Reserve Program – What’s included and how it works
Capital asset reserve calculations can be complicated, but this Program breaks down those complexities into an easy to follow, step-by-step process, to be completed in a pre-determined order.
The Program includes a complete list of what specific information needs to be first gathered, as well as tips on where and how to go about getting this information.
From here, the Reserve Program instructions take you through the spreadsheet and database part of the Program, noting where and how to enter various information in an easy to follow format. Cells that need data input on clearly marked within the Program.
After all the data is entered, your recommended monthly reserve amount to charge Co-Owners for the current and subsequent years are calculated automatically as part of the Program function. Also included is information on how to interpret the results, and recommendations on how to use this information.
The Program even has a troubleshooting guide to assist you should you get stuck while entering data into the system.
Finally, there is an example to follow of a fictional Association (the Busse Woods Condominium Association) on how this association calculated their capital reserves for Roof replacements using the Reserve Program.
This Program is designed for use by individuals with no previous construction contractor, investment, or financial expertise! All that is needed is that the individual tasked with using the Program (an Association Board member or some else appointed by the Board) have a basis to intermediate knowledge of Microsoft 2010 Excel (or higher) version. Microsoft Excel © is a spreadsheet program that is needed to use this Program.