The Reserve Fund Study service of Windmills involves a comprehensive assessment of a community association’s physical assets, financials, and long-term funding needs. It typically involves a professional evaluation of the association’s common elements and major components, such as building infrastructure, utilities, operating equipments, roofs, and recreational facilities, to determine their condition, remaining useful life, and estimated repair/replacement costs. The study also evaluates the association’s current reserve fund balance and funding practices, comparing them to industry standards and projecting future funding requirements. The results of a Reserve Fund Study help guide the association’s financial planning, budgeting, and decision-making, ensuring that adequate funds are set aside to cover future repair and replacement expenses, and promoting the long-term sustainability and financial health of the community.
