Full Reserve Study Amelia Walk CDD No Streets

Fernandina Beach, Florida
Prepared for FY 2020 Report Date: June 4, 2020

June 4, 2020

Mr. Daniel Laughlin, District Manager Governmental Management Services 475 West Town Place, Suite 114
St. Augustine Florida 32092

Re: Reserve Study Report for Amelia Walk CDD No Streets Dear Mr. Laughlin:
Community Advisors is pleased to provide this Reserve Study report for the above referenced District. A site visit was conducted to determine the condition of your major components and provide an opinion of their remaining useful life.

We have developed a plan to fund future capital component replacements which is dependent on adequate funding, component maintenance, usage, weather and other factors. Component replacement cost is determined using local vendors and industry standard publications. This Reserve Study was prepared under the guidelines of the National Reserve Study Standards which is administrated by CAI and the Standards of Practice establish by APRA. Once you have reviewed this report and considered recent expenditures and any historic cost data, we will make necessary adjustments

Respectively submitted,

Charles R. Sheppard RS PRA CCI
Professional Reserve Analyst
10459 Hunters Creek Court Jacksonville, FL 32256
(904) 303-3275
www.communityadvisors.comm

TABLE OF CONTENTS

EXECUTIVE SUMMARY
Executive Summary 	 1-1 Current Funding Projection 	 1-2 Current Funding Projection vs Fully Funded Plan 	 1-3
FUNDING PLAN
Threshold Funded Plan 	 2-1 Recommended Funding Plan Chart 	 2-2
CASH FLOW
Income & Expense Spreadsheet 	 3-1

EXPENDITURE DETAIL
Annual Expenditure Detail 	 4-1 Asset Current Cost by Category 	 4-6
COMPONENT INVENTORY
Condition Assessment 	 5-1 Component Inventory 	 5-3 Component Detail Index 	 5-6 Component Detail 	 5-9
DISCLOSURERS & INFORMATION
Methodology & Information 	 6-1 Terms of Service 	 6-2 Definitions 	 6-3

Fernandina Beach, Florida
Executive Summary

Report Date	June 4, 2020	
Account Number	1590	
Version	1	
Budget Year Beginning	October 1, 2020	
Budget Year Ending	September 30, 2021	
Total Units	749	

Inflation	2.50%	
Annual Assessment Increase	3.00%	
Interest Rate on Reserve Deposit	2.00%	

Report Parameters

2020 Beginning Balance

$50,000

ROPERTY INFORMATION
Date of Completion: January 1, 2008
Date of site visit: April 2, 2020
Components Included: 29
Current replacement cost: $557,819
FINANCIAL INFORMATION
Level of Service: Level I Full Reserve Study
Funding Method: The Cash Flow Method
Funding Goal: Adequate funding with moderate contributions
Percent Funded Beginning of Year: 21%
Balance Required to Begin Year One Fully Funded: $233,119
Full Funding Contribution for Year One: Deficit of $183,119 + Annual Contribution of
$31,263 = $214,382 for FY 2020-2021
Current Funding Projection: Contribution: $100,000 for year one with annual increases of 3%.
Projection on page 1-2.
Recommend Funding Contribution: $39,158 for year one provides adequate funding with lower contributions in subsequent years. Projection found on page 1-4.

Threshold Funding Model Summary of Calculations

Required Annual Contribution
$52.28 per unit annually Average Net Annual Interest Earned Total Annual Allocation to Reserves
$54.25 per unit annually

$39,157.92

 $1,475.16
$40,633.07

Current Funding Projection

Beginning Balance: $50,000

Year	
Current Cost	
Annual Contribution	
Annual Interest	
Annual Expenditures	Projected Ending
Reserves	Fully Funded
Reserves	
Percent Funded	

20-21	
557,819	
100,000	
4,038	
15,400	
138,638	
250,777	
55%	
21-22	571,765	103,000	7,249		248,887	285,351	87%	
22-23	586,059	106,090	10,431	7,270	358,138	314,045	114%	
23-24	600,710	109,273	13,697	10,854	470,254	341,403	138%	
24-25	615,728	112,551	17,484		600,289	381,335	157%	
25-26	631,121	115,927	21,486		737,703	423,051	174%	
26-27	646,899	119,405	25,428	9,509	873,026	456,867	191%	
27-28	663,072	122,987	25,617	142,119	879,511	357,241	246%	
28-29	679,649	126,677	30,186		1,036,374	401,661	258%	
29-30	696,640	130,477	35,006		1,201,857	448,080	268%	
30-31	714,056	134,392	37,232	95,178	1,278,303	399,010	320%	
31-32	731,907	138,423	42,502		1,459,228	447,204	326%	
32-33	750,205	142,576	46,334	57,346	1,590,792	438,778	363%	
33-34	768,960	146,853	51,457	22,404	1,766,699	466,937	378%	
34-35	788,184	151,259	57,191	11,586	1,963,562	507,892	387%	
35-36	807,889	155,797	62,775	26,857	2,155,277	535,246	403%	
36-37	828,086	160,471	69,472		2,385,220	591,868	403%	
37-38	848,788	165,285	71,103	180,396	2,441,212	466,080	524%	
38-39	870,008	170,243	76,346	66,597	2,621,204	454,900	576%	
39-40	891,758	175,351	83,897		2,880,451	512,837	562%	
40-41	914,052	180,611	91,832		3,152,894	573,388	550%	
41-42	936,903	186,029	100,168		3,439,091	636,645	540%	
42-43	960,326	191,610	97,971	365,004	3,363,668	328,578	1024%	
43-44	984,334	197,359	105,881	31,675	3,635,232	355,725	1022%	
44-45	1,008,942	203,279	113,773	46,084	3,906,201	370,067	1056%	
45-46	1,034,166	209,378	123,467		4,239,046	433,320	978%	
46-47	1,060,020	215,659	133,641		4,588,346	499,504	919%	
47-48	1,086,521	222,129	139,665	154,967	4,795,173	409,886	1170%	
48-49	1,113,684	228,793	149,171	51,613	5,121,523	425,383	1204%	
49-50	1,141,526	235,657	160,715		5,517,895	495,626	1113%	

This chart illustrates the current funding plan performance.

Amelia Walk CDD No Streets Threshold Funded Plan

Beginning Balance: $50,000

Year	
Current Cost	
Annual Contribution	
Annual Interest	
Annual Expenditures	Projected Ending
Reserves	Fully Funded
Reserves	
Percent Funded	

20-21	
557,819	
39,158	
1,475	
15,400	
75,233	
250,777	
30%	
21-22	571,765	30,034	2,105		107,373	285,351	38%	
22-23	586,059	30,935	2,621	7,270	133,658	314,045	43%	
23-24	600,710	31,863	3,093	10,854	157,761	341,403	46%	
24-25	615,728	32,819	3,812		194,392	381,335	51%	
25-26	631,121	33,804	4,564		232,759	423,051	55%	
26-27	646,899	34,818	5,161	9,509	263,229	456,867	58%	
27-28	663,072	35,862	3,139	142,119	160,111	357,241	45%	
28-29	679,649	36,938	3,941		200,990	401,661	50%	
29-30	696,640	38,046	4,781		243,817	448,080	54%	
30-31	714,056	39,188	3,757	95,178	191,584	399,010	48%	
31-32	731,907	40,363	4,639		236,586	447,204	53%	
32-33	750,205	41,574	4,416	57,346	225,231	438,778	51%	
33-34	768,960	42,821	4,913	22,404	250,561	466,937	54%	
34-35	788,184	44,106	5,662	11,586	288,743	507,892	57%	
35-36	807,889	45,429	6,146	26,857	313,461	535,246	59%	
36-37	828,086	46,792	7,205		367,458	591,868	62%	
37-38	848,788	48,196	4,705	180,396	239,963	466,080	51%	
38-39	870,008	49,642	4,460	66,597	227,468	454,900	50%	
39-40	891,758	51,131	5,572		284,171	512,837	55%	
40-41	914,052	52,665	6,737		343,573	573,388	60%	
41-42	936,903	54,245	7,956		405,774	636,645	64%	
42-43	960,326	55,872	1,933	365,004	98,575	328,578	30%	
43-44	984,334	57,548	2,489	31,675	126,938	355,725	36%	
44-45	1,008,942	59,275	2,803	46,084	142,931	370,067	39%	
45-46	1,034,166	61,053	4,080		208,064	433,320	48%	
46-47	1,060,020	62,885	5,419		276,368	499,504	55%	
47-48	1,086,521	64,771	3,723	154,967	189,895	409,886	46%	
48-49	1,113,684	66,714	4,100	51,613	209,096	425,383	49%	
49-50	1,141,526	68,716	5,556		283,368	495,626	57%	

This chart shows the recommended funding plan annual balances, annual expenditures and assessments.

	20-21	21-22	22-23	23-24	24-25	25-26	26-27	27-28	28-29	29-30	
Beginning Balance	50,000	75,233	107,373	133,658	157,761	194,392	232,759	263,229	160,111	200,990	
Annual Assessment	39,158	30,034	30,935	31,863	32,819	33,804	34,818	35,862	36,938	38,046	
Interest Earned	1,475	2,105	2,621	3,093	3,812	4,564	5,161	3,139	3,941	4,781	
Expenditures	15,400		7,270	10,854			9,509	142,119			
Fully Funded Reserves	250,777	285,351	314,045	341,403	381,335	423,051	456,867	357,241	401,661	448,080	
Percent Fully Funded	30%	38%	43%	46%	51%	55%	58%	45%	50%	54%	
Ending Balance	75,233	107,373	133,658	157,761	194,392	232,759	263,229	160,111	200,990	243,817	

Description
Misc. Site Components											
Street Signs/Poles											
Wood Bulkhead - Retention Pond											
Wood Pergola Entry Feature Repair/Replace											
Wood Pilings 50%/Stringers/Deck - Pier											
Misc. Site Components Total:											
Fencing & Gates											
Aluminum Fence - Pool											
Aluminum Railing - Rear Patio/Ramp											
Chain Link Coated Fence 10 Ft - Tennis Courts											
Vinyl Ranch Fence - Entry											
Fencing & Gates Total:											
Site Lighting											
Decorative Light Poles - Pool											
Decorative Light Poles - Site											
Wall Laterns - Entry Feature											
Site Lighting Total:											
Misc. Building Components											
Restroom Refurbish Allowance - Club Room								17,117			
Restroom Refurbish Allowance - Pool/Fitness								41,010			
Wood Cabinets/Stone Top - Kitchen											
Wood Decking - Covered Porch											
Misc. Building Components Total:								58,127			

Description

20-21	21-22	22-23	23-24	24-25	25-26	26-27	27-28	28-29	29-30

Roofing		
Asphalt Shingles (Arch) - Clubhouse
Standing Seam Metal Panels - Clubhouse					36,445	
Roofing Total:					36,445	
Exterior Painting						
Clubhouse				9,509		
Exterior Painting Total:				9,509		
Furniture Fixtures & Equipment						
Furniture Allowance - Club Room
Furniture Allowance - Patio/Deck						
Furniture Allowance - Pool Deck
Shade Structure Fabric		
7,270				
Furniture Fixtures & Equipment Total:		7,270				
HVAC						
Heat Pump 5 Ton	7,000					
Heat Pump 6 Ton	8,400					
HVAC Total:	15,400					
Swimming Pool						
Concrete Pavers/Pool Deck/Patio
Filtration Refurbishment Allowance						
Pool Resurfacing/Tile						
Swimming Pool Total:						
Tennis Courts						
Asphalt Resurfacing (Color Coat)			10,854			
Tennis Courts Total:			10,854			
Playground						
Play Equipment Allowance					47,547	
Playground Total:					47,547	

20-21	21-22	22-23	23-24	24-25	25-26	26-27	27-28	28-29	29-30
Description

Access Controller/Devices - Amenity Aluminum Gutters/DS - Clubhouse

Unfunded Unfunded

Components Not Included
Asphalt Seal Coat - Parking Lot	Unfunded

Asphalt Shingles (Arch) - Tennis Pavilion Backstop - Tennis Courts

Unfunded Unfunded

Asphalt Shingles (Arch) - Pier Pavilion	Unfunded
Brick Wall Cleaning/Repair/Replace	Unfunded

Catch Basin Repair
Concrete Curb/Walk Allowance - Parking Lot

Unfunded Unfunded

Carpet - Office/Storage	Unfunded
Concrete Pavers Majestic Walk Blvd.	Unfunded

Entry Feature
Fitness Equipment (Partial Replacement)

Unfunded Unfunded

Drainage Structures/Pipe	Unfunded
Fitness Equipment Allowance (Full Replacemen..	Unfunded

Ground Light Allowance Interior Painting

Unfunded Unfunded

Floor Tile - Kitchen	Unfunded
Irrigation System	Unfunded

Mail Box Pedestals
Metal Benches - Playground

Unfunded Unfunded

Landscaping	Unfunded
Metal Benches - Tennis	Unfunded

Metal Picnic Tables - Tennis Pavilion Plastic Play Surface Border

Unfunded Unfunded

Metal Picnic Tables - Playground	Unfunded
Plumbing Piping In Building	Unfunded

Pool Lift Pool Shell

Unfunded Unfunded

Pond Fountain Allowance ( 4 year cycle)	Unfunded
Post Swing Single Bay	Unfunded
Refrigerator	Unfunded

20-21	21-22	22-23	23-24	24-25	25-26	26-27	27-28	28-29	29-30
Description

Refurbishment Allowance - Sign Monuments Rubber Flooring - Fitness Center

Unfunded Unfunded

Components Not Included continued...
Shade Structure Frame	Unfunded

Street Resurfacing
Tennis Court Replacement

Unfunded Unfunded

Standing Seam Metal Panels - Entry Feature	Unfunded
Utility Lines to Building	Unfunded

Vinyl Gates - Dumpster Wall Mirrors

Unfunded Unfunded

Vinyl Ceiling - Tennis Pavilion	Unfunded
Wall Over/Microwave	Unfunded

Water Heater Wiring In Building

Unfunded Unfunded

Water Coolers	Unfunded
Wood Flooring Refinish - Club Room	Unfunded
Wood Siding/Brick - Clubhouse	Unfunded

Year Total:	15,400	7,270	10,854	9,509	142,119

	30-31	31-32	32-33	33-34	34-35	35-36	36-37	37-38	38-39	39-40	
Beginning Balance	243,817	191,584	236,586	225,231	250,561	288,743	313,461	367,458	239,963	227,468	
Annual Assessment	39,188	40,363	41,574	42,821	44,106	45,429	46,792	48,196	49,642	51,131	
Interest Earned	3,757	4,639	4,416	4,913	5,662	6,146	7,205	4,705	4,460	5,572	
Expenditures	95,178		57,346	22,404	11,586	26,857		180,396	66,597		
Fully Funded Reserves	399,010	447,204	438,778	466,937	507,892	535,246	591,868	466,080	454,900	512,837	
Percent Fully Funded	48%	53%	51%	54%	57%	59%	62%	51%	50%	55%	
Ending Balance	191,584	236,586	225,231	250,561	288,743	313,461	367,458	239,963	227,468	284,171	

Description
Misc. Site Components											
Street Signs/Poles								25,563			
Wood Bulkhead - Retention Pond								9,434			
Wood Pergola Entry Feature Repair/Replace			18,290								
Wood Pilings 50%/Stringers/Deck - Pier				13,443							
Misc. Site Components Total:			18,290	13,443				34,997			
Fencing & Gates											
Aluminum Fence - Pool						26,857					
Aluminum Railing - Rear Patio/Ramp									12,009		
Chain Link Coated Fence 10 Ft - Tennis Courts			18,344								
Vinyl Ranch Fence - Entry								29,240			
Fencing & Gates Total:			18,344			26,857		29,240	12,009		
Site Lighting											
Decorative Light Poles - Pool								21,911			
Decorative Light Poles - Site								49,300			
Wall Laterns - Entry Feature								10,043			
Site Lighting Total:								81,254			
Misc. Building Components											
Restroom Refurbish Allowance - Club Room											
Restroom Refurbish Allowance - Pool/Fitness											
Wood Cabinets/Stone Top - Kitchen											
Wood Decking - Covered Porch											
Misc. Building Components Total:											

Description

30-31	31-32	32-33	33-34	34-35	35-36	36-37	37-38	38-39	39-40

Roofing		
Asphalt Shingles (Arch) - Clubhouse
Standing Seam Metal Panels - Clubhouse					
9,038		
Roofing Total:					9,038		
Exterior Painting							
Clubhouse				11,586			
Exterior Painting Total:				11,586			
Furniture Fixtures & Equipment							
Furniture Allowance - Club Room
Furniture Allowance - Patio/Deck			
8,960				
Furniture Allowance - Pool Deck
Shade Structure Fabric					
10,530	54,588	
Furniture Fixtures & Equipment Total:			8,960		10,530	54,588	
HVAC							
Heat Pump 5 Ton		9,414					
Heat Pump 6 Ton		11,297					
HVAC Total:		20,711					
Swimming Pool							
Concrete Pavers/Pool Deck/Patio
Filtration Refurbishment Allowance							
Pool Resurfacing/Tile	82,276						
Swimming Pool Total:	82,276						
Tennis Courts							
Asphalt Resurfacing (Color Coat)	12,902				15,336		
Tennis Courts Total:	12,902				15,336		
Playground							
Play Equipment Allowance							
Playground Total:							

30-31	31-32	32-33	33-34	34-35	35-36	36-37	37-38	38-39	39-40
Description

Access Controller/Devices - Amenity Aluminum Gutters/DS - Clubhouse

Unfunded Unfunded

Components Not Included
Asphalt Seal Coat - Parking Lot	Unfunded

Asphalt Shingles (Arch) - Tennis Pavilion Backstop - Tennis Courts

Unfunded Unfunded

Asphalt Shingles (Arch) - Pier Pavilion	Unfunded
Brick Wall Cleaning/Repair/Replace	Unfunded

Catch Basin Repair
Concrete Curb/Walk Allowance - Parking Lot

Unfunded Unfunded

Carpet - Office/Storage	Unfunded
Concrete Pavers Majestic Walk Blvd.	Unfunded

Entry Feature
Fitness Equipment (Partial Replacement)

Unfunded Unfunded

Drainage Structures/Pipe	Unfunded
Fitness Equipment Allowance (Full Replacemen..	Unfunded

Ground Light Allowance Interior Painting

Unfunded Unfunded

Floor Tile - Kitchen	Unfunded
Irrigation System	Unfunded

Mail Box Pedestals
Metal Benches - Playground

Unfunded Unfunded

Landscaping	Unfunded
Metal Benches - Tennis	Unfunded

Metal Picnic Tables - Tennis Pavilion Plastic Play Surface Border

Unfunded Unfunded

Metal Picnic Tables - Playground	Unfunded
Plumbing Piping In Building	Unfunded

Pool Lift Pool Shell

Unfunded Unfunded

Pond Fountain Allowance ( 4 year cycle)	Unfunded
Post Swing Single Bay	Unfunded
Refrigerator	Unfunded

30-31	31-32	32-33	33-34	34-35	35-36	36-37	37-38	38-39	39-40
Description

Refurbishment Allowance - Sign Monuments Rubber Flooring - Fitness Center

Unfunded Unfunded

Components Not Included continued...
Shade Structure Frame	Unfunded

Street Resurfacing
Tennis Court Replacement

Unfunded Unfunded

Standing Seam Metal Panels - Entry Feature	Unfunded
Utility Lines to Building	Unfunded

Vinyl Gates - Dumpster Wall Mirrors

Unfunded Unfunded

Vinyl Ceiling - Tennis Pavilion	Unfunded
Wall Over/Microwave	Unfunded

Water Heater Wiring In Building

Unfunded Unfunded

Water Coolers	Unfunded
Wood Flooring Refinish - Club Room	Unfunded
Wood Siding/Brick - Clubhouse	Unfunded

Year Total:	95,178	57,346	22,404	11,586	26,857	180,396	66,597

	40-41	41-42	42-43	43-44	44-45	45-46	46-47	47-48	48-49	49-50	
Beginning Balance	284,171	343,573	405,774	98,575	126,938	142,931	208,064	276,368	189,895	209,096	
Annual Assessment	52,665	54,245	55,872	57,548	59,275	61,053	62,885	64,771	66,714	68,716	
Interest Earned	6,737	7,956	1,933	2,489	2,803	4,080	5,419	3,723	4,100	5,556	
Expenditures			365,004	31,675	46,084			154,967	51,613		
Fully Funded Reserves	573,388	636,645	328,578	355,725	370,067	433,320	499,504	409,886	425,383	495,626	
Percent Fully Funded	60%	64%	30%	36%	39%	48%	55%	46%	49%	57%	
Ending Balance	343,573	405,774	98,575	126,938	142,931	208,064	276,368	189,895	209,096	283,368	

Description
Misc. Site Components											
Street Signs/Poles											
Wood Bulkhead - Retention Pond											
Wood Pergola Entry Feature Repair/Replace											
Wood Pilings 50%/Stringers/Deck - Pier									19,470		
Misc. Site Components Total:									19,470		
Fencing & Gates											
Aluminum Fence - Pool											
Aluminum Railing - Rear Patio/Ramp											
Chain Link Coated Fence 10 Ft - Tennis Courts											
Vinyl Ranch Fence - Entry											
Fencing & Gates Total:											
Site Lighting											
Decorative Light Poles - Pool											
Decorative Light Poles - Site											
Wall Laterns - Entry Feature											
Site Lighting Total:											
Misc. Building Components											
Restroom Refurbish Allowance - Club Room								28,048			
Restroom Refurbish Allowance - Pool/Fitness								67,199			
Wood Cabinets/Stone Top - Kitchen				16,676							
Wood Decking - Covered Porch									19,166		
Misc. Building Components Total:				16,676				95,247	19,166		

Description

40-41	41-42	42-43	43-44	44-45	45-46	46-47	47-48	48-49	49-50

Roofing		
Asphalt Shingles (Arch) - Clubhouse
Standing Seam Metal Panels - Clubhouse				59,720		
Roofing Total:				59,720		
Exterior Painting						
Clubhouse	14,117					
Exterior Painting Total:	14,117					
Furniture Fixtures & Equipment						
Furniture Allowance - Club Room
Furniture Allowance - Patio/Deck		14,999			
12,977	
Furniture Allowance - Pool Deck
Shade Structure Fabric						
Furniture Fixtures & Equipment Total:		14,999			12,977	
HVAC						
Heat Pump 5 Ton			12,661			
Heat Pump 6 Ton			15,193			
HVAC Total:			27,854			
Swimming Pool						
Concrete Pavers/Pool Deck/Patio	130,054					
Filtration Refurbishment Allowance	41,318					
Pool Resurfacing/Tile	110,652					
Swimming Pool Total:	282,024					
Tennis Courts						
Asphalt Resurfacing (Color Coat)			18,230			
Tennis Courts Total:			18,230			
Playground						
Play Equipment Allowance	68,863					
Playground Total:	68,863					

40-41	41-42	42-43	43-44	44-45	45-46	46-47	47-48	48-49	49-50
Description

Access Controller/Devices - Amenity Aluminum Gutters/DS - Clubhouse

Unfunded Unfunded

Components Not Included
Asphalt Seal Coat - Parking Lot	Unfunded

Asphalt Shingles (Arch) - Tennis Pavilion Backstop - Tennis Courts

Unfunded Unfunded

Asphalt Shingles (Arch) - Pier Pavilion	Unfunded
Brick Wall Cleaning/Repair/Replace	Unfunded

Catch Basin Repair
Concrete Curb/Walk Allowance - Parking Lot

Unfunded Unfunded

Carpet - Office/Storage	Unfunded
Concrete Pavers Majestic Walk Blvd.	Unfunded

Entry Feature
Fitness Equipment (Partial Replacement)

Unfunded Unfunded

Drainage Structures/Pipe	Unfunded
Fitness Equipment Allowance (Full Replacemen..	Unfunded

Ground Light Allowance Interior Painting

Unfunded Unfunded

Floor Tile - Kitchen	Unfunded
Irrigation System	Unfunded

Mail Box Pedestals
Metal Benches - Playground

Unfunded Unfunded

Landscaping	Unfunded
Metal Benches - Tennis	Unfunded

Metal Picnic Tables - Tennis Pavilion Plastic Play Surface Border

Unfunded Unfunded

Metal Picnic Tables - Playground	Unfunded
Plumbing Piping In Building	Unfunded

Pool Lift Pool Shell

Unfunded Unfunded

Pond Fountain Allowance ( 4 year cycle)	Unfunded
Post Swing Single Bay	Unfunded
Refrigerator	Unfunded

40-41	41-42	42-43	43-44	44-45	45-46	46-47	47-48	48-49	49-50
Description

Refurbishment Allowance - Sign Monuments Rubber Flooring - Fitness Center

Unfunded Unfunded

Components Not Included continued...
Shade Structure Frame	Unfunded

Street Resurfacing
Tennis Court Replacement

Unfunded Unfunded

Standing Seam Metal Panels - Entry Feature	Unfunded
Utility Lines to Building	Unfunded

Vinyl Gates - Dumpster Wall Mirrors

Unfunded Unfunded

Vinyl Ceiling - Tennis Pavilion	Unfunded
Wall Over/Microwave	Unfunded

Water Heater Wiring In Building

Unfunded Unfunded

Water Coolers	Unfunded
Wood Flooring Refinish - Club Room	Unfunded
Wood Siding/Brick - Clubhouse	Unfunded

Year Total:	365,004	31,675	46,084	154,967	51,613

Description	Expenditures	
Replacement Year 20-21		
HVAC
Heat Pump 5 Ton	
7,000	
Heat Pump 6 Ton	8,400	
Total for 2020 - 2021	
$15,400	
No Replacement in 21-22		
Replacement Year 22-23		
Furniture Fixtures & Equipment
Shade Structure Fabric	
7,270	
Total for 2022 - 2023	
$7,270	
Replacement Year 23-24		
Tennis Courts
Asphalt Resurfacing (Color Coat)	
10,854	
Total for 2023 - 2024	
$10,854	
No Replacement in 24-25		
No Replacement in 25-26		
Replacement Year 26-27		
Exterior Painting
Clubhouse	
9,509	
Total for 2026 - 2027	
$9,509	
Replacement Year 27-28		
Misc. Building Components
Restroom Refurbish Allowance - Club Room	
17,117	
Restroom Refurbish Allowance - Pool/Fitness	41,010	
Roofing
Asphalt Shingles (Arch) - Clubhouse	36,445
Playground
Play Equipment Allowance	47,547
Total for 2027 - 2028	$142,119

Description	Expenditures

No Replacement in 28-29 No Replacement in 29-30

Replacement Year 30-31 Swimming Pool
Pool Resurfacing/Tile	82,276
Tennis Courts
Asphalt Resurfacing (Color Coat)	12,902	
Total for 2030 - 2031	$95,178	
No Replacement in 31-32		
Replacement Year 32-33		
Misc. Site Components
Wood Pergola Entry Feature Repair/Replace	
18,290	
Fencing & Gates
Chain Link Coated Fence 10 Ft - Tennis Courts	18,344
HVAC
Heat Pump 5 Ton	9,414	
Heat Pump 6 Ton	11,297	
Total for 2032 - 2033	$57,346	
Replacement Year 33-34		
Misc. Site Components		
Wood Pilings 50%/Stringers/Deck - Pier	13,443	
Furniture Fixtures & Equipment
Furniture Allowance - Patio/Deck	
8,960	
Total for 2033 - 2034	$22,404	
Replacement Year 34-35		
Exterior Painting		
Clubhouse	11,586	
Total for 2034 - 2035	$11,586	

Description	Expenditures	
Replacement Year 35-36		
Fencing & Gates
Aluminum Fence - Pool	
26,857	
Total for 2035 - 2036	
$26,857	
No Replacement in 36-37		
Replacement Year 37-38		
Misc. Site Components
Street Signs/Poles	
25,563	
Wood Bulkhead - Retention Pond	9,434	
Fencing & Gates
Vinyl Ranch Fence - Entry	29,240
Site Lighting
Decorative Light Poles - Pool	21,911
Decorative Light Poles - Site	49,300
Wall Laterns - Entry Feature	10,043
Roofing
Standing Seam Metal Panels - Clubhouse	9,038
Furniture Fixtures & Equipment
Shade Structure Fabric	10,530
Tennis Courts
Asphalt Resurfacing (Color Coat)	15,336	
Total for 2037 - 2038	$180,396	
Replacement Year 38-39		
Fencing & Gates		
Aluminum Railing - Rear Patio/Ramp	12,009	
Furniture Fixtures & Equipment		
Furniture Allowance - Pool Deck	54,588	
Total for 2038 - 2039	$66,597	
No Replacement in 39-40		
No Replacement in 40-41		

Description	Expenditures	
No Replacement in 41-42		
Replacement Year 42-43		
Exterior Painting		
Clubhouse	14,117	
Swimming Pool		
Concrete Pavers/Pool Deck/Patio	130,054	
Filtration Refurbishment Allowance	41,318	
Pool Resurfacing/Tile	110,652	
Playground		
Play Equipment Allowance	68,863	
Total for 2042 - 2043	$365,004	
Replacement Year 43-44		
Misc. Building Components		
Wood Cabinets/Stone Top - Kitchen	16,676	
Furniture Fixtures & Equipment			
Furniture Allowance - Club Room	14,999	
Total for 2043 - 2044	$31,675	
Replacement Year 44-45		
HVAC		
Heat Pump 5 Ton	12,661	
Heat Pump 6 Ton	15,193	
Tennis Courts
Asphalt Resurfacing (Color Coat)	
18,230	
Total for 2044 - 2045	$46,084	
No Replacement in 45-46		
No Replacement in 46-47		
Replacement Year 47-48		
Misc. Building Components		
Restroom Refurbish Allowance - Club Room	28,048	

Description	Expenditures

Replacement Year 47-48 continued...
Restroom Refurbish Allowance - Pool/Fitness	67,199

Roofing		
Asphalt Shingles (Arch) - Clubhouse	59,720	
Total for 2047 - 2048	$154,967	
Replacement Year 48-49		
Misc. Site Components		
Wood Pilings 50%/Stringers/Deck - Pier	19,470	
Misc. Building Components		
Wood Decking - Covered Porch	19,166	
Furniture Fixtures & Equipment		
Furniture Allowance - Patio/Deck	12,977	
Total for 2048 - 2049	$51,613	
No Replacement in 49-50		

Misc. Site Components

Component Condition Assessment

Street signs and poles should be cleaned and painted upon inspection.
Wood bulkhead and pier appear good condition from visual inspection of above waterline areas.
Fencing & Gates
Fencing, gates, railings appear in good condition.
Tennis court fencing requires some immediate cleaning and repair.
Site Lighting
District has variety of site lighting that appears in good condition. Site visit was conducted during daytime hours, so performance of lights is unknown.
Misc. Building Components
Restroom refurbishment allowance is included to allow flexibility for material selection determined at the time of replacement.
Wood cabinets and top are like new.
Wood decking at covered porch is like new.
Roofing
Asphalt shingles have been installed on the new section of the clubhouse and do not match the existing. At the time of replacement of the original roof this area is included. Shingle areas should be inspected annually, and repairs completed.
Metal roofing appears in good condition and should be inspected annually, and repairs completed.
Exterior Painting
Exterior walls should be properly prepared prior to painting with all material joints sealed, window and door connections to siding sealed.
FF&E
Furniture allowances for interior and exterior spaces in included.
Shade structures at pool should not need replacement with regular repair. Immediate repair and painting are needed.
Shade fabric is near end of its useful life.

HVAC
Clubhouse has two heat pumps that we assume are original equipment. Generally, this component has a 12-year life. Annual inspection and cleaning of units is recommended.
Swimming Pool
Concrete pool deck pavers appear structurally sound, but we find over time the aggregate begins to appear due to wear and do not provide the level of quality the District will expect.
An allowance for major filtration refurbishment is included for pumps, motors and other equipment.
Pool was resurfaced in 2019 and in good condition.
Tennis Court
Tennis court resurfacing is included on a 7-year cycle.
Playground
Play equipment and swings appear in good condition. An inspection is recommended annually with needed repairs completed.

Description		
Misc. Site Components
Street Signs/Poles	
07-08	
37-38	
30	
0	
17	
14 Each	
1,200.00	
16,800	
Wood Bulkhead - Retention Pond	07-08	37-38	30	0	17	40 Linear Feet	155.00	6,200	
Wood Pergola Entry Feature Repair/Replace	07-08	32-33	25	0	12	2 Each	6,800.00	13,600	
Wood Pilings 50%/Stringers/Deck - Pier	18-19	33-34	15	0	13	106 Square Feet	92.00	  9,752	
Misc. Site Components - Total								$46,352	
Fencing & Gates
Aluminum Fence - Pool	
10-11	
35-36	
25	
0	
15	
488 Linear Feet	
38.00	
18,544	
Aluminum Railing - Rear Patio/Ramp	10-11	38-39	28	0	18	140 Linear Feet	55.00	7,700	
Chain Link Coated Fence 10 Ft - Tennis C..	07-08	32-33	25	0	12	440 Linear Feet	31.00	13,640	
Vinyl Ranch Fence - Entry	07-08	37-38	30	0	17	778 Linear Feet	24.70	 19,217	
Fencing & Gates - Total								$59,101	
Site Lighting
Decorative Light Poles - Pool	
07-08	
37-38	
30	
0	
17	
4 Each	
3,600.00	
14,400	
Decorative Light Poles - Site	07-08	37-38	30	0	17	9 Each	3,600.00	32,400	
Wall Laterns - Entry Feature	07-08	37-38	30	0	17	3 Each	2,200.00	  6,600	
Site Lighting - Total								$53,400	
Misc. Building Components
Restroom Refurbish Allowance - Club Roo..	
07-08	
27-28	
20	
0	
7	
200 Square Feet	
72.00	
14,400	
Restroom Refurbish Allowance - Pool/Fitn..	07-08	27-28	20	0	7	460 Square Feet	75.00	34,500	
Wood Cabinets/Stone Top - Kitchen	18-19	43-44	25	0	23	21 Linear Feet	450.00	9,450	
Wood Decking - Covered Porch	18-19	48-49	30	0	28	800 Square Feet	12.00	  9,600	
Misc. Building Components - Total								$67,950	
Roofing
Asphalt Shingles (Arch) - Clubhouse	
07-08	
27-28	
20	
0	
7	
73 Squares	
420.00	
30,660	
Standing Seam Metal Panels - Clubhouse	07-08	37-38	30	0	17	540 Square Feet	11.00	  5,940	
Roofing - Total								$36,600	
Exterior Painting
Clubhouse	
18-19	
26-27	
8	
0	
6	
1 Lump Sum	
8,200.00	
 8,200	
Exterior Painting - Total								$8,200	
Furniture Fixtures & Equipment
Furniture Allowance - Club Room	
18-19	
43-44	
25	
0	
23	
1 Lump Sum	
8,500.00	
8,500	
Furniture Allowance - Patio/Deck	18-19	33-34	15	0	13	1 Lump Sum	6,500.00	6,500	
Furniture Allowance - Pool Deck	18-19	38-39	20	0	18	1 Lump Sum	35,000.00	35,000	
Shade Structure Fabric	07-08	22-23	15	0	2	2 Each	3,460.00	  6,920	
Furniture Fixtures & Equipment - Total								$56,920	

Description									
HVAC
Heat Pump 5 Ton	
07-08	
20-21	
12	
0	
0	
1 Each	
7,000.00	
7,000	
Heat Pump 6 Ton	07-08	20-21	12	0	0	1 Each	8,400.00	  8,400	
HVAC - Total								$15,400	
Swimming Pool
Concrete Pavers/Pool Deck/Patio	
07-08	
42-43	
35	
0	
22	
9,443 Square Feet	
8.00	
75,544	
Filtration Refurbishment Allowance	07-08	42-43	35	0	22	1 Lump Sum	24,000.00	24,000	
Pool Resurfacing/Tile	18-19	30-31	12	0	10	4,591 Square Feet	14.00	  64,274	
Swimming Pool - Total								$163,818	
Tennis Courts
Asphalt Resurfacing (Color Coat)	
07-08	
23-24	
7	
9	
3	
1,362 Square Yards	
7.40	
 10,079	
Tennis Courts - Total								$10,079	
Playground
Play Equipment Allowance	
07-08	
27-28	
15	
5	
7	
1 Lump Sum	
40,000.00	
 40,000	
Playground - Total								$40,000	

Components Not Included
Access Controller/Devices - Amenity	Unfunded
Aluminum Gutters/DS - Clubhouse	Unfunded
Asphalt Seal Coat - Parking Lot	Unfunded Asphalt Shingles (Arch) - Pier Pavilion	Unfunded Asphalt Shingles (Arch) - Tennis Pavilion	Unfunded Backstop - Tennis Courts	Unfunded
Brick Wall Cleaning/Repair/Replace	Unfunded
Carpet - Office/Storage	Unfunded
Catch Basin Repair	Unfunded
Concrete Curb/Walk Allowance - Parking ..	Unfunded
Concrete Pavers Majestic Walk Blvd.	Unfunded
Drainage Structures/Pipe	Unfunded
Entry Feature	Unfunded
Fitness Equipment (Partial Replacement)	Unfunded Fitness Equipment Allowance (Full Replac..  Unfunded Floor Tile - Kitchen	Unfunded
Ground Light Allowance	Unfunded
Interior Painting	Unfunded
Irrigation System	Unfunded
Landscaping	Unfunded
Mail Box Pedestals	Unfunded
Metal Benches - Playground	Unfunded
Metal Benches - Tennis	Unfunded
Metal Picnic Tables - Playground	Unfunded
Metal Picnic Tables - Tennis Pavilion	Unfunded

Description
Components Not Included continued...
Plastic Play Surface Border	Unfunded
Plumbing Piping In Building	Unfunded Pond Fountain Allowance ( 4 year cycle)	Unfunded Pool Lift	Unfunded
Pool Shell	Unfunded
Post Swing Single Bay	Unfunded
Refrigerator	Unfunded
Refurbishment Allowance - Sign Monume..	Unfunded
Rubber Flooring - Fitness Center	Unfunded
Shade Structure Frame	Unfunded Standing Seam Metal Panels - Entry Featu..	Unfunded Street Resurfacing	Unfunded
Tennis Court Replacement	Unfunded
Utility Lines to Building	Unfunded
Vinyl Ceiling - Tennis Pavilion	Unfunded
Vinyl Gates - Dumpster	Unfunded
Wall Mirrors	Unfunded
Wall Over/Microwave	Unfunded
Water Coolers	Unfunded
Water Heater	Unfunded
Wiring In Building	Unfunded
Wood Flooring Refinish - Club Room	Unfunded
Wood Siding/Brick - Clubhouse	Unfunded
Components Not Included - Total

Total Asset Summary	$557,819

Asset IDDescription	Replacement	Page

Misc. Site Components
1064	Street Signs/Poles	37-38	5-9	
1044	Wood Bulkhead - Retention Pond	37-38	5-9	
1067	Wood Pergola Entry Feature Repair/Replace	32-33	5-10	
1043	Wood Pilings 50%/Stringers/Deck - Pier	33-34	5-10	

Fencing & Gates	
1026	Aluminum Fence - Pool	35-36	5-11	
1034	Aluminum Railing - Rear Patio/Ramp	38-39	5-11	
1060	Chain Link Coated Fence 10 Ft - Tennis Courts	32-33	5-12	
1053	Vinyl Ranch Fence - Entry	37-38	5-12	

Site Lighting	
1035	Decorative Light Poles - Pool	37-38	5-13	
1046	Decorative Light Poles - Site	37-38	5-13	
1066	Wall Laterns - Entry Feature	37-38	5-14	

Misc. Building Components	
1014	Restroom Refurbish Allowance - Club Room	27-28	5-15	
1015	Restroom Refurbish Allowance - Pool/Fitness	27-28	5-15	
1016	Wood Cabinets/Stone Top - Kitchen	43-44	5-16	
1017	Wood Decking - Covered Porch	48-49	5-16	
Roofing				
1003	Asphalt Shingles (Arch) - Clubhouse	27-28	5-17	
1004	Standing Seam Metal Panels - Clubhouse	37-38	5-17	

Exterior Painting	
1006	Clubhouse	26-27	5-18	

Furniture Fixtures & Equipment	
1022	Furniture Allowance - Club Room	43-44	5-19	
1028	Furniture Allowance - Patio/Deck	33-34	5-19	
1040	Furniture Allowance - Pool Deck	38-39	5-20	
1038	Shade Structure Fabric	22-23	5-20	
HVAC				
1010	Heat Pump 5 Ton	20-21	5-21	

Asset IDDescription	Replacement	Page

HVAC Continued...
1009	Heat Pump 6 Ton	20-21	5-21	

Swimming Pool	
1029	Concrete Pavers/Pool Deck/Patio	42-43	5-22	
1051	Filtration Refurbishment Allowance	42-43	5-22	
1036	Pool Resurfacing/Tile	30-31	5-22	

Tennis Courts	
1061	Asphalt Resurfacing (Color Coat)	23-24	5-24	

Playground	
1055	Play Equipment Allowance	27-28	5-25	

Components Not Included	
1019	Access Controller/Devices - Amenity	Unfunded	5-26	
1024	Aluminum Gutters/DS - Clubhouse	Unfunded	5-26	
1074	Asphalt Seal Coat - Parking Lot	Unfunded	5-26	
1001	Asphalt Shingles (Arch) - Pier Pavilion	Unfunded	5-27	
1002	Asphalt Shingles (Arch) - Tennis Pavilion	Unfunded	5-27	
1062	Backstop - Tennis Courts	Unfunded	5-28	
1076	Brick Wall Cleaning/Repair/Replace	Unfunded	5-28	
1057	Carpet - Office/Storage	Unfunded	5-28	
1047	Catch Basin Repair	Unfunded	5-29	
1008	Concrete Curb/Walk Allowance - Parking Lot	Unfunded	5-29	
1070	Concrete Pavers Majestic Walk Blvd.	Unfunded	5-29	
1058	Drainage Structures/Pipe	Unfunded	5-30	
1065	Entry Feature	Unfunded	5-30	
1031	Fitness Equipment (Partial Replacement)	Unfunded	5-30	
1030	Fitness Equipment Allowance (Full Replacement)	Unfunded	5-31	
1013	Floor Tile - Kitchen	Unfunded	5-31	
1050	Ground Light Allowance	Unfunded	5-32	
1077	Interior Painting	Unfunded	5-32	
1079	Irrigation System	Unfunded	5-32	
1078	Landscaping	Unfunded	5-32	
1068	Mail Box Pedestals	Unfunded	5-33	
1054	Metal Benches - Playground	Unfunded	5-33	
1063	Metal Benches - Tennis	Unfunded	5-33	

Asset IDDescription	Replacement	Page

Components Not Included Continued...
1075	Metal Picnic Tables - Playground	Unfunded	5-34	
1059	Metal Picnic Tables - Tennis Pavilion	Unfunded	5-34	
1052	Plastic Play Surface Border	Unfunded	5-35	
1081	Plumbing Piping In Building	Unfunded	5-35	
1041	Pond Fountain Allowance ( 4 year cycle)	Unfunded	5-35	
1039	Pool Lift	Unfunded	5-36	
1072	Pool Shell	Unfunded	5-36	
1056	Post Swing Single Bay	Unfunded	5-37	
1021	Refrigerator	Unfunded	5-37	
1023	Refurbishment Allowance - Sign Monuments	Unfunded	5-38	
1033	Rubber Flooring - Fitness Center	Unfunded	5-38	
1037	Shade Structure Frame	Unfunded	5-39	
1005	Standing Seam Metal Panels - Entry Feature	Unfunded	5-39	
1088	Street Resurfacing	Unfunded	5-39	
1071	Tennis Court Replacement	Unfunded	5-40	
1080	Utility Lines to Building	Unfunded	5-40	
1073	Vinyl Ceiling - Tennis Pavilion	Unfunded	5-40	
1048	Vinyl Gates - Dumpster	Unfunded	5-41	
1032	Wall Mirrors	Unfunded	5-41	
1020	Wall Over/Microwave	Unfunded	5-41	
1011	Water Coolers	Unfunded	5-42	
1012	Water Heater	Unfunded	5-42	
1082	Wiring In Building	Unfunded	5-42	
1018	Wood Flooring Refinish - Club Room	Unfunded	5-43	
1025	Wood Siding/Brick - Clubhouse	Unfunded	5-43	

Total Funded Assets	29
Total Unfunded Assets	48
Total Assets	77

Street Signs/Poles - 2037

14 Each

@ $1,200.00

Asset ID	1064

Misc. Site Components
Placed in Service	January 2008
Useful Life	30
Replacement Year	37-38
Remaining Life	17

Asset Cost	$16,800.00
Percent Replacement	100%
Future Cost	$25,563.19

Wood Bulkhead - Retention Pond - 2037

Asset ID	1044
Misc. Site Components
Placed in Service	January 2008
Useful Life	30
Replacement Year	37-38
Remaining Life	17

40 Linear Feet	@ $155.00
Asset Cost	$6,200.00
Percent Replacement	100%
Future Cost	$9,434.03

Wood Pergola Entry Feature Repair/Replace - 2032

	2 Each	@ $6,800.00	
Asset ID	1067	Asset Cost	$13,600.00	
		Percent Replacement	100%	
	Misc. Site Components	Future Cost	$18,290.49	
Placed in Service	January 2008			
Useful Life	25			
Replacement Year	32-33			
Remaining Life	12			

Wood Pilings 50%/Stringers/Deck - Pier - 2033

	106 Square Feet	@ $92.00	
Asset ID	1043	Asset Cost	$9,752.00	
	Percent Replacement	100%	
Misc. Site Components	Future Cost	$13,443.24	
Placed in Service	January 2019		
Useful Life	15		
Replacement Year	33-34		
Remaining Life	13		

Aluminum Fence - Pool - 2035

488 Linear Feet

@ $38.00

Asset ID	1026
Fencing & Gates
Placed in Service	January 2011
Useful Life	25
Replacement Year	35-36
Remaining Life	15

Asset Cost	$18,544.00
Percent Replacement	100%
Future Cost	$26,857.24

Aluminum Railing - Rear Patio/Ramp - 2038

	140 Linear Feet	@ $55.00	
Asset ID	1034	Asset Cost	$7,700.00	
		Percent Replacement	100%	
	Fencing & Gates	Future Cost	$12,009.37	
Placed in Service	January 2011			
Useful Life	28			
Replacement Year	38-39			
Remaining Life	18			

Chain Link Coated Fence 10 Ft - Tennis Courts - 2032

		440 Linear Feet	@ $31.00	
Asset ID	1060	Asset Cost	$13,640.00	
		Percent Replacement	100%	
	Fencing & Gates	Future Cost	$18,344.28	
Placed in Service	January 2008			
Useful Life	25			
Replacement Year	32-33			
Remaining Life	12			

Vinyl Ranch Fence - Entry - 2037

778 Linear Feet

@ $24.70

Asset ID	1053
Fencing & Gates
Placed in Service	January 2008
Useful Life	30
Replacement Year	37-38
Remaining Life	17

Asset Cost	$19,216.60
Percent Replacement	100%
Future Cost	$29,240.33

Asset ID	1035	Asset Cost	$14,400.00	
		Percent Replacement	100%	
	Site Lighting	Future Cost	$21,911.30	
Placed in Service	January 2008			
Useful Life	30			
Replacement Year	37-38			
Remaining Life	17			

Decorative Light Poles - Pool - 2037

4 Each

@ $3,600.00

Decorative Light Poles - Site - 2037

9 Each

@ $3,600.00

Asset ID	1046	Asset Cost	$32,400.00	
		Percent Replacement	100%	
	Site Lighting	Future Cost	$49,300.43	
Placed in Service	January 2008			
Useful Life	30			
Replacement Year	37-38			
Remaining Life	17			

Wall Laterns - Entry Feature - 2037

3 Each

@ $2,200.00

Asset ID	1066
Site Lighting
Placed in Service	January 2008
Useful Life	30
Replacement Year	37-38
Remaining Life	17

Asset Cost	$6,600.00
Percent Replacement	100%
Future Cost	$10,042.68

Restroom Refurbish Allowance - Club Room - 2027

Asset ID	1014
Misc. Building Components
Placed in Service	January 2008	
Useful Life	20	
Replacement Year	27-28	
Remaining Life	7	

Asset ID	1015

Misc. Building Components

200 Square Feet	@ $72.00
Asset Cost	$14,400.00
Percent Replacement	100%

Future Cost	$17,117.07

Restroom Refurbish Allowance - Pool/Fitness - 2027

460 Square Feet	@ $75.00
Asset Cost	$34,500.00
Percent Replacement	100%
Future Cost	$41,009.66

Placed in Service	January 2008	
Useful Life	20	
Replacement Year	27-28	
Remaining Life	7	

Wood Cabinets/Stone Top - Kitchen - 2043

Asset ID	1016
Misc. Building Components
Placed in Service	January 2019	
Useful Life	25	
Replacement Year	43-44	
Remaining Life	23	

Asset ID	1017

Misc. Building Components

21 Linear Feet	@ $450.00
Asset Cost	$9,450.00
Percent Replacement	100%
Future Cost	$16,675.57

Wood Decking - Covered Porch - 2048

800 Square Feet	@ $12.00
Asset Cost	$9,600.00
Percent Replacement	100%
Future Cost	$19,166.35

Placed in Service	January 2019	
Useful Life	30	
Replacement Year	48-49	
Remaining Life	28	

Asphalt Shingles (Arch) - Clubhouse - 2027

	73 Squares	@ $420.00	
Asset ID	1003	Asset Cost	$30,660.00	
		Percent Replacement	100%	
	Roofing	Future Cost	$36,445.10	
Placed in Service	January 2008			
Useful Life	20			
Replacement Year	27-28			
Remaining Life	7			

Standing Seam Metal Panels - Clubhouse - 2037

	540 Square Feet	@ $11.00	
Asset ID	1004	Asset Cost	$5,940.00	
		Percent Replacement	100%	
	Roofing	Future Cost	$9,038.41	
Placed in Service	January 2008			
Useful Life	30			
Replacement Year	37-38			
Remaining Life	17			

Clubhouse - 2026
Asset ID	1006
Exterior Painting
Placed in Service	January 2019
Useful Life	8
Replacement Year	26-27
Remaining Life	6

1 Lump Sum	@ $8,200.00 Asset Cost		$8,200.00
Percent Replacement	100%
Future Cost	$9,509.49

Furniture Allowance - Club Room - 2043

Asset ID	1022
Furniture Fixtures & Equipment
Placed in Service	January 2019	
Useful Life	25	
Replacement Year	43-44	
Remaining Life	23	

Asset ID	1028

Furniture Fixtures & Equipment

1 Lump Sum	@ $8,500.00 Asset Cost		$8,500.00
Percent Replacement	100%

Future Cost	$14,999.19

Furniture Allowance - Patio/Deck - 2033

1 Lump Sum	@ $6,500.00 Asset Cost		$6,500.00
Percent Replacement	100%
Future Cost	$8,960.32

Placed in Service	January 2019	
Useful Life	15	
Replacement Year	33-34	
Remaining Life	13	

Furniture Allowance - Pool Deck - 2038

Asset ID	1040
Furniture Fixtures & Equipment
Placed in Service	January 2019	
Useful Life	20	
Replacement Year	38-39	
Remaining Life	18	

Asset ID	1038

Furniture Fixtures & Equipment

1 Lump Sum	@ $35,000.00 Asset Cost		$35,000.00
Percent Replacement	100%

Future Cost	$54,588.05

Shade Structure Fabric - 2022

2 Each

@ $3,460.00

Asset Cost	$6,920.00
Percent Replacement	100%
Future Cost	$7,270.32

Placed in Service	January 2008	
Useful Life	15	
Replacement Year	22-23	
Remaining Life	2	

Heat Pump 5 Ton - 2020

Heat Pump 6 Ton - 2020

Asset ID	1010	Asset Cost	$7,000.00	
		Percent Replacement	100%	
	HVAC	Future Cost	$7,000.00	
Placed in Service	January 2008			
Useful Life	12			
Replacement Year	20-21			
Remaining Life	0			

1 Each

@ $7,000.00

1 Each

@ $8,400.00

Asset ID	1009	Asset Cost	$8,400.00	
		Percent Replacement	100%	
	HVAC	Future Cost	$8,400.00	
Placed in Service	January 2008			
Useful Life	12			
Replacement Year	20-21			
Remaining Life	0			

Concrete Pavers/Pool Deck/Patio - 2042

		9,443 Square Feet	@ $8.00	
Asset ID	1029	Asset Cost	$75,544.00	
		Percent Replacement	100%	
	Swimming Pool	Future Cost	$130,054.39	
Placed in Service	January 2008			
Useful Life	35			
Replacement Year	42-43			
Remaining Life	22			

Filtration Refurbishment Allowance - 2042

	1 Lump Sum	@ $24,000.00	
Asset ID	1051	Asset Cost	$24,000.00	
		Percent Replacement	100%	
	Swimming Pool	Future Cost	$41,317.71	
Placed in Service	January 2008			
Useful Life	35			
Replacement Year	42-43			
Remaining Life	22			

Pool Resurfacing/Tile - 2030

4,591 Square Feet

@ $14.00

Asset ID	1036
Swimming Pool
Placed in Service	January 2019
Useful Life	12
Replacement Year	30-31
Remaining Life	10

Asset Cost	$64,274.00
Percent Replacement	100%
Future Cost	$82,276.15

Pool Resurfacing/Tile continued...

Asphalt Resurfacing (Color Coat) - 2023

	1,362 Square Yards	@ $7.40	
Asset ID	1061	Asset Cost	$10,078.80	
		Percent Replacement	100%	
	Tennis Courts	Future Cost	$10,853.77	
Placed in Service	January 2008			
Useful Life	7			
Adjustment	9			
Replacement Year	23-24			
Remaining Life	3			

Play Equipment Allowance - 2027

1 Lump Sum	@ $40,000.00

Asset ID	1055
Playground
Placed in Service	January 2008
Useful Life	15
Adjustment	5
Replacement Year	27-28
Remaining Life	7

Asset Cost	$40,000.00
Percent Replacement	100%
Future Cost	$47,547.43

Access Controller/Devices - Amenity

Asset ID	1019
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Aluminum Gutters/DS - Clubhouse

Asset ID	1024

Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Asphalt Seal Coat - Parking Lot

Asset ID	1074
Components Not Included Placed in Service	January 2027
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Asphalt Seal Coat - Parking Lot continued...

Asphalt Shingles (Arch) - Pier Pavilion

Asset ID	1001
Components Not Included Placed in Service	January 2008

No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Asphalt Shingles (Arch) - Tennis Pavilion

Asset ID	1002

Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Asphalt Shingles (Arch) - Tennis Pavilion continued...

Backstop - Tennis Courts

Asset ID	1062
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Brick Wall Cleaning/Repair/Replace

Asset ID	1076

Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Carpet - Office/Storage

Asset ID	1057
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Catch Basin Repair

Asset ID	1047
Components Not Included Placed in Service	January 2008

No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Concrete Curb/Walk Allowance - Parking Lot

Asset ID	1008
Components Not Included Placed in Service	January 2017
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Concrete Pavers Majestic Walk Blvd.

Asset ID	1070
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Drainage Structures/Pipe

Asset ID	1058
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Entry Feature

Asset ID	1065

Components Not Included Placed in Service	January 2019
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Fitness Equipment (Partial Replacement)

Asset ID	1031
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Fitness Equipment Allowance (Full Replacement)

Asset ID	1030
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Floor Tile - Kitchen

Asset ID	1013
Components Not Included Placed in Service	January 2019
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Ground Light Allowance

Asset ID	1050
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Interior Painting

Asset ID	1077

Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Irrigation System

Asset ID	1079
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Landscaping

Asset ID	1078
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Mail Box Pedestals

Asset ID	1068
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Metal Benches - Playground

Asset ID	1054
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Metal Benches - Tennis

Asset ID	1063
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Metal Benches - Tennis continued...

Metal Picnic Tables - Playground

Asset ID	1075
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Metal Picnic Tables - Tennis Pavilion

Asset ID	1059
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Plastic Play Surface Border

Asset ID	1052
Components Not Included Placed in Service	January 2008

No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Plumbing Piping In Building

Asset ID	1081

Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Pond Fountain Allowance ( 4 year cycle)

Asset ID	1041
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Pond Fountain Allowance ( 4 year cycle) continued...

Pool Lift

Asset ID	1039
Components Not Included Placed in Service	January 2020

No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Pool Shell

Asset ID	1072

Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Post Swing Single Bay

Asset ID	1056
Components Not Included Placed in Service	January 2008

No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Refrigerator

Asset ID	1021
Components Not Included Placed in Service	January 2019
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Refurbishment Allowance - Sign Monuments

Asset ID	1023
Components Not Included Placed in Service	January 2008

No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Rubber Flooring - Fitness Center

Asset ID	1033

Components Not Included Placed in Service	January 2019
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Shade Structure Frame

Asset ID	1037
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Standing Seam Metal Panels - Entry Feature

Asset ID	1005
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Street Resurfacing

Asset ID	1088
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Tennis Court Replacement

Asset ID	1071
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Utility Lines to Building

Asset ID	1080

Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Vinyl Ceiling - Tennis Pavilion

Asset ID	1073
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Vinyl Gates - Dumpster

Asset ID	1048
Components Not Included Placed in Service	January 2008

No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Wall Mirrors

Asset ID	1032
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Wall Over/Microwave

Asset ID	1020
Components Not Included Placed in Service	January 2019
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Wall Over/Microwave continued...

Water Coolers

Asset ID	1011
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Water Heater

Asset ID	1012

Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Wiring In Building

Asset ID	1082
Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Wood Flooring Refinish - Club Room

Asset ID	1018
Components Not Included Placed in Service	January 2008

No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Wood Siding/Brick - Clubhouse

Asset ID	1025

Components Not Included Placed in Service	January 2008
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

METHODOLOGY
Reserve Analysis is a process that identifies capital expenses the District can expect and creates a plan to fund them. This is accomplished by a site visit to visually evaluate components to measure quantities and determine their remaining life. Component Selection Process is based on the Community Associations Institute (CAI) standards for reserve studies and selection of components.
Component must be a commonly owned, have a limited and predictable life, replacement cost must be above a minimum threshold cost. Useful life and replacement cost are obtained from site inspection by experienced inspectors and our database of information, historical information, local Vendors and comparison of similar component cost found at other properties.
The funding plan we develop includes; adequate cash balances, even contributions so all owners pay their fair share over time and moderate contributions with acceptable increases. Percent Funded is defined by industry standards as 70-100% strong, 30-70% fair or adequate and below 30% weak or inadequate. We recommend Full Funding if possible to avoid deferred maintenance or special assessments. Baseline Funding maintains funds above zero resulting is a high risk of special assessments or deferred maintenance and should be avoided.
Threshold Funding maintains reserves above a “Threshold” level providing adequate funding with moderate risk.
CREDENTIALS
Community Advisors, LLC provides capital reserve planning, property inspection, and construction oversight for a broad base of clients including CDD communities, Condominiums, Homeowner Associations, Churches, Private Schools, Time Shares, Active Adult, Municipal Utility Plants, Marinas, Historic Buildings & Museums and commercial investment properties.
Personal Service is our common business practice but our attention to detail, quick response and interest in client relationships continues to earn us a larger market share of work each year.
Range of Experience includes a broad selection of building types, ages and uses from protected historic structures to new communities ready for developer turnover. As commercial general contractors we have experience building many of the types of structure we now provide reserve analysis for, so we understand potential problem areas. As commercial inspectors we have experienced a variety of structural and cosmetic conditions offering solutions for repair. Areas of expertise include MEP systems, energy management, life safety systems, building envelope and roof components, marine structures, street and other site improvements.
Detailed Site Evaluation is Conducted to make sure we know your property and include all your assets in our analysis. With our years of experience with community development and commercial construction projects we understand both horizontal and vertical construction and utilize realistic replacement cost and useful life projections in our analysis. Financial Plan Meets CAI & APRA Standards with information obtained during the site visit we build a custom-made financial plan to ensure adequate funding for future component replacement which equates to maintaining District value.
Reserve Analyst Credentials: Mr. Charles Sheppard is the owner of Community Advisors responsible for field inspection oversight and day to day operations. Mr. Sheppard hold a BS degree from VA Tech and has conducted building evaluations for over 30 years. He is a licensed Florida General Contractor, Home Inspector and earned the professional designations of Certified Construction Inspector (CCI), Professional Reserve Analyst (PRA) and Reserve Specialist (RS).

TERMS OF SERVICE

We have completed an analysis of your capital components that serves as a budgeting tool. This reserve study reflects the information provided by this client and is not for the purposes of performing an audit or estimating construction projects. Our site visit includes visual observation of components that are accessible and safe for our inspectors to evaluate. Roof evaluation is limited to ground observation for sloped roofs and roof top inspection for flat roofs if safe and stable access is available that meets our safety standards.
We are not responsible for any hidden defects or determining the condition of hidden or underground components or systems. Observing environmental conditions, hazardous materials or determine compliance with building codes or other regulations is not included in our scope of work. Our site visit is not a safety inspection and we are not responsible for any hazards that exist. Destructive testing is not conducted. It has been assumed, unless otherwise noted in this report, that all assets have been designed and constructed properly and that each estimated useful life will approximate that of the norm per industry standards and/or manufacturer’s specifications.
Projections of component remaining useful life assumes this client will perform necessary preventative maintenance and repair per industry standards. This reserve analysis study and the parameters under which it has been completed are based upon information provided to us in part by the Client and its contractors, assorted vendors, specialist and independent contractors. Reserve fund balances and contribution amounts for use in our analysis is furnished by the client and deemed accurate. Useful life projections are determined by historical records, component condition and our opinion based on evaluating similar components on other projects. These life projections are changed by weather conditions, use, maintenance procedures and other factors out of our control therefore regular updates to this analysis are needed to maintain funding accuracy. Replacement cost is determined by our experience with similar projects, local vendor pricing and client historical records and should not be considered suitable for budgeting repair or replacement projects. Local contractor proposals must be obtained for this work. No liability is assumed as the result of changing market prices or inaccurate estimates or projections of remaining useful life of components.
Component replacement cost and interest rates constantly change. In order to maintain accuracy of your funding plan updates to this analysis should be conducted annually with a site visit every 2-3 years unless conditions warrant annual visits. Community Advisors, LLC shall not be required to participate in any legal action taken by or against our clients for any reason and shall also not be required to give testimony in depositions or in court. In all cases the liability of Community Advisors, LLC and its Principals, Employees, contractors and Vendors shall be limited to the consulting fee agreed upon for the production of this report. Client financial information is considered confidential and is not disclosed to third parties without your approval. We do use your name for our list of valued clients and when submitting proposals for new projects that request references or recent projects. That request may include size of property, number of units or major components. We also use photos from time to time of components as an example for educational and marketing efforts. Community Advisors and the analyst who prepared this study do not have any relationship that can be considered a conflict of interest. From time to time our Clients ask that we manage repair or replacement of components due to our experience in construction management. We do so with the understanding that full disclosure for both parties is completed.

DEFINITIONS

Adjustment to Useful Life: Typical useful life projections are used for each component. The adjustment is used to modify that life projection for earlier or later replacement. It only applies to the current replacement cycle.

Cash Flow Method: A method of determining reserve contributions that are “pooled” to fund replacement cost as needed without restricting funds to any one component.

Component Method: A funding method that fully funds each reserve component then sums those for the annual contribution.

Current Funding Plan: The funding plan currently used at the time of this analysis with updated component inventory and financial assumptions. This allows you to see how the current contribution level funds future component replacement.

Effective Age: Difference of useful and remaining useful life.

Fully Funded Balance: Represents the cost of used component life represented by the formula.
FFB = (Current Cost x Effective Age)/ Useful Life

Interest Contribution: The interest that should be earned on invested reserves.

Percent Funded: Ratio of reserve balance to fully funded balance.

Remaining Life: Number of years a component is projected to continue to function.

Threshold Funding: This plan maintains fund balance above a predetermined threshold dollar or percent funded amount.
Useful Life: The estimated useful life of an asset based upon industry standards, manufacturer specification, visual inspection, location, usage, association standards and prior history.