% 34%

Beginning Balance $140,000 $152,457 $118,871 $112,903 $133,889

Reserve Contribution $48,082 $49,524 $51,010 $52,540 $54,117

Special Assessment $0 $0 $0 $0 $0

Interest Earned $1,455 $1,350 $1,153 $1,228 $1,411

Reserve Expenditures $37,080 $84,460 $58,132 $32,782 $39,775

ENDING BALANCE $152,457 $118,871 $112,903 $133,889 $149,641


PROJECT OVERVIEW [WATER DIVISION]

Report Period (Fiscal Year) 2015 (April 1, 2014—March 31, 2015)

Inflation Rate ¹ 3.00%

Interest Rate 1.00%

Projected Starting Reserve Fund Balance ² $100,000

Fully Funded Balance (Ideal Amount) $238,891

Percent Funded 42%

Special Assessment N/A

Project Summary

Association Name Pineloch Sun Beach Club

Location Ronald, WA 98940

Year Constructed 1969

Project Description HOA

Type of Study Level I—FULL Reserve Study

Funding Strategy Recommended Full Funding

Number of Units 435

¹ Inflation rate is based upon the average annual increase of the Consumer Price Index (CPI) over the last 30-years, as published by the US Bureau of Labor Statistics (www.labor.gov). ² Information in relation to the association’s finances were supplied by the association’s representative and is not audited.


FINANCIAL OVERVIEW [WATER DIVISION]

The graph below shows the comparison between the current level of reserve contributions as measured

against Baseline, Threshold¹ and Full Funding contribution amounts.

Reserve Funding Options

The graph below highlights the movement of the association’s reserve fund status (measured as Percent

Funded) in relation to the reserve contribution rate chosen (Full, Threshold¹ or Baseline).

Percent Funded


$55,168

$14,193

$17,396

$18,735

Current Funding

Baseline Funding

Threshold Funding

Full Funding

0%

20%

40%

60%

80%

100%

2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 2039 2041 2043



FIVE YEAR INVESTMENT SUMMARY [WATER DIVISION]

Full Funding 2015 2016 2017 2018 2019Fully Funded Balance $238,891 $257,876 $277,786 $178,196 $196,457Percentage Funded (%) 42% 46% 51% 25% 33%Beginning Balance $100,000 $119,828 $140,420 $44,261 $65,277Reserve Contribution $18,735 $19,297 $19,876 $20,472 $21,086Special Assessment $0 $0 $0 $0 $0Interest Earned $1,094 $1,295 $919 $545 $758Reserve Expenditures $0 $0 $116,954 $0 $0ENDING BALANCE $119,828 $140,420 $44,261 $65,277 $87,122

Threshold Funding 2015 2016 2017 2018 2019Fully Funded Balance $238,891 $257,876 $277,786 $178,196 $196,457Percentage Funded (%) 42% 46% 50% 22% 30%Beginning Balance $100,000 $118,483 $137,675 $40,061 $59,566Reserve Contribution $17,396 $17,918 $18,455 $19,009 $19,579Special Assessment $0 $0 $0 $0 $0Interest Earned $1,087 $1,274 $884 $496 $694Reserve Expenditures $0 $0 $116,954 $0 $0ENDING BALANCE $118,483 $137,675 $40,061 $59,566 $79,838

Baseline Funding 2015 2016 2017 2018 2019Fully Funded Balance $238,891 $257,876 $277,786 $178,196 $196,457Percentage Funded (%) 42% 45% 47% 17% 23%Beginning Balance $100,000 $115,264 $131,109 $30,015 $45,902Reserve Contribution $14,193 $14,619 $15,058 $15,509 $15,975Special Assessment $0 $0 $0 $0 $0Interest Earned $1,071 $1,226 $802 $378 $539Reserve Expenditures $0 $0 $116,954 $0 $0ENDING BALANCE $115,264 $131,109 $30,015 $45,902 $62,415

Current Funding 2015 2016 2017 2018 2019

Fully Funded Balance $238,891 $257,876 $277,786 $178,196 $196,457

Percentage Funded (%) 42% 61% 77% 89% 112%

Beginning Balance $100,000 $156,444 $215,115 $158,549 $220,719

Reserve Contribution $55,168 $56,823 $58,528 $60,284 $62,092

Special Assessment $0 $0 $0 $0 $0

Interest Earned $1,276 $1,849 $1,859 $1,887 $2,518

Reserve Expenditures $0 $0 $116,954 $0 $0

ENDING BALANCE $156,444 $215,115 $158,549 $220,719 $285,329


METHODOLOGY

An important aspect of living in a common area development such as a cooperative, condomin-

ium, or homeowner association is the community ’ s ownership and commitment to maintain its

common areas. Association members have a vested interest in maintaining and preserving their

investment. To meet these obligations, the Association should prudently prepare for the future

and contribute funds into a reserve account. Periodic contributions, verses ‘ s pecial assess-

ments ’ , provide the freedom to gradually accumulate for anticipated expenditures while limiting

the need to raise large sums of money through alternative means.

When implementing a policy to fund major repair or replacement, the Board must educate own-

ers about the benefits of accumulating reserve funds in advance through periodic contributions.

Benefits of a systematic accumulation of funds include the following:

having assurance that funds for major repairs and replacements will be available when

needed;

development of an equitable method of charging current rather than future owners with

the cost of the current use of assets;

preservation of the market value of individual units; and

compliance with the governing documents, statutes, mortgages, and the like.

A reserve study recommends the preferable mode of funding through smaller monthly contribu-

tions rather than risking large, unanticipated special assessments. The purpose of a reserve

study is to avoid these situations by providing an Association with access to information and

materials that will assist them in making informed decisions about their reserve fund and contri-

butions.

A reserve study is the sum of two parts: the physical and financial analysis. The physical analy-

sis is a result of the on-site collection and review of data specific to the property ’ s reserve com-

ponents, common areas, and limited common areas. Through an onsite inspection and the use

of source materials, the Reserve Specialist quantifies and establishes the reserve component

inventory and assesses the physical condition of the Association ’ s reserve components. Data

from the physical analysis is used to define the scope and timing of future anticipated expenses.

The financial analysis evaluates the condition of the Association ’ s reserve fund in relation to its

income and anticipated expenses. It appraises the adequacy of the reserve fund, and associ-

ated member contributions, against the current and future expenditures of the Association. To

adequately forecast these expenditures over the 30-year projection period, current costs, pro-

jected inflation, and interest rates must be established. Recommendations are then provided to

establish a reserve fund that addresses anticipated expenses, without having to resort to special

assessments.


Due to the long-term nature of a reserve study, certain assumptions must be made. Every effort

has been made to ensure that the recommendations are based upon reliable and experienced

sources in the building industry. However, there can be no guarantee that events will occur at

the predicted specific intervals, or that they will occur at all. Any reserve study must be viewed in

the light of circumstances existing at the actual time of the study.

PHYSICAL ANALYSIS

As part of this reserve study a comprehensive list of reserve components ( major common and

limited common elements) has been compiled. Estimates for the useful life, remaining life, plus

current repair and replacement costs for each of these reserve components have been calcu-

lated. This list is not intended to be exhaustive. However, an inaccurate or incomplete list of

components can have an adverse impact upon the Association ’ s long-term funding plan.

Site Inspection

A site inspection is conducted to assess the general condition of the property and its common

areas. The on-site inspection is visual in nature, and no destructive or invasive testing is con-

ducted. Observations are recorded using a representative sampling of the Association ’ s com-

mon areas and reserve components. The component inventory and associated field measure-

ments are also substantiated as part of the inspection.

Reserve Components

Determination of what constitutes a reserve component is dependent on a number of factors. A

four-part test is generally used to distinguish a reserve item from an operational or maintenance

expense. A component is included as a reserve item only if it satisfies ALL criteria outlined be-

low:

It is part of the Association’ s common and limited common area responsibilities.

It has a predictable useful service life.

Its useful life fits within the projection period. This means that components with a life of 30

years or more may not be included as part of the report if it is determined that they will last

beyond the projection period.

Its cost for repair or replacement is too high to include as part of the operating budget.

The components of common property that an Association includes in its reserve funding plan

are also dependent on the type of project, the construction properties and the Association ’ s

applicable governing documents and state statutes.

Component Useful Life

The useful life of a reserve component relates to the number of years it is expected to last, given

reasonable care and maintenance. The prediction of reserve and building component life can be

no more than an informed estimate based upon information made available at the time of the


report ’ s development. Consideration is given to vendor recommendations, material warranty

information provided at the time of the report ’ s development, along with other published

sources. The data and service life estimates in this report are based on information gathered

from various groups and industry sources as outlined below:

Historical data and feedback from the Association;

Management groups and maintenance managers;

Manufacturer recommendations and industry standards;

Published sources of service life data;

Manufacturers and suppliers data.

Component Remaining Useful Life

The remaining life of a reserve component refers to the number of years left before an item ’ s

expected repair or replacement. A component ’ s remaining life is contingent upon the following

factors:

Age/years in service;

Physical condition;

Frequency and quality of inspections and maintenance;

General use;

Environment, impact of weather and building location;

Installation methods that meets or exceed industry standards;

Design and quality of materials used.

In addition to deterioration or anticipated failure of a component, the longevity may be impacted

by obsolescence. The accuracy of the estimate is contingent upon reliable information made

available at the time of the report ’ s development. It is important to note that even with the high-

est degree of diligence and experience, outcomes will vary, and no guarantee can be given as

to the timing or service life of the reserve components. All service life assessments in this report

are based on the assumption that installation is carried out in accordance with manufacturer ’ s

recommendations and installation instructions, together with industry standards of workmanship.

Consideration is given to visible design and signs of improper installation of components, that

will have an impact upon the anticipated service life of the component.

FINANCIAL ANALYSIS

An Association, like any business entity, must prepare financially for the replacement and repair

of its assets. Reserve study funding analysis is an important part of the annual budget process.

Reserve funding should be reviewed at least once annually to help determine the annual as-

sessment to be charged to members. The following elements are used in the financial analysis.


Recommended Funding Rate

We advocate a program of regular reserve fund contributions and promote a gradual means of

reserving for future repair and replacement expenses. Recommended contributions are set at a

level where they require only minor annual increases. The rate is designed to distribute the an-

ticipated cost of common property ownership equitably between all members over the entire

projection period.

Fully Funded Balance

The Fully Funded balance is equal to the total depreciable cost of all the Association ’ s reserve

components. It is determined by dividing each reserve component ’ s cost by its useful life, and

multiplying that by the number of years the component has been in service ( e ffectively its

age ) . The recommendations in this report are based upon a Full Funding plan, which sets the

goal of achieving one hundred percent fully funded reserves by the end of the 30-year projection

period. We advocate full funding as we feel that this approach provides a solid platform to ad-

dress future needs, thus dramatically reducing the need for special assessment.

Percent Funded

An Association ’ s reserve fund status is assessed by comparing the ratio of actual or projected

funds available verses how much they ‘ should have saved ’ . The result is presented as a per-

centage and is commonly known as “ percent funded ” . In other words, percent funded is cal-

culated by dividing the Association ’ s current reserve fund balance by the fully funded balance.

This equation is an industry measure of how well prepared an Association is to meet its current

and future repair and replacement obligations. Percent funded highlights the strength of the as-

sociation ’ s reserve account in relation to the anticipated costs of repair and replacement.

Reserve Component Cost

Current cost estimates for reserve components are derived from a variety of sources but typi-

cally are based on the latest local vendor pricing acquired from regional contractors and suppli-

ers. When needed, additional information and cost data is sourced from national construction

estimators. All cost estimates formulated from national estimators are based upon the latest

specific geographical information for the area. Future cost estimates are determined by apply-

ing the assumed annual inflation rate to the current cost of each component.

Inflation Rate

The effect of inflation on the cost of reserve components is a key factor in the financial projec-

tions. Historically, the cost of construction materials and labor rise at a higher rate than that ex-

perienced by the general economy. RSG has chosen to use an inflationary multiplier that is

somewhat higher than the current general consumer index for inflation. The rate used is based

upon the historical average of inflation over the last 30 years. This rate reflects a realistic appre-

ciation of future costs for reserve components and assists the Association in adequately budget-

ing for increasing cost.


Interest Rate

The interest rate used in this report is formulated on a conservative rate of return. Unless other-

wise advised by the Association, an assumed net interest rate of 1.00% is used. RSG offers no

guarantee or opinion in relation to investment decisions made by the Association or the rate of

return achieved.

Current Reserve Fund Balance

The analysis, recommendations, and financial projections made within this report are heavily

reliant on information provided by the Association and its representatives. The starting reserve

fund balance ( current or projected ) and member contribution totals are supplied by these

sources. This information has not been audited nor have the financial projections or recommen-

dations.


FINANCIAL ANALYSIS [REGULAR DIVISION]

This section of the report is intended to provide the association with the awareness to ade-

quately plan for the ongoing major maintenance, repair and replacement of their common prop-

erty components. The recommendations included within this report represent one scenario, and

are not intended to represent the only means of achieving the association ’ s goals. We recom-

mend that the Board of Directors use the following information as a guide in planning for their

future objectives.

PERCENT FUNDED

The Percent Funded equation is the industry measure of how well prepared an association is to

meet its current and future repair and replacement obligations. Percent funded highlights the

strength of the association’ s reserve account in relation to its anticipated costs of repair and

replacement. The higher the funded level, the less exposed an association is to market condi-

tions, unanticipated expenses or events, and fluctuations in the general economy. An Associa-

tion at or below a funding level of 30% has an increased risk of requiring special assessments to

meet their ongoing obligations, as compared to Associations with higher funding levels.

A level of funding at and above 60% is categorized as good or well funded. We recommend

that associations look to achieve and maintain funding levels at and above 60%, with a prefer-

ence to being 100% funded.

CURRENT PERCENT FUNDED STATUS

The Association is currently 45% funded. Highlighted below, the current funding level is shown in relation

to the recommended level of 60-100%.

FUNDING GOALS

There is a range of funding alternatives available to the association. In our opinion the strategy

chosen should not only meet the immediate needs and risk tolerance of current members, but

also the longer term needs of the association.

0% 20% 40% 60% 100% 80%


The association needs to establish a reserve contribution rate which, at a minimum, meets their

anticipated financial needs without having to resort to special assessment or deferred mainte-

nance. In addition, the funding goal needs to be prudent enough to meet the expectations of

current members while not unfairly burdening future owners.

The minimum funding goal needed to meet planned expenditure is Baseline Funding. Baseline

Funding maintains the reserve account at or above zero dollars, but leaves the association with

no contingency to address unanticipated outcomes. Threshold funding is a strategy designed to

provide for this contingency by keeping cash reserves above a specific dollar amount or percent

funded level.

The reserve fund plan highlighted in this report is based upon the Full Funding program of re-

serve contributions. The Full Funding plan highlights an ideal level of contributions which will

enable an association to be 100% funded by the end of the projection period. As stated previ-

ously, we recommend that the association implement a program that moves them toward and

maintains a funding level of 60-100%.

FULL FUNDING

THRESHOLD FUNDING

BASELINE FUNDING

Establishes a goal of achieving one hundred percent fully funded reserves by the end of the projection period.

Sets out to keep the cash reserves above a specified dollar or per-cent funded amount for the duration of the projection period.

Establishes a goal of maintaining a reserve account balance above zero dollars throughout the study period.

Sets aside a minimum amount of reserves as required by local statutes.

STATUTORY FUNDING

Funding Alternatives Annual Contribution Monthly Contribution Per Unit Per Month

Full Funding $71,111 $5,926 $13.62

Threshold Funding ¹ $66,055 $5,505 $12.65

Baseline Funding $60,443 $5,037 $11.58

Current Funding $48,082 $4,007 $9.21



RESERVE FUND ACCOUNT

Projected Reserve Contributions Typically recommended contributions are set at a level where they will likely require minor annual in-

creases in line with inflation.

Projected amounts based upon a starting balance of $140,000 and annual contribution increases of 3.00%.

Projected Reserve Account Balance The growth of the Association’s reserve account is largely dependent upon the level of reserve funds con-

tributed (see figure above) and the funding objective chosen (Full, Threshold and Baseline).

$0$20,000$40,000$60,000$80,000

$100,000$120,000$140,000$160,000$180,000$200,000

2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 2039 2041 2043

Chart


$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 2039 2041 2043



REGULAR DIV. RESERVE COMPONENT LIST

Component Quanti ty Unit Cost Current Cost

Lodge - Building Exterior, Roof [Metal Standing Seam] 30 24 63 Squares $875.00 $55,125 $11,025

Lodge - Building Exterior, Skylights 30 24 3 Each $625.00 $1,875 $375

Lodge - Building Exterior, Flue/Flue Caps 30 24 2 Each $150.00 $300 $60

Lodge - Building Exterior, Siding [Replace] 50 18 6,300 SF $10.00 $63,000 $40,320

Lodge - Building Exterior, Paint & Seal 8 2 6,300 SF $1.45 $9,135 $6,851

Lodge - Building Exterior, Windows [25% Replace] 10 2 25 Each $800.00 $5,000 $4,000

Lodge - Building Exterior, Sliding Glass Doors [Replace] 40 6 3 Each $1,165.00 $3,495 $2,971

Lodge - Deck, Wrap-around [Replace] 20 1 2,100 SF $20.00 $42,000 $39,900

Lodge - Interior Flooring, Carpet 10 6 143 SY $38.00 $5,434 $2,174

Lodge - Interior Flooring, Wood [Refinish] 12 5 1,430 SF $5.00 $7,150 $4,171

Lodge - Interior Flooring, Tile 30 6 465 SF $11.50 $5,348 $4,278

Lodge - Interior Flooring, Resilient 30 6 510 SF $4.50 $2,295 $1,836

Lodge - Interior, Walls & Ceiling [Paint] 10 6 6,200 SF $1.00 $6,200 $2,480

Lodge - Interior, Restroom [Remodel] 30 24 1 Allowance $8,000.00 $8,000 $1,600

Lodge - Interior, Kitchen [Remodel] 20 14 1 Allowance $6,000.00 $6,000 $1,800

Lodge - Interior, Shower Rooms [Remodel] 30 23 1 Allowance $73,000.00 $73,000 $17,033

Lodge - Interior, Fixtures & Furnishings 10 6 1 Allowance $10,000.00 $10,000 $4,000

Lodge - Equipment, Fireplace 30 26 2 Each $1,200.00 $2,400 $320

Lodge - Equipment, Kitchen 15 11 1 Lump Sum $5,500.00 $5,500 $1,467

Lodge - Equipment, Office 5 4 1 Allowance $2,500.00 $2,500 $500

Lodge - Equipment, BBQ 10 5 1 Each $2,000.00 $2,000 $1,000

Lodge - Plumbing, Water Heater 12 2 1 Each $2,750.00 $2,750 $2,292

Shop & Garage - Building Exterior, Roof [Metal Standing Seam] 30 24 25 Squares $875.00 $21,875 $4,375

Shop & Garage - Building Exterior, Paint 8 2 1,800 SF $1.45 $2,610 $1,958

Shop & Garage - Building Exterior, Siding [Replace] 40 18 1,800 SF $6.00 $10,800 $5,940

Shop & Garage - Building Exterior, Garage Doors 20 6 3 Each $900.00 $2,700 $1,890

Shop & Garage - Equipment, General 10 5 1 Allowance $5,000.00 $5,000 $2,500

Shop & Garage - Equipment, Backhoe [Backhoe] 25 19 1 Each $40,000.00 $40,000 $9,600

Shop & Garage - Equipment, Snow Groomer 25 8 1 Each $15,000.00 $15,000 $10,200

Shop & Garage - Equipment, Vehicle [4x4] 25 7 2 Each $5,000.00 $10,000 $7,200

Shop & Garage - Fire Lookout Stations 10 9 1 Allowance $4,000.00 $4,000 $400

Equipment - Propane Tank [Replace] 20 15 1 Each $1,350.00 $1,350 $338

Equipment - Diesel Tank [Replace] 50 2 1 Each $3,500.00 $3,500 $3,360

Manager Residence - Roof [Metal Standing Seam] 30 24 1 Lump Sum $12,000.00 $12,000 $2,400

Manager Residence - Siding, Paint 8 2 1 Lump Sum $1,800.00 $1,800 $1,350

Manager Residence - Siding & Windows [Replace] 30 10 1 Lump Sum $15,000.00 $15,000 $10,000

Manager Residence - Interior Upgrades 15 14 1 Allowance $8,000.00 $8,000 $533

Swimming Pool - Equipment 5 1 1 Allowance $10,000.00 $10,000 $8,000

Swimming Pool - Cover 15 14 1 Lump Sum $3,000.00 $3,000 $200

Swimming Pool - Decking, Wood 2 x 6 [Replace] 20 15 2,100 SF $20.00 $42,000 $10,500

Swimming Pool - Furniture [Refurbish] 5 4 1 Allowance $2,000.00 $2,000 $400

Swimming Pool - Surface [Resurface] 15 13 1 Lump Sum $11,500.00 $11,500 $1,533

Swimming Pool - Surface Tile [Retile] 25 23 160 LF $16.00 $2,560 $205

Tennis Court - Resurface 6 0 7,080 SF $1.00 $7,080 $7,080

Tennis Court - Replace 40 6 7,080 SF $4.00 $28,320 $24,072

Basketball Court - Equipment 15 10 2 Each $2,450.00 $4,900 $1,633

General Site - Asphalt, Renewal & Repair 1 0 1 Lump Sum $30,000.00 $30,000 $30,000

General Site - Fence & Gates, Vinyl [Pool] 20 18 265 LF $32.50 $8,613 $861

General Site - Fence, Chainlink [Court] 30 6 356 LF $35.00 $12,460 $9,968

General Site - Fence, Split Rail 20 4 60 LF $14.00 $840 $672

General Site - Flagpole 30 5 1 Each $1,900.00 $1,900 $1,583

TOTALS $637,314 $309,203

Useful Service

Li fe

Unit of

Measure

Current Ful ly

Funded Balance

Remaining

Useful Li fe


REGULAR DIV. PROJECTED RESERVE EXPENSES (Years 1 - 10) Component 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Lodge - Building Exterior, Roof [Metal Standing Seam] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Building Exterior, Skylights $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Building Exterior, Flue/Flue Caps $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Building Exterior, Siding [Replace] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Building Exterior, Paint & Seal $0 $0 $9,691 $0 $0 $0 $0 $0 $0 $0

Lodge - Building Exterior, Windows [25% Replace] $0 $0 $5,305 $0 $0 $0 $0 $0 $0 $0

Lodge - Building Exterior, Sliding Glass Doors [Replace] $0 $0 $0 $0 $0 $0 $4,173 $0 $0 $0

Lodge - Deck, Wrap-around [Replace] $0 $43,260 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Interior Flooring, Carpet $0 $0 $0 $0 $0 $0 $6,488 $0 $0 $0

Lodge - Interior Flooring, Wood [Refinish] $0 $0 $0 $0 $0 $8,289 $0 $0 $0 $0

Lodge - Interior Flooring, Tile $0 $0 $0 $0 $0 $0 $6,385 $0 $0 $0

Lodge - Interior Flooring, Resilient $0 $0 $0 $0 $0 $0 $2,740 $0 $0 $0

Lodge - Interior, Walls & Ceiling [Paint] $0 $0 $0 $0 $0 $0 $7,403 $0 $0 $0

Lodge - Interior, Restroom [Remodel] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Interior, Kitchen [Remodel] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Interior, Shower Rooms [Remodel] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Interior, Fixtures & Furnishings $0 $0 $0 $0 $0 $0 $11,941 $0 $0 $0

Lodge - Equipment, Fireplace $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Equipment, Kitchen $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Equipment, Office $0 $0 $0 $0 $2,814 $0 $0 $0 $0 $3,262

Lodge - Equipment, BBQ $0 $0 $0 $0 $0 $2,319 $0 $0 $0 $0

Lodge - Plumbing, Water Heater $0 $0 $2,917 $0 $0 $0 $0 $0 $0 $0

Shop & Garage - Building Exterior, Roof [Metal Standing Seam] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Shop & Garage - Building Exterior, Paint $0 $0 $2,769 $0 $0 $0 $0 $0 $0 $0

Shop & Garage - Building Exterior, Siding [Replace] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Shop & Garage - Building Exterior, Garage Doors $0 $0 $0 $0 $0 $0 $3,224 $0 $0 $0

Shop & Garage - Equipment, General $0 $0 $0 $0 $0 $5,796 $0 $0 $0 $0

Shop & Garage - Equipment, Backhoe [Backhoe] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Shop & Garage - Equipment, Snow Groomer $0 $0 $0 $0 $0 $0 $0 $0 $19,002 $0

Shop & Garage - Equipment, Vehicle [4x4] $0 $0 $0 $0 $0 $0 $0 $12,299 $0 $0

Shop & Garage - Fire Lookout Stations $0 $0 $0 $0 $0 $0 $0 $0 $0 $5,219

Equipment - Propane Tank [Replace] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Equipment - Diesel Tank [Replace] $0 $0 $3,713 $0 $0 $0 $0 $0 $0 $0

Manager Residence - Roof [Metal Standing Seam] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Manager Residence - Siding, Paint $0 $0 $1,910 $0 $0 $0 $0 $0 $0 $0

Manager Residence - Siding & Windows [Replace] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Manager Residence - Interior Upgrades $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Swimming Pool - Equipment $0 $10,300 $0 $0 $0 $0 $11,941 $0 $0 $0

Swimming Pool - Cover $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Swimming Pool - Decking, Wood 2 x 6 [Replace] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Swimming Pool - Furniture [Refurbish] $0 $0 $0 $0 $2,251 $0 $0 $0 $0 $2,610

Swimming Pool - Surface [Resurface] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Swimming Pool - Surface Tile [Retile] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Tennis Court - Resurface $7,080 $0 $0 $0 $0 $0 $8,454 $0 $0 $0

Tennis Court - Replace $0 $0 $0 $0 $0 $0 $33,816 $0 $0 $0

Basketball Court - Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

General Site - Asphalt, Renewal & Repair $30,000 $30,900 $31,827 $32,782 $33,765 $34,778 $35,822 $36,896 $38,003 $39,143

General Site - Fence & Gates, Vinyl [Pool] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

General Site - Fence, Chainlink [Court] $0 $0 $0 $0 $0 $0 $14,878 $0 $0 $0

General Site - Fence, Split Rail $0 $0 $0 $0 $945 $0 $0 $0 $0 $0

General Site - Flagpole $0 $0 $0 $0 $0 $2,203 $0 $0 $0 $0

Annual Expenditure $37,080 $84,460 $58,132 $32,782 $39,775 $53,385 $147,264 $49,195 $57,005 $50,234

YEARS 1 THROUGH 10



Lodge - Building Exterior, Roof [Metal Standing Seam] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Building Exterior, Skylights $0 $0 $0 $0 $0 $0 $0 $0 $0 $0


Lodge - Building Exterior, Siding [Replace] $0 $0 $0 $0 $0 $0 $0 $0 $107,253 $0

Lodge - Building Exterior, Paint & Seal $12,277 $0 $0 $0 $0 $0 $0 $0 $15,552 $0


Lodge - Building Exterior, Sliding Glass Doors [Replace] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Deck, Wrap-around [Replace] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0


Lodge - Interior Flooring, Wood [Refinish] $0 $0 $0 $0 $0 $0 $0 $11,818 $0 $0

Lodge - Interior Flooring, Tile $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Interior Flooring, Resilient $0 $0 $0 $0 $0 $0 $0 $0 $0 $0


Lodge - Interior, Restroom [Remodel] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Interior, Kitchen [Remodel] $0 $0 $0 $0 $9,076 $0 $0 $0 $0 $0

Lodge - Interior, Shower Rooms [Remodel] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0


Lodge - Equipment, Fireplace $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Equipment, Kitchen $0 $7,613 $0 $0 $0 $0 $0 $0 $0 $0



Lodge - Plumbing, Water Heater $0 $0 $0 $0 $4,160 $0 $0 $0 $0 $0

Shop & Garage - Building Exterior, Roof [Metal Standing Seam] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Shop & Garage - Building Exterior, Paint $3,508 $0 $0 $0 $0 $0 $0 $0 $4,443 $0

Shop & Garage - Building Exterior, Siding [Replace] $0 $0 $0 $0 $0 $0 $0 $0 $18,386 $0

Shop & Garage - Building Exterior, Garage Doors $0 $0 $0 $0 $0 $0 $0 $0 $0 $0


Shop & Garage - Equipment, Backhoe [Backhoe] $0 $0 $0 $0 $0 $0 $0 $0 $0 $70,140

Shop & Garage - Equipment, Snow Groomer $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Shop & Garage - Equipment, Vehicle [4x4] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0


Equipment - Propane Tank [Replace] $0 $0 $0 $0 $0 $2,103 $0 $0 $0 $0

Equipment - Diesel Tank [Replace] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Manager Residence - Roof [Metal Standing Seam] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Manager Residence - Siding, Paint $2,419 $0 $0 $0 $0 $0 $0 $0 $3,064 $0

Manager Residence - Siding & Windows [Replace] $20,159 $0 $0 $0 $0 $0 $0 $0 $0 $0

Manager Residence - Interior Upgrades $0 $0 $0 $0 $12,101 $0 $0 $0 $0 $0


Swimming Pool - Cover $0 $0 $0 $0 $4,538 $0 $0 $0 $0 $0

Swimming Pool - Decking, Wood 2 x 6 [Replace] $0 $0 $0 $0 $0 $65,435 $0 $0 $0 $0


Swimming Pool - Surface [Resurface] $0 $0 $0 $16,888 $0 $0 $0 $0 $0 $0

Swimming Pool - Surface Tile [Retile] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Tennis Court - Resurface $0 $0 $10,094 $0 $0 $0 $0 $0 $12,053 $0

Tennis Court - Replace $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Basketball Court - Equipment $6,585 $0 $0 $0 $0 $0 $0 $0 $0 $0


General Site - Fence & Gates, Vinyl [Pool] $0 $0 $0 $0 $0 $0 $0 $0 $14,662 $0

General Site - Fence, Chainlink [Court] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

General Site - Fence, Split Rail $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

General Site - Flagpole $0 $0 $0 $0 $0 $0 $0 $0 $0 $0


YEARS 11 THROUGH 20



Lodge - Building Exterior, Roof [Metal Standing Seam] $0 $0 $0 $0 $112,058 $0 $0 $0 $0 $0

Lodge - Building Exterior, Skylights $0 $0 $0 $0 $3,811 $0 $0 $0 $0 $0


Lodge - Building Exterior, Siding [Replace] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Building Exterior, Paint & Seal $0 $0 $0 $0 $0 $0 $19,700 $0 $0 $0


Lodge - Building Exterior, Sliding Glass Doors [Replace] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Deck, Wrap-around [Replace] $0 $78,132 $0 $0 $0 $0 $0 $0 $0 $0


Lodge - Interior Flooring, Wood [Refinish] $0 $0 $0 $0 $0 $0 $0 $0 $0 $16,849

Lodge - Interior Flooring, Tile $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Interior Flooring, Resilient $0 $0 $0 $0 $0 $0 $0 $0 $0 $0


Lodge - Interior, Restroom [Remodel] $0 $0 $0 $0 $16,262 $0 $0 $0 $0 $0

Lodge - Interior, Kitchen [Remodel] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Lodge - Interior, Shower Rooms [Remodel] $0 $0 $0 $144,072 $0 $0 $0 $0 $0 $0


Lodge - Equipment, Fireplace $0 $0 $0 $0 $0 $0 $5,176 $0 $0 $0

Lodge - Equipment, Kitchen $0 $0 $0 $0 $0 $0 $11,861 $0 $0 $0



Lodge - Plumbing, Water Heater $0 $0 $0 $0 $0 $0 $5,931 $0 $0 $0

Shop & Garage - Building Exterior, Roof [Metal Standing Seam] $0 $0 $0 $0 $44,467 $0 $0 $0 $0 $0

Shop & Garage - Building Exterior, Paint $0 $0 $0 $0 $0 $0 $5,629 $0 $0 $0

Shop & Garage - Building Exterior, Siding [Replace] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Shop & Garage - Building Exterior, Garage Doors $0 $0 $0 $0 $0 $0 $5,823 $0 $0 $0


Shop & Garage - Equipment, Backhoe [Backhoe] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Shop & Garage - Equipment, Snow Groomer $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Shop & Garage - Equipment, Vehicle [4x4] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0


Equipment - Propane Tank [Replace] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Equipment - Diesel Tank [Replace] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Manager Residence - Roof [Metal Standing Seam] $0 $0 $0 $0 $24,394 $0 $0 $0 $0 $0

Manager Residence - Siding, Paint $0 $0 $0 $0 $0 $0 $3,882 $0 $0 $0

Manager Residence - Siding & Windows [Replace] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Manager Residence - Interior Upgrades $0 $0 $0 $0 $0 $0 $0 $0 $0 $18,853


Swimming Pool - Cover $0 $0 $0 $0 $0 $0 $0 $0 $0 $7,070

Swimming Pool - Decking, Wood 2 x 6 [Replace] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0


Swimming Pool - Surface [Resurface] $0 $0 $0 $0 $0 $0 $0 $0 $26,311 $0

Swimming Pool - Surface Tile [Retile] $0 $0 $0 $5,052 $0 $0 $0 $0 $0 $0

Tennis Court - Resurface $0 $0 $0 $0 $14,392 $0 $0 $0 $0 $0

Tennis Court - Replace $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Basketball Court - Equipment $0 $0 $0 $0 $0 $10,260 $0 $0 $0 $0


General Site - Fence & Gates, Vinyl [Pool] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

General Site - Fence, Chainlink [Court] $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

General Site - Fence, Split Rail $0 $0 $0 $0 $1,708 $0 $0 $0 $0 $0

General Site - Flagpole $0 $0 $0 $0 $0 $0 $0 $0 $0 $0


YEARS 21 THROUGH 30


REGULAR DIV. RESERVE FUNDING PLAN (Years 1 - 10)

¹ The per unit calculation is an average and does not take into consideration percentage ownership.

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Fully Funded Balance $309,203 $341,964 $328,756 $344,176 $388,132 $428,224 $457,585 $393,276 $430,258 $462,581

Percentage Funded (%) 45% 51% 51% 54% 60% 64% 67% 63% 67% 70%

Beginning Balance $140,000 $175,601 $166,084 $185,141 $232,140 $274,922 $306,869 $247,271 $288,197 $324,320

Reserve Contribution $71,111 $73,244 $75,441 $77,704 $80,036 $82,437 $84,910 $87,457 $90,081 $92,783

Avg Unit Contribution (mth)¹ $13.62 $14.03 $14.45 $14.89 $15.33 $15.79 $16.27 $16.75 $17.26 $17.77

Contribution Increase (%) 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00%

Special Assessment

Interest Earned $1,570 $1,700 $1,747 $2,076 $2,523 $2,894 $2,757 $2,664 $3,047 $3,456Reserve Expenditures $37,080 $84,460 $58,132 $32,782 $39,775 $53,385 $147,264 $49,195 $57,005 $50,234

ENDING BALANCE $175,601 $166,084 $185,141 $232,140 $274,922 $306,869 $247,271 $288,197 $324,320 $370,326

YEARS 1 THROUGH 10

0%

20%

40%

60%

80%

100%

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Percent Funded

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Fully Funded Balance Beginning Balance




2025 2026 2027 2028 2029 2030 2031 2032 2033 2034






Contribution Increase (%) 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00%

Special Assessment


ENDING BALANCE $384,382 $423,854 $469,690 $518,089 $548,900 $539,922 $560,605 $622,623 $522,895 $515,102

YEARS 1 THROUGH 10 YEARS 11 THROUGH 20

0%

20%

40%

60%

80%

100%

2025 2026 2027 2028 2029 2030 2031 2032 2033 2034

Percent Funded

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

2025 2026 2027 2028 2029 2030 2031 2032 2033 2034





2035 2036 2037 2038 2039 2040 2041 2042 2043 2044







Special Assessment


ENDING BALANCE $594,874 $580,464 $655,806 $594,035 $455,979 $522,005 $489,472 $586,142 $660,089 $700,937


0%

20%

40%

60%

80%

100%

2035 2036 2037 2038 2039 2040 2041 2042 2043 2044

Percent Funded

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

2035 2036 2037 2038 2039 2040 2041 2042 2043 2044



REGULAR DIV. THIRTY YEAR RESERVE FUND SUMMARY

Year

2015 $309,203 45% $140,000 $71,111 $0 $1,570 $37,080 $175,601

2016 $341,964 51% $175,601 $73,244 $0 $1,700 $84,460 $166,084

2017 $328,756 51% $166,084 $75,441 $0 $1,747 $58,132 $185,141

2018 $344,176 54% $185,141 $77,704 $0 $2,076 $32,782 $232,140

2019 $388,132 60% $232,140 $80,036 $0 $2,523 $39,775 $274,922

2020 $428,224 64% $274,922 $82,437 $0 $2,894 $53,385 $306,869

2021 $457,585 67% $306,869 $84,910 $0 $2,757 $147,264 $247,271

2022 $393,276 63% $247,271 $87,457 $0 $2,664 $49,195 $288,197

2023 $430,258 67% $288,197 $90,081 $0 $3,047 $57,005 $324,320

2024 $462,581 70% $324,320 $92,783 $0 $3,456 $50,234 $370,326

2025 $505,192 73% $370,326 $95,567 $0 $3,755 $85,265 $384,382

2026 $515,414 75% $384,382 $98,434 $0 $4,021 $62,983 $423,854

2027 $551,379 77% $423,854 $101,387 $0 $4,445 $59,996 $469,690

2028 $594,061 79% $469,690 $104,428 $0 $4,914 $60,944 $518,089

2029 $639,684 81% $518,089 $107,561 $0 $5,308 $82,058 $548,900

2030 $667,647 82% $548,900 $110,788 $0 $5,417 $125,183 $539,922

2031 $654,828 82% $539,922 $114,111 $0 $5,475 $98,904 $560,605

2032 $671,575 83% $560,605 $117,535 $0 $5,887 $61,403 $622,623

2033 $730,419 85% $622,623 $121,061 $0 $5,699 $226,487 $522,895

2034 $624,050 84% $522,895 $124,693 $0 $5,164 $137,650 $515,102

2035 $609,142 85% $515,102 $128,433 $0 $5,522 $54,183 $594,874

2036 $683,003 87% $594,874 $132,286 $0 $5,847 $152,544 $580,464

2037 $661,109 88% $580,464 $136,255 $0 $6,151 $67,064 $655,806

2038 $730,046 90% $655,806 $140,343 $0 $6,218 $208,332 $594,035

2039 $659,090 90% $594,035 $144,553 $0 $5,224 $287,833 $455,979

2040 $507,771 90% $455,979 $148,890 $0 $4,866 $87,729 $522,005

2041 $561,780 93% $522,005 $153,356 $0 $5,032 $190,921 $489,472

2042 $514,996 95% $489,472 $157,957 $0 $5,351 $66,639 $586,142

2043 $598,810 98% $586,142 $162,696 $0 $6,200 $94,949 $660,089

2044 $660,089 100% $660,089 $167,577 $0 $6,771 $133,499 $700,937

Reserve

Contribution

Special

Assessment

Reserve

Expenditures

Ending

Balance

Fully Funded

Balance

Percentage

Funded

Beginning

Balance Interest Earned


FINANCIAL ANALYSIS [WATER DIVISION]

This section of the report is intended to provide the association with the awareness to ade-

quately plan for the ongoing major maintenance, repair and replacement of their common prop-

erty components. The recommendations included within this report represent one scenario, and

are not intended to represent the only means of achieving the association ’ s goals. We recom-

mend that the Board of Directors use the following information as a guide in planning for their

future objectives.

PERCENT FUNDED

The Percent Funded equation is the industry measure of how well prepared an association is to

meet its current and future repair and replacement obligations. Percent funded highlights the

strength of the association’ s reserve account in relation to its anticipated costs of repair and

replacement. The higher the funded level, the less exposed an association is to market condi-

tions, unanticipated expenses or events, and fluctuations in the general economy. An Associa-

tion at or below a funding level of 30% has an increased risk of requiring special assessments to

meet their ongoing obligations, as compared to Associations with higher funding levels.

A level of funding at and above 60% is categorized as good or well funded. We recommend

that associations look to achieve and maintain funding levels at and above 60%, with a prefer-

ence to being 100% funded.

CURRENT PERCENT FUNDED STATUS

The Association is currently 42% funded. Highlighted below, the current funding level is shown in relation

to the recommended level of 60-100%.

FUNDING GOALS

There is a range of funding alternatives available to the association. In our opinion the strategy

chosen should not only meet the immediate needs and risk tolerance of current members, but

also the longer term needs of the association.

0% 20% 40% 60% 100% 80%


The association needs to establish a reserve contribution rate which, at a minimum, meets their

anticipated financial needs without having to resort to special assessment or deferred mainte-

nance. In addition, the funding goal needs to be prudent enough to meet the expectations of

current members while not unfairly burdening future owners.

The minimum funding goal needed to meet planned expenditure is Baseline Funding. Baseline

Funding maintains the reserve account at or above zero dollars, but leaves the association with

no contingency to address unanticipated outcomes. Threshold funding is a strategy designed to

provide for this contingency by keeping cash reserves above a specific dollar amount or percent

funded level.

The reserve fund plan highlighted in this report is based upon the Full Funding program of re-

serve contributions. The Full Funding plan highlights an ideal level of contributions which will

enable an association to be 100% funded by the end of the projection period. As stated previ-

ously, we recommend that the association implement a program that moves them toward and

maintains a funding level of 60-100%.

FULL FUNDING

THRESHOLD FUNDING

BASELINE FUNDING

Establishes a goal of achieving one hundred percent fully funded reserves by the end of the projection period.

Sets out to keep the cash reserves above a specified dollar or per-cent funded amount for the duration of the projection period.

Establishes a goal of maintaining a reserve account balance above zero dollars throughout the study period.

Sets aside a minimum amount of reserves as required by local statutes.

STATUTORY FUNDING

Funding Alternatives Annual Contribution Monthly Contribution Per Unit Per Month

Full Funding $18,735 $1,561 $3.59

Threshold Funding ¹ $17,396 $1,450 $3.33

Baseline Funding $14,193 $1,183 $2.72

Current Funding $55,168 $4,597 $10.57



RESERVE FUND ACCOUNT

Projected Reserve Contributions Typically recommended contributions are set at a level where they will likely require minor annual in-

creases in line with inflation.

Projected amounts based upon a starting balance of $100,000 and annual contribution increases of 3.00%.

Projected Reserve Account Balance The growth of the Association’s reserve account is largely dependent upon the level of reserve funds con-

tributed (see figure above) and the funding objective chosen (Full, Threshold and Baseline).

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

$140,000

2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 2039 2041 2043

Chart


$0

$100,000

$200,000

$300,000

$400,000

$500,000

2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 2039 2041 2043



Component Quantity Unit Cost Current Cost

DIVISIONS I AND II

Mill Creek Reservoir - 30,000 gal Water Tanks 50 20 2 Each $30,000.00 $60,000 $36,000

Mill Creek Reservoir - Pumps & Control Panel 15 7 1 Lump Sum $15,000.00 $15,000 $8,000

Highland Drive Reservoir - 70,000 gal Water Tank 50 20 1 Each $70,000.00 $70,000 $42,000

Dumbarton Rd - Well House 30 10 1 Lump Sum $10,000.00 $10,000 $6,667

Dumbarton Rd - Well - Submersible Motors 10 5 2 Each $8,000.00 $16,000 $8,000

Pump Station No. 2 - 30,000 gal Water Tank 50 20 1 Each $30,000.00 $30,000 $18,000

Pump Station No. 2 - Pumps & Control Panel 15 7 1 Lump Sum $15,000.00 $15,000 $8,000

DIVISION III

Well Station No. 1 - Well House 30 10 1 Lump Sum $10,000.00 $10,000 $6,667

Well Station No. 1 - Control Panel 15 7 1 Lump Sum $5,000.00 $5,000 $2,667

GENERAL

General Site - Water System, Water Meters 30 2 1 Lump Sum $110,240.00 $110,240 $102,891

TOTALS $341,240 $238,891

Useful Service

Li fe

Unit of

Measure

Current Ful ly

Funded Balance

Remaining

Useful Li fe

WATER DIV. RESERVE COMPONENT LIST

Note: The list above is based upon limited information provided as part of the development of this report. We have not received nor have been able to source any documentation on the Water Division including the RH2 report and detail on the Associa-tion’s water tanks, pumps and controllers. Significant modifications to the information above may be anticipated on review.


Component 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

DIVISIONS I AND II $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Mill Creek Reservoir - 30,000 gal Water Tanks $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Mill Creek Reservoir - Pumps & Control Panel $0 $0 $0 $0 $0 $0 $0 $18,448 $0 $0

Highland Drive Reservoir - 70,000 gal Water Tank $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Dumbarton Rd - Well House $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Dumbarton Rd - Well - Submersible Motors $0 $0 $0 $0 $0 $18,548 $0 $0 $0 $0

Pump Station No. 2 - 30,000 gal Water Tank $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Pump Station No. 2 - Pumps & Control Panel $0 $0 $0 $0 $0 $0 $0 $18,448 $0 $0

DIVISION III $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Well Station No. 1 - Well House $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Well Station No. 1 - Control Panel $0 $0 $0 $0 $0 $0 $0 $6,149 $0 $0

GENERAL $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

General Site - Water System, Water Meters $0 $0 $116,954 $0 $0 $0 $0 $0 $0 $0

Annual Expenditure $0 $0 $116,954 $0 $0 $18,548 $0 $43,046 $0 $0

YEARS 1 THROUGH 10

WATER DIV. PROJECTED RESERVE EXPENSES (Years 1 - 10)


Component 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034


Mill Creek Reservoir - 30,000 gal Water Tanks $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Mill Creek Reservoir - Pumps & Control Panel $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Highland Drive Reservoir - 70,000 gal Water Tank $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Dumbarton Rd - Well House $13,439 $0 $0 $0 $0 $0 $0 $0 $0 $0


Pump Station No. 2 - 30,000 gal Water Tank $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Pump Station No. 2 - Pumps & Control Panel $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

DIVISION III $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Well Station No. 1 - Well House $13,439 $0 $0 $0 $0 $0 $0 $0 $0 $0

Well Station No. 1 - Control Panel $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

GENERAL $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

General Site - Water System, Water Meters $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Annual Expenditure $26,878 $0 $0 $0 $0 $24,927 $0 $0 $0 $0

YEARS 11 THROUGH 20



Component 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044


Mill Creek Reservoir - 30,000 gal Water Tanks $108,367 $0 $0 $0 $0 $0 $0 $0 $0 $0

Mill Creek Reservoir - Pumps & Control Panel $0 $0 $28,742 $0 $0 $0 $0 $0 $0 $0

Highland Drive Reservoir - 70,000 gal Water Tank $126,428 $0 $0 $0 $0 $0 $0 $0 $0 $0

Dumbarton Rd - Well House $0 $0 $0 $0 $0 $0 $0 $0 $0 $0


Pump Station No. 2 - 30,000 gal Water Tank $54,183 $0 $0 $0 $0 $0 $0 $0 $0 $0

Pump Station No. 2 - Pumps & Control Panel $0 $0 $28,742 $0 $0 $0 $0 $0 $0 $0

DIVISION III $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Well Station No. 1 - Well House $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Well Station No. 1 - Control Panel $0 $0 $9,581 $0 $0 $0 $0 $0 $0 $0

GENERAL $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

General Site - Water System, Water Meters $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Annual Expenditure $288,978 $0 $67,064 $0 $0 $33,500 $0 $0 $0 $0

YEARS 21 THROUGH 30



WATER DIV. RESERVE FUNDING PLAN (Years 1 - 10)


2015 2016 2017 2018 2019 2020 2021 2022 2023 2024






Contribution Increase (%) 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00%

Special Assessment

Interest Earned $1,094 $1,295 $919 $545 $758 $887 $1,024 $1,046 $1,075 $1,326Reserve Expenditures $0 $0 $116,954 $0 $0 $18,548 $0 $43,046 $0 $0

ENDING BALANCE $119,828 $140,420 $44,261 $65,277 $87,122 $91,179 $114,573 $95,614 $120,421 $146,192

YEARS 1 THROUGH 10

0%

20%

40%

60%

80%

100%

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Percent Funded

$0

$100,000

$200,000

$300,000

$400,000

$500,000

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024





2025 2026 2027 2028 2029 2030 2031 2032 2033 2034







Special Assessment

Interest Earned $1,453 $1,589 $1,868 $2,158 $2,459 $2,646 $2,845 $3,178 $3,524 $3,883Reserve Expenditures $26,878 $0 $0 $0 $0 $24,927 $0 $0 $0 $0

ENDING BALANCE $145,945 $173,467 $202,047 $231,717 $262,514 $269,421 $302,329 $336,472 $371,891 $408,625


0%

20%

40%

60%

80%

100%

2025 2026 2027 2028 2029 2030 2031 2032 2033 2034

Percent Funded

$0

$100,000

$200,000

$300,000

$400,000

$500,000

2025 2026 2027 2028 2029 2030 2031 2032 2033 2034





2035 2036 2037 2038 2039 2040 2041 2042 2043 2044







Special Assessment

Interest Earned $2,811 $1,737 $1,773 $1,820 $2,213 $2,454 $2,710 $3,147 $3,601 $4,072Reserve Expenditures $288,978 $0 $67,064 $0 $0 $33,500 $0 $0 $0 $0

ENDING BALANCE $156,295 $192,884 $163,491 $202,285 $242,582 $250,762 $293,875 $338,637 $385,101 $433,322


0%

20%

40%

60%

80%

100%

2035 2036 2037 2038 2039 2040 2041 2042 2043 2044

Percent Funded

$0

$100,000

$200,000

$300,000

$400,000

$500,000

2035 2036 2037 2038 2039 2040 2041 2042 2043 2044



WATER DIV. THIRTY YEAR RESERVE FUND SUMMARY

Year

2015 $238,891 42% $100,000 $18,735 $0 $1,094 $0 $119,828

2016 $257,876 46% $119,828 $19,297 $0 $1,295 $0 $140,420

2017 $277,786 51% $140,420 $19,876 $0 $919 $116,954 $44,261

2018 $178,196 25% $44,261 $20,472 $0 $545 $0 $65,277

2019 $196,457 33% $65,277 $21,086 $0 $758 $0 $87,122

2020 $215,653 40% $87,122 $21,719 $0 $887 $18,548 $91,179

2021 $216,719 42% $91,179 $22,370 $0 $1,024 $0 $114,573

2022 $237,333 48% $114,573 $23,041 $0 $1,046 $43,046 $95,614

2023 $214,652 45% $95,614 $23,732 $0 $1,075 $0 $120,421

2024 $236,063 51% $120,421 $24,444 $0 $1,326 $0 $146,192

2025 $258,566 57% $146,192 $25,178 $0 $1,453 $26,878 $145,945

2026 $254,522 57% $145,945 $25,933 $0 $1,589 $0 $173,467

2027 $278,518 62% $173,467 $26,711 $0 $1,868 $0 $202,047

2028 $303,724 67% $202,047 $27,512 $0 $2,158 $0 $231,717

2029 $330,192 70% $231,717 $28,338 $0 $2,459 $0 $262,514

2030 $357,975 73% $262,514 $29,188 $0 $2,646 $24,927 $269,421

2031 $361,453 75% $269,421 $30,064 $0 $2,845 $0 $302,329

2032 $391,262 77% $302,329 $30,965 $0 $3,178 $0 $336,472

2033 $422,535 80% $336,472 $31,894 $0 $3,524 $0 $371,891

2034 $455,332 82% $371,891 $32,851 $0 $3,883 $0 $408,625

2035 $489,716 83% $408,625 $33,837 $0 $2,811 $288,978 $156,295

2036 $228,107 69% $156,295 $34,852 $0 $1,737 $0 $192,884

2037 $256,937 75% $192,884 $35,897 $0 $1,773 $67,064 $163,491

2038 $218,216 75% $163,491 $36,974 $0 $1,820 $0 $202,285

2039 $248,088 82% $202,285 $38,084 $0 $2,213 $0 $242,582

2040 $279,556 87% $242,582 $39,226 $0 $2,454 $33,500 $250,762

2041 $278,183 90% $250,762 $40,403 $0 $2,710 $0 $293,875

2042 $312,017 94% $293,875 $41,615 $0 $3,147 $0 $338,637

2043 $347,631 97% $338,637 $42,863 $0 $3,601 $0 $385,101

2044 $385,101 100% $385,101 $44,149 $0 $4,072 $0 $433,322

Reserve

Contribution

Special

Assessment

Reserve

Expenditures

Ending

Balance

Fully Funded

Balance

Percentage

Funded

Beginning

Balance Interest Earned


PHYSICAL ANALYSIS

This section of the report provides specific information regarding the physical condition of the

property. The physical data that follows is a result of the visual ( non-intrusive) site review,

that includes discussion with on-site managers ( or Board members ) regarding known condi-

tions of the components. Advance planning results in the mitigation of component deterioration,

and provides a direct correlation between components and their remaining useful life.

Site Inspection

A site inspection is conducted to assess the general condition of the property and its reserve

components. The on-site inspection is visual in nature, and no destructive or invasive testing is

conducted. Observations are recorded using a representative sampling of the Association ’ s

common areas and reserve components. The component inventory and associated field meas-

urements are also substantiated as part of the inspection.

Component Inventory

The component inventory summarizes associated costs of each reserve component, and addi-

tionally highlights preventative maintenance requirements and provides a graphic of the remain-

ing useful life. The inventory provides a visual reference point for understanding the Associa-

tion ’ s common area responsibilities. Preventative maintenance requirements ( highlighted in

orange ) are coordinated for use in conjunction with items outlined in the preceding Mainte-

nance Plan.


Lodge - Equipment, BBQQuantity 1

Unit of Measure Each

Current Cost $2,000.00

Future Cost $2,687.83

Estimated Useful Life 15

Action Required Replace

Date Required 2024

0

RUL

Estimated Useful Life

1

2

COMPONENT INVENTORY

The following inventory summarizes the cost, timing and maintenance needs of the each of re-

serve components funded through the Association’ s reserves. The list of components is

unique to the Association and may serve as a general guide in determining the current condition

and level of care needed to adequately maintain each component.

Understanding the Component Inventory

In addition to a photo, three key sections of information are provided for each reserve compo-

nent. The information is intended to visually simplify and summarize the key points of informa-

tion on a component by component basis.

Key Component Information

Key information including the quantity, unit of measure, current cost, future cost, estimated

and useful life expectations, action and date required is tabulated for easy reference.


The bar chart graphically represents the remaining useful life ( RUL ) of the reserve com-

ponent in green. The RUL visualizes the percentage of time remaining until the next repair

or replacement event as measured against the component ’ s estimated useful life.

1

2


Lodge - Building Exterior, Roof [Metal Standing Seam]Quantity 63

Unit of Measure Squares





Date Required 2039

Lodge - Building Exterior, SkylightsQuantity 3






Date Required 2039

Lodge - Building Exterior, Flue/Flue CapsQuantity 2


Current Cost $300.00

Future Cost $609.84



Date Required 2039

0465

0590

0647

RUL


RUL


RUL



Lodge - Building Exterior, Siding [Replace]Quantity 6,300

Unit of Measure SF





Date Required 2033

Lodge - Building Exterior, Paint & SealQuantity 6,300

Unit of Measure SF




Action Required Recoat

Date Required 2017

Lodge - Building Exterior, Windows [25% Replace]Quantity 25






Date Required 2017

0511

0

0

RUL


RUL


RUL



Lodge - Building Exterior, Sliding Glass Doors [Replace]Quantity 3






Date Required 2021

Lodge - Deck, Wrap-around [Replace]Quantity 2,100

Unit of Measure SF





Date Required 2016

Lodge - Interior Flooring, CarpetQuantity 143

Unit of Measure SY





Date Required 2021

0

0

0

RUL


RUL


RUL



Lodge - Interior Flooring, Wood [Refinish]Quantity 1,430

Unit of Measure SF




Action Required Refinish

Date Required 2020

Lodge - Interior Flooring, TileQuantity 465

Unit of Measure SF





Date Required 2021

Lodge - Interior Flooring, ResilientQuantity 510

Unit of Measure SF





Date Required 2021

0

0

0

RUL


RUL


RUL



Lodge - Interior, Walls & Ceiling [Paint]Quantity 6,200

Unit of Measure SF





Date Required 2021

Lodge - Interior, Restroom [Remodel]Quantity 1

Unit of Measure Allowance




Action Required Remodel

Date Required 2039

Lodge - Interior, Kitchen [Remodel]Quantity 1






Date Required 2029

0

0

0

RUL


RUL


RUL



Lodge - Interior, Shower Rooms [Remodel]Quantity 1






Date Required 2038

Lodge - Interior, Fixtures & FurnishingsQuantity 1






Date Required 2021

Lodge - Equipment, Fireplace Quantity 2






Date Required 2041

0

0

0

RUL


RUL


RUL



Lodge - Equipment, Kitchen Quantity 1

Unit of Measure Lump Sum





Date Required 2026

Lodge - Equipment, Office Quantity 1






Date Required 2019

Lodge - Equipment, BBQQuantity 1






Date Required 2020

0

0

No Photo Available

RUL


RUL


RUL



Lodge - Plumbing, Water HeaterQuantity 1






Date Required 2017

Shop & Garage - Building Exterior, Roof [Metal Standing Seam]Quantity 25

Unit of Measure Squares





Date Required 2039

Shop & Garage - Building Exterior, Paint Quantity 1,800

Unit of Measure SF





Date Required 2017

0

0

0

RUL


RUL


RUL



Shop & Garage - Building Exterior, Siding [Replace]Quantity 1,800

Unit of Measure SF





Date Required 2033

Shop & Garage - Building Exterior, Garage DoorsQuantity 3






Date Required 2021

Shop & Garage - Equipment, GeneralQuantity 1






Date Required 2020

0

0

0

RUL


RUL


RUL



Shop & Garage - Equipment, Backhoe [Backhoe]Quantity 1






Date Required 2034

Shop & Garage - Equipment, Snow GroomerQuantity 1






Date Required 2023

Shop & Garage - Equipment, Vehicle [4x4]Quantity 2






Date Required 2022

0

0

0

RUL


RUL


RUL



Shop & Garage - Fir

reserve study | annual report - inland networks › ~pineloch › documents ›...

Documents