• Summary of the association’s number of units, physical description and Reserve Fund financial condition.
• A projection of Reserve Starting Balance, recommended Reserve contributions, projected Reserve expenses, and projected ending Reserve Balance for a minimum of 20 years.
• A tabular listing of the Component Inventory, component quantity or identifying descriptions, Useful Life, Remaining Life, and Current Replacement Cost.
• A description of methods and objectives utilized in computing the Fund Status and development of the Funding Plan(s).
• Sources utilized to obtain component Repair or Replacement cost estimates.
• A description of the Level of Service by which the Reserve Study was prepared.
• Fiscal year for which the Reserve Study is prepared

Levels of Service

Level 1

Full Study: A Reserve Study in which the following six Reserve Study tasks are performed

• Component Inventory
• Condition Assessment (based upon on-site visual observations)
• Life and Valuation Estimates
• Fund Status
• Funding Plan(s)
• Disclosure Summary Form
• (CA only)

Level 2

Update, With-Site-Visit/On-Site Review: A Reserve Study in which the following six Reserve Study tasks are performed:

• Component Inventory (verification only, not quantification)
• Condition Assessment (based upon on-site visual observations)
• Life and Valuation Estimates
• Fund Status
• Funding Plan(s)
• Disclosure Summary Form (CA only)

Level 3

Update, No-Site-Visit/Off Site Review: A Reserve Study in which the following four Reserve Study tasks are performed:

• Life and Valuation Estimates
• Fund Status
• Funding Plan
• Funding Plan(s)
• Disclosure Summary Form (CA only)

Transition Study

Transition Study: A Reserve Study in which the following five Reserve Study tasks are performed:

• Component Inventory
• Condition Assessment (based upon on-site visual observations)
• Life and Valuation Estimates
• Fund Status
• Funding Plan(s)