Calculating the Fully Funded Reserve Amount

Does your board know how to calculate the amount needed to be fully funded?  It isn't as easy as one may think.  You cannot take the figures calculated on the Cash Flow Specific Projections or the Distribution of Accumulated Reserves Schedules and use them as the amount needed to be fully funded.  Unless your community as been following the study to the letter and the amount in the reserve fund at year end when the study was done was correct. 

Repeating the Same Mistakes Expecting Different Results

I just had to share some news I got today.  I found out Suntree HOA changed landscaping companies.  It explains why our budget showed $11,000.00 for a sprinkler audit.  Most landscape companies charge a high fee upon the initial contract signing for a sprinkler audit.  This is essentially a guarantee that once you sign the contract you don't cancel it after they disclose everything they found wrong during the initial inspection.