Condominium Boards are required to provide annual disclosures to the community with relation to the reserve account, percent funded and loans / special assessments being planned or implemented.
All of our reserve studies include a disclosure form which complies with state regulations.
Typical disclosure requirements include the adopted budget amount, reserve allocation amounts, the adequacy of the reserve allocation versus the reserve study recommendations and loan/special assessment planned or implemented.
Knowledge of building & site components, costs and concepts such as the fully funded balance and percent funded are needed to adequately comply with state disclosure regulations. As a service to our clients we include these disclosure forms in our fees for the reserve studies performed.