Reserve Study Levels of Service - Level 3

Financial Update – Reserve Study Update with No Site Inspection
A financial update is a reserve study in which GeoReserves has already prepared a full reserve study once before and no site inspection is performed. This service is useful for large communities with an extensive component list and over $1 million in reserve savings and investment accounts. Developing annual budget for these communities requires constant attention to detail and the board should rely on the expert recommendations of a professional reserve analyst.
A financial update includes the following:
  • Contact the manager, board of directors, or other agents for information regarding any reserve projects that have been done or other changes to the Component List.
  • Update the previously prepared Financial Analysis with new financial projections and funding plan recommendations.
  • The first draft of the updated reserve study is now ready to be sent. From here:
  • The manager and board of directors are welcome to review the first draft and contact GeoReserves with any questions or potential revisions. 
  • All questions and feedback are welcome. These reports are designed to make any mistakes easy to spot and correct.
  • Two rounds of revisions are included in the scope of work to make sure you are confident in the final product.
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