Colorado Reserve Studies
Facilities Advisors Rocky Mountain - Serving the Western Slope, Southern and Southwest Colorado
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Colorado Reserve Statutes - HB-1359
Colorado has adopted specific statutes related to reserve studies, which are set forth in Colorado HB-1359. While the original bill required a reserve study at least every three years, the final bill simply requires that associations adopt a governance policy with respect to reserve studies. Unfortunately, this language is rather ambiguous. Our discussions with Colorado lawyers tells us that most are recommending that associations adopt policies which specify a full reserve study every three years, with annual updates for intervening years.
1) We wrote the book on reserve studies - "Reserve Studies - The Complete Guide"
2) We wrote the standards on reserve studies - ICBI's Generally Accepted Reserve Study Standards - Facilities Advisors president Gary Porter is also president of the International Capital Budgeting Institute (ICBI)
Facilities Advisors, Inc. has been preparing reserve studies since 1982. We have prepared numerous reserve studies for all types of associations; condominiums, planned developments, timeshare associations, and cooperatives. Benefits of selecting Facilities Advisors, Inc. for your reserve study:
- Competitive fees
- Easy-to-read reports
- Internet-based software available to our clients
Competitive fees - We are able to offer competitive fees because of our extensive experience and dedication to using technology to make our services more efficient. This also translates into time savings and the ability to keep fees competitive. We are the only reserve study company to have automated the workflow process to electronically capture component data on site and translate that information into a reserve study report.
We "scope" the reserve study to obtain the right level of detail fo rthe reserve study; the level at which money is expended by the association, as that is the ONLY way the reserve study can ever be correlated to your association financial statements. This makes us more efficient and gives you the best reports. We ask you questions and help tailor the reserve study to your unique association. Our internet-based software, with a multi-dimensional database structure (hidden in the background) and capabilities for three category levels plus major and minor components, gives us the ability to provide data at the correct level, and still be able to "roll up" the data into concise reports.
Responsiveness - We are responsive to your needs. If you request changes to your report, we will make them.
Easy-to-read reports - We prepare your reports at a summary level so they're easily understood, supported by supplemental schedules at a detail component level for management's use. We also provide any statutory and regulatory disclosures. We give you the information you need to (1) prepare your budget, and (2) communicate summary in formation to your board of directors and members.
Internet-based software - We provide you access to our internet-based software we used to prepare your reserve study. This allows you to keep your reserve plan up-to-date, and save money in the future by (1) proactively planning reserve projects, and (2) minimizing future reserve study costs based on your update of component information.
Call us today for a free proposal. (877) 304-6700 for FAI national office.
You win with our unique approach to reserve studies; competitive fees, easy-to-read reports, a component structure tailored to YOUR association, and access to our internet-based software. This is not just an Excel workbook. We give you access to the same software we use to perform your reserve study - the most powerful software in the industry, which has been tested by an independent CPA firm for accuracy of calculations. We work WITH you to help you achieve the best outcome. Request for Proposal Form
Visit our national office web site at www.reservestudyusa.com to see our full range of services as well as sample reports.