Budget preparation time is upon us! We strongly encourage, that every year around this time, association managers and Boards review and ensure that your capital reserve study is accurate and up-to-date. This is one of the most important decisions a board will make for the future of their association. It is an easy and effective way to ensure your community’s capital replacement items are being properly funded with minimal impact on the individual homeowners. With the recent update to the Capital Reserve Study Standards published by Community Associations Institute and the impact of inflation and supply chain issues over the past few years (in some cases resulting in costs as much as 50% higher for some typical components), it is even more critical to have an updated reserve study to ensure the financial health of your community.
To stay on track for a healthy financial future, it is recommended that your Reserve Study be updated every three (3) years.
The Falcon Group Capital Reserves team consists of 6 CAI Certified Reserve Specialists (RS) as well as a Professional Reserve Analyst (PRA) designation awarded by the Association of Professional Analysts.
Contact our Reserve Specialists today for a new or updated reserve study!
