2014-15 Reserve Study

Amelia Walk CDD
85287 Majestic Walk Boulevard Fernandina Beach, Florida 32034
Report No: 3361 For the Period
From: October 1, 2014 To: September 30, 2015

TABLE OF CONTENTS

INTRODUCTION

1 – 1	Letter of Introduction

1 - 2	Summary of Recommendation & Findings 1 - 3	Report Process
1 - 4	Florida Statutory Reserve Requirements 1 - 6	Reserve Study Accounting Explanation 1 - 7	Report Terminology & Definitions
1 - 8	Report Abbreviations & Annual Update Info 1 - 9	Terms & Conditions
- 10 Report Notes

GRAPHS

- 1	Charts & Graphs

SCHEDULE

- 1	Straight Line Funding Plan

CASH FLOW

- 1	30 Year Pooled Cash Flow Plan

PHOTOGRAPHS

- 1	Reserve Component Photographs

Section 1

Introduction

This section of the report includes a cover letter, summary of findings as well as general information such as any governing laws or regulations, definitions, report terminology and accounting procedures used.

Also included in this section are this report's terms and conditions as well as this Company's background.

February 4, 2014

Board of Directors Amelia Walk CDD
85287 Majestic Walk Boulevard Fernandina Beach, Florida 32034

Re: Reserve Study Report

Dear Board Members:

As authorized, this reserve study report has been prepared on the Amelia Walk CDD property, located at 85287 Majestic Walk Boulevard in Fernandina Beach, Florida. A summary of our recommendations and findings can be found on the next page.

Your report has been divided into sections for easier referencing. This first section titled “INTRODUCTION” includes all of your general information such as report definitions, accounting formulas used, statutory requirements, etc.

Section two of the report titled "GRAPHS" shows in graph form the reserve schedules we have calculated and should give you a better understanding of the numbers.

In this report we have taken two approaches to calculating the 2014-15 reserve contribution amount. Section three titled "SCHEDULE" uses straight line accounting method. This schedule will give you the recommended 2014-15 straight line contribution amount.

Section four titled "CASH FLOW" calculates the annual contribution amount based on a thirty year positive cash flow. The total recommended 2014-15 contribution amount using this method is based on pooling all of the reserve funds and creating one general reserve fund. For further explanation of these two funding methods, please refer to the “Reserve Study Accounting” page in section 1.

Thank you for allowing my Company the opportunity of serving you and your Association. Upon your review of this report, should there be any questions, please do not hesitate to contact me.

Prepared By,	Reviewed By,

D.J. Muehlstedt, Jr.	Dreux Isaac
Sr. Reserve Analyst/Insurance Appraiser	President CCI, CCC, Certified Marshall & Swift

Summary of Recommendations & Findings

General Information

Property Name:
Property Location:	Amelia Walk CDD
Fernandina Beach, Florida		
Property Number:	3974	Report Run Date:	02/03/2014	
Property Type:	Homeowners	Report No:	3361	
Total Units:	1	Budget Year Begins:	10/01/2014	
Phase:	Phase 1 (1 of 1)	Budget Year Ends:	09/30/2015	

Report Findings

Total number of categories set up in reserve schedule:	7	
Total number of components scheduled for reserve funding:	87	
Total current cost of all scheduled reserve components:	$777,657	
Estimated Beginning Year Reserve Balance:	$0	
Total number of components scheduled for replacement in the 2014-15 Budget Year:	0	
Total cost of components scheduled for replacement in the 2014-15 Budget Year:	$0	

Straight Line Reserve Funding Plan Analysis

Current Annual Reserve Funding Contribution Amount:	$0	
Recommended Annual Reserve Funding Contribution Amount:	$93,349	
Increase (decrease) between Current & Recommended Contribution Amounts:	$93,349	
Increase (decrease) between Current & Recommended Contribution Amounts:	--	

30 Year Pooled Cash Flow Funding Plan Analysis

Current Annual Reserve Funding Contribution Amount:	$0	
Recommended 2014-15 Reserve Funding Contribution Amount:	$54,693	
Recommended 2014-15 Planned Special Assessment Amount:	$0	
Total 2014-15 Reserve Funding and Planned Special Assessment Amount:	$54,693	
Increase (decrease) between Current & Recommended Contribution Amounts:	$54,693	
Increase (decrease) between Current & Recommended Contribution Amounts:	--	

REPORT PROCESS

The purpose of this report is to provide Amelia Walk CDD with specific information necessary in establishing a capital reserves program for the current budget year beginning October 1, 2014 and ending September 30, 2015.

The process of preparing this report began with an on-site inspection of the Association's property. During this inspection, an initial review was made of past reserve expenditures and the current reserve plan. From there, a complete inventory was made of the common area elements and a reserve component list was developed.

Using this list, a takeoff was then made of each component through a review of available construction drawings, checking maintenance records, taking pertinent measurements and noting its current observed physical condition. Additional background information on the property was obtained through discussions with various contact personnel.

Using the information gathered during the site inspection, calculations were then performed to determine the correct quantity of each component. From there cost estimates were then prepared based on a combination of local contractor information, any available bid proposals, and our own database of construction costs.

Asset lives have been determined using a combination of published guidelines and our review of the properties climatic conditions and the components observed physical condition noted during our site inspection.

Based on the latest available financial records, projections were made as to what the Association's end of year reserve balances would be. However, accumulating interest on the varying reserve balance amounts and/or unplanned expenditures may cause the actual end of year reserve balances to differ from what is presented in this report.

Note-Part of Chapter 720, Florida Statutes, addresses the reserve budget requirements for Homeowners’ Associations. Below is an excerpt from this Chapter which addresses this requirement.

Chapter 720.303 Florida Statutes

BUDGETS.
The association shall prepare an annual budget that sets out the annual operating expenses. The budget must reflect the estimated revenues and expenses for that year and the estimated surplus or deficit as of the end of the current year. The budget must set out separately all fees or charges paid for by the association for recreational amenities, whether owned by the association, the developer, or another person. The association shall provide each member with a copy of the annual budget or a written notice that a copy of the budget is available upon request at no charge to the member. The copy must be provided to the member within the time limits set forth in subsection (5).
In addition to annual operating expenses, the budget may include reserve accounts for capital expenditures and deferred maintenance for which the association is responsible. If reserve accounts are not established pursuant to paragraph (d), funding of such reserves is limited to the extent that the governing documents limit increases in assessments, including reserves. If the budget of the association includes reserve accounts established pursuant to paragraph (d), such reserves shall be determined, maintained, and waived in the manner provided in this subsection. Once an association provides for reserve accounts pursuant to paragraph (d), the association shall thereafter determine, maintain, and waive reserves in compliance with this subsection. This section does not preclude the termination of a reserve account established pursuant to this paragraph upon approval of a majority of the total voting interests of the association. Upon such approval, the terminating reserve account shall be removed from the budget

1. If the budget of the association does not provide for reserve accounts pursuant to paragraph (d) and the association is responsible for the repair and maintenance of capital improvements that may result in a special assessment if reserves are not provided, each financial report for the preceding fiscal year required by subsection (7) must contain the following statement in conspicuous type: THE BUDGET OF THE ASSOCIATION DOES NOT PROVIDE FOR RESERVE ACCOUNTS FOR CAPITAL EXPENDITURES AND DEFERRED MAINTENANCE THAT MAY RESULT IN SPECIAL ASSESSMENTS. OWNERS MAY ELECT TO PROVIDE FOR RESERVE ACCOUNTS PURSUANT TO SECTION 720.303(6), FLORIDA STATUTES, UPON OBTAINING THE APPROVAL OF A MAJORITY OF THE TOTAL VOTING INTERESTS OF THE ASSOCIATION BY VOTE OF THE MEMBERS AT A MEETING OR BY WRITTEN CONSENT.
2. If the budget of the association does provide for funding accounts for deferred expenditures, including, but not limited to, funds for capital expenditures and deferred maintenance, but such accounts are not created or established pursuant to paragraph (d), each financial report for the preceding fiscal year required under subsection (7) must also contain the following statement in conspicuous type:THE BUDGET OF THE ASSOCIATION PROVIDES FOR LIMITED VOLUNTARY DEFERRED EXPENDITURE ACCOUNTS, INCLUDING CAPITAL EXPENDITURES AND DEFERRED MAINTENANCE, SUBJECT TO LIMITS ON FUNDING CONTAINED IN OUR GOVERNING DOCUMENTS. BECAUSE THE OWNERS HAVE NOT ELECTED TO PROVIDE FOR RESERVE ACCOUNTS PURSUANT TO SECTION 720.303(6), FLORIDA STATUTES, THESE FUNDS ARE NOT SUBJECT TO THE RESTRICTIONS ON USE OF SUCH FUNDS SET FORTH IN THAT STATUTE, NOR ARE RESERVES CALCULATED IN ACCORDANCE WITH THAT STATUTE.

An association is deemed to have provided for reserve accounts if reserve accounts have been initially established by the developer or if the membership of the association affirmatively elects to provide for reserves. If reserve accounts are established by the developer, the budget must designate the components for which the reserve accounts may be used. If reserve accounts are not initially provided by the developer, the membership of the association may elect to do so upon the affirmative approval of a majority of the total voting interests of the association. Such approval may be obtained by vote of the members at a duly called meeting of the membership or by the written consent of a majority of the total voting interests of the association. The approval action of the membership must state that reserve accounts shall be provided for in the budget and must designate the components for which the reserve accounts are to be established. Upon approval by the membership, the board of directors shall include the required reserve accounts in the budget in the next fiscal year following the approval and each year

thereafter. Once established as provided in this subsection, the reserve accounts must be funded or maintained or have their funding waived in the manner provided in paragraph (f).
The amount to be reserved in any account established shall be computed by means of a formula that is based upon estimated remaining useful life and estimated replacement cost or deferred maintenance expense of each reserve item. The association may adjust replacement reserve assessments annually to take into account any changes in estimates of cost or useful life of a reserve item.
After one or more reserve accounts are established, the membership of the association, upon a majority vote at a meeting at which a quorum is present, may provide for no reserves or less reserves than required by this section. If a meeting of the unit owners has been called to determine whether to waive or reduce the funding of reserves and such result is not achieved or a quorum is not present, the reserves as included in the budget go into effect. After the turnover, the developer may vote its voting interest to waive or reduce the funding of reserves. Any vote taken pursuant to this subsection to waive or reduce reserves is applicable only to one budget year.
Funding formulas for reserves authorized by this section must be based on a separate analysis of each of the required assets or a pooled analysis of two or more of the required assets.
	If the association maintains separate reserve accounts for each of the required assets, the amount of the contribution to each reserve account is the sum of the following two calculations:
The total amount necessary, if any, to bring a negative component balance to zero.
The total estimated deferred maintenance expense or estimated replacement cost of the reserve component less the estimated balance of the reserve component as of the beginning of the period the budget will be in effect. The remainder, if greater than zero, shall be divided by the estimated remaining useful life of the component. The formula may be adjusted each year for changes in estimates and deferred maintenance performed during the year and may include factors such as inflation and earnings on invested funds.
If the association maintains a pooled account of two or more of the required reserve assets, the amount of the contribution to the pooled reserve account as disclosed on the proposed budget may not be less than that required to ensure that the balance on hand at the beginning of the period the budget will go into effect plus the projected annual cash inflows over the remaining estimated useful life of all of the assets that make up the reserve pool are equal to or greater than the projected annual cash outflows over the remaining estimated useful lives of all the assets that make up the reserve pool, based on the current reserve analysis. The projected annual cash inflows may include estimated earnings from investment of principal and accounts receivable minus the allowance for doubtful accounts. The reserve funding formula may not include any type of balloon payments.
Reserve funds and any interest accruing thereon shall remain in the reserve account or accounts and shall be used only for authorized reserve expenditures unless their use for other purposes is approved in advance by a majority vote at a meeting at which a quorum is present. Prior to turnover of control of an association by a developer to parcel owners, the developer-controlled association shall not vote to use reserves for purposes other than those for which they were intended without the approval of a majority of all nondeveloper voting interests voting in person or by limited proxy at a duly called meeting of the association.

ASSOCIATION FUNDS; COMMINGLING.—
All association funds held by a developer shall be maintained separately in the association’s name. Reserve and operating funds of the association shall not be commingled prior to turnover except the association may jointly invest reserve funds; however, such jointly invested funds must be accounted for separately.
No developer in control of a homeowners’ association shall commingle any association funds with his or her funds or with the funds of any other homeowners’ association or community association.
Association funds may not be used by a developer to defend a civil or criminal action, administrative proceeding, or arbitration proceeding that has been filed against the developer or directors appointed to the association board by the developer, even when the subject of the action or proceeding concerns the operation of the developer-controlled association.

RESERVE STUDY ACCOUNTING

This reserve study report calculates the annual reserve contribution using two methods. These are as follows:

Straight Line Funding Plan

This plan utilizes straight line accounting formulas. Straight line accounting is based on current costs and neither interest or inflation is factored into the calculations.

Straight line accounting takes each individual line item component listed in the reserve schedule breakdown and computes its' annual contribution amount by taking its' unfunded balance (current replacement cost minus projected year end reserve balance) and divides it’s by the component's remaining life. This is the amount that should be contributed into the reserves accounts over the component's remaining life.

30 Year Pooled Cash Flow Plan

To calculate the annual contribution amount using this method, a thirty year cash flow analysis is performed to determine that there will be adequate reserve funds on deposit as the reserve components of the property age and are repaired and/or replaced.

This analysis takes the total beginning year reserve balance along with the projected annual reserve expenditures over a thirty year period, and through pooling of all of the reserve funds and creating one general reserve fund, arrives at an annual contribution amount so as to provide a positive cash flow and adequate reserve account balance over the next thirty years.

Unlike straight line accounting, the numbers calculated in the thirty year cash flow plan factor in both interest and inflation as well as any annual contribution increases.

REPORT TERMINOLOGY & DEFINITIONS

RESERVES - Monies set aside for the projected repair and/or replacement of the associations common elements.

COMPONENT - A specific item or element which is part of the association's common area assets and is considered to require reserve funding.

QUANTITY - The quantity or amount of each reserve component element.

UNITS - The unit of measurement for each quantity.

COST PER UNIT - The estimated cost to replace a reserve component per unit of measurement.

CURRENT COST - The estimated current cost to replace a reserve component.

USEFUL LIFE - The total average estimated life, in years, of a component to maintain its useful purpose.

REMG (REMAINING) LIFE - The estimated remaining useful life, in years, of a reserve component as of the current budget year.

09/30/2014 BALANCE - A projection of estimated reserve funds at the end of the previous budget year.

UNFUNDED BALANCE - The total remaining amount of reserve funds that are required to fully fund a component. Calculated by subtracting the component's current replacement cost from its' year end reserve balance.

2014-15 CONTRIBUTION - This is the total annual contribution amount for the current budget year calculated by dividing every component's unfunded balance by its' remaining life.

RESERVE SCHEDULE UNIT ABBREVIATIONS

Sq Ft - Square Feet	Lp Sm - Lump Sum	Dbl Ct - Double Tennis Court	
Ln Ft - Linear Feet	Allow - Allowance	Court - Court	
Each - Each	Hp - Horsepower	Units - Units	
Sq Yds - Square Yards	Cu Ft - Cubic Feet	Cu Yds - Cubic Yards	
Kw - Kilowatts	Pair - Pair	Squares - Squares (roofing)	

ANNUAL UPDATE REPORTS

Inflation, labor rates, material availability, taxes, insurance and asset lives are just but a few of the ever changing variables addressed in your reserve study report.

Now that your "First Time" reserve study has been completed, it is important that you keep your program on target with our annual "Update" reports. Since the initial calculations on the property have now been performed, we can offer this service to you (with or without site re-inspection) at just a percentage of the cost of your "First Time" reserve study.

We recommend annual "Update" reports (without site re-inspection) for the first three years following your "First Time" reserve study. In performing these reports, we will take the information from your computer file and calculate current replacement cost values, asset lives and financial figures based on the latest available information.

Then in the fourth year we suggest making a brief site re-inspection to observe the present physical condition of your reserve components to determine if any adjustments should be made to the remaining life expectancies, or unit costs of each component. Once completed we can then repeat this four year cycle of your reserve program for as long as you wish. By following this recommended plan, your reserve program will have the most accurate information available each year from which you can make sound budget decisions.

It is also our recommendation that the Association contact our office annually to inquire about having an "Update" report prepared for the coming year. However, you can request an "Update" report at any time by contacting us.

TERMS AND CONDITIONS

Dreux Isaac & Associates, Inc. uses various sources to accumulate data on construction material and labor prices in order to arrive at its’ opinion of cost. The information obtained from these sources is considered to be correct and reasonable, but is not guaranteed. No liability is assumed as a result of inaccuracies or errors in such information or estimates, although reasonable efforts have been made to confirm them.

Unless noted, each component cost is based on replacing that component as a complete unit at one time.

While all cost data is believed to be accurate and reliable to within reasonable limits, other factors such as inflation, availability of materials and qualified personnel and/or acts of nature as well as catastrophic conditions, could significantly affect current prices.

No consideration has been given to labor bonuses; material premiums; additional costs to conform property replaced to building codes, ordinances or other legal restrictions; or the cost of demolition in connection with replacement or the removal of destroyed property. No value of land has been included.

We have no present or contemplated future interest in the property that is the subject of this report and that we have no personal interest or bias with respect to the subject matter of this report or the parties involved.

We certify that neither the employment to prepare this report, nor the compensation, is contingent upon the estimates of value contained herein.

In the event that complete construction plans/blueprints were not available for use in the completion of this report, assumptions were made regarding unseen construction components, based on our experience with properties similar to the subject. In the event that these assumptions are in error, we reserve the right to modify this appraisal, including value conclusions.

Information, estimates, and opinions furnished and contained in the report, were obtained from sources considered reliable and are believed to be true and correct. However, for accuracy of such items furnished we can assume no responsibility.

Our assessment of the useful and remaining lives and/or physical condition of the assets described within has been based upon visual inspection. No testing has been performed. No warranty is made and no liability is assumed for the soundness of the structure or its components.

The report data derived and expressed within is not applicable to any other property regardless of similarity.

The authors of this report shall not be required to give testimony or appear in court or at any administrative proceeding relating to this report, unless this report is, by agreement, made in anticipation of litigation.

The liability of Dreux Isaac & Associates, Inc., the author(s) of this report, and any other employees of Dreux Isaac & Associates, Inc. is limited in total to the fee collected for preparation of this report.

According to the best of our knowledge and belief, the statements of fact contained in this report which are used as the basis of the analysis, opinions and conclusions stated herein, are true and correct.

Acceptance of, and/or use of, this report constitutes acceptance of the above conditions.

REPORT NOTES

On the straight line plan summary page the range of useful life and remaining life numbers shown on this "Reserve Schedule Summary" page reflect the minimum and maximum life expectancies of the individual items within each category.

No reserve funding has been established for replacement of the stormwater system. It is believed to be a lifetime system that will require periodic cleaning. It is possible that a failure or breakdown in a section of the system may occur, but the location, timing and scope of such an occurrence is unknown and generally unpredictable. A periodic inspection of the system is recommended.

The irrigation system consists of in-ground PVC piping, heads, valves and timers. Replacement of these items is an ongoing operational expense and as such no reserve funding has been recommended for these irrigation expenses.

Section 2

Graphs

This section of the report shows in graph form the summary of our findings and compares those findings to both current and ideal values. The purpose of these graphs is to give you a better understanding and comprehension of the numbers contained in the report.

The values represented in these graphs can be traced to the schedules found in sections 3 (Schedule) and 4 (Cash Flow) of the report.

Chart A
2014-15 Current Reserve Component Costs

12,327 (1.59%)
   Painting & Waterproofing

32,313 (4.16%)	22,635 (2.91%)

92,479 (11.89%)
Furniture, Fixtures & Equipment

Roofs	 Paving 21,900 (2.82%) Mechanical & Electrical

159,308 (20.49%)
Misc Building Components

436,695 (56.16%)
Misc Site Improvements

Chart B
2014-15 Actual vs. 100% Funded Straight Line Reserve Balances

270,195

Thousands

300

250

200

150

0

100

50

0
Total

Estimated 2014-15 Beginning Year Balances	100% Funded Straight Line 2014-15 Beginning Year Balances

Actual beginning year balances are estimates only based on the latest financial information.
100% funded straight line beginning year balances are based on straight line accounting formulas.

2014-15 Funding Contribution Comparisons

93,349

Thousands

100

90

54,693

80

70

60

50

40

0

30

20

10

0
Total

2013-14 Annual Contribution	Proposed 2014-15 Straight Line Contribution	Proposed 2014-15 Cash Flow Plan Contribution

Proposed 2014-15 Straight Line Contribution = Unfunded Balance / Remaining Life

Thousands

30 Year Pooled Cash Flow Plan (Refer to Section 4 or Report For Data)

400

350

300

250

200

12,54

7,07

150

1

1

8

3,73

8

2,23

2,30

4,69

9

9

100

7

3

6

9

3

5

3

54,69
50

0

Beginning Year Balance	Annual Expenditures	Annual Contribution

Section 3

Schedule

This section of the report utilizes straight line accounting formulas.	Straight line accounting is based on current costs and neither interest or inflation is factored into the calculations.

Straight line accounting takes each individual line item component listed in the reserve schedule breakdown and computes its annual contribution amount by taking its unfunded balance (current replacement cost minus projected year end reserve balance) and divides it by the component's remaining life. This is the amount that should normally be contributed into the reserve accounts over the component's remaining life.

 	Straight Line Plan Summary	

Description	Current	Useful	Remg	9/30/2014	Unfunded	2014-15	
	Cost	Life	Life	Balance	Balance	Contribution	
Roofs	
32,313	
18-30	
12-24	
0	
32,313	
2,412	

Painting & Waterproofing	
12,327	
7-8	
2-3	
0	
12,327	
5,316	

Paving	
22,635	
10-20	
4-14	
0	
22,635	
1,795	

Mechanical & Electrical	
21,900	
12-20	
6-14	
0	
21,900	
3,397	

Misc. Building Components	
159,308	
8-36	
3-30	
0	
159,308	
12,302	

Misc. Site Improvements	
436,695	
7-40	
3-34	
0	
436,695	
43,390	

Furniture, Fixtures & Equipment	
92,479	
6-18	
3-12	
0	
92,479	
24,737	
Grand Total	
777,657			
0	
777,657	
93,349	

Straight Line Plan Detail
Description	Quantity	Units	Cost	Current	Useful	Remg	9/30/14	Unfunded	2014-15	
			Per Unit	Cost	Life	Life	Balance	Balance	Contribution	
										
Roofs										
Roof, Architectural Shingle - Amenity Center	58	Squares	393.00	22,794	18	12	0	22,794	1,900	
Roof, Architectural Shingle - Shelter Dock	2	Squares	393.00	786	18	12	0	786	66	
Roof, Architectural Shingle - Shelter Tennis	5	Squares	393.00	1,965	18	12	0	1,965	164	
Roof, Metal Panel - Amenity Center	6	Squares	846.00	5,076	30	24	0	5,076	212	
Roof, Metal Panel - Main Entry Monument	2	Squares	846.00	1,692	30	24	0	1,692	70	
Roofs Total	5	Components		32,313	18-30	12-24	0	32,313	2,412	
										
Painting & Waterproofing										
Paint Exterior - Amenity Center	1	Total	7,245.00	7,245	7	2	0	7,245	3,622	
Paint Interior - Amenity Center Club Side	1	Total	1,548.00	1,548	8	3	0	1,548	516	
Paint Interior - Amenity Center Gym Side	1	Total	3,534.00	3,534	8	3	0	3,534	1,178	
Painting & Waterproofing Total	3	Components		12,327	7-8	2-3	0	12,327	5,316	
										
Paving										
Asphalt Overlay, 1" Milled - Parking Lot (Amenity Center)	2,119	Sq Yds	10.21	21,635	20	14	0	21,635	1,545	
Concrete Sidewalk Repair Allowance	1	Total	1,000.00	1,000	10	4	0	1,000	250	
Paving Total	2	Components		22,635	10-20	4-14	0	22,635	1,795	
										
Mechanical & Electrical										
A/C Air Handler Unit, 5 Ton - Amenity Center	1	Each	3,907.00	3,907	12	6	0	3,907	651	
A/C Air Handler Unit, 6 Ton - Amenity Center	1	Each	4,643.00	4,643	12	6	0	4,643	774	
A/C Condensing Unit, 5 Ton - Amenity Center	1	Each	3,958.00	3,958	12	6	0	3,958	660	
A/C Condensing Unit, 6 Ton - Amenity Center	1	Each	5,122.00	5,122	12	6	0	5,122	854	
Drinking Fountain, Indoor - Amenity Center	2	Each	925.00	1,850	20	14	0	1,850	132	
Drinking Fountain, Outdoor - Amenity Center	2	Each	925.00	1,850	14	8	0	1,850	231	
Water Heater, Electric - Amenity Center	1	Each	570.00	570	12	6	0	570	95	
Mechanical & Electrical Total	7	Components		21,900	12-20	6-14	0	21,900	3,397	
										
Misc. Building Components
Club Room Side										
Built-In Cabinets & Counters - Kitchen	1	Total	9,559.00	9,559	24	18	0	9,559	531	
Finish, Tile Floor - Club Side Kitchen	131	Sq Ft	11.69	1,532	24	18	0	1,532	85	
Finish, Tile Floor - Club Side Restrooms	141	Sq Ft	11.69	1,649	24	18	0	1,649	92	
Finish, Tile Walls - Club Side Restrooms	214	Sq Ft	12.27	2,626	24	18	0	2,626	146	
Finish, Wood Floor - Club Room	897	Sq Ft	13.23	11,868	20	14	0	11,868	848	
Finish, Wood Wall Paneling - Club Room	523	Sq Ft	5.74	3,003	30	24	0	3,003	125	
Restroom Renovation Allowance - Club Side	1	Total	5,496.00	5,496	24	18	0	5,496	305	

Description	Quantity	Units	Cost	Current Cost	Useful Life	Remg Life	9/30/14
Balance	Unfunded Balance	2014-15
Contribution	
Exterior							
Access Control, FOB Reader - Amenity Center	7	Each	1,417.00	9,919	8	3	0	9,919	3,306	
Deck, PT Wood - Amenity Center	394	Sq Ft	14.59	5,749	20	14	0	5,749	411	
Gutters & Downspouts - Amenity Center	458	Ln Ft	5.32	2,437	22	16	0	2,437	152	
Hardiboard Siding - Amenity Center	3,921	Sq Ft	5.23	20,507	30	24	0	20,507	854	
Patio Deck Brick Pavers - Amenity Center	2,699	Sq Ft	5.94	16,033	30	24	0	16,033	668	
Railing, Alum Picket, 42" - Amenity Center	180	Ln Ft	68.00	12,240	36	30	0	12,240	408	
Screen Enclosure, Alum - Amenity Center	448	Sq Ft	7.11	3,186	36	30	0	3,186	106	
Gym Side										
Finish, Carpet - Gym	65	Sq Yds	37.76	2,455	8	3	0	2,455	818	
Finish, Carpet - Kid's Room	36	Sq Yds	37.76	1,360	8	3	0	1,360	453	
Finish, Carpet - Office & Storage	19	Sq Yds	37.76	718	8	3	0	718	239	
Finish, Mirror Wall Panels - Gym	100	Sq Ft	13.32	1,332	16	10	0	1,332	133	
Finish, Tile Floor - Gym Side Hallway	124	Sq Ft	11.69	1,450	24	18	0	1,450	81	
Finish, Tile Floor - Gym Side Restrooms	566	Sq Ft	11.69	6,617	24	18	0	6,617	368	
Finish, Tile Walls - Gym Side Restrooms	563	Sq Ft	12.27	6,909	24	18	0	6,909	384	
Finish, Wood Wall Paneling - Kid's Room	314	Sq Ft	5.74	1,803	30	24	0	1,803	75	
Restroom Renovation Allowance - Gym Side	1	Total	30,860.00	30,860	24	18	0	30,860	1,714	
Misc. Building Components Total	23	Components		159,308	8-36	3-30	0	159,308	12,302	

Per Unit

Misc. Site Improvements
Dock & Bulkhead
Bulkhead, PT Wood - Dock	50	Ln Ft	165.00	8,250	20	14	0	8,250	589	
Dock, PT Wood Decking	300	Sq Ft	12.54	3,762	12	6	0	3,762	627	
Dock, PT Wood Framing & Pilings	300	Sq Ft	29.72	8,916	24	18	0	8,916	495	
Lake Fountain										
Fountain, Lake, Pump/Motor - Amenity Center North	1	Each	8,846.00	8,846	15	9	0	8,846	983	
Fountain, Lake, Pump/Motor - Amenity Center South	1	Each	6,829.00	6,829	15	9	0	6,829	759	
Fountain, Lake, Pump/Motor - Neighborhood Entry	2	Each	8,846.00	17,692	15	9	0	17,692	1,966	
Lighting										
Light Fixture, Landscape Uplight - Pool Deck	4	Each	417.00	1,668	15	9	0	1,668	185	
Light Fixture, Landscape Uplight - Property	8	Each	417.00	3,336	15	9	0	3,336	371	
Light Fixture, Sign Uplight - Main Entry Monument	4	Each	693.00	2,772	16	10	0	2,772	277	
Light Pole & Fixture - Amenity Center	13	Each	2,661.00	34,593	26	20	0	34,593	1,730	
Playground & Park										
Park, Bench, Coated Steel	5	Each	1,055.00	5,275	24	18	0	5,275	293	
Park, Picnic Table, Coated Steel	2	Each	1,414.00	2,828	24	18	0	2,828	157	
Playground Structure Replacement	1	Total	30,000.00	30,000	20	14	0	30,000	2,143	
Pool										
Awning Fabric, Recover - Pool Deck (2 Total)	960	Sq Ft	11.86	11,386	8	3	0	11,386	3,795	
Awning Frame, Replace - Pool Deck (2 Total)	960	Sq Ft	13.26	12,730	16	11	0	12,730	1,157	
Fence, Alum Picket, 4.5' - Pool Deck	440	Ln Ft	58.00	25,520	26	20	0	25,520	1,276	
Plumbing Fixture, Outdoor Shower - Pool Deck	1	Each	1,300.00	1,300	15	9	0	1,300	144	
Pool Deck Brick Pavers	7,766	Sq Ft	5.94	46,131	30	24	0	46,131	1,922	

Description	Quantity	Units	Cost	Current	Useful	Remg	9/30/14	Unfunded	2014-15	
			Per Unit	Cost	Life	Life	Balance	Balance	Contribution	
Pool Equipment, Filtration System	1	Total	17,602.00	17,602	24	18	0	17,602	978	
Pool Equipment, Handicap Lift	1	Each	4,934.00	4,934	12	6	0	4,934	822	
Pool Finish, Ceramic Tile Trim	1	Total	11,395.00	11,395	12	4	0	11,395	2,849	
Pool Finish, Exposed Aggregate	1	Total	33,202.00	33,202	12	4	0	33,202	8,300	
Signage, Monuments, Fence										
Column, Masonry Block & Brick - Amenity Center	1	Each	1,500.00	1,500	40	34	0	1,500	44	
Column, Masonry Block & Brick - Main Entry	38	Each	1,000.00	38,000	40	34	0	38,000	1,118	
Column, Masonry Block & Brick - Neighborhood	7	Each	1,500.00	10,500	40	34	0	10,500	309	
Fence, Vinyl, 3 Rail Split - Main Entry	728	Ln Ft	27.94	20,341	15	9	0	20,341	2,260	
Signage Allowance - Amenity Center Monument	1	Each	500.00	500	12	6	0	500	83	
Signage Allowance - Main Entry Monument	2	Each	4,000.00	8,000	12	6	0	8,000	1,333	
Signage Allowance - Neighborhood Monument (7)	7	Each	500.00	3,500	12	6	0	3,500	583	
Site Wall, Masonry Block & Brick - Main Entry	564	Sq Ft	27.41	15,460	40	34	0	15,460	455	
Trellis, Wood - Neighborhood Entry (2 Total)	360	Sq Ft	30.48	10,973	15	9	0	10,973	1,219	
Tennis										
Tennis Court Fencing, VC Chain Link	1	Total	12,458.00	12,458	22	16	0	12,458	779	
Tennis Court Resurfacing, Asphalt	1	Dbl Ct	9,232.00	9,232	7	3	0	9,232	3,077	
Trash										
Gate, PVC - Trash Enclosure	2	Each	603.00	1,206	15	9	0	1,206	134	
Site Wall, Masonry Block & Brick - Trash Enclosure	221	Sq Ft	27.41	6,058	40	34	0	6,058	178	
Misc. Site Improvements Total	35	Components		436,695	7-40	3-34	0	436,695	43,390	

Furniture, Fixtures & Equipment										
Appliance Allowance - Kitchen	1	Each	3,180.00	3,180	12	6	0	3,180	530	
Electronics, TV, Flat Screen - Gym	2	Each	1,701.00	3,402	10	10	0	3,402	340	
Fitness, Cardio, Elliptical Cross-Trainer	2	Each	5,786.00	11,572	7	3	0	11,572	3,857	
Fitness, Cardio, Recumbent Bike	1	Each	3,242.00	3,242	8	3	0	3,242	1,081	
Fitness, Cardio, Treadmill	4	Each	4,731.00	18,924	6	3	0	18,924	6,308	
Fitness, Weight Machine, Lat Pulldown/Mid Row	1	Each	2,697.00	2,697	18	12	0	2,697	225	
Fitness, Weight Machine, Leg Extension/Leg Curl	1	Each	3,456.00	3,456	18	12	0	3,456	288	
Fitness, Weight Machine, Multi-Press	1	Each	3,381.00	3,381	18	12	0	3,381	282	
Furnishings/Decorating Allowance - Club Room	1	Total	10,000.00	10,000	12	6	0	10,000	1,667	
Furnishings/Decorating Allowance - Kid's Room	1	Total	3,000.00	3,000	12	6	0	3,000	500	
Furniture, Outdoor - Pool Deck	1	Total	28,325.00	28,325	8	3	0	28,325	9,442	
Lifeguard Chair - Pool Deck	2	Each	650.00	1,300	12	6	0	1,300	217	
Furniture, Fixtures & Equipment Total	12	Components		92,479	6-18	3-12	0	92,479	24,737	

Grand Total	87 Components	777,657	0	777,657	93,349

Section 4

Cash Flow

This section of the report shows an alternate funding plan to that given in the previous section. While all of the same reserve components, costs and life expectancies used in the previous section are used here, the method of calculating the annual reserve contribution is based on a thirty year cash flow analysis.

This funding plan takes the total beginning year reserve balance in year one along with the projected annual reserve expenditures over a thirty year period, and through pooling of all of the reserve funds and creating one general reserve fund, arrives at an annual contribution amount so as to provide a positive cash flow and adequate reserve account balance over the next thirty years.

Unlike the straight line accounting plan used in the previous section, the numbers calculated in the thirty year cash flow plan factor in both interest and inflation as well as any annual contribution increases.

 	Cash Flow Plan Summary	

No	
Year	Beginning
Year	Annual	Annual	Planned	Inflation	Earned	Interest	Ending
Reserve   Increase	Special	Expenses	Rate	Interest	Rate	Year	
		Balance	Contribution		Assessments					Balance	
1	2014-15	0	54,693	0.00%	0	0	3.00%	273	0.50%	54,966	
2	2015-16	54,966	54,693	0.00%	0	7,462	3.00%	1,022	1.00%	103,219	
3	2016-17	103,219	54,693	0.00%	0	108,439	3.00%	989	2.00%	50,462	
4	2017-18	50,462	54,693	0.00%	0	49,826	3.00%	1,660	3.00%	56,989	
5	2018-19	56,989	54,693	0.00%	0	0	3.00%	3,350	3.00%	115,032	
6	2019-20	115,032	55,360	1.22%	0	65,355	3.00%	3,151	3.00%	108,188	
7	2020-21	108,188	57,021	3.00%	0	0	3.00%	4,956	3.00%	170,165	
8	2021-22	170,165	58,732	3.00%	0	2,275	3.00%	6,799	3.00%	233,421	
9	2022-23	233,421	60,494	3.00%	0	124,602	3.00%	5,079	3.00%	174,392	
10	2023-24	174,392	62,309	3.00%	0	36,939	3.00%	5,993	3.00%	205,755	
11	2024-25	205,755	64,178	3.00%	0	101,084	3.00%	5,065	3.00%	173,914	
12	2025-26	173,914	66,103	3.00%	0	48,557	3.00%	5,744	3.00%	197,204	
13	2026-27	197,204	68,086	3.00%	0	0	3.00%	7,959	3.00%	273,249	
14	2027-28	273,249	70,129	3.00%	0	118,001	3.00%	6,761	3.00%	232,138	
15	2028-29	232,138	72,233	3.00%	0	28,624	3.00%	8,272	3.00%	284,019	
16	2029-30	284,019	74,400	3.00%	0	103,974	3.00%	7,633	3.00%	262,078	
17	2030-31	262,078	76,632	3.00%	0	33,385	3.00%	9,160	3.00%	314,485	
18	2031-32	314,485	78,931	3.00%	0	260,647	3.00%	3,983	3.00%	136,752	
19	2032-33	136,752	81,299	3.00%	0	106,377	3.00%	3,350	3.00%	115,024	
20	2033-34	115,024	83,738	3.00%	0	111,373	3.00%	2,622	3.00%	90,011	
21	2034-35	90,011	86,250	3.00%	0	34,179	3.00%	4,262	3.00%	146,344	
22	2035-36	146,344	88,838	3.00%	0	3,442	3.00%	6,952	3.00%	238,692	
23	2036-37	238,692	91,503	3.00%	0	13,882	3.00%	9,489	3.00%	325,802	
24	2037-38	325,802	94,251	3.00%	0	371,509	3.00%	1,456	3.00%	50,000	
25	2038-39	50,000	97,079	3.00%	0	0	3.00%	4,412	3.00%	151,491	
26	2039-40	151,491	99,991	3.00%	0	8,593	3.00%	7,287	3.00%	250,176	
27	2040-41	250,176	102,991	3.00%	0	203,021	3.00%	4,504	3.00%	154,650	
28	2041-42	154,650	106,081	3.00%	0	99,063	3.00%	4,850	3.00%	166,518	
29	2042-43	166,518	109,263	3.00%	0	0	3.00%	8,273	3.00%	284,054	
30	2043-44	284,054	112,541	3.00%	0	276,963	3.00%	3,589	3.00%	123,221	
Grand Total	2,291,898	0	2,317,572	148,895

 	Cash Flow Plan Details	

Category	Description	Cost	
Year 1: 2014-15	No Expenses		
Year 2: 2015-16			
Painting & Waterproofing	Paint Exterior - Amenity Center	7,462	
Year 2 Total		7,462	
			
Year 3: 2016-17			
Painting & Waterproofing	Paint Interior - Amenity Center Club Side	1,642	
Painting & Waterproofing	Paint Interior - Amenity Center Gym Side	3,749	
Misc. Building Components	Access Control, FOB Reader - Amenity Center	10,523	
Misc. Building Components	Finish, Carpet - Gym	2,605	
Misc. Building Components	Finish, Carpet - Kid's Room	1,443	
Misc. Building Components	Finish, Carpet - Office & Storage	762	
Misc. Site Improvements	Awning Fabric, Recover - Pool Deck (2 Total)	12,079	
Misc. Site Improvements	Tennis Court Resurfacing, Asphalt	9,794	
Furniture, Fixtures & Equipment	Fitness, Cardio, Elliptical Cross-Trainer	12,277	
Furniture, Fixtures & Equipment	Fitness, Cardio, Recumbent Bike	3,439	
Furniture, Fixtures & Equipment	Fitness, Cardio, Treadmill	20,076	
Furniture, Fixtures & Equipment	Furniture, Outdoor - Pool Deck	30,050	
Year 3 Total		108,439	
			
Year 4: 2017-18			
Paving	Concrete Sidewalk Repair Allowance	1,093	
Misc. Site Improvements	Pool Finish, Ceramic Tile Trim	12,452	
Misc. Site Improvements	Pool Finish, Exposed Aggregate	36,281	
Year 4 Total		49,826	
Year 5: 2018-19	No Expenses		
Year 6: 2019-20			
Mechanical & Electrical	A/C Air Handler Unit, 5 Ton - Amenity Center	4,529	
Mechanical & Electrical	A/C Air Handler Unit, 6 Ton - Amenity Center	5,383	
Mechanical & Electrical	A/C Condensing Unit, 5 Ton - Amenity Center	4,588	
Mechanical & Electrical	A/C Condensing Unit, 6 Ton - Amenity Center	5,938	
Mechanical & Electrical	Water Heater, Electric - Amenity Center	661	
Misc. Site Improvements	Dock, PT Wood Decking	4,361	
Misc. Site Improvements	Pool Equipment, Handicap Lift	5,720	
Misc. Site Improvements	Signage Allowance - Amenity Center Monument	580	
Misc. Site Improvements	Signage Allowance - Main Entry Monument	9,274	
Misc. Site Improvements	Signage Allowance - Neighborhood Monument (7 Total)	4,057	
Furniture, Fixtures & Equipment	Appliance Allowance - Kitchen	3,686	
Furniture, Fixtures & Equipment	Furnishings/Decorating Allowance - Club Room	11,593	
Furniture, Fixtures & Equipment	Furnishings/Decorating Allowance - Kid's Room	3,478	
Furniture, Fixtures & Equipment	Lifeguard Chair - Pool Deck	1,507	
Year 6 Total		65,355	

Year 7: 2020-21	No Expenses		
Year 8: 2021-22			
Mechanical & Electrical	Drinking Fountain, Outdoor - Amenity Center	2,275	
Year 8 Total		2,275	
			
Year 9: 2022-23			
Painting & Waterproofing	Paint Exterior - Amenity Center	9,178	
Misc. Site Improvements	Fountain, Lake, Pump/Motor - Amenity Center North	11,206	
Misc. Site Improvements	Fountain, Lake, Pump/Motor - Amenity Center South	8,651	
Misc. Site Improvements	Fountain, Lake, Pump/Motor - Neighborhood Entry	22,412	
Misc. Site Improvements	Light Fixture, Landscape Uplight - Pool Deck	2,113	
Misc. Site Improvements	Light Fixture, Landscape Uplight - Property	4,226	
Misc. Site Improvements	Plumbing Fixture, Outdoor Shower - Pool Deck	1,647	
Misc. Site Improvements	Fence, Vinyl, 3 Rail Split - Main Entry	25,767	
Misc. Site Improvements	Trellis, Wood - Neighborhood Entry (2 Total)	13,902	
Misc. Site Improvements	Gate, PVC - Trash Enclosure	1,528	
Furniture, Fixtures & Equipment	Fitness, Cardio, Treadmill	23,972	
Year 9 Total		124,602	
			
Year 10: 2023-24			
Misc. Building Components	Finish, Mirror Wall Panels - Gym	1,738	
Misc. Site Improvements	Light Fixture, Sign Uplight - Main Entry Monument	3,617	
Misc. Site Improvements	Tennis Court Resurfacing, Asphalt	12,046	
Furniture, Fixtures & Equipment	Electronics, TV, Flat Screen - Gym	4,439	
Furniture, Fixtures & Equipment	Fitness, Cardio, Elliptical Cross-Trainer	15,099	
Year 10 Total		36,939	
			
Year 11: 2024-25			
Painting & Waterproofing	Paint Interior - Amenity Center Club Side	2,080	
Painting & Waterproofing	Paint Interior - Amenity Center Gym Side	4,749	
Misc. Building Components	Access Control, FOB Reader - Amenity Center	13,330	
Misc. Building Components	Finish, Carpet - Gym	3,299	
Misc. Building Components	Finish, Carpet - Kid's Room	1,828	
Misc. Building Components	Finish, Carpet - Office & Storage	965	
Misc. Site Improvements	Awning Fabric, Recover - Pool Deck (2 Total)	15,302	
Misc. Site Improvements	Awning Frame, Replace - Pool Deck (2 Total)	17,108	
Furniture, Fixtures & Equipment	Fitness, Cardio, Recumbent Bike	4,357	
Furniture, Fixtures & Equipment	Furniture, Outdoor - Pool Deck	38,066	
Year 11 Total		101,084	

Year 12: 2025-26			
Roofs	Roof, Architectural Shingle - Amenity Center	31,552	
Roofs	Roof, Architectural Shingle - Shelter Dock	1,088	
Roofs	Roof, Architectural Shingle - Shelter Tennis	2,720	
Furniture, Fixtures & Equipment	Fitness, Weight Machine, Lat Pulldown/Mid Row	3,733	
Furniture, Fixtures & Equipment	Fitness, Weight Machine, Leg Extension/Leg Curl	4,784	
Furniture, Fixtures & Equipment	Fitness, Weight Machine, Multi-Press	4,680	
Year 12 Total		48,557	

Year 13: 2026-27	
No Expenses		
Year 14: 2027-28			
Paving	Asphalt Overlay, 1" Milled - Parking Lot (Amenity Center)	31,772	
Paving	Concrete Sidewalk Repair Allowance	1,469	
Mechanical & Electrical	Drinking Fountain, Indoor - Amenity Center	2,717	
Misc. Building Components	Finish, Wood Floor - Club Room	17,429	
Misc. Building Components	Deck, PT Wood - Amenity Center	8,443	
Misc. Site Improvements	Bulkhead, PT Wood - Dock	12,115	
Misc. Site Improvements	Playground Structure Replacement	44,056	
Year 14 Total		118,001	
			
Year 15: 2028-29			
Furniture, Fixtures & Equipment	Fitness, Cardio, Treadmill	28,624	
Year 15 Total		28,624	
			
Year 16: 2029-30			
Painting & Waterproofing	Paint Exterior - Amenity Center	11,287	
Misc. Building Components	Gutters & Downspouts - Amenity Center	3,797	
Misc. Site Improvements	Pool Finish, Ceramic Tile Trim	17,753	
Misc. Site Improvements	Pool Finish, Exposed Aggregate	51,728	
Misc. Site Improvements	Tennis Court Fencing, VC Chain Link	19,409	
Year 16 Total		103,974	
			
Year 17: 2030-31			
Misc. Site Improvements	Tennis Court Resurfacing, Asphalt	14,815	
Furniture, Fixtures & Equipment	Fitness, Cardio, Elliptical Cross-Trainer	18,570	
Year 17 Total		33,385	
			
Year 18: 2031-32			
Mechanical & Electrical	A/C Air Handler Unit, 5 Ton - Amenity Center	6,458	
Mechanical & Electrical	A/C Air Handler Unit, 6 Ton - Amenity Center	7,674	
Mechanical & Electrical	A/C Condensing Unit, 5 Ton - Amenity Center	6,542	

Mechanical & Electrical	A/C Condensing Unit, 6 Ton - Amenity Center	8,466	
Mechanical & Electrical	Water Heater, Electric - Amenity Center	942	
Misc. Building Components	Built-In Cabinets & Counters - Kitchen	15,800	
Misc. Building Components	Finish, Tile Floor - Club Side Kitchen	2,532	
Misc. Building Components	Finish, Tile Floor - Club Side Restrooms	2,726	
Misc. Building Components	Finish, Tile Walls - Club Side Restrooms	4,340	
Misc. Building Components	Restroom Renovation Allowance - Club Side	9,084	
Misc. Building Components	Finish, Tile Floor - Gym Side Hallway	2,397	
Misc. Building Components	Finish, Tile Floor - Gym Side Restrooms	10,937	
Misc. Building Components	Finish, Tile Walls - Gym Side Restrooms	11,420	
Misc. Building Components	Restroom Renovation Allowance - Gym Side	51,007	
Misc. Site Improvements	Dock, PT Wood Decking	6,218	
Misc. Site Improvements	Dock, PT Wood Framing & Pilings	14,737	
Misc. Site Improvements	Park, Bench, Coated Steel	8,719	
Misc. Site Improvements	Park, Picnic Table, Coated Steel	4,674	
Misc. Site Improvements	Pool Equipment, Filtration System	29,093	
Misc. Site Improvements	Pool Equipment, Handicap Lift	8,155	
Misc. Site Improvements	Signage Allowance - Amenity Center Monument	826	
Misc. Site Improvements	Signage Allowance - Main Entry Monument	13,223	
Misc. Site Improvements	Signage Allowance - Neighborhood Monument (7 Total)	5,785	
Furniture, Fixtures & Equipment	Appliance Allowance - Kitchen	5,256	
Furniture, Fixtures & Equipment	Furnishings/Decorating Allowance - Club Room	16,528	
Furniture, Fixtures & Equipment	Furnishings/Decorating Allowance - Kid's Room	4,959	
Furniture, Fixtures & Equipment	Lifeguard Chair - Pool Deck	2,149	
Year 18 Total		260,647	
			
Year 19: 2032-33			
Painting & Waterproofing	Paint Interior - Amenity Center Club Side	2,635	
Painting & Waterproofing	Paint Interior - Amenity Center Gym Side	6,016	
Misc. Building Components	Access Control, FOB Reader - Amenity Center	16,886	
Misc. Building Components	Finish, Carpet - Gym	4,179	
Misc. Building Components	Finish, Carpet - Kid's Room	2,315	
Misc. Building Components	Finish, Carpet - Office & Storage	1,222	
Misc. Site Improvements	Awning Fabric, Recover - Pool Deck (2 Total)	19,384	
Furniture, Fixtures & Equipment	Fitness, Cardio, Recumbent Bike	5,519	
Furniture, Fixtures & Equipment	Furniture, Outdoor - Pool Deck	48,221	
Year 19 Total		106,377	
			
Year 20: 2033-34			
Misc. Site Improvements	Light Pole & Fixture - Amenity Center	60,659	
Misc. Site Improvements	Fence, Alum Picket, 4.5' - Pool Deck	44,749	
Furniture, Fixtures & Equipment	Electronics, TV, Flat Screen - Gym	5,965	
Year 20 Total		111,373	

Year 21: 2034-35			
Furniture, Fixtures & Equipment	Fitness, Cardio, Treadmill	34,179	
Year 21 Total		34,179	
			
Year 22: 2035-36			
Mechanical & Electrical	Drinking Fountain, Outdoor - Amenity Center	3,442	
Year 22 Total		3,442	
			
Year 23: 2036-37			
Painting & Waterproofing	Paint Exterior - Amenity Center	13,882	
Year 23 Total		13,882	
			
Year 24: 2037-38			
Roofs	Roof, Metal Panel - Amenity Center	10,018	
Roofs	Roof, Metal Panel - Main Entry Monument	3,339	
Paving	Concrete Sidewalk Repair Allowance	1,974	
Misc. Building Components	Finish, Wood Wall Paneling - Club Room	5,927	
Misc. Building Components	Hardiboard Siding - Amenity Center	40,472	
Misc. Building Components	Patio Deck Brick Pavers - Amenity Center	31,642	
Misc. Building Components	Finish, Wood Wall Paneling - Kid's Room	3,558	
Misc. Site Improvements	Fountain, Lake, Pump/Motor - Amenity Center North	17,458	
Misc. Site Improvements	Fountain, Lake, Pump/Motor - Amenity Center South	13,478	
Misc. Site Improvements	Fountain, Lake, Pump/Motor - Neighborhood Entry	34,917	
Misc. Site Improvements	Light Fixture, Landscape Uplight - Pool Deck	3,292	
Misc. Site Improvements	Light Fixture, Landscape Uplight - Property	6,584	
Misc. Site Improvements	Plumbing Fixture, Outdoor Shower - Pool Deck	2,566	
Misc. Site Improvements	Pool Deck Brick Pavers	91,043	
Misc. Site Improvements	Fence, Vinyl, 3 Rail Split - Main Entry	40,145	
Misc. Site Improvements	Trellis, Wood - Neighborhood Entry (2 Total)	21,658	
Misc. Site Improvements	Tennis Court Resurfacing, Asphalt	18,220	
Misc. Site Improvements	Gate, PVC - Trash Enclosure	2,380	
Furniture, Fixtures & Equipment	Fitness, Cardio, Elliptical Cross-Trainer	22,838	
Year 24 Total		371,509	

Year 25: 2038-39	
No Expenses		
Year 26: 2039-40			
Misc. Building Components	Finish, Mirror Wall Panels - Gym	2,789	
Misc. Site Improvements	Light Fixture, Sign Uplight - Main Entry Monument	5,804	
Year 26 Total		8,593	

Year 27: 2040-41			
Painting & Waterproofing	Paint Interior - Amenity Center Club Side	3,338	
Painting & Waterproofing	Paint Interior - Amenity Center Gym Side	7,621	
Misc. Building Components	Access Control, FOB Reader - Amenity Center	21,391	
Misc. Building Components	Finish, Carpet - Gym	5,294	
Misc. Building Components	Finish, Carpet - Kid's Room	2,933	
Misc. Building Components	Finish, Carpet - Office & Storage	1,548	
Misc. Site Improvements	Awning Fabric, Recover - Pool Deck (2 Total)	24,555	
Misc. Site Improvements	Awning Frame, Replace - Pool Deck (2 Total)	27,453	
Furniture, Fixtures & Equipment	Fitness, Cardio, Recumbent Bike	6,992	
Furniture, Fixtures & Equipment	Fitness, Cardio, Treadmill	40,811	
Furniture, Fixtures & Equipment	Furniture, Outdoor - Pool Deck	61,085	
Year 27 Total		203,021	
			
Year 28: 2041-42			
Misc. Site Improvements	Pool Finish, Ceramic Tile Trim	25,312	
Misc. Site Improvements	Pool Finish, Exposed Aggregate	73,751	
Year 28 Total		99,063	
Year 29: 2042-43	No Expenses		
Year 30: 2043-44			
Roofs	Roof, Architectural Shingle - Amenity Center	53,716	
Roofs	Roof, Architectural Shingle - Shelter Dock	1,852	
Roofs	Roof, Architectural Shingle - Shelter Tennis	4,631	
Painting & Waterproofing	Paint Exterior - Amenity Center	17,073	
Mechanical & Electrical	A/C Air Handler Unit, 5 Ton - Amenity Center	9,207	
Mechanical & Electrical	A/C Air Handler Unit, 6 Ton - Amenity Center	10,942	
Mechanical & Electrical	A/C Condensing Unit, 5 Ton - Amenity Center	9,327	
Mechanical & Electrical	A/C Condensing Unit, 6 Ton - Amenity Center	12,070	
Mechanical & Electrical	Water Heater, Electric - Amenity Center	1,343	
Misc. Building Components	Railing, Alum Picket, 42" - Amenity Center	28,844	
Misc. Building Components	Screen Enclosure, Alum - Amenity Center	7,508	
Misc. Site Improvements	Dock, PT Wood Decking	8,865	
Misc. Site Improvements	Pool Equipment, Handicap Lift	11,627	
Misc. Site Improvements	Signage Allowance - Amenity Center Monument	1,178	
Misc. Site Improvements	Signage Allowance - Main Entry Monument	18,853	
Misc. Site Improvements	Signage Allowance - Neighborhood Monument (7 Total)	8,248	
Furniture, Fixtures & Equipment	Appliance Allowance - Kitchen	7,494	
Furniture, Fixtures & Equipment	Electronics, TV, Flat Screen - Gym	8,017	
Furniture, Fixtures & Equipment	Fitness, Weight Machine, Lat Pulldown/Mid Row	6,356	
Furniture, Fixtures & Equipment	Fitness, Weight Machine, Leg Extension/Leg Curl	8,144	
Furniture, Fixtures & Equipment	Fitness, Weight Machine, Multi-Press	7,968	
Furniture, Fixtures & Equipment	Furnishings/Decorating Allowance - Club Room	23,566	
Furniture, Fixtures & Equipment	Furnishings/Decorating Allowance - Kid's Room	7,070	
Furniture, Fixtures & Equipment	Lifeguard Chair - Pool Deck	3,064	
Year 30 Total		276,963	

Section 5

Photographs

This section of the report includes various photographs of the property and were taken during the initial field inspection.

Amenity Center

Club Room

Kid's Room

Gym

Swimming Pool

Pool Deck

Fence - Pool Deck

Awning - Pool Deck

Lighting

Lighting

Parking Lot

Trash Enclosure

Lake Fountain

Sidewalk

Playground

Tennis

Soccer Field

Shelter - Tennis

Lake Fountain

Retaining Wall - Dock

Shelter - Dock

Dock

Monument Sign - Typical

Trellis

Lake Fountain

Main Entry Monument

Main Entry Sign

Fence - Main Entry