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Crown Harbor Homeowner Association

Reserve Study of 2012

The reserve study from 2012 was used to set the dues for 2013, 2014, and 2015.

reserve study review for 2015

Findings from the 2012 Reserve Study Review for 2015

  • In 2015 we were in the fourth year of our five year assessment to collect money to replace the peaked roofs. Combined with the remaining year of assessments, this is enough money to get this work done. The walk-out roofs (not part of the original scope) came out of the reserve fund in 2014.

  • Based just on the reserve study, there are two viable options:

    • Going forward, if we raise the dues 3.5% each year to stay ahead of inflation (i.e., experience a 2% increase in costs due to inflation) and build up the reserve to handle large expenditures in the future, over the next 27 years, we can stay afloat without the need to have additional special assessments.
    • Going forward, if we only raise the dues 2.5% each year to stay ahead of inflation (i.e., experience a 2% increase in costs due to inflation) and slightly build up the reserve to handle large expenditures in the future, over the next 27 years, we can stay afloat but need to have special assessments, equal to the one we are having now, in years 2024, 2030, 2032 through 2037.
  • The Reserve Study includes additional monthly expenditures recommended by Javier Murillo of Cagwin & Dorward in their "Landscaping Improvement Program Prepared for Crown Harbor H.O.A." (dated 08/18/2014). These expenses are in addition to the monthly maintenance they currently perform for the association. If this plan is not adopted, monthly operating expenses and one reserve account item are reduced.

The Reserve Study Committee started with a spreadsheet (spreadsheet for 2015) that depicts income, expenses, and their effects on the reserve account. From that spreadsheet, a report (dated September 4, 2014) was provided to the Board.

 
reserve Actually the Association Reserves reserve study for 2012 had 39 line items that need to be collected for:

Equal Per Unit Type
Asphalt / ConcreteAsphalt Walkway — Resurface
Asphalt Walkway — Reseal/Repair
Concrete Drive/Walk — Repair
Asphalt — Resurface
Asphalt — Seal/Repair
Special Concrete — Replace (30%)
LightsPole Lights — Replace
Bollard Lights — Replace
Wall Lights — Replace
MailboxesMailboxes — Replace
BenchesWooden Benches — Replace
Walls / FencesWood Retaining Wall — Replace
Wood Fence — Replace
Entry SystemIntercom — Replace
Vehicle Gate Operator — Replace
Vehicle Gates — Replace
Pedestrian Gate Operators — Replace
Pedestrian Gates — Replace
Irrigation SystemBackflow Device — Replace
Irrigation Controllers — Replace
LandscapingTree — Removal
Landscaping — Replenish
Iron GatesIron Gates — Repaint
SignsWooden Street Signs — Replace
Monument Sign — Replace
Sewer SystemPump Controllers — Replace
Sewage Pumps — Replace
Reserve StudyReserve Study — Update
Variable Per Unit Type
DeckElastomeric Deck — Seal/Repair
Elastomeric Deck — Resurface
StairsWooden Stairs — Repair/Replace
DeckWood Deck — Repair/Replace
PaintBuilding Exteriors — Repaint
SurfacesWood Surfaces — Repair/Replace (phase 1)
Wood Surfaces — Repair/Replace (phase 2)
Wood Surfaces — Repair/Replace (phase 3)
RoofComp Shingle Roof — Replace
Flat Roof — Replace
Downspouts/Gutters — Repair/Replace
operating In addition to the variable items in the reserve study, insurance is calculated according to the variable ratios, but that comes out of the operating budget. A table for the 2012 operating account similar to the one for the reserve account looks like:

Equal Per Unit Type
FinancialAccounting And Tax Preparation
Bank Charges
MeetingsCommittees/meetings
Social Events
LegalCollection Fees
Consultation
ManagementManagement Contract
Extra Management Services
Office ExpenseCopies And Printing
Misc
Postage
TaxesTaxes — Federal
Taxes — State
LandscapingIrrigation System Repairs
Landscape Contract
Landscape Replacement
New Plantings
Tree Service
OtherKeys And Locks
Miscellaneous Contingency
Signs
Supplies — Lighting
Supplies — Miscellaneous
Telephone
MaintenanceMaintenance
Maintenance — Misc
Maintenance — Sewer
Lift Station Pump Inspection Contract
RepairsBuilding
Gutters
Sidewalks
Interiors
Gates And Fences
Lighting/electric
Plumbing
Roofs
UtilitiesElectrical
Refuse Disposal
Water
Variable Per Unit Type
InsuranceHazard Insurance
Earthquake Insurance

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