Reserve Study Transmittal Letter - Crystal Falls Ranchcrystalfallsranch.com/.../Browning-Report-5-10-16.pdf · 5/10/2016 · Crystal Falls Association First Draft Table of Contents

Reserve Study Transmittal Letter

Date: May 10, 2016To: Lois Alameda, Crystal Falls AssociationFrom: Browning Reserve Group (BRG)

Re: Crystal Falls Association; Update w/ Site Visit Review

Attached, please find the reserve study for Crystal Falls Association. To assist in your understanding of the study, and to highlight key information you may need quickly, we have listed below some of the important information contained in the study. At BRG our goal is to bring clarity from complexity, so should you have any questions, please do not hesitate to contact us anytime.

1. Where do I find the recommended reserve contribution for next year's budget?

This is found in Section III, “30 Year Reserve Funding Plan, Cash Flow Method.” $58,605 is the annual amount. Directly under the annual amount is the amount per ownership interest, per month, or other period, as applicable. $5.74 /Lot/month @ 851. For any other funding related issues, if any, see Section III, “30 Year Reserve Funding Plan, Cash Flow Method.”

2. Where do I find the status of the reserve fund, based on the Percent Funded calculation?

This is found for the 30-year term of the study in Section IV, “30 Year Reserve Funding Plan, Including Fully Funded Balance and % Funded.” For the year for which the study was prepared, 2017, the Association is 13.0% funded.

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

California statute imposes no reserve funding level requirements nor does it address funding level adequacy, and although one or more of the reserve fund percentages expressed in this report may be less than one hundred percent, those percentages do not necessarily indicate that the Association's reserves are inadequately funded.

3. Where do I find the assumptions for interest and inflation factors?

While this information is in various places in the study, it can always be found in Section III, “30 Year Reserve Funding Plan, Cash Flow Method.” For this study the assumption is 2.50% for the interest rate and 2.50% for the inflation factor. Please be advised these rates estimate the values that will stand the test of time over the 30-year term of the study, not simply only next year.

P. O. Box 60125 / Sacramento, California 95860Phone (916) 393-0600 Fax (916) 393-0610 Toll Free (877) 708-0600

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May 10, 2016 - Reserve Study

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4. What pages from the reserve study get mailed to the members (homeowners)?

Please see the last section of the reserve study, "Member Distribution Materials." These are the last six pages (or more) of the study which can be removed, and copied, for distribution to the membership with the budget packet. This packet includes all state mandated disclosures related to the reserves and the reserve study. This section of the study is a stand-alone packet with it's own cover and table of contents.

5. What are the next steps?

This study meets the CA Civil Code Requirements for a site visit study every three years. The next site visit study will be due in three years. For the intervening two years, BRG proposes doing an Update Without Site Visit Study during the next two years at a nominal cost which will include the preparation of a reserve study and required disclosures including the “California Assessment and Reserve Funding Disclosure Summary,” which under law, must be presented to the association members each year.

Please read the two helpful sections entitled “Glossary” and “Notes to the Auditor.” The glossary explains common reserve study terms as well as BRG specific terminology. The Notes to the Auditor while intended to assist the auditor, has useful information for the casual reader on how year zero,

(2016) the current fiscal year is dealt with in the study.

Thank you for the opportunity to work with the Crystal Falls Association on this study.

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Crystal Falls Association

Published - May 10, 2016

Prepared for the 2017 Fiscal Year


[email protected] / www.BrowningRG.com

Browning Reserve Group

Update w/ Site Visit Review

First Draft

RESERVE STUDY

© Browning Reserve Group 2016

Clarity from Complexity

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Crystal Falls AssociationFirst Draft

Table of Contents

Section Report Page

Section I: Summary of Association Reserves 1

Section II: 30 Year Expense Forecast 5Detailed

Section III: 30 Year Reserve Funding Plan 17Cash Flow Method {c}

Section III-a: 30 Year Reserve Funding Plan 18Cash Flow Method - Ending Balances Chart

Section IV: 30 Year Reserve Funding Plan 19Fully Funded Balance and % Funded

Section IV-a: 30 Year Reserve Funding Plan 20Cash Flow Method - Percent Funded Chart

Section V: Reserve Fund Balance Forecast 21Component Method

Section VI: Component Listing 29Included Components

Section VI-b: Component Listing 78Excluded Components

Section VII: Tabular Component Listing 82Included Components

Section VII-a: Expenditures by Year 88- Next 4 Years

Section X: Auditor Notes 91

Section X-a: Supplementary Information for

Auditor93Component Method

Section XI: Glossary 98Reserve Study Terms

Addendum:

Member Distribution Materials See Page ii for Details

TOC - i

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Crystal Falls AssociationFirst Draft

Member Distribution Materials

The following Reserve Study sections, located at the end of the report, should be provided to each member.

Section Report

California: Member Summary

Assessment and Reserve Funding

Disclosure Summary[Civil Code §5570]

Section III: 30 Year Reserve Funding Plan Cash Flow Method {c}

TOC - ii

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First Draft

Section I

Reserve Study Summary

A Reserve Study was conducted of Crystal Falls Association (the "Association"). An Update With Site-Visit Review is a reserve study update in which the following tasks are performed:

development of a reserve component inventory (verification only, not quantification);

condition assessment based upon on-site visual observation;

life and valuation estimates;

fund status;

and a funding plan.

Crystal Falls Association is a Planned Development with a total of 851 Lotss.

Physical Inspection

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

1. As of the date of the study, they have a remaining useful life of less than 30 years, and a value greater than $1,000.

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

During the inspection, BRG utilized the services of our own construction cost estimator. In addition, independent contractors were retained to render opinions on selected components as indicated in Section VI, Included Component Listing.

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

1. Project plans where available.

2. Maintenance records of the reserve components where available.

3. Association board members, management and staff.

Summary of Reserves

For the first year of the Reserve Study, the reserve contribution is based upon the existing budget unless otherwise noted in “Section III, Reserve Funding Plan.” In addition BRG relied on the Association to provide an accurate Beginning Reserve Balance.


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Reserve Study - Update w/ Site Visit Review

Crystal Falls Association2

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

1. The Expenditure Forecast of the following Reserve Study identifies the major components which the Association is obligated to repair, replace, restore or maintain, as determined in accordance with the criteria specified above, and specifies for each such component:

a. Its current estimated replacement cost;

b. Its estimated useful life; and

c. Its estimated remaining useful life.

2. It is estimated that the total cash reserves necessary to repair, replace, restore or maintain such major components (in the aggregate) during and at the end of their first remaining useful life is $313,304.

[For purposes of this calculation, “necessary” is defined as the Fully

Funded Balance (FFB) (Component Current Cost X Effective Age / Useful Life, including a provision for interest and inflation in future years.)]

3. The current amount of accumulated cash reserves actually set aside to repair, replace, restore, or maintain such major components as of the fiscal year ending December 31, 2017 is estimated to be $40,838, constituting 13.0% of the total expenditures anticipated for all such major components through their first end of useful life replacement.

4. Based upon the schedule of annual reserve contributions necessary to defray the cost of repairing, replacing, restoring or maintaining such major components in the years such expenditures are estimated to be required, it is estimated that annual reserve contributions in the initial amount of $58,605 [$5.74 per Lot per month (average)] for the fiscal year ending December 31, 2017 (the first full fiscal year following first distribution of this report) will be necessary in order to meet all such reserve expenditures when they are projected to come due.

Funding Assessment



Percent Funded Status

Based on paragraphs 1 - 3 above, the Association is 13.0% funded. The following scale can be used as a measure to determine the Association’s financial picture whereas the lower the percentage, the higher the likelihood of the Association requiring a special assessment, or other large increases to the reserve contribution in the future.

Percent Funded

30% 100%----------- Strong -------------------------------- Fair ------------------------------------ Poor --------------- 70%



Methodology

The above recommended reserve contribution for the next fiscal year (and future fiscal years as outlined in Section III, Reserve Fund Balance Forecast) was developed using the cash flow method. This is a method of developing a reserve funding plan where the contributions to the reserve fund are designed to offset the variable annual expenditures from the reserve fund. Different reserve funding plans are tested against the anticipated schedule of reserve expenses until the desired funding goal is achieved.

Funding Goals

The funding goal employed for Crystal Falls Association is

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

Limitations

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

Statutory Disclosures

Compliance

The Reserve Study was conducted pursuant to Sections 5300 and 5550 of the California Civil Code.

Open Meeting

California Civil Code Section 5560 says (in part):

The (Reserve Funding) plan shall be adopted by the board of directors at an open meeting before the membership of the association as described in Article 2 (commencing with Section 4900) of Chapter 6. If the board of directors determines that an assessment increase is necessary to fund the reserve funding plan, any increase shall be approved in a separate action of the board that is consistent with the procedure described in Section 5605.

Supplemental Disclosures

General:

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



Personnel Credentials:

BRG is a licensed general building contractor in California, #768851, and the owner, Robert W Browning, holds the Reserve Specialist designation, #46 from the Community Associations Institute.

Completeness:

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

Reliance on Client Data:

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

Scope:

This Reserve Study is a reflection of information provided to BRG and assembled for the Association's use, not for the purpose of performing an audit, quality/forensic analysis, health and safety inspection, or background checks of historical records.

Reserve Balance:

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

Reserve Projects:

Information provided about reserve projects will be considered reliable. Any on-site inspection should not be considered a project audit, quality inspection, or health and safety review.

Component Quantities:

The Association warrants the previously developed component quantities are accurate and reliable.



Section II

30 Year Expense Forecast - DetailedFirst Draft


Reserve Component 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030Remaining

Life

Useful /

Cost

Replacement

Current

See Section VI-b for Excluded Components

Paving01000 -

100 - Asphalt: Sealing 12,195 Sq. Ft. Clubhouse Parking

2,439 5 1 2,500 2,828 3,200

110 - Asphalt: Sealing 2,596 Sq. Ft. Gym Building Parking

519 5 1 532 602 681

120 - Asphalt: Sealing 5,031 Sq. Ft. Basketball Ct & Tennis Parking

1,006 5 1 1,031 1,167 1,320

200 - Asphalt: Ongoing Repairs 12,195 Sq. Ft. Clubhouse Parking (2%)

793 5 1 812 919 1,040

210 - Asphalt: Ongoing Repairs 2,596 Sq. Ft. Gym Building Parking (2%)

169 5 1 173 196 221

220 - Asphalt: Ongoing Repairs 5,031 Sq. Ft. Basketball Ct & Tennis Parking (2%)

327 5 1 335 379 429

300 - Asphalt: Overlay w/ Interlayer 12,195 Sq. Ft. Clubhouse Parking

21,341 25 17

310 - Asphalt: Overlay w/ Interlayer 2,596 Sq. Ft. Gym Building Parking

4,585 25 17

320 - Asphalt: Overlay w/ Interlayer Road to Upper Lake

14,000 25 22

340 - Asphalt: Overlay w/ Interlayer 5,031 Sq. Ft. Basketball Ct & Tennis Parking

8,885 25 17

820 - Striping All Parking Areas

1,005 5 1 1,030 1,165 1,319

6,414 7,257 8,211Total 01000 - Paving 55,069

Concrete02000 -

220 - Walkways 1,250 Sq. Ft. Clubhouse (3%)

600 5 0 679 768600

300 - Driveways 6,835 Sq. Ft. Barn Entrance Drive (3%)

5,000 15 0 5,000

5,600 679 768Total 02000 - Concrete 5,600

Painting: Exterior03000 -

132 - Surface Restoration 4,466 Sq. Ft. Barn

4,019 5 2 4,223 4,778 5,406

136 - Surface Restoration Clubhouse Railings

3,501 5 4 3,864 4,372 4,947

454 - Wood Fencing 82 Lin. Ft. Corral Perimeter

492 5 1 504 571 646

504 4,223 3,864 571 4,778 4,372 646 5,406 4,947Total 03000 - Painting: Exterior 8,012

Painting: Interior03500 -

104 - Building 5,079 Sq. Ft. Clubhouse

7,111 10 4 7,849 10,047

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Life

Useful /

Cost

Replacement

Current

See Section VI-b for Excluded ComponentsCrystal Falls Association

30 Year Expense Forecast - Detailed

First Draft


7,849 10,047Total 03500 - Painting: Interior 7,111

Structural Repairs04000 -

200 - Wood: Siding & Trim 2,148 Sq. Ft. Fitness Building

17,184 40 35

210 - Wood: Siding & Trim 4,240 Sq. Ft. Clubhouse

38,160 40 15

232 - Wood: Siding & Trim 4,466 Sq. Ft. Barn (5%)

1,786 10 12 2,403

550 - Bridge Maintenance Upper Lake Spillway

1,270 5 4 1,402 1,586 1,794

826 - Floating Dock Lower Lake

16,280 20 12 21,895

960 - Awnings Barn Shade Shelters

5,465 15 8 6,659

961 - Awnings 2 Barn Shade Shelters (2016 Only)[nr:1]

1,754 1 0 1,754

996 - Miscellaneous Barn PVC Pipe

3,920 20 13 5,404

1,754 1,402 6,659 1,586 24,297 5,404 1,794Total 04000 - Structural Repairs 85,819

Decking/Balconies04500 -

100 - Wood 364 Sq. Ft. Clubhouse Upper Level

18,200 20 6 21,106

320 - Railing: Wood 181 Lin. Ft. Clubhouse

5,792 25 15

21,106Total 04500 - Decking/Balconies 23,992

Roofing05000 -

400 - Pitched: Dimensional Composition 36 Squares- Clubhouse

12,600 25 21

410 - Pitched: Dimensional Composition Gym Bldg Pump House

750 25 5 849

412 - Pitched: Dimensional Composition 99 Squares- Barn

32,175 25 21

500 - Pitched: Dimensional Composition 11 Squares- Gym Building

5,500 25 23

700 - Gutters / Downspouts 220 Lin. Ft. Clubhouse

1,760 30 26

712 - Gutters / Downspouts 282 Lin. Ft. Barn

2,651 25 21

720 - Gutters / Downspouts 54 Lin. Ft. Gym Building

481 30 26

849Total 05000 - Roofing 55,916

Rehab08000 -

100 - General Barn

3,900 15 10 4,992

226 - Restrooms Clubhouse Upper Level

3,320 20 2 3,488

230 - Kitchen Clubhouse Lower Level

5,190 20 11 6,810

236 - Kitchen Clubhouse Upper Level

7,725 20 12 10,389

240 - Clubhouse Lower Floor Decorating

10,045 20 2 10,554


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Life

Useful /

Cost

Replacement

Current



First Draft


242 - Clubhouse Upper Floor Decorating

3,863 15 7 4,592

246 - Restrooms Clubhouse Lower Level

3,500 20 13 4,825

248 - Restrooms 2 Clubhouse Upper Level (50%)

3,795 20 2 3,987

250 - General Office

4,030 20 11 5,288

18,029 4,592 4,992 12,097 10,389 4,825Total 08000 - Rehab 45,368

Gate Equipment11000 -

780 - Pedestrian Gate Lower Lake Access

6,650 30 20

Total 11000 - Gate Equipment 6,650

Recreation14000 -

290 - Exercise: Miscellaneous Equip. Gym Building (50%)

2,760 8 4 3,047 3,712

900 - Miscellaneous Barn Horse Tack (20%)

1,100 5 3 1,185 1,340 1,516

1,185 3,047 1,340 3,712 1,516Total 14000 - Recreation 3,860

Tennis Court17000 -

100 - Reseal 5,000 Sq. Ft. Tennis Court

4,000 7 7 4,755 5,652

500 - Resurface 5,000 Sq. Ft. Tennis Court

10,000 21 21

550 - Fixtures Tennis Court Net

532 5 0 602 681532

532 602 4,755 681 5,652Total 17000 - Tennis Court 14,532

Basketball / Sport Court17500 -

200 - Seal & Striping 3,510 Sq. Ft. Basketball Court

2,106 7 7 2,503 2,976

400 - Overlay 3,510 Sq. Ft. Basketball Court

7,020 20 20

900 - Basketball Standard Basketball Court

500 5 0 566 640500

904 - Miscellaneous Court Surfaces (2016 Only)[nr:1]

14,000 20 0 14,000

14,500 566 2,503 640 2,976Total 17500 - Basketball / Sport Court

23,626

Landscaping18000 -

340 - Irrigation: Pumps Pump House (50%)

3,150 5 1 3,229 3,653 4,133

3,229 3,653 4,133Total 18000 - Landscaping 3,150

Lakes / Ponds18500 -

330 - Aeration Heads / Diffusers Lower Lake

4,190 10 7 4,981

334 - Aeration Heads / Diffusers Third Aerator

1,290 10 3 1,389 1,778

620 - Pump / Motor Lower Lake Drain

880 5 3 948 1,072 1,213


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Useful /

Cost

Replacement

Current



First Draft


911 - Miscellaneous Lower Lake Weir Gate Valve

25,168 35 31

914 - Miscellaneous Lower & Upper Lake Maintenance

30,000 2 1 30,750 32,307 33,942 35,661 37,466 39,363 41,355

990 - Miscellaneous Floating Dock

6,570 5 0 7,433 8,4106,570

6,570 30,750 34,644 41,376 40,641 1,072 37,466 8,410 39,363 44,347Total 18500 - Lakes / Ponds 68,098

Fencing19000 -

110 - Chain Link: 6' 80 Lin. Ft. Basketball Court Backstops (50%)

600 35 10 768

112 - Chain Link: 6' 1,730 Lin. Ft. Upper Lake Perimeter

29,410 35 20

120 - Chain Link: 8' 1,259 Lin. Ft. Clubhouse & Lake Perimeter (15%)

3,588 5 4 3,961 4,481 5,070

130 - Chain Link: 10' 300 Lin. Ft. Tennis Courts

7,200 30 15

324 - Wood: 4' 78 Lin. Ft. Barn East Perimeter

1,794 18 4 1,980


2,880 18 10 3,687

540 - Metal 2,000 Lin. Ft. Corral Fencing (10%)

3,400 6 5 3,847 4,461

542 - Metal 835 Lin. Ft. Barn Perimeter

33,400 30 5 37,789

543 - Metal Barn Perimeter (2016 Only)[nr:1]

1,754 1 0 1,754

1,754 5,941 41,636 4,481 4,455 4,461 5,070Total 19000 - Fencing 84,026

Retaining Wall19500 -

120 - Wood: 1' 40 Lin. Ft. Lower Lake

1,600 25 7 1,902

1,902Total 19500 - Retaining Wall 1,600

Lighting20000 -

100 - Exterior: Misc. Fixtures Barn Security Lighting

1,105 15 9 1,380

1,380Total 20000 - Lighting 1,105

Signage21000 -

792 - Monument Community Entrance

1,400 20 15

Total 21000 - Signage 1,400

Office Equipment22000 -

100 - Computers, Misc. Office Equipment

2,500 5 3 2,692 3,046 3,446

2,692 3,046 3,446Total 22000 - Office Equipment 2,500

Mechanical Equipment23000 -

200 - Furnace Clubhouse Lower Level

880 20 10 1,126

202 - Furnace Clubhouse Upper Level

880 20 5 996


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Life

Useful /

Cost

Replacement

Current



First Draft


996 - Swamp Cooler 3 Clubhouse

7,770 12 7 9,236

996 9,236 1,126Total 23000 - Mechanical Equipment

9,530

Furnishings24000 -

100 - Office Desk, Chair Clubhouse (50%)

1,700 12 4 1,876

102 - Tables 3 Clubhouse Lower Level

1,485 20 5 1,680

110 - Chairs 123 Clubhouse

6,150 12 5 6,958

130 - Tables 13 Clubhouse

1,885 12 3 2,030

2,030 1,876 8,638Total 24000 - Furnishings 11,220

Safety / Access24600 -

520 - Card Readers Lower Lake Access Control

3,500 10 6 4,059

700 - Security System Alarms & Cameras

3,865 6 3 4,162 4,827

701 - Security System Alarms & Cameras (2016 Only)[nr:1]

1,040 1 0 1,040

720 - Security System Park (50%)

4,378 6 5 4,953 5,744

1,040 4,162 4,953 4,059 4,827 5,744Total 24600 - Safety / Access 12,783

Flooring25000 -

200 - Miscellaneous 217 Sq. Yds. Clubhouse Upper Level

8,680 15 7 10,318

210 - Carpeting 10 Sq. Yds. Clubhouse Office Lower Level

350 10 1 359 459

600 - Vinyl 52 Sq. Yds. Clubhouse Lower Level

2,080 12 1 2,132 2,867

604 - Vinyl 19 Sq. Yds. Clubhouse Upper Level Restrooms (50%)

380 7 2 399 475

2,491 399 10,318 475 459 2,867Total 25000 - Flooring 11,490

Outdoor Equipment26000 -

100 - Tot Lot: Play Equipment Upper Lake

5,000 18 7 5,943

102 - Tot Lot: Play Equipment Lower Lake

5,000 15 7 5,943

200 - Pedestal Grill BBQ 3 Lower & Upper Lakes

1,170 20 3 1,260


780 20 5 882

210 - Barbecue Lower Lake Near Clubhouse

400 5 2 420 475 538

300 - Picnic Table: Wood 5 Lower & Upper Lakes (40%)

1,430 7 5 1,618 1,923

310 - Wood Benches 11 Lower Lake

5,500 12 6 6,378

480 - Drinking Fountain Clubhouse

775 15 9 968


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Life

Useful /

Cost

Replacement

Current



First Draft


420 1,260 2,500 6,378 12,362 968 2,461Total 26000 - Outdoor Equipment 20,055

Appliances27000 -

200 - Refrigerator Clubhouse Lower Level

1,100 12 4 1,214


800 12 4 883

208 - Refrigerator Clubhouse Upper Level

880 12 4 971

276 - Oven: Wall Clubhouse Lower Level

1,600 12 2 1,681 2,261

280 - Cook Top Stove Clubhouse Upper Level

500 12 3 538

284 - Cook Top Stove Clubhouse Lower Level

550 12 5 622

300 - Dishwasher Clubhouse Lower Level

850 10 2 893 1,143

2,574 538 3,069 622 1,143 2,261Total 27000 - Appliances 6,280

Miscellaneous30000 -

442 - Miscellaneous Horse- Harley

695 24 6 806

446 - Miscellaneous Horse- Cowgirl

1,280 24 8 1,560

700 - Tools Barn Maintenance Shop (20%)

720 2 1 738 775 815 856 899 945 993

810 - Tractor 1983 Case 480 LL

18,200 15 5 20,592

812 - Tractor Kubota Tractor

20,862 15 12 28,057

830 - Vehicle 2002 Ford Ranger

6,620 10 1 6,786 8,686

7,524 775 21,406 806 856 1,560 899 9,631 28,057 993Total 30000 - Miscellaneous 48,377

Undesignated32000 -

100 - Miscellaneous Reserve Items

1,100 1 1 1,128 1,156 1,185 1,214 1,245 1,276 1,308 1,340 1,374 1,408 1,443 1,479 1,516 1,554

1,128 1,156 1,185 1,214 1,245 1,276 1,308 1,340 1,374 1,408 1,443 1,479 1,516 1,554Total 32000 - Undesignated 1,100

31,750 52,039 26,801 48,471 28,262 126,067 45,106 93,251 15,017 57,828 22,481 86,187 76,945 64,914 34,301Total Expenditures Inflated @ 2.50%

618,270Total Current Replacement Cost


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Reserve Component 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045



First Draft


Paving01000 -


3,621 4,097 4,635


771 872 987


1,494 1,690 1,912


1,177 1,331 1,506


250 283 321


485 549 621


32,473


6,976


24,102


13,520


1,492 1,688 1,910

9,290 52,970 10,511 24,102 11,892Total 01000 - Paving

Concrete02000 -


983 1,112869


7,241

8,110 983 1,112Total 02000 - Concrete



6,116 6,920 7,829


5,597 6,332 7,164


730 826 935

730 6,116 5,597 826 6,920 6,332 935 7,829 7,164Total 03000 - Painting: Exterior



12,861

12,861Total 03500 - Painting: Interior




55,267


3,075


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First Draft



2,030 2,297 2,599



9,644


996 - Miscellaneous Barn PVC Pipe

55,267 2,030 3,075 9,644 2,297 2,599Total 04000 - Structural Repairs



34,585


8,389

8,389 34,585Total 04500 - Decking/Balconies

Roofing05000 -


21,163



54,041


9,705


3,345


4,452


913

79,656 9,705 4,258Total 05000 - Roofing

Rehab08000 -

100 - General Barn

7,230


5,716




17,293


6,651



6,533



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First Draft


36,193 7,230Total 08000 - Rehab



10,897

10,897Total 11000 - Gate Equipment

Recreation14000 -


4,523 5,510


1,716 1,941 2,196

1,716 4,523 1,941 7,706Total 14000 - Recreation

Tennis Court17000 -


6,718 7,986


16,796


872 986770

770 872 23,514 986 7,986Total 17000 - Tennis Court



3,537 4,205


11,503


819 927724


724 12,322 3,537 927 4,205Total 17500 - Basketball / Sport Court

Landscaping18000 -


4,676 5,291 5,986

4,676 5,291 5,986Total 18000 - Landscaping



6,376 8,161


2,276


1,372 1,553 1,757



45,649 47,960 50,387 52,938 55,618 58,434 61,39243,449


10,766 12,1809,515

52,964 52,024 1,372 47,960 10,766 50,387 56,768 67,799 66,595 1,757 61,392Total 18500 - Lakes / Ponds

Fencing19000 -


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First Draft




48,192


5,736 6,490 7,343


10,428


3,088


5,750


5,174 6,000 6,958



10,428 5,174 5,736 48,192 3,088 6,000 6,490 5,750 14,301Total 19000 - Fencing



Total 19500 - Retaining Wall

Lighting20000 -


1,999

1,999Total 20000 - Lighting

Signage21000 -


2,028

2,028Total 21000 - Signage



3,899 4,412 4,991

3,899 4,412 4,991Total 22000 - Office Equipment




1,631


12,422

12,422 1,631Total 23000 - Mechanical Equipment

Furnishings24000 -


2,524 3,394


2,753


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First Draft


110 - Chairs 123 Clubhouse

9,358 12,585


3,6722,730

2,730 2,524 9,358 2,753 3,672 3,394 12,585Total 24000 - Furnishings



5,196 6,651


6,492 7,5285,598



6,661 7,725 8,958

5,598 5,196 6,661 6,492 7,725 6,651 7,528 8,958Total 24600 - Safety / Access

Flooring25000 -


14,943


588


3,856


564 671

564 588 14,943 671 3,856Total 25000 - Flooring



9,270


8,608


2,065


1,446


609 689 779


2,286 2,717


8,578


1,402

609 8,578 2,286 9,296 2,065 1,402 10,716 2,717 779Total 26000 - Outdoor Equipment

Appliances27000 -


1,633 2,196


1,188 1,597


1,306 1,757


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First Draft



3,040


974724


837 1,126


1,463

724 4,127 837 1,463 3,040 974 5,550 1,126Total 27000 - Appliances





1,096 1,151 1,209 1,271 1,335 1,402 1,4731,043


29,823


40,635


11,119

1,043 1,096 1,151 29,823 12,328 1,271 1,335 42,037 1,473Total 30000 - Miscellaneous

Undesignated32000 -


1,633 1,674 1,716 1,759 1,802 1,848 1,894 1,941 1,990 2,039 2,090 2,143 2,196 2,2511,593

1,593 1,633 1,674 1,716 1,759 1,802 1,848 1,894 1,941 1,990 2,039 2,090 2,143 2,196 2,251Total 32000 - Undesignated

150,368 28,740 136,517 17,281 78,940 120,179 194,977 100,976 102,140 33,371 100,386 72,155 131,557 43,536 111,850Total Expenditures Inflated @ 2.50%


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Section III

30 Year Reserve Funding Plan Cash Flow MethodFirst Draft


2016 2017 2018 2019 2020 2021 2022 2023 20252024

12,781 37,478 40,838 75,079 90,708 129,013 71,124 95,688 133,23874,105Beginning Balance

31,750 52,039 26,801 48,471 28,262 126,067 45,106 93,251 57,82815,017Inflated Expenditures @ 2.5%

60,000 58,605 60,305 62,054 63,854 65,706 67,611 69,572 73,66671,590Reserve Contribution

5.88 5.74 5.91 6.08 6.25 6.43 6.62 6.81 7.217.01Lots/month @ 851

-2.3% 2.9% 2.9% 2.9% 2.9% 2.9% 2.9% 2.9%2.9%Percentage Increase

1 -4,173 -4,173 -695 0 0 0 0 0 00Special Assessments / Other

620 967 1,431 2,047 2,713 2,471 2,059 2,096 3,5292,560Interest Pre Tax @ 2.50%

37,478 40,838 75,079 90,708 129,013 71,124 95,688 74,105 152,606133,238Ending Balance

Kubota tractor installment plan.1)

2026 2027 2028 2029 2030 2031 2032 2033 20352034




7.42 7.64 7.86 8.09 8.32 8.56 8.81 9.07 9.609.33Lots/month @ 851

2.9% 2.9% 2.9% 2.9% 2.9% 2.9% 2.9% 2.9% 2.9%2.9%Percentage Increase

0 0 0 0 0 0 0 0 00Special Assessments / Other

4,482 5,158 5,226 5,619 6,614 6,626 6,771 7,157 9,1707,762Interest Pre Tax @ 2.50%

210,408 207,379 215,922 239,217 296,515 240,223 308,240 271,476 385,512357,238Ending Balance

2036 2037 2038 2039 2040 2041 2042 2043 20452044




9.88 10.17 10.46 10.76 11.08 11.40 11.73 12.07 12.7812.42Lots/month @ 851



9,397 8,251 7,391 7,746 9,034 10,456 11,513 12,292 15,14813,536Interest Pre Tax @ 2.50%

375,616 292,703 305,942 321,470 410,243 436,704 495,826 499,799 630,400596,611Ending Balance

© Browning Reserve Group 2016 171106

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Section III-a

30 Year Reserve Funding Plan Cash Flow Method - Ending BalancesFirst Draft


$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2031

2032

2033

2034

2035

2036

2037

2038

2039

2040

2041

2042

2043

2044

2045

Years

Fu

nd

Bala

nce


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Section IV

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


Year

Beginning

Balance

Fully Funded

Balance

Percent

Funded

Reserve

Contribution

Special Assessments

& Other Contributions Interest

Ending

Balance@ 2.50%

Inflated

Expenditures

2016 12,781 288,182 13.0% 31,750 60,000 -4,173 620 37,478

2017 37,478 313,304 13.0% 52,039 58,605 -4,173 967 40,838

2018 40,838 321,730 23.3% 26,801 60,305 -695 1,431 75,079

2019 75,079 357,586 25.4% 48,471 62,054 0 2,047 90,708

2020 90,708 373,689 34.5% 28,262 63,854 0 2,713 129,013

2021 129,013 412,330 17.2% 126,067 65,706 0 2,471 71,124

2022 71,124 353,144 27.1% 45,106 67,611 0 2,059 95,688

2023 95,688 376,956 19.7% 93,251 69,572 0 2,096 74,105

2024 74,105 353,545 37.7% 15,017 71,590 0 2,560 133,238

2025 133,238 411,307 37.1% 57,828 73,666 0 3,529 152,606

2026 152,606 428,240 49.1% 22,481 75,802 0 4,482 210,408

2027 210,408 483,475 42.9% 86,187 78,000 0 5,158 207,379

2028 207,379 476,481 45.3% 76,945 80,262 0 5,226 215,922

2029 215,922 480,517 49.8% 64,914 82,590 0 5,619 239,217

2030 239,217 498,761 59.5% 34,301 84,985 0 6,614 296,515

2031 296,515 550,658 43.6% 150,368 87,450 0 6,626 240,223

2032 240,223 486,748 63.3% 28,740 89,986 0 6,771 308,240

2033 308,240 547,821 49.6% 136,517 92,596 0 7,157 271,476

2034 271,476 501,909 71.2% 17,281 95,281 0 7,762 357,238

2035 357,238 579,073 66.6% 78,940 98,044 0 9,170 385,512

2036 385,512 597,025 62.9% 120,179 100,887 0 9,397 375,616

2037 375,616 575,264 50.9% 194,977 103,813 0 8,251 292,703

2038 292,703 478,454 63.9% 100,976 106,824 0 7,391 305,942

2039 305,942 477,793 67.3% 102,140 109,922 0 7,746 321,470

2040 321,470 478,192 85.8% 33,371 113,110 0 9,034 410,243

2041 410,243 551,420 79.2% 100,386 116,390 0 10,456 436,704

2042 436,704 560,174 88.5% 72,155 119,765 0 11,513 495,826

2043 495,826 600,530 83.2% 131,557 123,238 0 12,292 499,799

2044 499,799 583,516 102.2% 43,536 126,812 0 13,536 596,611

2045 596,611 658,869 95.7% 111,850 130,490 0 15,148 630,400

191106

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Section IV-a

30 Year Reserve Funding Plan Cash Flow Method - Percent FundedFirst Draft


0

10

20

30

40

50

60

70

80

90

100

110

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2031

2032

2033

2034

2035

2036

2037

2038

2039

2040

2041

2042

2043

2044

2045

Years

Perc

en

t Fu

nd

ed


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Section V

Reserve Fund Balance Forecast Component MethodFirst Draft


Reserve ComponentCurrent

Repl. Cost

Useful

Life

Remaining

Life

Estimated

Future

Replacement

Costs

Per

Year

% Per Year

Straight Line

2017

2017 Fully

Funded

Balance

2016 Fully

Funded

Balance

Line Item

Contribution

based on

Cash Flow Method

01000 - Paving

2,500 500 0.86% 5042,439 2,500100 - Asphalt: Sealing

12,195 Sq. Ft. Clubhouse Parking5 1 1,951

532 106 0.18% 107519 532110 - Asphalt: Sealing

2,596 Sq. Ft. Gym Building Parking5 1 415

1,031 206 0.35% 2081,006 1,031120 - Asphalt: Sealing

5,031 Sq. Ft. Basketball Ct & Tennis Parking5 1 805

812 162 0.28% 164793 812200 - Asphalt: Ongoing Repairs 12,195 Sq. Ft. Clubhouse Parking (2%)

5 1 634

173 35 0.06% 35169 173210 - Asphalt: Ongoing Repairs

2,596 Sq. Ft. Gym Building Parking (2%)5 1 135

335 67 0.12% 68327 335220 - Asphalt: Ongoing Repairs 5,031 Sq. Ft. Basketball Ct & Tennis Parking (2%)

5 1 262

32,473 1,299 2.23% 1,30821,341 7,875300 - Asphalt: Overlay w/ Interlayer

12,195 Sq. Ft. Clubhouse Parking25 17 6,829

6,976 279 0.48% 2814,585 1,692310 - Asphalt: Overlay w/ Interlayer

2,596 Sq. Ft. Gym Building Parking25 17 1,467


Road to Upper Lake25 22 1,680


5,031 Sq. Ft. Basketball Ct & Tennis Parking25 17 2,843

1,030 206 0.35% 2081,005 1,030820 - Striping

All Parking Areas5 1 804

Sub-total [01000 - Paving] 83,486 4,366 7.50% 4,39755,069 21,55617,826

02000 - Concrete

600 120 0.21% 121600 123220 - Walkways

1,250 Sq. Ft. Clubhouse (3%)5 0 600

5,000 333 0.57% 3365,000 342300 - Driveways

6,835 Sq. Ft. Barn Entrance Drive (3%)15 0 5,000

Sub-total [02000 - Concrete] 5,600 453 0.78% 4575,600 4655,600


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Repl. Cost

Useful

Life

Remaining

Life

Estimated

Future

Replacement

Costs

Per

Year

% Per YearStraight Line

2017

2017 Fully

Funded

Balance

2016 Fully

Funded

Balance

Line Item

Contribution

based on

Cash Flow Method


Reserve Fund Balance Forecast Component Method

First Draft


03000 - Painting: Exterior

4,223 845 1.45% 8514,019 3,296132 - Surface Restoration

4,466 Sq. Ft. Barn5 2 2,412

3,864 773 1.33% 7793,501 1,435136 - Surface Restoration

Clubhouse Railings5 4 700

504 101 0.17% 102492 504454 - Wood Fencing 82 Lin. Ft. Corral Perimeter

5 1 394

Sub-total [03000 - Painting: Exterior] 8,592 1,718 2.95% 1,7318,012 5,2363,505

03500 - Painting: Interior

7,849 785 1.35% 7917,111 5,102104 - Building

5,079 Sq. Ft. Clubhouse10 4 4,266

04000 - Structural Repairs

0 0 0.00% 017,184 2,642200 - Wood: Siding & Trim 2,148 Sq. Ft. Fitness Building

40 35 2,148

55,267 1,382 2.37% 1,39238,160 25,424210 - Wood: Siding & Trim

4,240 Sq. Ft. Clubhouse40 15 23,850

2,403 185 0.32% 1861,786 153232 - Wood: Siding & Trim

4,466 Sq. Ft. Barn (5%)10 12 137

1,402 280 0.48% 2821,270 521550 - Bridge Maintenance

Upper Lake Spillway5 4 254

21,895 1,095 1.88% 1,10316,280 7,509826 - Floating Dock

Lower Lake20 12 6,512

6,659 444 0.76% 4475,465 2,988960 - Awnings

Barn Shade Shelters15 8 2,550

0 0 0.00% 01,754 0961 - Awnings

2 Barn Shade Shelters (2016 Only)[nr:1]1 0 1,754

5,404 270 0.46% 2723,920 1,607996 - Miscellaneous Barn PVC Pipe

20 13 1,372

Sub-total [04000 - Structural Repairs] 93,029 3,656 6.28% 3,68285,819 40,84338,578

04500 - Decking/Balconies

21,106 1,055 1.81% 1,06318,200 13,991100 - Wood

364 Sq. Ft. Clubhouse Upper Level20 6 12,740

8,389 336 0.58% 3385,792 2,612320 - Railing: Wood

181 Lin. Ft. Clubhouse25 15 2,317

Sub-total [04500 - Decking/Balconies] 29,495 1,391 2.39% 1,40123,992 16,60315,057


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Repl. Cost

Useful

Life

Remaining

Life

Estimated

Future

Replacement

Costs

Per

Year


2017

2017 Fully

Funded

Balance

2016 Fully

Funded

Balance

Line Item

Contribution

based on

Cash Flow Method



First Draft


05000 - Roofing

21,163 847 1.45% 85312,600 2,583400 - Pitched: Dimensional Composition

36 Squares- Clubhouse25 21 2,016

849 34 0.06% 34750 646410 - Pitched: Dimensional Composition

Gym Bldg Pump House25 5 600

54,041 2,162 3.72% 2,17732,175 6,596412 - Pitched: Dimensional Composition 99 Squares- Barn

25 21 5,148

9,705 388 0.67% 3915,500 677500 - Pitched: Dimensional Composition

11 Squares- Gym Building25 23 440

3,345 111 0.19% 1121,760 301700 - Gutters / Downspouts

220 Lin. Ft. Clubhouse30 26 235

4,452 178 0.31% 1792,651 543712 - Gutters / Downspouts

282 Lin. Ft. Barn25 21 424

913 30 0.05% 31481 82720 - Gutters / Downspouts

54 Lin. Ft. Gym Building30 26 64

Sub-total [05000 - Roofing] 94,467 3,750 6.45% 3,77855,916 11,4278,927

08000 - Rehab

4,992 333 0.57% 3353,900 1,599100 - General Barn

15 10 1,300

3,488 174 0.30% 1763,320 3,233226 - Restrooms

Clubhouse Upper Level20 2 2,988

6,810 340 0.59% 3435,190 2,660230 - Kitchen

Clubhouse Lower Level20 11 2,336

10,389 519 0.89% 5237,725 3,563236 - Kitchen Clubhouse Upper Level

20 12 3,090

10,554 528 0.91% 53210,045 9,781240 - Clubhouse

Lower Floor Decorating20 2 9,041

4,592 306 0.53% 3083,863 2,376242 - Clubhouse

Upper Floor Decorating15 7 2,060

4,825 241 0.41% 2433,500 1,435246 - Restrooms


3,987 199 0.34% 2013,795 3,695248 - Restrooms

2 Clubhouse Upper Level (50%)20 2 3,416

5,288 264 0.45% 2664,030 2,065250 - General

Office20 11 1,814

Sub-total [08000 - Rehab] 54,925 2,906 4.99% 2,92745,368 30,40827,268

11000 - Gate Equipment

10,897 363 0.62% 3666,650 2,499780 - Pedestrian Gate

Lower Lake Access30 20 2,217


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Repl. Cost

Useful

Life

Remaining

Life

Estimated

Future

Replacement

Costs

Per

Year


2017

2017 Fully

Funded

Balance

2016 Fully

Funded

Balance

Line Item

Contribution

based on

Cash Flow Method



First Draft


14000 - Recreation

3,047 381 0.65% 3842,760 1,768290 - Exercise: Miscellaneous Equip.

Gym Building (50%)8 4 1,380

1,185 237 0.41% 2391,100 677900 - Miscellaneous

Barn Horse Tack (20%)5 3 440

Sub-total [14000 - Recreation] 4,231 618 1.06% 6223,860 2,4451,820

17000 - Tennis Court

4,755 594 1.02% 5994,000 586100 - Reseal

5,000 Sq. Ft. Tennis Court7 7 500

16,796 763 1.31% 76910,000 488500 - Resurface

5,000 Sq. Ft. Tennis Court21 21 455

532 106 0.18% 107532 109550 - Fixtures

Tennis Court Net5 0 532

Sub-total [17000 - Tennis Court] 22,083 1,464 2.52% 1,47514,532 1,1831,487

17500 - Basketball / Sport Court

2,503 313 0.54% 3152,106 308200 - Seal & Striping

3,510 Sq. Ft. Basketball Court7 7 263

11,503 548 0.94% 5527,020 360400 - Overlay

3,510 Sq. Ft. Basketball Court20 20 334

500 100 0.17% 101500 103900 - Basketball Standard

Basketball Court5 0 500

0 0 0.00% 014,000 0904 - Miscellaneous

Court Surfaces (2016 Only)[nr:1]20 0 14,000

Sub-total [17500 - Basketball / Sport Court] 14,506 961 1.65% 96823,626 77115,098

18000 - Landscaping

3,229 646 1.11% 6503,150 3,229340 - Irrigation: Pumps

Pump House (50%)5 1 2,520


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Repl. Cost

Useful

Life

Remaining

Life

Estimated

Future

Replacement

Costs

Per

Year


2017

2017 Fully

Funded

Balance

2016 Fully

Funded

Balance

Line Item

Contribution

based on

Cash Flow Method



First Draft


18500 - Lakes / Ponds

4,981 498 0.86% 5024,190 1,718330 - Aeration Heads / Diffusers


1,389 139 0.24% 1401,290 1,058334 - Aeration Heads / Diffusers

Third Aerator10 3 903

948 190 0.33% 191880 541620 - Pump / Motor Lower Lake Drain

5 3 352

0 0 0.00% 025,168 3,685911 - Miscellaneous

Lower Lake Weir Gate Valve35 31 2,876

30,750 15,375 26.43% 15,48730,000 30,750914 - Miscellaneous

Lower & Upper Lake Maintenance2 1 15,000

6,570 1,314 2.26% 1,3246,570 1,347990 - Miscellaneous

Floating Dock5 0 6,570

Sub-total [18500 - Lakes / Ponds] 44,637 17,516 30.10% 17,64368,098 39,09926,958

19000 - Fencing

768 22 0.04% 22600 457110 - Chain Link: 6'

80 Lin. Ft. Basketball Court Backstops (50%)35 10 429

48,192 1,377 2.37% 1,38729,410 13,781112 - Chain Link: 6' 1,730 Lin. Ft. Upper Lake Perimeter

35 20 12,604

3,961 792 1.36% 7983,588 1,471120 - Chain Link: 8'

1,259 Lin. Ft. Clubhouse & Lake Perimeter (15%)5 4 718

10,428 348 0.60% 3507,200 3,936130 - Chain Link: 10'

300 Lin. Ft. Tennis Courts30 15 3,600

1,980 110 0.19% 1111,794 1,532324 - Wood: 4' 78 Lin. Ft. Barn East Perimeter

18 4 1,395

3,687 205 0.35% 2062,880 1,476340 - Wood: 6'

80 Lin. Ft. Barn East Perimeter18 10 1,280

3,847 641 1.10% 6463,400 1,162540 - Metal

2,000 Lin. Ft. Corral Fencing (10%)6 5 567

37,789 1,260 2.16% 1,26933,400 29,670542 - Metal

835 Lin. Ft. Barn Perimeter30 5 27,833

0 0 0.00% 01,754 0543 - Metal

Barn Perimeter (2016 Only)[nr:1]1 0 1,754

Sub-total [19000 - Fencing] 110,651 4,754 8.17% 4,78984,026 53,48550,180

19500 - Retaining Wall

1,902 76 0.13% 771,600 1,246120 - Wood: 1' 40 Lin. Ft. Lower Lake

25 7 1,152

20000 - Lighting

1,380 92 0.16% 931,105 529100 - Exterior: Misc. Fixtures Barn Security Lighting

15 9 442


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Repl. Cost

Useful

Life

Remaining

Life

Estimated

Future

Replacement

Costs

Per

Year


2017

2017 Fully

Funded

Balance

2016 Fully

Funded

Balance

Line Item

Contribution

based on

Cash Flow Method



First Draft


21000 - Signage

2,028 101 0.17% 1021,400 431792 - Monument

Community Entrance20 15 350

22000 - Office Equipment

2,692 538 0.93% 5422,500 1,538100 - Computers, Misc.

Office Equipment5 3 1,000

23000 - Mechanical Equipment

1,126 56 0.10% 57880 496200 - Furnace

Clubhouse Lower Level20 10 440

996 50 0.09% 50880 722202 - Furnace

Clubhouse Upper Level20 5 660

9,236 770 1.32% 7757,770 3,982996 - Swamp Cooler

3 Clubhouse12 7 3,238

Sub-total [23000 - Mechanical Equipment] 11,358 876 1.51% 8829,530 5,2004,338

24000 - Furnishings

1,876 156 0.27% 1581,700 1,307100 - Office Desk, Chair

Clubhouse (50%)12 4 1,133

1,680 84 0.14% 851,485 1,218102 - Tables

3 Clubhouse Lower Level20 5 1,114

6,958 580 1.00% 5846,150 4,203110 - Chairs

123 Clubhouse12 5 3,588

2,030 169 0.29% 1701,885 1,610130 - Tables

13 Clubhouse12 3 1,414

Sub-total [24000 - Furnishings] 12,545 989 1.70% 99711,220 8,3377,248

24600 - Safety / Access

4,059 406 0.70% 4093,500 1,794520 - Card Readers Lower Lake Access Control

10 6 1,400

4,162 694 1.19% 6993,865 2,641700 - Security System

Alarms & Cameras6 3 1,933

0 0 0.00% 01,040 0701 - Security System

Alarms & Cameras (2016 Only)[nr:1]1 0 1,040

4,953 825 1.42% 8314,378 1,496720 - Security System

Park (50%)6 5 730

Sub-total [24600 - Safety / Access] 13,174 1,925 3.31% 1,93912,783 5,9305,102


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Repl. Cost

Useful

Life

Remaining

Life

Estimated

Future

Replacement

Costs

Per

Year


2017

2017 Fully

Funded

Balance

2016 Fully

Funded

Balance

Line Item

Contribution

based on

Cash Flow Method



First Draft


25000 - Flooring

10,318 688 1.18% 6938,680 5,338200 - Miscellaneous

217 Sq. Yds. Clubhouse Upper Level15 7 4,629

359 36 0.06% 36350 359210 - Carpeting

10 Sq. Yds. Clubhouse Office Lower Level10 1 315

2,132 178 0.31% 1792,080 2,132600 - Vinyl 52 Sq. Yds. Clubhouse Lower Level

12 1 1,907

399 57 0.10% 57380 334604 - Vinyl

19 Sq. Yds. Clubhouse Upper Level Restrooms (50%)7 2 271

Sub-total [25000 - Flooring] 13,208 958 1.65% 96511,490 8,1637,122

26000 - Outdoor Equipment

5,943 330 0.57% 3335,000 3,417100 - Tot Lot: Play Equipment

Upper Lake18 7 3,056

5,943 396 0.68% 3995,000 3,075102 - Tot Lot: Play Equipment


1,260 63 0.11% 631,170 1,079200 - Pedestal Grill BBQ

3 Lower & Upper Lakes20 3 995

882 44 0.08% 44780 640202 - Pedestal Grill BBQ 2 Lower & Upper Lakes

20 5 585

420 84 0.14% 85400 328210 - Barbecue

Lower Lake Near Clubhouse5 2 240

1,618 231 0.40% 2331,430 628300 - Picnic Table: Wood

5 Lower & Upper Lakes (40%)7 5 409

6,378 532 0.91% 5355,500 3,289310 - Wood Benches 11 Lower Lake

12 6 2,750

968 65 0.11% 65775 371480 - Drinking Fountain

Clubhouse15 9 310

Sub-total [26000 - Outdoor Equipment] 23,414 1,745 3.00% 1,75720,055 12,82611,010


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Repl. Cost

Useful

Life

Remaining

Life

Estimated

Future

Replacement

Costs

Per

Year


2017

2017 Fully

Funded

Balance

2016 Fully

Funded

Balance

Line Item

Contribution

based on

Cash Flow Method



First Draft


27000 - Appliances

1,214 101 0.17% 1021,100 846200 - Refrigerator


883 74 0.13% 74800 615204 - Refrigerator


971 81 0.14% 82880 677208 - Refrigerator Clubhouse Upper Level

12 4 587

1,681 140 0.24% 1411,600 1,503276 - Oven: Wall


538 45 0.08% 45500 427280 - Cook Top Stove

Clubhouse Upper Level12 3 375

622 52 0.09% 52550 376284 - Cook Top Stove


893 89 0.15% 90850 784300 - Dishwasher


Sub-total [27000 - Appliances] 6,803 582 1.00% 5866,280 5,2284,562

30000 - Miscellaneous

806 34 0.06% 34695 564442 - Miscellaneous Horse- Harley

24 6 521

1,560 65 0.11% 651,280 929446 - Miscellaneous

Horse- Cowgirl24 8 853

738 369 0.63% 372720 738700 - Tools

Barn Maintenance Shop (20%)2 1 360

20,592 1,373 2.36% 1,38318,200 13,680810 - Tractor 1983 Case 480 LL

15 5 12,133

28,057 1,870 3.21% 1,88420,862 5,702812 - Tractor

Kubota Tractor15 12 4,172

6,786 679 1.17% 6836,620 6,786830 - Vehicle

2002 Ford Ranger10 1 5,958

Sub-total [30000 - Miscellaneous] 58,538 4,389 7.54% 4,42148,377 28,39923,998

32000 - Undesignated

1,128 564 0.97% 5681,100 1,128100 - Miscellaneous

Reserve Items1 1 550

Totals 735,844 58,183 313,304 100.00% 58,605618,270

[A] [B]

13.03%Percent Funded

[EndBal]

[B]

288,182

13.01%

[EndBal]

[A]


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Section VI

Component Listing Included ComponentsFirst Draft


Paving01000 -

100 - Asphalt: Sealing

12,195 Sq. Ft. Clubhouse Parking 12,195 Square Feet

$0.200

5

Quantity Unit of Measure

% Included

Useful Life Remaining Life

100.00% $2,439Total Cost/Study

Cost /SqFt

1

Replacement Year 2017 $2,500Future CostSummary

This is to prepare the surface and apply a single coat asphalt emulsion product. If a second coat is desired the cost is generally 10% to 20% higher.

In 2016, the paving has a dried out appearance and needs sealing.

2012- Per client, seal coat may be applied utilizing in-house labor.


2,596 Sq. Ft. Gym Building Parking 2,596 Square Feet

$0.200

5


% Included


100.00% $519Total Cost/Study

Cost /SqFt

1

Replacement Year 2017 $532Future CostSummary


In 2016, the paving has a dried out appearance and needs sealing.

2012- Per client, seal coat may be applied utilizing in-house labor.


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Component Listing Included Components

First Draft


Paving01000 -


5,031 Sq. Ft. Basketball Ct & Tennis Parking

5,031 Square Feet

$0.200

5


% Included



Cost /SqFt

1



2012- Per client, seal coat is applied utilizing in-house labor.2009- Overlaid, the paving should be sealed as soon as is practical.

200 - Asphalt: Ongoing Repairs

12,195 Sq. Ft. Clubhouse Parking (2%) 12,195 Square Feet

$3.25 $39,634

5


% Included



Cost /SqFt Qty * $/SqFt

1


This is for miscellaneous repairs including crackfill, skin patching and minor dig out & fill. Cracks 1/4" or wider should be filled when observed.


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Paving01000 -


2,596 Sq. Ft. Gym Building Parking (2%) 2,596 Square Feet

$3.25 $8,437

5


% Included




1




5,031 Sq. Ft. Basketball Ct & Tennis Parking (2%)

5,031 Square Feet

$3.25 $16,351

5


% Included




1




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Paving01000 -

300 - Asphalt: Overlay w/ Interlayer

12,195 Sq. Ft. Clubhouse Parking 12,195 Square Feet

$1.75

25


% Included



Cost /SqFt

17


This is to apply a geotextile interlayer to the existing asphalt surface and overlay with a minimum of 1.5" of new hot mix asphalt. Generally this includes edge grinding and utility box extensions.

2009- $30,050 total was expended for the paving overlay and repair project.


2,596 Sq. Ft. Gym Building Parking 2,596 Square Feet

$1.77

25


% Included



Cost /SqFt

17





Road to Upper Lake 1 Lump Sum

$14,000

25


% Included



Cost /LS

22



2016- $13,979 was expended to overlay and seal in 2013 per client. Added as a component of the reserve study.


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First Draft


Paving01000 -


5,031 Sq. Ft. Basketball Ct & Tennis Parking

5,031 Square Feet

$1.77

25


% Included



Cost /SqFt

17




820 - Striping

All Parking Areas 1 Lump Sum

$1,005

5


% Included



Cost /LS

1


This is to restripe the clubhouse, fitness building, basketball court and tennis court parking areas to match existing plan.


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Concrete02000 -

220 - Walkways

1,250 Sq. Ft. Clubhouse (3%) 1,250 Square Feet

$16.00 $20,000

5


% Included




0


This is to repair, replace or grind failed concrete flatwork to remove abrupt elevation changes and maintain functionality. Since the concrete useful life exceeds the scope of this study, this component provides for repair only and not full replacement.

In 2016, abrupt surface elevation shifts were observed on the walk leading from the parking lot to the clubhouse.

2016- $600 is anticipated for clubhouse walkway. 2008- $13,291 expended for improvements.

300 - Driveways

6,835 Sq. Ft. Barn Entrance Drive (3%) 6,835 Square Feet

$24.38 $166,667

15


% Included




0


This is to enclose the existing driveway with a wood border and cover the concrete with decomposed granite.

2016- $5,000 anticipated expenditure to complete the driveway rehab per client.


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132 - Surface Restoration

4,466 Sq. Ft. Barn 4,466 Square Feet

$0.900

5


% Included



Cost /SqFt

2


This is to prepare, power wash, sand, scrape, caulk and paint with a 100% premium acrylic paint.

2009- $2,767 was expended.


Clubhouse Railings 1 Lump Sum

$3,501

5


% Included



Cost /LS

4



2016- $3,501 was expended to paint railings from reserves in 2015. Per client 5/5/2016 phone conversation, fund this painting from reserves. This component had been previously excluded from reserves.


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First Draft



454 - Wood Fencing

82 Lin. Ft. Corral Perimeter 82 Linear Feet

$6.00

5


% Included



Cost /l.f.

1


This is to prepare and paint the wood fencing.

In 2016, this fencing exhibits raw exposed wood and needs paint maintenance.


104 - Building

5,079 Sq. Ft. Clubhouse 5,079 Square Feet

$1.40

10


% Included



Cost /SqFt

4


This is to prepare and paint all interior spaces including restrooms. Some surfaces are stain and others are paint. Minor touchup should be performed on an ongoing basis. Touchup is from operating funds.



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200 - Wood: Siding & Trim

2,148 Sq. Ft. Fitness Building 2,148 Square Feet

$8.00

40


% Included



Cost /SqFt

35


This is to replace siding and wood trim. The actual scope of the work will depend on what is found after the existing siding is removed. Includes primer and paint on all new wood surfaces.

2016- Replacement scope revised from 10% per 10 years to 100% per 40 years.



$9.00

40


% Included



Cost /SqFt

15


This is to replace siding and wood trim. If properly sealed from moisture and pest intrusion, siding may last the life of the building. The actual scope of the work will depend on what is found after the existing siding is removed.

In 2016, some siding and trim are in poor condition exhibiting splitting and checking which is indicative of inadequate paint maintenance.

2016- Replacement scope revised from 5% per 10 years to 100% per 40 years.2008- $3,144 expended for clubhouse (lower).

Picture shows where the roofer's nails, referred to as shiners, have penetrated thru the overhang sheathing causing damage.


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First Draft




4,466 Sq. Ft. Barn (5%) 4,466 Square Feet

$8.00 $35,728

10


% Included




12


This is to replace siding and wood trim. If properly sealed from moisture and pest intrusion, siding may last the life of the building. The actual scope of the work will depend on what is found after the existing siding is removed.


550 - Bridge Maintenance

Upper Lake Spillway 1 Lump Sum

$1,270

5


% Included



Cost /LS

4


This is for general maintenance of the Upper lake spillway metal frame bridge including paint and minor repair. This component provides for wood deck and railing repair in conjunction with painting. Since the core bridge structure useful life exceeds the scope of this thirty year study, this component is for minor maintenance only and not full replacement.

In 2016, the railing appears to have been recently replaced. No cost provided to BRG.

Wood deck 32'x3'Wood railings 93 linear feet

2010- Repairs were completed.


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826 - Floating Dock

Lower Lake 1 Lump Sum

$16,280

20


% Included



Cost /LS

12


This is to replace the Lower lake dock with a 20' T shape floating dock.

2013- $6,500 was expended. 2008- $5,500 was expended.

960 - Awnings

Barn Shade Shelters 1 Lump Sum

$5,465

15


% Included



Cost /LS

8


This is for the horse sun shelter structures.

2016- $1,754 was expended to build two shade shelters. 2011- Added as a reserve study component.2009- $4,640 was expended to place in service.

961 - Awnings

2 Barn Shade Shelters (2016 Only) 2 Items

$877

1


% Included


100.00%

Treatment [nr:1]

$1,754Total Cost/Study

Cost /Itm

0


This is for the $1,754 expended to build two shade shelters.

996 - Miscellaneous

Barn PVC Pipe 1 Lump Sum

$3,920

20


% Included



Cost /LS

13


This is for the barn waterers freeze-proof flex pipe.

2011- Added as a reserve study component.2009- $3,285 was expended to replace the PVC pipe.


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First Draft




100 - Wood

364 Sq. Ft. Clubhouse Upper Level 364 Square Feet

$50.00

20


% Included



Cost /SqFt

6


This is to perform major repairs and replace the clubhouse upper level wood deck. Aggressive wood sealing may extend this component's life.

320 - Railing: Wood

181 Lin. Ft. Clubhouse 181 Linear Feet

$32.00

25


% Included



Cost /l.f.

15


This is to repair and replace the wood railing.

Clubhouse upper level- 82 linear feetLower deck- 38 linear feetWalkway to upper clubhouse- 61 linear feet

2009- Clubhouse walkway to upper clubhouse placed in service. 2006- Clubhouse lower deck railing placed in service.


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First Draft


Roofing05000 -

400 - Pitched: Dimensional Composition

36 Squares- Clubhouse 36 Squares

$350

25


% Included



Cost /Sqrs

21


This is to reroof with a dimensional composition roofing product. Composition roofs should be regularly inspected and repaired as indicated to ensure maximum life.

2016- $11,138 was expended in 2012 to replace per client 4/5/2016.2012- Roofing is to be replaced.


Gym Bldg Pump House 1 Squares

$750

25


% Included



Cost /Sqrs

5


This is to reroof the 8' x 10' structure with a dimensional composition roofing product. Composition roofs should be regularly inspected and repaired as indicated to ensure maximum life.


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First Draft


Roofing05000 -


99 Squares- Barn 99 Squares

$325

25


% Included



Cost /Sqrs

21


This is to reroof with a dimensional composition roofing product. Composition roofs should be regularly inspected and repaired as indicated to ensure maximum life.

2016- $30,304 was expended in 2012 to reroof per client 4/5/2016.


11 Squares- Gym Building 11 Squares

$500

25


% Included



Cost /Sqrs

23


This is to reroof the 25' x 38' building with a dimensional composition roofing product. Composition roofs should be regularly inspected and repaired as indicated to ensure maximum life.

2016- $9,143 was expended in 2014 per client 4/5/2016. Replacement estimate reduced from $9,143 to $5,500 to compensate for extra sheathing replacement that should not be required for the next reroof. No work scope was provided by client.


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First Draft


Roofing05000 -

700 - Gutters / Downspouts

220 Lin. Ft. Clubhouse 220 Linear Feet

$8.00

30


% Included



Cost /l.f.

26


This is to replace the clubhouse gutters and downspouts in conjunction with reroofing.

2016- $1,269 was expended to replace the gutters and downspouts during the 2012 reroof per client 4/5/2016.


282 Lin. Ft. Barn 282 Linear Feet

$9.40

25


% Included



Cost /l.f.

21


This is to replace the gutters and downspouts.

2016- $2,535 was expended to replace gutters and downspouts during the 2012 reroof per client 4/5/2016.2010- $1,328 expended for gutters on east side of barn.


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First Draft


Roofing05000 -


54 Lin. Ft. Gym Building 54 Linear Feet

$8.90

30


% Included



Cost /l.f.

26


This is to replace the gutters and downspouts. Cost estimate includes a premium due to small job size.

2016- $454 was expended to replace gutters and downspouts during the 2012 reroof per client 4/5/2016.2008- The roofing system was originally scheduled for replacement and continues to be deferred.

Rehab08000 -

100 - General

Barn 1 Lump Sum

$3,900

15


% Included



Cost /LS

10


This is for a general barn interior rehab including wood partitions, cabinets, countertops, staining, etc. Association input will further define this component.

2016- $3,500 was expended for barn doors in 2013 per client 4/5/2016.2012- Per client, the majority of work is expected to take place in the workshop.


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First Draft


Rehab08000 -

226 - Restrooms

Clubhouse Upper Level 1 Lump Sum

$3,320

20


% Included



Cost /LS

2


This is for rehab, cosmetic in nature, including partition wood repairs, décor, small cabinet repairs, etc. Extensive repairs may require new accessibility features per local building code. Association input will further define this component.

230 - Kitchen

Clubhouse Lower Level 1 Room

$5,190

20


% Included



Cost /Rm

11


This is to rehab the clubhouse lower kitchen including 17 linear feet of used oak cabinets, counter tops, décor, etc. Association input will further define this component.



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First Draft


Rehab08000 -

236 - Kitchen

Clubhouse Upper Level 1 Room

$7,725

20


% Included



Cost /Rm

12


This is to rehab the clubhouse upper kitchen including 27 linear feet of used cabinets, cabinet re-facing, Formica counter tops, appliance installation, etc. Association input will further define this component.

2008- $35,768 expended for extensive rehab.

240 - Clubhouse

Lower Floor Decorating 1 Lump Sum

$10,045

20


% Included



Cost /LS

2


This is for general clubhouse interior rehab including wall coverings, lighting, fans, décor, etc. Association input will further define this component.


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First Draft


Rehab08000 -

242 - Clubhouse

Upper Floor Decorating 1 Lump Sum

$3,863

15


% Included



Cost /LS

7


This is for general clubhouse interior rehab including wall coverings, lighting, fans, décor, etc. Association input will further define this component.

2008- $35,768 expended for rehab.

246 - Restrooms

Clubhouse Lower Level 1 Lump Sum

$3,500

20


% Included



Cost /LS

13


This is to rehab and redecorate the restroom including items such as, fixtures, lighting, flooring, etc. Association input will further define this component.

2009- $7,431 expended for the clubhouse restroom addition.


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First Draft


Rehab08000 -

248 - Restrooms

2 Clubhouse Upper Level (50%) 2 Room

$3,795 $7,590

20


% Included



Cost /Rm Qty * $/Rm

2


This is to rehab and redecorate the restroom including items such as, fixtures, lighting, flooring, etc. Association input will further define this component.

In 2016, the men's room flooring has been replaced and the room rehabbed. The women's room remains not rehabbed.


250 - General

Office 1 Lump Sum

$4,030

20


% Included



Cost /LS

11


This is for a general interior rehab. Association input will further define this component.

In 2016, the floor entering the restroom feels in need of structural modification.



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First Draft



780 - Pedestrian Gate

Lower Lake Access 1 Lump Sum

$6,650

30


% Included



Cost /LS

20


This is to replace the lower lake pedestrian gate that controls access from the clubhouse to the lake. Minor gate hardware repairs are from operating. Proximity card reader replacement is provided for within another component.

Recreation14000 -

290 - Exercise: Miscellaneous Equip.

Gym Building (50%) 1 Lump Sum

$5,520 $5,520

8


% Included



Cost /LS Qty * $/LS

4


This is to replace miscellaneous exercise equipment of which some is donated.

2016- $1,856 was expended in 2015 per client.


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Recreation14000 -

900 - Miscellaneous

Barn Horse Tack (20%) 1 Lump Sum

$5,500 $5,500

5


% Included



Cost /LS Qty * $/LS

3


This is to periodically replace assorted horse tack on a percentage basis.

5- adult saddles2- juvenile saddles8- bridles & bits30- mats

2011- Per client, set replacement at 20% of $4,875 every 5 years beginning in 2013.2010- $400 was expended.2009- $500 was expended.

Tennis Court17000 -

100 - Reseal

5,000 Sq. Ft. Tennis Court 5,000 Square Feet

$0.800

7


% Included



Cost /SqFt

7


This is to reseal and restripe the 100' x 50' tennis court surface. Resurfacing is provided for within another components.

2016- $14,000 is anticipated to seal, stripe and resurface the basketball and tennis courts.


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Tennis Court17000 -

500 - Resurface

5,000 Sq. Ft. Tennis Court 5,000 Square Feet

$2.00

21


% Included



Cost /SqFt

21


This is to resurface the 100' x 50' tennis court surface utilizing a fabric interlayer overlay, color coat and striping. Seal coating and restriping are provided for within other components.


550 - Fixtures

Tennis Court Net 1 Items

$532

5


% Included



Cost /Itm

0


This is to replace the net and maintain the net posts.

2016- $532 is anticipated.


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200 - Seal & Striping

3,510 Sq. Ft. Basketball Court 3,510 Square Feet

$0.600

7


% Included



Cost /SqFt

7


This is to crack seal, seal and restripe the 45' x 78' court.


400 - Overlay

3,510 Sq. Ft. Basketball Court 3,510 Square Feet

$2.00

20


% Included



Cost /SqFt

20


This is to overlay the surface with new hot asphalt.

2016- $14,000 is anticipated to seal, stripe and resurface the basketball and tennis courts. A work scope was not provided by client.


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900 - Basketball Standard

Basketball Court 1 Lump Sum

$500

5


% Included



Cost /LS

0


This is to maintain the basketball hoops, nets and boards. Court surface and small backstop fencing are provided for within other components.

904 - Miscellaneous

Court Surfaces (2016 Only) 1 Lump Sum

$14,000

20


% Included


100.00%

Treatment [nr:1]


Cost /LS

0


This is to seal, stripe and resurface the courts.

Landscaping18000 -

340 - Irrigation: Pumps

Pump House (50%) 1 Lump Sum

$6,300 $6,300

5


% Included



Cost /LS Qty * $/LS

1


This is to repair, replace and maintain the park irrigation system. Since not all equipment will fail simultaneously, this component provides for one half replacement every five years.

2- pump-motors2- AMTROL, Well-X-Trol pre-pressurized pump tanksAssociated- pipes, fittings, controls, etc.


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330 - Aeration Heads / Diffusers

Lower Lake 1 Lump Sum

$4,190

10


% Included



Cost /LS

7


This is to repair, replace and maintain the lower lake environmental aeration/destratification system. Diffuser and air stone cleaning should be performed in accordance with vendor recommendations.

1- Leeson 3 h.p. pump2- Aeration heads

2014- $934 was expended for a pump. 2011- The pump was rebuilt.2006- $3,354 was expended.

334 - Aeration Heads / Diffusers

Third Aerator 1 Items

$1,290

10


% Included



Cost /Itm

3


This is to repair, replace and maintain the lake's third aerator.


620 - Pump / Motor

Lower Lake Drain 1 Items

$880

5


% Included



Cost /Itm

3


This is to repair, replace and maintain the lower lake 3/4 h.p. motor.

2009- $737 expended for lake motor replacement. 2006- $1,975 was expended.


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911 - Miscellaneous

Lower Lake Weir Gate Valve 1 Lump Sum

$25,168

35


% Included



Cost /LS

31


This is to replace the weir gate valve.

2016- $25,168 was expended in 2012 to replace the valve per client at the site visit meeting.

914 - Miscellaneous

Lower & Upper Lake Maintenance 1 Lump Sum

$30,000

2


% Included



Cost /LS

1


This is to reclaim the beach sand, maintain the weir, clear the lower lake inlet and remove tulles.

2015- $31,246 was expended. 2013- $15,000 was expended.2011- $32,000 was expended for lower lake inlet clean out.2010- $2,700 was expended for upper lake.


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First Draft



990 - Miscellaneous

Floating Dock 1 Lump Sum

$6,570

5


% Included



Cost /LS

0


This is for miscellaneous expenses.

2016- $6,569 was expended for the dock in 2013 per client.

Fencing19000 -

110 - Chain Link: 6'

80 Lin. Ft. Basketball Court Backstops (50%)

80 Linear Feet

$15.00 $1,200

35


% Included



Cost /l.f. Qty * $/l.f.

10


This is to periodically replace the basketball court backstop 6' chain link fencing on a percentage basis.

2012- Deferred per client.


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Fencing19000 -


1,730 Lin. Ft. Upper Lake Perimeter 1,730 Linear Feet

$17.00

35


% Included



Cost /l.f.

20


This is to replace the Upper lake perimeter 6' chain link fencing.

2008- $740 was expended.


1,259 Lin. Ft. Clubhouse & Lake Perimeter (15%)

1,259 Linear Feet

$19.00 $23,921

5


% Included




4


This is to periodically replace the clubhouse and lower lake perimeter 6' to 8' chain link fencing including three strand barbed wire on a percentage basis.



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Fencing19000 -


300 Lin. Ft. Tennis Courts 300 Linear Feet

$24.00

30


% Included



Cost /l.f.

15


This is to replace the tennis court 10' chain link fencing.

324 - Wood: 4'

78 Lin. Ft. Barn East Perimeter 78 Linear Feet

$23.00

18


% Included



Cost /l.f.

4


This is to replace the barn east perimeter painted 4' fencing including discarded fence material removal and disposal. Painting is provided for within another component.

2008- Partially replaced and painted.


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Fencing19000 -

340 - Wood: 6'

80 Lin. Ft. Barn East Perimeter 80 Linear Feet

$36.00

18


% Included



Cost /l.f.

10


This is to replace the barn east perimeter 6' wood fencing including discarded fence material removal and disposal. This fence is a standard 1"x6" dog ear picket on 4"x4" wood posts.

In 2012, the fence was propped up in areas.

540 - Metal

2,000 Lin. Ft. Corral Fencing (10%) 2,000 Linear Feet

$17.00 $34,000

6


% Included




5


This is for ongoing horse corral 4' metal (pipe) fencing repair and maintenance. Since the overall fence life exceeds thirty years, this component provides for periodic repairs only and not full replacement.


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Fencing19000 -

542 - Metal

835 Lin. Ft. Barn Perimeter 835 Linear Feet

$40.00

30


% Included



Cost /l.f.

5


This is to replace the barn perimeter 4' painted metal (pipe) fencing. Aggressive paint maintenance may extend this component's life. Painting is provided for within another component.

543 - Metal

Barn Perimeter (2016 Only) 1 Lump Sum

$1,754

1


% Included


100.00%

Treatment [nr:1]


Cost /LS

0


This is for the $1,754 expended. No work scope provided to BRG.


120 - Wood: 1'

40 Lin. Ft. Lower Lake 40 Linear Feet

$40.00

25


% Included



Cost /l.f.

7


This is to replace the lower lake 1' retaining wall comprised of 2" x 12" lumber.

Note the retainer wall behind the barbecue.


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Lighting20000 -

100 - Exterior: Misc. Fixtures

Barn Security Lighting 1 Lump Sum

$1,105

15


% Included



Cost /LS

9


This is to replace and upgrade the barn security lighting.


Signage21000 -

792 - Monument

Community Entrance 1 Items

$1,400

20


% Included



Cost /Itm

15


This is to repair, replace and refurbish the custom identity monument.


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100 - Computers, Misc.

Office Equipment 1 Lump Sum

$2,500

5


% Included



Cost /LS

3


This is to replace miscellaneous office equipment.

1- Computer & monitor ($2,012 in 2010)2- PrintersMiscellaneous- software, etc. ($250 Website in 2009)

2015- $1,240 was expended.2013- $1,840 was expended.


200 - Furnace

Clubhouse Lower Level 1 Items

$880

20


% Included



Cost /Itm

10


This is to replace the clubhouse lower level Dayton heater.

2006- Unit was replaced.


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202 - Furnace

Clubhouse Upper Level 1 Items

$880

20


% Included



Cost /Itm

5


This is to replace the clubhouse upper level Dayton heater.

996 - Swamp Cooler

3 Clubhouse 3 Items

$2,590

12


% Included



Cost /Itm

7


This is to repair, replace and maintain the swamp coolers. These systems include a motor, water pump and drip pans, and with ongoing maintenance, this component's life may be extended.

2012- Per client, the three swamp coolers were replaced for approximately $7,000. No replacement date was given.2007- $230 expended for pump replacement.

Furnishings24000 -

100 - Office Desk, Chair

Clubhouse (50%) 1 Lump Sum

$3,400 $3,400

12


% Included



Cost /LS Qty * $/LS

4


This is to periodically replace office furniture on a percentage basis.

1- 2-drawer file cabinets2- Desks3- Desk chairs5- 4-drawer file cabinets


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Furnishings24000 -

102 - Tables

3 Clubhouse Lower Level 3 Items

$495

20


% Included



Cost /Itm

5


This is to replace large 8'x3' wood tables.

110 - Chairs

123 Clubhouse 123 Items

$50.00

12


% Included



Cost /Itm

5


This is to replace the folding chairs.

130 - Tables

13 Clubhouse 13 Items

$145

12


% Included



Cost /Itm

3


This is to replace the folding tables.

2007- $949 was expended for eight tables.


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520 - Card Readers

Lower Lake Access Control 1 Lump Sum

$3,500

10


% Included



Cost /LS

6


This is to replace the Lower lake pedestrian gate JTA 100 PC based proximity card reader and, software, electric latch, lockset and miscellaneous reader hardware. This gate controls access from the clubhouse to the lake. Proximity card replacement is from operating.

2016- $6,647 was expended in 2012 per client 4/5/2016. This component does not consider hard wiring or components other than replaceable, compartmentalized items.

700 - Security System

Alarms & Cameras 1 Lump Sum

$3,865

6


% Included



Cost /LS

3


This is to replace various security system components including video monitors, cameras, recorders, etc.

2016- $1,040 was expended for barn security. $2,000 was expended in 2015 for cameras per client. 2012- $2,500 is the anticipated expenditure. Association provided cost and scope of work will further define this component. 2011- the association was in the process of installing surveillance systems (burglar alarms at maintenance, barn, clubhouse and fitness).


Alarms & Cameras (2016 Only) 1 Lump Sum

$1,040

1


% Included


100.00%

Treatment [nr:1]


Cost /LS

0


This is for the $1,040 expended for barn security.


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Park (50%) 1 Lump Sum

$8,755 $8,755

6


% Included



Cost /LS Qty * $/LS

5


This is to replace various security system components including video monitors, cameras, recorders, etc.

2016- $8,755 was expended in 2015 per client 4/5/2016. Added as a component of the reserve study.

Flooring25000 -

200 - Miscellaneous

217 Sq. Yds. Clubhouse Upper Level 217 Square Yard

$40.00

15


% Included



Cost /SqYd

7


This is to replace the upper level flooring. 2008- $35,768 total was expended as part of the rehab project.


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Flooring25000 -

210 - Carpeting

10 Sq. Yds. Clubhouse Office Lower Level 10 Square Yard

$35.00

10


% Included



Cost /SqYd

1


This is to replace the carpeting.

In 2016, this flooring is in poor condition.

2008- $35,768 total was expended as part of the rehab project.

600 - Vinyl

52 Sq. Yds. Clubhouse Lower Level 52 Square Yard

$40.00

12


% Included



Cost /SqYd

1


This is to replace the clubhouse lower level and shuffle game area vinyl tile flooring.


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Flooring25000 -

604 - Vinyl

19 Sq. Yds. Clubhouse Upper Level Restrooms (50%)

19 Square Yard

$40.00 $760

7


% Included



Cost /SqYd Qty * $/SqYd

2


This is to replace the vinyl flooring.


100 - Tot Lot: Play Equipment

Upper Lake 1 Items

$5,000

18


% Included



Cost /Itm

7


This is to replace the tot lot play equipment.

2008- $1,300 was expended for a new play equipment.


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102 - Tot Lot: Play Equipment

Lower Lake 1 Items

$5,000

15


% Included



Cost /Itm

7


This is to replace the tot lot play equipment.

2008- $1,300 was expended for a new play equipment.

200 - Pedestal Grill BBQ

3 Lower & Upper Lakes 3 Items

$390

20


% Included



Cost /Itm

3


This is to replace the pedestal dual grill BBQ's. Includes shipping and installation.



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202 - Pedestal Grill BBQ

2 Lower & Upper Lakes 2 Items

$390

20


% Included



Cost /Itm

5


This is to replace the pedestal single grill BBQ's. Includes shipping and installation.

210 - Barbecue

Lower Lake Near Clubhouse 1 Lump Sum

$400

5


% Included



Cost /LS

2


This is to maintain and paint the 5'x8' fixed masonry barbeque located near the clubhouse.


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300 - Picnic Table: Wood

5 Lower & Upper Lakes (40%) 5 Items

$715 $3,575

7


% Included



Cost /Itm Qty * $/Itm

5


This is to periodically replace various picnic tables on a percentage basis.

2- Upper3- Lower


310 - Wood Benches

11 Lower Lake 11 Items

$500

12


% Included



Cost /Itm

6


This is to periodically repair and maintain the Lower lake fixed wood benches located at the main beach and tennis & basketball courts.

1- 6'x12' no back3- w/ backs7- 4'x12' no backs



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480 - Drinking Fountain

Clubhouse 1 Items

$775

15


% Included



Cost /Itm

9


This is to replace the clubhouse wall mounted drinking fountain.

2010- Unit was replaced.

Appliances27000 -

200 - Refrigerator


$1,100

12


% Included



Cost /Itm

4


This is to replace the Whirlpool refrigerator.

204 - Refrigerator


$800

12


% Included



Cost /Itm

4


This is to replace the Roper refrigerator.


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Appliances27000 -

208 - Refrigerator


$880

12


% Included



Cost /Itm

4


This is to replace the Frigidaire refrigerator.

276 - Oven: Wall


$1,600

12


% Included



Cost /Itm

2


This is to replace the GE double oven.


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Appliances27000 -

280 - Cook Top Stove


$500

12


% Included



Cost /Itm

3


This is to replace the Monogram counter top stove.

284 - Cook Top Stove


$550

12


% Included



Cost /Itm

5


This is to replace the counter top stove.


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Appliances27000 -

300 - Dishwasher


$850

10


% Included



Cost /Itm

2


This is to replace the GE automatic dishwasher.


442 - Miscellaneous

Horse- Harley 1 Items

$695

24


% Included



Cost /Itm

6


This is to replace the horse.


446 - Miscellaneous

Horse- Cowgirl 1 Items

$1,280

24


% Included



Cost /Itm

8


This is to replace the horse.



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700 - Tools

Barn Maintenance Shop (20%) 1 Lump Sum

$3,600 $3,600

2


% Included



Cost /LS Qty * $/LS

1


This is to periodically replace various tools as needed.

1- Air Compressor ($1,500 in 2012) 1- Hedge Trimmer1- Weed Whacker 1- Cement Mixer1- Chain Saw Assorted Hand Tools


810 - Tractor

1983 Case 480 LL 1 Items

$18,200

15


% Included



Cost /Itm

5


This is to replace the Case 480 LL tractor.

1994- Placed in service.

812 - Tractor

Kubota Tractor 1 Items

$20,862

15


% Included



Cost /Itm

12


This is to replace the Kubota model# YTH1542XP tractor.

2016- $20,862 contract to purchase signed in March 2013. Monthly payment is $347.71 for 60 payments beginning March, 2013 and ending February, 2018. Payments are provided for within the funding plan.


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830 - Vehicle

2002 Ford Ranger 1 Items

$6,620

10


% Included



Cost /Itm

1


This is to replace the 2002 Ford Ranger with a used truck. This component assumes no residual value. Fuel, oil, insurance, registration, tires and regular maintenance are from operating.

2011- Added as a reserve study component. 2010- Placed in service.2010- $4,336 was expended.

Undesignated32000 -

100 - Miscellaneous

Reserve Items 1 Lump Sum

$1,100

1


% Included



Cost /LS

1


This is for unanticipated reserve component repairs.

2010- $81 expended for fence repair and $177 for toilet replacement.2008- $550 expended for wiring update for clubhouse (extra circuits).


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Section VI-b

Component Listing Excluded ComponentsFirst Draft




2,148 Sq. Ft. Fitness Building 2,148 Square Feet

$1.20

5


% Included



Cost /SqFt

1

Replacement Year N/A N/AFuture CostSummary


2012- Per client, this painting is performed with in house labor and funded from operating, so exclude this component from reserves.



$1.10

5


% Included



Cost /SqFt

1


This is to prepare, power wash, sand, scrape, caulk and paint with a 100% premium acrylic paint. Siding repairs typically performed in conjunction with the painting cycle are provided for within another component.

In 2016, although funded from operating, the clubhouse is in great need of exterior painting.


150 - Stain

364 Sq. Ft. Clubhouse Upper Level Deck 364 Square Feet

$1.66

5


% Included



Cost /SqFt

1


This is to prepare, power wash, sand, scrape, caulk and paint with a premium full body stain.


152 - Stain

172 Sq. Ft. Clubhouse Lower Deck 172 Square Feet

$1.66

5


% Included



Cost /SqFt

1


This is to prepare, power wash, sand, scrape, caulk and paint with a premium full body stain.



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Component Listing Excluded Components

First Draft



406 - Railings

835 Lin. Ft. Barn Perimeter Fencing 835 Linear Feet

$9.00

5


% Included



Cost /l.f.

0


This is to prepare and paint the barn perimeter 4' metal fencing.

2012- Per client during reserve site visit meeting, this painting is performed with in house labor and funded from operating, so exclude this component from reserves.2011- $7,086 was expended.2007- $700 was expended.


100 - Building

1,987 Sq. Ft. Gym Building 1,987 Square Feet

$1.10

8


% Included



Cost /SqFt

3


This is to prepare and paint the building interior spaces including floors, walls and ceilings.


102 - Building

Barn 1 Lump Sum

$760

2


% Included



Cost /LS

1


This is to prepare and paint as needed.

2- Restrooms2- Rooms15- StallsBeams, etc.

2012- Per client, this painting is performed with in house labor and funded from operating, so exclude this component from reserves.2007- $378 was expended.

Fencing19000 -

990 - Post & Cable

Park Perimeter 1 Lump Sum

$1,131

5


% Included



Cost /LS

2


This is for ongoing park perimeter post and cable fence maintenance and painting. This fence is comprised of 26 wood posts, 57 painted metal posts and 418 linear feet of cable. Wood post replacement is provided for within another component.

2012- This component was excluded from the study per client direction. It is anticipated that the post and cable will be replaced with rocks.2011- Per client direction, this component is returned to the study.2009- $152 expended for wooden post repair.2008- This component was excluded from the study per client direction.


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Fencing19000 -

994 - Post & Cable

26 Park Perimeter Posts (33%) 26 Items

$126 $3,272

5


% Included


33.33%

Treatment [nr:3]


Cost /Itm Qty * $/Itm

2


This is to replace the park perimeter post and cable fence's wood posts with metal posts. This fence is comprised of 26 wood posts, 57 painted metal posts and 418 linear feet of cable. The wood posts appear to be replaced in an ongoing fashion as opposed to full one-time complete replacement.

2012- This item was excluded from the study per client direction.2011- Per client direction, this component is returned to the study.2008- This item was excluded from the study per client direction.


124 - Wood: 4'

69 Lin. Ft. Lower Lake Bulkhead 69 Linear Feet

$226

25


% Included



Cost /l.f.

3


This is to replace the Lower lake 4' bulkhead wall comprised of 2"x12" lumber. Walls over 3' in height require engineering. This bulkhead wall is failing and should be inspected and replaced soon. The association should solicit replacement bids to further define this component.

2008- Per client, exclude this component.


600 - Water Heater

Barn 40 US Gallon 1 Items

$993

15


% Included



Cost /Itm

2


This is to replace the 40 gallon water heater.


602 - Water Heater

Clubhouse 1 Items

$773

12


% Included



Cost /Itm

2


This is to replace the clubhouse water heater.



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Audio / Visual24500 -

300 - PA System

Clubhouse 1 Lump Sum

$629

10


% Included



Cost /LS

2


This is to replace the public address system including mics, stands and miscellaneous equipment. Replacement was previously scheduled for 2007.

2008- Per client 12/2018, exclude this component.


880 - Boat

2 Lower LakeLower LakeLower Lake

2 Items

$883

5


% Included



Cost /Itm

1


This is to replace the paddle boats.

2008- Per client, exclude this component from reserves.


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Section VII

Component Tabular Listing First Draft


Included Components

Current

Replacement Cost

Useful

Life

Remaining

Life Quantity

Cost/

U of MComponent LocationTreatment

Paving01000 -

100 - Asphalt: Sealing 12,195 $.20/SqFt5$2,439 1 Clubhouse Parking

110 - Asphalt: Sealing 2,596 $.20/SqFt5$519 1 Gym Building Parking

120 - Asphalt: Sealing 5,031 $.20/SqFt5$1,006 1 Basketball Ct & Tennis Parking

200 - Asphalt: Ongoing Repairs 12,195 $3.25/SqFt5$793 1 (2%) Clubhouse Parking

210 - Asphalt: Ongoing Repairs 2,596 $3.25/SqFt5$169 1 (2%) Gym Building Parking

220 - Asphalt: Ongoing Repairs 5,031 $3.25/SqFt5$327 1 (2%) Basketball Ct & Tennis Parking

300 - Asphalt: Overlay w/ Interlayer 12,195 $1.75/SqFt25$21,341 17 Clubhouse Parking

310 - Asphalt: Overlay w/ Interlayer 2,596 $1.77/SqFt25$4,585 17 Gym Building Parking

320 - Asphalt: Overlay w/ Interlayer 1 $14,000/LS25$14,000 22 Road to Upper Lake

340 - Asphalt: Overlay w/ Interlayer 5,031 $1.77/SqFt25$8,885 17 Basketball Ct & Tennis Parking

820 - Striping 1 $1,005/LS5$1,005 1 All Parking Areas

Concrete02000 -

220 - Walkways 1,250 $16.00/SqFt5$600 0 (3%) Clubhouse

300 - Driveways 6,835 $24.38/SqFt15$5,000 0 (3%) Barn Entrance Drive


132 - Surface Restoration 4,466 $.90/SqFt5$4,019 2 Barn

136 - Surface Restoration 1 $3,501/LS5$3,501 4 Clubhouse Railings

454 - Wood Fencing 82 $6.00/l.f.5$492 1 Corral Perimeter


104 - Building 5,079 $1.40/SqFt10$7,111 4 Clubhouse


200 - Wood: Siding & Trim 2,148 $8.00/SqFt40$17,184 35 Fitness Building

210 - Wood: Siding & Trim 4,240 $9.00/SqFt40$38,160 15 Clubhouse

232 - Wood: Siding & Trim 4,466 $8.00/SqFt10$1,786 12 (5%) Barn

550 - Bridge Maintenance 1 $1,270/LS5$1,270 4 Upper Lake Spillway

826 - Floating Dock 1 $16,280/LS20$16,280 12 Lower Lake

960 - Awnings 1 $5,465/LS15$5,465 8 Barn Shade Shelters

961 - Awnings 2 $877/Itm1$1,754 0 [nr:1] Barn Shade Shelters (2016 Only)


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Current

Replacement Cost

Useful

Life

Remaining

Life Quantity

Cost/



Component Tabular Listing

First Draft


Included Components


996 - Miscellaneous 1 $3,920/LS20$3,920 13 Barn PVC Pipe


100 - Wood 364 $50.00/SqFt20$18,200 6 Clubhouse Upper Level

320 - Railing: Wood 181 $32.00/l.f.25$5,792 15 Clubhouse

Roofing05000 -


36 $350/Sqrs25$12,600 21 Clubhouse


1 $750/Sqrs25$750 5 Gym Bldg Pump House


99 $325/Sqrs25$32,175 21 Barn


11 $500/Sqrs25$5,500 23 Gym Building

700 - Gutters / Downspouts 220 $8.00/l.f.30$1,760 26 Clubhouse

712 - Gutters / Downspouts 282 $9.40/l.f.25$2,651 21 Barn

720 - Gutters / Downspouts 54 $8.90/l.f.30$481 26 Gym Building

Rehab08000 -

100 - General 1 $3,900/LS15$3,900 10 Barn

226 - Restrooms 1 $3,320/LS20$3,320 2 Clubhouse Upper Level

230 - Kitchen 1 $5,190/Rm20$5,190 11 Clubhouse Lower Level

236 - Kitchen 1 $7,725/Rm20$7,725 12 Clubhouse Upper Level

240 - Clubhouse 1 $10,045/LS20$10,045 2 Lower Floor Decorating

242 - Clubhouse 1 $3,863/LS15$3,863 7 Upper Floor Decorating

246 - Restrooms 1 $3,500/LS20$3,500 13 Clubhouse Lower Level

248 - Restrooms 2 $3,795/Rm20$3,795 2 (50%) Clubhouse Upper Level

250 - General 1 $4,030/LS20$4,030 11 Office


780 - Pedestrian Gate 1 $6,650/LS30$6,650 20 Lower Lake Access

Recreation14000 -

290 - Exercise: Miscellaneous Equip. 1 $5,520/LS8$2,760 4 (50%) Gym Building

900 - Miscellaneous 1 $5,500/LS5$1,100 3 (20%) Barn Horse Tack

Tennis Court17000 -

100 - Reseal 5,000 $.80/SqFt7$4,000 7 Tennis Court

500 - Resurface 5,000 $2.00/SqFt21$10,000 21 Tennis Court

550 - Fixtures 1 $532/Itm5$532 0 Tennis Court Net


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Current

Replacement Cost

Useful

Life

Remaining

Life Quantity

Cost/




First Draft


Included Components


200 - Seal & Striping 3,510 $.60/SqFt7$2,106 7 Basketball Court

400 - Overlay 3,510 $2.00/SqFt20$7,020 20 Basketball Court

900 - Basketball Standard 1 $500/LS5$500 0 Basketball Court

904 - Miscellaneous 1 $14,000/LS20$14,000 0 [nr:1] Court Surfaces (2016 Only)

Landscaping18000 -

340 - Irrigation: Pumps 1 $6,300/LS5$3,150 1 (50%) Pump House


330 - Aeration Heads / Diffusers 1 $4,190/LS10$4,190 7 Lower Lake

334 - Aeration Heads / Diffusers 1 $1,290/Itm10$1,290 3 Third Aerator

620 - Pump / Motor 1 $880/Itm5$880 3 Lower Lake Drain

911 - Miscellaneous 1 $25,168/LS35$25,168 31 Lower Lake Weir Gate Valve

914 - Miscellaneous 1 $30,000/LS2$30,000 1 Lower & Upper Lake Maintenance

990 - Miscellaneous 1 $6,570/LS5$6,570 0 Floating Dock

Fencing19000 -

110 - Chain Link: 6' 80 $15.00/l.f.35$600 10 (50%) Basketball Court Backstops

112 - Chain Link: 6' 1,730 $17.00/l.f.35$29,410 20 Upper Lake Perimeter

120 - Chain Link: 8' 1,259 $19.00/l.f.5$3,588 4 (15%) Clubhouse & Lake Perimeter

130 - Chain Link: 10' 300 $24.00/l.f.30$7,200 15 Tennis Courts

324 - Wood: 4' 78 $23.00/l.f.18$1,794 4 Barn East Perimeter

340 - Wood: 6' 80 $36.00/l.f.18$2,880 10 Barn East Perimeter

540 - Metal 2,000 $17.00/l.f.6$3,400 5 (10%) Corral Fencing

542 - Metal 835 $40.00/l.f.30$33,400 5 Barn Perimeter

543 - Metal 1 $1,754/LS1$1,754 0 [nr:1] Barn Perimeter (2016 Only)


120 - Wood: 1' 40 $40.00/l.f.25$1,600 7 Lower Lake

Lighting20000 -

100 - Exterior: Misc. Fixtures 1 $1,105/LS15$1,105 9 Barn Security Lighting

Signage21000 -

792 - Monument 1 $1,400/Itm20$1,400 15 Community Entrance


100 - Computers, Misc. 1 $2,500/LS5$2,500 3 Office Equipment


200 - Furnace 1 $880/Itm20$880 10 Clubhouse Lower Level


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Current

Replacement Cost

Useful

Life

Remaining

Life Quantity

Cost/




First Draft


Included Components


202 - Furnace 1 $880/Itm20$880 5 Clubhouse Upper Level

996 - Swamp Cooler 3 $2,590/Itm12$7,770 7 Clubhouse

Furnishings24000 -

100 - Office Desk, Chair 1 $3,400/LS12$1,700 4 (50%) Clubhouse

102 - Tables 3 $495/Itm20$1,485 5 Clubhouse Lower Level

110 - Chairs 123 $50.00/Itm12$6,150 5 Clubhouse

130 - Tables 13 $145/Itm12$1,885 3 Clubhouse


520 - Card Readers 1 $3,500/LS10$3,500 6 Lower Lake Access Control

700 - Security System 1 $3,865/LS6$3,865 3 Alarms & Cameras

701 - Security System 1 $1,040/LS1$1,040 0 [nr:1] Alarms & Cameras (2016 Only)

720 - Security System 1 $8,755/LS6$4,378 5 (50%) Park

Flooring25000 -

200 - Miscellaneous 217 $40.00/SqYd15$8,680 7 Clubhouse Upper Level

210 - Carpeting 10 $35.00/SqYd10$350 1 Clubhouse Office Lower Level

600 - Vinyl 52 $40.00/SqYd12$2,080 1 Clubhouse Lower Level

604 - Vinyl 19 $40.00/SqYd7$380 2 (50%) Clubhouse Upper Level Restrooms


100 - Tot Lot: Play Equipment 1 $5,000/Itm18$5,000 7 Upper Lake

102 - Tot Lot: Play Equipment 1 $5,000/Itm15$5,000 7 Lower Lake

200 - Pedestal Grill BBQ 3 $390/Itm20$1,170 3 Lower & Upper Lakes

202 - Pedestal Grill BBQ 2 $390/Itm20$780 5 Lower & Upper Lakes

210 - Barbecue 1 $400/LS5$400 2 Lower Lake Near Clubhouse

300 - Picnic Table: Wood 5 $715/Itm7$1,430 5 (40%) Lower & Upper Lakes

310 - Wood Benches 11 $500/Itm12$5,500 6 Lower Lake

480 - Drinking Fountain 1 $775/Itm15$775 9 Clubhouse

Appliances27000 -

200 - Refrigerator 1 $1,100/Itm12$1,100 4 Clubhouse Lower Level

204 - Refrigerator 1 $800/Itm12$800 4 Clubhouse Lower Level

208 - Refrigerator 1 $880/Itm12$880 4 Clubhouse Upper Level

276 - Oven: Wall 1 $1,600/Itm12$1,600 2 Clubhouse Lower Level

280 - Cook Top Stove 1 $500/Itm12$500 3 Clubhouse Upper Level

284 - Cook Top Stove 1 $550/Itm12$550 5 Clubhouse Lower Level

300 - Dishwasher 1 $850/Itm10$850 2 Clubhouse Lower Level


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Replacement Cost

Useful

Life

Remaining

Life Quantity

Cost/




First Draft


Included Components


442 - Miscellaneous 1 $695/Itm24$695 6 Horse- Harley

446 - Miscellaneous 1 $1,280/Itm24$1,280 8 Horse- Cowgirl

700 - Tools 1 $3,600/LS2$720 1 (20%) Barn Maintenance Shop

810 - Tractor 1 $18,200/Itm15$18,200 5 1983 Case 480 LL

812 - Tractor 1 $20,862/Itm15$20,862 12 Kubota Tractor

830 - Vehicle 1 $6,620/Itm10$6,620 1 2002 Ford Ranger

Undesignated32000 -

100 - Miscellaneous 1 $1,100/LS1$1,100 1 Reserve Items


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Replacement Cost

Useful

Life

Remaining

Life Quantity

Cost/




First Draft


Excluded Components


130 - Surface Restoration 2,148 $1.20/SqFt5$2,578 1 Fitness Building

134 - Surface Restoration 4,240 $1.10/SqFt5$4,680 1 Clubhouse

150 - Stain 364 $1.66/SqFt5$603 1 Clubhouse Upper Level Deck

152 - Stain 172 $1.66/SqFt5$285 1 Clubhouse Lower Deck

406 - Railings 835 $9.00/l.f.5$7,515 0 Barn Perimeter Fencing


100 - Building 1,987 $1.10/SqFt8$2,193 3 Gym Building

102 - Building 1 $760/LS2$760 1 Barn

Fencing19000 -

990 - Post & Cable 1 $1,131/LS5$1,131 2 Park Perimeter

994 - Post & Cable 26 $126/Itm5$1,091 2 (33%) [nr:3] Park Perimeter Posts


124 - Wood: 4' 69 $226/l.f.25$15,613 3 Lower Lake Bulkhead


600 - Water Heater 1 $993/Itm15$993 2 Barn 40 US Gallon

602 - Water Heater 1 $773/Itm12$773 2 Clubhouse

Audio / Visual24500 -

300 - PA System 1 $629/LS10$629 2 Clubhouse


880 - Boat 2 $883/Itm5$1,766 1 Lower LakeLower LakeLower Lake


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Section VII-a

Expenditures by Year - Next 4 YearsFirst Draft


Reserve Component

Life

Useful Replacement Cost

Current Forecast

Inflated Cost @ 2.50%

2016Concrete02000 -


6005


5,00015

5,600Total 02000 - Concrete: 5,600



1,7541

Tennis Court17000 -


5325



5005


14,00020

14,500Total 17500 - Basketball / Sport Court: 14,500



6,5705

Fencing19000 -


1,7541



1,0401

31,750Total 2016:

2017Paving01000 -


2,4395 2,500


5195 532


1,0065 1,031


7935 812


1695 173


3275 335


1,0055 1,030


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Reserve Component

Life


Current Forecast



Expenditures by Year- Next 4 Years

First Draft


2017Paving01000 -

6,413Total 01000 - Paving: 6,258



4925 504

Landscaping18000 -


3,1505 3,229



30,0002 30,750

Flooring25000 -


35010 359


2,08012 2,132

2,491Total 25000 - Flooring: 2,430



7202 738


6,62010 6,786

7,524Total 30000 - Miscellaneous: 7,340

Undesignated32000 -


1,1001 1,128

52,03950,770Total 2017:

2018Painting: Exterior03000 -


4,0195 4,223

Rehab08000 -


3,32020 3,488


10,04520 10,554


3,79520 3,987

18,029Total 08000 - Rehab: 17,160

Flooring25000 -


3807 399



4005 420

Appliances27000 -


1,60012 1,681


85010 893


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Reserve Component

Life


Current Forecast



Expenditures by Year- Next 4 Years

First Draft


2018Appliances27000 -

2,574Total 27000 - Appliances: 2,450

Undesignated32000 -


1,1001 1,156

26,80125,509Total 2018:

2019Recreation14000 -


1,1005 1,185



1,29010 1,389


8805 948


30,0002 32,307

34,644Total 18500 - Lakes / Ponds: 32,170



2,5005 2,692

Furnishings24000 -


1,88512 2,030



3,8656 4,162



1,17020 1,260

Appliances27000 -


50012 538



7202 775

Undesignated32000 -


1,1001 1,185

48,47145,010Total 2019:


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Section X

Notes to the Auditor

First Draft


This report is intended to assist the auditor while preparing the audit, review or compilation of Crystal Falls Association’s (the "Association") financial documents.

Browning Reserve Group ("BRG") prepared a reserve study for the Association during the 2016 fiscal year. This was done to help determine the Association's reserve contribution for the next fiscal year (2017) and future fiscal years. In addition, BRG prepared the proper statutory disclosures for distribution to the Association members.

This Reserve Study is an Update w/ Site Visit Review. An Update With Site-Visit Reviewis a reserve study update in which the following tasks are performed:

development of a reserve component inventory (verification only, not quantification);

condition assessment based upon on-site visual observation;

life and valuation estimates;

fund status;

and a funding plan. Please note, in order to complete these study tasks, one or more

visits were conducted by BRG to Crystal Falls Association.

For BRG reserve studies, the year in which the study is being conducted, is the first year of the study. For example, this study is being prepared during 2016 and is the Association’s first year in the study. This enables BRG to use a starting point which ties to the last audited financial statement, December 31, 2015. You will notice in Section III, Reserve Fund Balance Forecast, a Beginning Reserve Balance of $12,781 is being used which ties to the last completed audit or review of the Association’s financial statements. BRG then re-builds the first year of the study, in this case 2016, and estimates an ending reserve fund balance. Again, see Section III and the 2016 ending reserve balance estimate of $37,478.

“Re-building” the first year of the study as mentioned above simply means using the 2016 adopted budget for the 2016 reserve contribution. Finally, the 2016 reserve expenses both actual and projected are estimated.

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


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Notes to the Auditor

First Draft


With respect to the reserve component Percent Funded values on the next page(s), here are the calculations:

FFB = Year Cost X Year Effective Age / Useful Life

% Funded = Year Estimated Ending Reserve Balance / Year FFB

Please see Section V - Reserve Fund Balance Forecast.



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Schedule of Supplementary Information for Auditor Component Method

First Draft


Current Repl. Cost

UsefulLife

RemainingLife

2017 Line ItemContribution

based onCash Flow Method

2017 Fully Funded BalanceReserve Component

2016 Fully Funded Balance

01000 - Paving


2,439 5 1 5042,5001,951


519 5 1 107532415


1,006 5 1 2081,031805


793 5 1 164812634


169 5 1 35173135


327 5 1 68335262


21,341 25 17 1,3087,8756,829


4,585 25 17 2811,6921,467


14,000 25 22 9712,2961,680


8,885 25 17 5453,2792,843


1,005 5 1 2081,030804

02000 - Concrete


600 5 0 121123600


5,000 15 0 3363425,000

03000 - Painting: Exterior


4,019 5 2 8513,2962,412


3,501 5 4 7791,435700


492 5 1 102504394

03500 - Painting: Interior


7,111 10 4 7915,1024,266



17,184 40 35 02,6422,148


38,160 40 15 1,39225,42423,850


1,786 10 12 186153137


1,270 5 4 282521254


16,280 20 12 1,1037,5096,512


5,465 15 8 4472,9882,550


1,754 1 0 001,754

996 - Miscellaneous 3,920 20 13 2721,6071,372


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Current Repl. Cost

UsefulLife

RemainingLife






Schedule of Supplementary Information for AuditorComponent Method

First Draft



Barn PVC Pipe

04500 - Decking/Balconies


18,200 20 6 1,06313,99112,740


5,792 25 15 3382,6122,317

05000 - Roofing


12,600 25 21 8532,5832,016


750 25 5 34646600


32,175 25 21 2,1776,5965,148


5,500 25 23 391677440


1,760 30 26 112301235


2,651 25 21 179543424


481 30 26 318264

08000 - Rehab

100 - General Barn

3,900 15 10 3351,5991,300


3,320 20 2 1763,2332,988


5,190 20 11 3432,6602,336


7,725 20 12 5233,5633,090


10,045 20 2 5329,7819,041


3,863 15 7 3082,3762,060


3,500 20 13 2431,4351,225


3,795 20 2 2013,6953,416


4,030 20 11 2662,0651,814

11000 - Gate Equipment


6,650 30 20 3662,4992,217

14000 - Recreation


2,760 8 4 3841,7681,380


1,100 5 3 239677440

17000 - Tennis Court


4,000 7 7 599586500


10,000 21 21 769488455


532 5 0 107109532



2,106 7 7 315308263


7,020 20 20 552360334


500 5 0 101103500


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Current Repl. Cost

UsefulLife

RemainingLife







First Draft




14,000 20 0 0014,000

18000 - Landscaping


3,150 5 1 6503,2292,520

18500 - Lakes / Ponds


4,190 10 7 5021,7181,257


1,290 10 3 1401,058903


880 5 3 191541352


25,168 35 31 03,6852,876


30,000 2 1 15,48730,75015,000


6,570 5 0 1,3241,3476,570

19000 - Fencing


600 35 10 22457429


29,410 35 20 1,38713,78112,604


3,588 5 4 7981,471718


7,200 30 15 3503,9363,600


1,794 18 4 1111,5321,395


2,880 18 10 2061,4761,280


3,400 6 5 6461,162567


33,400 30 5 1,26929,67027,833


1,754 1 0 001,754

19500 - Retaining Wall


1,600 25 7 771,2461,152

20000 - Lighting


1,105 15 9 93529442

21000 - Signage


1,400 20 15 102431350

22000 - Office Equipment


2,500 5 3 5421,5381,000

23000 - Mechanical Equipment


880 20 10 57496440


880 20 5 50722660


7,770 12 7 7753,9823,238

24000 - Furnishings


1,700 12 4 1581,3071,133


1,485 20 5 851,2181,114

110 - Chairs 6,150 12 5 5844,2033,588


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Current Repl. Cost

UsefulLife

RemainingLife







First Draft


24000 - Furnishings

123 Clubhouse


1,885 12 3 1701,6101,414

24600 - Safety / Access


3,500 10 6 4091,7941,400


3,865 6 3 6992,6411,933


1,040 1 0 001,040


4,378 6 5 8311,496730

25000 - Flooring


8,680 15 7 6935,3384,629


350 10 1 36359315


2,080 12 1 1792,1321,907


380 7 2 57334271

26000 - Outdoor Equipment


5,000 18 7 3333,4173,056


5,000 15 7 3993,0752,667


1,170 20 3 631,079995


780 20 5 44640585


400 5 2 85328240


1,430 7 5 233628409


5,500 12 6 5353,2892,750


775 15 9 65371310

27000 - Appliances


1,100 12 4 102846733


800 12 4 74615533


880 12 4 82677587


1,600 12 2 1411,5031,333


500 12 3 45427375


550 12 5 52376321


850 10 2 90784680



695 24 6 34564521


1,280 24 8 65929853


720 2 1 372738360


18,200 15 5 1,38313,68012,133


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Current Repl. Cost

UsefulLife

RemainingLife







First Draft




20,862 15 12 1,8845,7024,172


6,620 10 1 6836,7865,958

32000 - Undesignated


1,100 1 1 5681,128550

Totals 313,304 58,605618,270

[B]

13.03%Percent Funded

[EndBal]

[B]

288,182

[A]

13.01%

[EndBal]

[A]


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Section XI

Glossary

First Draft


of Reserve Study Terms

Terms & Definitions CAI

CASH FLOW METHOD: A method of developing a Reserve Funding Plan where

contributions to the Reserve fund are designed to offset the variable annual expenditures from the Reserve fund. Different Reserve Funding Plans are tested against the anticipated schedule of Reserve expenses until the desired Funding Goal is achieved.

COMPONENT INVENTORY: The task of selecting and quantifying Reserve Components.

This task can be accomplished through on-site visual observations, review of association design and organizational documents, a review of established association precedents, and discussion with appropriate representative(s) of the association or cooperative.

COMPONENT METHOD: A method of developing a Reserve Funding Plan where the total

contribution is based on the sum of contributions for individual components. See “Cash Flow Method.

COMPONENT: The individual line items in the Reserve Study, developed or updated in the

Physical Analysis. These elements form the building blocks for the Reserve Study. Components typically are: 1) Association responsibility, 2) with limited Useful Life expectancies, 3) predictable Remaining Useful Life expectancies, 4) above a minimum threshold cost, and 5) as required by local codes.

CONDITION ASSESSMENT: The task of evaluating the current condition of the

component based on observed or reported characteristics.

CURRENT REPLACEMENT COST: See “Replacement Cost."

DEFICIT: An actual (or projected) Reserve Balance less than the Fully Funded Balance.

The opposite would be a Surplus.

EFFECTIVE AGE: The difference between Useful Life and Remaining Useful Life. Not

always equivalent to chronological age, since some components age irregularly. Used primarily in computations.

FINANCIAL ANALYSIS: The portion of a Reserve Study where current status of the

Reserves (measured as cash or Percent Funded) and a recommended Reserve contribution rate (Reserve Funding Plan) are derived, and the projected Reserve income and expense over time is presented. The Financial Analysis is one of the two parts of a Reserve Study.


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Glossaryof Reserve Study Terms

First Draft


FULLY FUNDED BALANCE (FFB): Total Accrued Depreciation. An indicator against which

Actual (or projected) Reserve balance can be compared. The Reserve balance that is in direct proportion to the fraction of life “used up” of the current Repair or Replacement cost. This number is calculated for each component, then summed together for an association total. Two formulae can be utilized, depending on the provider’s sensitivity to interest and inflation effects. Note: Both yield identical results when interest and inflation are equivalent.

FFB = Current Cost X Effective Age / Useful Life

or

FFB = (Current Cost X Effective Age / Useful Life) + [(Current Cost X Effective Age / Useful Life) / (1 + Interest Rate) ^ Remaining Life] -[(Current Cost X Effective Age / Useful Life) / (1 + Inflation Rate) ^ Remaining Life]

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

to the Fully Funded Balance.

FUND STATUS: The status of the reserve fund as compared to an established benchmark

such as percent funding.

FUNDING GOALS: Independent of methodology utilized, the following represent the basic

categories of Funding Plan goals:

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

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

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

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

FUNDING PLAN: An association’s plan to provide income to a Reserve fund to offset

anticipated expenditures from that fund.

FUNDING PRINCIPLES:

Sufficient Funds When Required

Stable Contribution Rate over the Years

Evenly Distributed Contributions over the Years

Fiscally Responsible

LIFE AND VALUATION ESTIMATES: The task of estimating Useful Life, Remaining

Useful Life, and Repair or Replacement Costs for the Reserve components.

PERCENT FUNDED: The ratio, at a particular point of time (typically the beginning of the

Fiscal Year), of the actual (or projected) Reserve Balance to the Fully Funded Balance, expressed as a percentage.

PHYSICAL ANALYSIS: The portion of the Reserve Study where the Component Inventory,

Condition Assessment, and Life and Valuation Estimate tasks are performed. This represents one of the two parts of the Reserve Study.


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First Draft


REMAINING USEFUL LIFE (RUL): Also referred to as “Remaining Life” (RL). The

estimated time, in years, that a reserve component can be expected to continue to serve its intended function. Projects anticipated to occur in the initial year have “zero” Remaining Useful Life.

REPLACEMENT COST: The cost of replacing, repairing, or restoring a Reserve Component

to its original functional condition. The Current Replacement Cost would be the cost to replace, repair, or restore the component during that particular year.

RESERVE BALANCE: Actual or projected funds as of a particular point in time that the

association has identified for use to defray the future repair or replacement of those major components which the association is obligated to maintain. Also known as Reserves, Reserve Accounts and Cash Reserves. Based upon information provided and not audited.

RESERVE PROVIDER: An individual that prepares Reserve Studies.

RESERVE STUDY: A budget planning tool which identifies the current status of the

Reserve fund and a stable and equitable Funding Plan to offset the anticipated future major common area expenditures. The Reserve Study consists of two parts: the Physical Analysis and the Financial Analysis.

RESPONSIBLE CHARGE: A reserve specialist in responsible charge of a reserve study

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

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

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

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

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

SPECIAL ASSESSMENT: An assessment levied on the members of an association in

addition to regular assessments. Special Assessments are often regulated by governing documents or local statutes.

SURPLUS: An actual (or projected) Reserve Balance greater than the Fully Funded

Balance. See “Deficit.”

USEFUL LIFE (UL): Total Useful Life or Depreciable Life. The estimated time, in years,

that a reserve component can be expected to serve its intended function if properly constructed in its present application or installation.

The above terms and definitions are from the Community Associations Institute (CAI) national standards.


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First Draft


Terms & Definitions BRG

Browning Reserve Group reserve studies use several terms that are unique to our reports. Our specialized systems have been developed to offer flexibility in many areas of our reporting. Please see below for definitions of abbreviations and symbols used in many of our reserve studies.

NR-1 (LIMITED RECURRENCE, 1 TIME): This signifies a major reserve component

recurs for only a fixed number of cycles. Most often used to display a cost in a specific year only, NR-1 signifies the component only occurs one time. An NR-2 means the component will display for two cycles and so on. This makes it easy to enter one-time costs that pop up from time to time, or to display a cost that may be unique at one replacement date only.

SE-2 (SPREAD EVENLY OVER 2 YEARS): This signifies the major component, when

replaced is spread evenly over 2 or more years. For example if a component will be replaced in year 8 of the study, and there is a SE-2, then the component will be replaced over 2 years, year 8 and year 9. Although the component is split over 2 or more years, each subsequent year will increase by the study’s inflation factor. An SE-3 signifies the component is split over three years and so on.

NSE-2 (SPREAD NON-EVENLY OVER 2 YEARS): Similar to above, but the spread is not

equal in each year. The spread is entered at a different amount for each year in the spread. The total of the spread will always equal 100% of the total replacement cost, excluding inflation.

% (PERCENT TO INCLUDE): This signifies that the component is being replaced at less

than 100 percent of its replacement cost or quantity. Perhaps a component is replaced partially at each replacement year. Another example would be to do a small portion of the work at each replacement year. Oftentimes wood fencing is replaced over several cycles, and the study will display a percentage of the fence at each replacement cycle.

DELAYED START (REMAINING LIFE GREATER THAN USEFUL): In many instances a

component's replacement cycle may not begin immediately, so the replacement cycle start is delayed. Delay is accomplished by setting the remaining life greater than the useful life.

ZERO REMAINING LIFE: Zero remaining life signifies that the component is replaced in

the year which the study is prepared. All replacements are reflected in their replacement year, and the year in which the study is prepared is no different than any other year.


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RESERVE STUDY

Member Distribution Materials

First Draft




Clarity from Complexity

Section Report Page

California: Member Summary 1

Assessment and Reserve Funding Disclosure Summary

3[Civil Code §5570]

Section III: 30 Year Reserve Funding Plan 5Cash Flow Method {c}

1106

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www.BrowningRG.com



May 10, 2016


California Member Summary First Draft


This is a summary of the Reserve Study that has been performed for Crystal Falls Association, (the "Association"). This study was conducted in compliance with California Civil Code Sections 5300, 5550 and 5560 and is being provided to you, as a member of the Association, as required under these statutes. A full copy is available (through the Association) for review by members of the Association.

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

Browning Reserve Group prepared this Update w/ Site Visit Review for the January 1, 2017 - December 31, 2017 fiscal year.

Crystal Falls Association is a Planned Development with a total of 851 Lotss.

The Reserve Study is not an engineering report, and no destructive testing was performed. The costs outlined in the study are for budgetary and planning purposes only, and actual bid costs would depend upon the defined scope of work at the time repairs are made. Also, any latent defects are excluded from this report.

Funding Assessment




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RemainingLife

UsefulLife

Current Replacement

CostReserve Component

2017Fully

Funded Balance

2017Line Item

Contributionbased on

Cash Flow Method

2016Fully

Funded Balance


California Member Summary

First Draft


21,556 4,39701000 - Paving 55,069 5-25 1-22 17,826

465 45702000 - Concrete 5,600 5-15 0-0 5,600

5,236 1,73103000 - Painting: Exterior 8,012 5-5 1-4 3,505

5,102 79103500 - Painting: Interior 7,111 10-10 4-4 4,266

40,843 3,68204000 - Structural Repairs 85,819 1-40 0-35 38,578

16,603 1,40104500 - Decking/Balconies 23,992 20-25 6-15 15,057

11,427 3,77805000 - Roofing 55,916 25-30 5-26 8,927

30,408 2,92708000 - Rehab 45,368 15-20 2-13 27,268

2,499 36611000 - Gate Equipment 6,650 30-30 20-20 2,217

2,445 62214000 - Recreation 3,860 5-8 3-4 1,820

1,183 1,47517000 - Tennis Court 14,532 5-21 0-21 1,487

771 96817500 - Basketball / Sport Court

23,626 5-20 0-20 15,098

3,229 65018000 - Landscaping 3,150 5-5 1-1 2,520

39,099 17,64318500 - Lakes / Ponds 68,098 2-35 0-31 26,958

53,485 4,78919000 - Fencing 84,026 1-35 0-20 50,180

1,246 7719500 - Retaining Wall 1,600 25-25 7-7 1,152

529 9320000 - Lighting 1,105 15-15 9-9 442

431 10221000 - Signage 1,400 20-20 15-15 350

1,538 54222000 - Office Equipment 2,500 5-5 3-3 1,000

5,200 88223000 - Mechanical Equipment

9,530 12-20 5-10 4,338

8,337 99724000 - Furnishings 11,220 12-20 3-5 7,248

5,930 1,93924600 - Safety / Access 12,783 1-10 0-6 5,102

8,163 96525000 - Flooring 11,490 7-15 1-7 7,122

12,826 1,75726000 - Outdoor Equipment 20,055 5-20 2-9 11,010

5,228 58627000 - Appliances 6,280 10-12 2-5 4,562

28,399 4,42130000 - Miscellaneous 48,377 2-24 1-12 23,998

1,128 56832000 - Undesignated 1,100 1-1 1-1 550

Totals $313,304

13.0%Percent Funded

$58,605$618,270

$40,838Estimated Ending Balance $5.74/Lot/month @ 851

$288,182

13.0%

$37,478


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California Assessment and Reserve Funding Disclosure For the Fiscal Year Ending 2017

First Draft

May 10, 2016

(1) The regular assessment per ownership interest is ____________ per month for the fiscal year beginning January 1, 2017.

Note: If assessments vary by the size or type of ownership interest, the assessment applicable to this ownership interest may be found on page ___ of the attached summary.

(2) Additional regular or special assessments that have already been scheduled to be imposed or charged, regardless of the purpose, if they have been approved by the board and/or members:

Date

assessment will be due:

Amount per ownership interest per month or year (if assessments

are variable, see note immediately below):Purpose of the assessment:

N/A $0.00 N/A

Total: $0.00

Note: If assessments vary by the size or type of ownership interest, the assessment applicable to this ownership interest may be found on page ___ of the attached report.

(3) Based upon the most recent reserve study and other information available to the board of directors, will currently projected reserve account balances be sufficient at the end of each year to meet the association's obligation for repair and/or replacement of major components during the next 30 years?

Yes X No

This disclosure has been prepared by Browning Reserve Group and has been reviewed and approved by the association's board of directors based upon the best information available to the association at the time of its preparation. The accuracy of this information over the next 30 years will be dependent upon circumstances which are impossible to predict with specificity, and will require future action to adjust assessments over the period in accordance with the current projections and future developments.

(4) If the answer to (3) is no, what additional assessments or other contributions to reserves would be necessary to ensure that sufficient reserve funds will be available each year during the next 30 years that have not yet been approved by the board or the members

Approximate date assessment will be due: Amount per ownership interest per month or year:

N/A N/A

(5) All major components are included in the reserve study and are included in its calculations. See next page §5300(b)(4), for any major component exclusions.

(6) Based on the method of calculation in paragraph (4) of the subdivision (b) of section 5570, the estimated amount required in the reserve fund at the end of the current fiscal year is $288,182, based in whole or in part on the last reserve study or update prepared by Browning Reserve Group as of May, 2016. The projected reserve fund cash balance at the end of the current fiscal year is $37,478 resulting in reserves being 13.0% percent funded at this date. Civil code section 5570 does not require the board to fund reserves in accordance with this calculation.

An alternate and generally accepted method of calculation has been utilized to determine future reserve contribution amounts. The reserve contribution for the next fiscal year has been determined using the Cash Flow method of calculation (see section III, Reserve Fund Balance Forecast). This is a method of developing a reserve funding plan where the contributions to the reserve fund are designated to offset the variable annual expenditures from the reserve fund. Different reserve funding plans are tested against the anticipated schedule of reserve expenses until the desired funding goal is achieved.


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California Assessment and Reserve Funding Disclosure For the Fiscal Year Ending 2017

First Draft

(7) Based on the method of calculation in paragraph (4) of subdivision (b) of section 5570 of the Civil Code, the estimated amount required in the reserve fund at the end of each of the next five budget years is presented in column (b) 'Fully Funded Balance' in the table immediately below; and the projected reserve fund cash balance in each of those years, taking into account only assessments already approved and other known revenues, is presented in column (c) 'Reserve Ending Balance'; leaving the reserve at percent funding as presented in column (d) 'Percent Funded' in each of the respective years.

FiscalYear(a)

Fully FundedBalance

(b)

PercentFunded

(d)

ReserveEnding Balance

(c)

2017 $313,304 $40,838 13.0%

2018 $321,730 $75,079 23.3%

2019 $357,586 $90,708 25.4%

2020 $373,689 $129,013 34.5%

2021 $412,330 $71,124 17.2%

If the reserve funding plan approved by the association is implemented, the projected fund cash balance in each of those years will be the amounts presented in column (c) 'Reserve Ending Balance' in the table immediately above, leaving the reserve at percent funding as presented in column (d) 'Percent Funded' in each of the respective years.

NOTE: The financial representations set forth in this summary are based on the best estimates of the preparer at that time. The estimates are subject to change. At the time this summary was prepared, 2.50% per year was the assumed long-term inflation rate, and 2.50% per year was the assumed long-term interest rate.

Additional Disclosures

§5565(d) The current deficiency in reserve funding as of December 31, 2017 is $320 per ownership

interest (average).

This is calculated as the current estimate of the amount of cash reserves necessary as of the end of the fiscal year for which the study is prepared, less, the amount of accumulated cash reserves actually (Projected to be) set aside to repair, replace, restore, or maintain the major components.

Deficiency = 2017 Fully Funded Balance - 2017 Reserve Ending BalanceOwnership Interest Quantity

§5300(b)(4) The current board of directors of the association has not deferred or determined to not

undertake repairs or replacements over the next 30 years.

M ajor Component: Justification for Deferral:

N/A N/A

§5300(b)(5) The board of directors as of the date of the study does not anticipate the levy of a

special assessment for the repair, replacement, or restoration of the major components.


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Section III

30 Year Reserve Funding Plan Cash Flow MethodFirst Draft


2016 2017 2018 2019 2020 2021 2022 2023 20252024




5.88 5.74 5.91 6.08 6.25 6.43 6.62 6.81 7.217.01Lots/month @ 851

-2.3% 2.9% 2.9% 2.9% 2.9% 2.9% 2.9% 2.9%2.9%Percentage Increase

1 -4,173 -4,173 -695 0 0 0 0 0 00Special Assessments / Other

620 967 1,431 2,047 2,713 2,471 2,059 2,096 3,5292,560Interest Pre Tax @ 2.50%

37,478 40,838 75,079 90,708 129,013 71,124 95,688 74,105 152,606133,238Ending Balance

Kubota tractor installment plan.1)

2026 2027 2028 2029 2030 2031 2032 2033 20352034




7.42 7.64 7.86 8.09 8.32 8.56 8.81 9.07 9.609.33Lots/month @ 851



4,482 5,158 5,226 5,619 6,614 6,626 6,771 7,157 9,1707,762Interest Pre Tax @ 2.50%

210,408 207,379 215,922 239,217 296,515 240,223 308,240 271,476 385,512357,238Ending Balance

2036 2037 2038 2039 2040 2041 2042 2043 20452044




9.88 10.17 10.46 10.76 11.08 11.40 11.73 12.07 12.7812.42Lots/month @ 851



9,397 8,251 7,391 7,746 9,034 10,456 11,513 12,292 15,14813,536Interest Pre Tax @ 2.50%

375,616 292,703 305,942 321,470 410,243 436,704 495,826 499,799 630,400596,611Ending Balance


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Documents

Reserve Study Transmittal Letter - Crystal Falls Ranchcrystalfallsranch.com/.../Browning-Report-5-10-16.pdf · 5/10/2016 · Crystal Falls Association First Draft Table of Contents