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Component Analysis
Reserve Data Analysis
est. 1983
www.rdanorthwest.com
About Reserve Data Analysis
Since 1983 we have provided thousands of thorough and well thought
out catered reserve studies and have offices through the US.
Component Analysis Topics
2
3
4
The Component Analysis is the
foundation for the Reserve Study.
1
Determine what components to
include in the study
Special considerations during the
Component Analysis
Research and compile necessary data
for components.
Component Analysis is the Foundation
Reserve
Study
Funding
Strategy
Financial Analysis
Component Analysis
All other sections of the Reserve Study are based on the Components Analysis which includes
costs figures and a timeline of expenditures in the study.
Process - The Reserve Study
Step 1 Step 2 Step
4
Step
3
Component
Analysis
Financial
Analysis
Develop
Financial
Strategy
Completed
Reserve
Study
Developing a reserve study report requires numerous important steps.
Choosing Components
Governing
Documents
Statutory
Requirements
National Reserve
Study Standards
Historical
Components are chosen based on National Reserve Study Standards,
a review of governing documents, how historically a community has
treated them and statutory requirements.
Review Governing Documents
A review of the governing
documents and maps are
important steps in the reserve
study process.
Questions may come up about
the interpretation of the
governing documents or map
referneces.
If governing documents are not
clear as to who maintains a
component the historical
treatment and the Boards
interpretation of the governing
documents is typically followed.
National Reserve Study Standards
Association
Responsibility
Limited
Useful Life
Predictable
Remaining
Life
Above
Minimum
Cost
Does the component meets the four part test outlined in National
Reserve Study Standards (CAI).
Washington State Statutes
WA State RCW 64.34.382 – Reserve Study - Contents
(a) A reserve component list, including roofing, painting,
paving, decks, siding, plumbing, windows, and any other
reserve component that would cost more than one percent
of the annual budget for major maintenance, repair, or
replacement. If one of these reserve components is not
included in the reserve study, the study should provide
commentary explaining the basis for its exclusion.
Comprehensive Site Inspection
Picture Inventory
• Many pictures taken
• Deferred
maintenance items
photos
Interview Representative
• Meet and interview
representative
• Walk property with
representative
Access Mechanical Areas
• Visual inspection of
mechanical
equipment an
equipment rooms
necessary
Measurements
• Itemized List
• Fixtures Counted
• Square Footage
Condition Assessment
• Visual Inspection
• Condition Level
• Remaining Useful
life
Locations
• Location in
Community
• Different Phases
Indicated when
Applicable
Component Research
Back at the office research
for current costs and
historical records of the
components is completed.
Phone interviews of
Vendors, Board Members
and others may be
necessary.
Utilizing bids obtained, cost
manuals, interviews and
historical costs data to
create to finished list.
Component Analysis
Quantify
Useful
Life
Remaining
Useful Life
Current
Replacement
Cost
Component List
Fully
Developed
Special Considerations
• Phasing multiple components in
the study – different condition levels
(e.g. roofs are different ages on
different building).
• Partial replacement or contingency
– (e.g. concrete repair - 5%
contingency every 3 years).
• Significant non-annual
maintenance expenses to extend
useful life of components may be a
separate component. (e.g.
mechanical equipment cleaning)
Refining the Component List
Some component
repairs & replacement
are covered by
insurance. Fire, acts of
nature, poor
component installs,
etc.
No need to be overly
detailed. Similar
components with
similar useful life and
costs can be bundled
into one component.
(e.g. pool furniture)
IRS & Accounting
interpretations of
components often
should not be utilized.
Usually these are for
tax purposes and not
long term budget
planning.
Update the Reserve
Study to update the
component list – Some
items that were once not
included can be aged
into the study. (e.g.
plumbing failures in an
older community).
Sample Component List
Timeline of Expenditures for Components
Created
Recap – Component Analysis
• Review
Community
Documents
• Site Inspection
Visual Site
Inspection
• Interview
Boards
members,
vendors
• Research costs
data and useful
life's with costs
manuals and
prior interviews
Research in Office • Develop the
comprehensive
list
• Develop the
timeline of
expenses and
repair /
replacement
schedule
• Confirm list
with Client
Finalize Component
Analysis
Do you have
any questions?
??Contact Us
Ph: 866-574-5115
www.rdanorthwest.com

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Reserve Study - The Component Analysis

  • 1. Component Analysis Reserve Data Analysis est. 1983 www.rdanorthwest.com
  • 2. About Reserve Data Analysis Since 1983 we have provided thousands of thorough and well thought out catered reserve studies and have offices through the US.
  • 3. Component Analysis Topics 2 3 4 The Component Analysis is the foundation for the Reserve Study. 1 Determine what components to include in the study Special considerations during the Component Analysis Research and compile necessary data for components.
  • 4. Component Analysis is the Foundation Reserve Study Funding Strategy Financial Analysis Component Analysis All other sections of the Reserve Study are based on the Components Analysis which includes costs figures and a timeline of expenditures in the study.
  • 5. Process - The Reserve Study Step 1 Step 2 Step 4 Step 3 Component Analysis Financial Analysis Develop Financial Strategy Completed Reserve Study Developing a reserve study report requires numerous important steps.
  • 6. Choosing Components Governing Documents Statutory Requirements National Reserve Study Standards Historical Components are chosen based on National Reserve Study Standards, a review of governing documents, how historically a community has treated them and statutory requirements.
  • 7. Review Governing Documents A review of the governing documents and maps are important steps in the reserve study process. Questions may come up about the interpretation of the governing documents or map referneces. If governing documents are not clear as to who maintains a component the historical treatment and the Boards interpretation of the governing documents is typically followed.
  • 8. National Reserve Study Standards Association Responsibility Limited Useful Life Predictable Remaining Life Above Minimum Cost Does the component meets the four part test outlined in National Reserve Study Standards (CAI).
  • 9. Washington State Statutes WA State RCW 64.34.382 – Reserve Study - Contents (a) A reserve component list, including roofing, painting, paving, decks, siding, plumbing, windows, and any other reserve component that would cost more than one percent of the annual budget for major maintenance, repair, or replacement. If one of these reserve components is not included in the reserve study, the study should provide commentary explaining the basis for its exclusion.
  • 10. Comprehensive Site Inspection Picture Inventory • Many pictures taken • Deferred maintenance items photos Interview Representative • Meet and interview representative • Walk property with representative Access Mechanical Areas • Visual inspection of mechanical equipment an equipment rooms necessary Measurements • Itemized List • Fixtures Counted • Square Footage Condition Assessment • Visual Inspection • Condition Level • Remaining Useful life Locations • Location in Community • Different Phases Indicated when Applicable
  • 11. Component Research Back at the office research for current costs and historical records of the components is completed. Phone interviews of Vendors, Board Members and others may be necessary. Utilizing bids obtained, cost manuals, interviews and historical costs data to create to finished list.
  • 13. Special Considerations • Phasing multiple components in the study – different condition levels (e.g. roofs are different ages on different building). • Partial replacement or contingency – (e.g. concrete repair - 5% contingency every 3 years). • Significant non-annual maintenance expenses to extend useful life of components may be a separate component. (e.g. mechanical equipment cleaning)
  • 14. Refining the Component List Some component repairs & replacement are covered by insurance. Fire, acts of nature, poor component installs, etc. No need to be overly detailed. Similar components with similar useful life and costs can be bundled into one component. (e.g. pool furniture) IRS & Accounting interpretations of components often should not be utilized. Usually these are for tax purposes and not long term budget planning. Update the Reserve Study to update the component list – Some items that were once not included can be aged into the study. (e.g. plumbing failures in an older community).
  • 16. Timeline of Expenditures for Components Created
  • 17. Recap – Component Analysis • Review Community Documents • Site Inspection Visual Site Inspection • Interview Boards members, vendors • Research costs data and useful life's with costs manuals and prior interviews Research in Office • Develop the comprehensive list • Develop the timeline of expenses and repair / replacement schedule • Confirm list with Client Finalize Component Analysis
  • 18. Do you have any questions? ??Contact Us Ph: 866-574-5115 www.rdanorthwest.com