Our studies include a Assessment and Funding Disclosure form which complies with statutory requirements for the Boards annual disclosure to the membership of the community.
Washington, California, Hawaii and many other states have passed regulation for disclosure to the community members. Our studies include disclosure form which comply with these requirements.... Sample Here >>>
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.
Without a reserve study a Manager or Board member will have to conduct their own reserve study to adequately comply with these disclosure requirements that are extensive and require knowledge of common area components and the concepts like "Percent Funded"