Reserve Fund Studies

The Reserve Fund Study is a report compiled by qualified engineers (or reserve fund planners) and is a requirement of the Condominium Property Act of Alberta, completed every 5 years. They provide a comprehensive report for owners, regarding all “Capital Cost” components on the site (i.e. roofs, siding, windows, elevators, parking areas). They also list and recommend required repairs/refurbishment/replacement of these components. The results are presented in a comprehensive 25 year cash-flow forecast, with a time-line for the work to commence and the approximate cost. This enables a Board of Directors to plan what they must budget for the “Corporation’s savings account” (The Reserve Fund). This is an invaluable tool for Boards of Directors by providing financial planning for their budgets.