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Subject: Reserve Study Analysis Spreadsheet
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Author Messages
RichardM19
(Illinois)

Posts:4


10/02/2016 2:17 PM  
Steve,

Your reserve tool is simply outstanding. Its many features including the exclude/include feature allow me to quickly make various changes and instantly see the change. This is crucial right now because I have a treasurer that has adopted the role of a father overseeing allowances of his children and he prefers to keep the records on the back of a napkin, really an excel workbook but it is convoluted, filled with notes, different color fonts for no apparent reason, errors, omissions and only he can decipher it. It has 17 years of history and it’s so small it’s nearly impossible to use between hidden columns and frozen rows, it’s just a mess. When I left our board 6 years ago and we were 100% funded. Since then curious things like service life increases from 20 to 34 years with no basis to support the increase have appeared. Other new assets/costs that should be treated as reserve items are missing. The guesswork used for our road resurfacing is seriously wrong and the worst case right now when I return as the president next month (assuming I win the hotly contested election… it’s not!) we will be facing a reserve shortage of as much as 100k. Your spread sheet shows the path forward easily and in a format that is understandable to many.

-Rick
SteveB25
(Arizona)

Posts:59


10/06/2016 11:26 PM  
Hello All,

Don't use the "Special Projects" section on the General Data Entry sheet. There is a bug in the code and I need to sort it out.

I have disabled that function in latest version (version 9.9a). You can continue to use version 9.9 as long as you do not use the special projects section.


Here is link to download ...
https://www.dropbox.com/sh/ov726te0mv1l2qx/AAAn9Y97p8lXnynYmhcl27Hoa?dl=0


Steve
JeanI
(Louisiana)

Posts:99


11/03/2016 11:14 AM  
I would appreciate a copy of the spreadsheet. Thank you. [email protected]
SteveB25
(Arizona)

Posts:59


12/10/2016 3:04 PM  
Updated workbook to Version 10.0

Changes:
- Added Reserve Fund Summary Table and Chart


Here is link to download ... copy and paste this link into your browser

https://www.dropbox.com/sh/ov726te0mv1l2qx/AAAn9Y97p8lXnynYmhcl27Hoa?dl=0

Regards,

Steve
[email protected]
PeterL8
(California)

Posts:1


12/10/2016 9:41 PM  
Great job on the spreadsheet. Steve added a report to help comply with California disclosure requirements. Highly recommended
SteveB25
(Arizona)

Posts:59


12/15/2016 2:20 PM  
Updated workbook to Version 10.2

Changes:
- Resolved problem with Special Projects calculation. Enabled ability to input Special Projects (aka, one time projects, no maintenance or future replacement)

- Provided option to show between 10 to 30 years on the summary charts. Prior version only showed 30 years.


Here is link to download ... copy and paste this link into your browser

https://www.dropbox.com/sh/ov726te0mv1l2qx/AAAn9Y97p8lXnynYmhcl27Hoa?dl=0

Regards,

Steve
[email protected]
SteveB25
(Arizona)

Posts:59


12/15/2016 2:37 PM  
There is a bug in the software used to compile the workbook. On the Summary Charts sheet, when you input the number of years to display, it may display unpredictable results (i.e., the number of years). This is not problem with the underlying Excel ... seems to be problem with the application used to create the .exe file.

You may use the version posted without any issues. I work on resolving the anomaly with the software provider.


Steve
SteveB25
(Arizona)

Posts:59


12/17/2016 7:10 AM  
Updated workbook to Version 10.2a

Changes:
Resolved problem that changing number years to be displayed in charts / tables caused unpredictable results.


Here is link to download ... copy and paste this link into your browser

https://www.dropbox.com/sh/ov726te0mv1l2qx/AAAn9Y97p8lXnynYmhcl27Hoa?dl=0

Regards,

Steve
[email protected]
LarryE3
(Colorado)

Posts:26


12/17/2016 6:04 PM  
Steve,

Thanks for the continual work on this. Do you know of any restrictions using the spreadsheet with the various versions on Excel or Windows OS? Was thinking of upgrading to Office 365 on Windows 10.

Thanks,

Larry
LarryE3
(Colorado)

Posts:26


12/17/2016 6:04 PM  
Steve,

Thanks for the continual work on this. Do you know of any restrictions using the spreadsheet with the various versions on Excel or Windows OS? Was thinking of upgrading to Office 365 on Windows 10.

Thanks,

Larry
SteveB25
(Arizona)

Posts:59


12/17/2016 6:11 PM  
Hello Larry

You should not have any problems. The workbook was created using Excel 2010 on a Win7 PC.

Steve
SteveB25
(Arizona)

Posts:59


12/17/2016 6:13 PM  
Hello Larry

You should not have any problems. The workbook was created using Excel 2010 on a Win7 PC.

Steve
SteveB25
(Arizona)

Posts:59


12/18/2016 6:17 AM  
Some people have asked for some guidelines on HOA reserve analyses ...

I found this one particularly useful with the added benefit that it is not created by a company that performs reserve studies as a business venture ... this document is found on the California Department of Consumer Affairs ... Bureau of Real Estate.

Here is the link. Copy and paste into your browser .... http://dre.ca.gov/files/pdf/re25.pdf

I tried to attach the file to this thread, but it is 836KB and that is larger than allowed on this forum.

Steve

SteveB25
(Arizona)

Posts:59


12/20/2016 9:08 AM  
Another update ... to Version 10.3

Changes:
- Changes some formatting to more neutral colors
- Bug fixes

Here is link to download ... copy and paste this link into your browser

https://www.dropbox.com/sh/ov726te0mv1l2qx/AAAn9Y97p8lXnynYmhcl27Hoa?dl=0

Regards,

Steve
[email protected]
KerryL1
(California)

Posts:4381


12/20/2016 5:13 PM  
Nice you provided the CA DRE Reserves Guidelines. I studied it a lot when I was, as a HOA board member trying to learn as much as possible about reserves. I believe that it covers the topic very well.
GuyS
(Arizona)

Posts:15


12/26/2016 3:32 PM  
I just found your Reserve Analysis spreadsheet and it is very nice. As a test, I have transferred data from an Association Reserves report to your spreadsheet. The numbers and charts mostly agree, after trying to factor out the different focus of their analysis.

I did notice what appear to be discrepancies on your Reserve Assets Checklist page. The document refers to entering an item number for each item, but I do not see an item column. Is that no longer present? I would find it useful. The "click here for info" button, and at least one other place, mention a limit of 50 items. I think from forum discussion that the limit is now 250 items?

I am somewhat uneasy about using a service date and expected life vs. expected life and remaining life. I adjusted the service date to make the replacement date come out where I want it. (A 30-year expected life road could last anywhere from 25 to 40 depending on individual factors.) I think, maybe incorrectly, that it is better to adjust the service date than the expected life because I want to use the "standard" expected life for the item after it is replaced, rather than the experienced life of the road as it is.

Thanks again.

Just out of curiosity, where in AZ are you? We're in Tucson.
SteveB25
(Arizona)

Posts:59


12/26/2016 8:39 PM  
Thank you GuyS for the comments.

The discrepancy of 50 assets vs 250 is just that. It used to be 50 and I changed that and did not update the "click for info" text. I corrected that.

The way that you are using the useful life and year of service to make the adjustment to the remaining life is fine, except, you should not be making a change directly to the grey cells ... i.e., the remaining useful life field. This field is a calculated field and if you make the change directly to that field, it will delete the calculation. You should be entering the last year of service and then adjust the value for Est. Useful Life to get the remaining useful life that you think is correct. The remaining useful life is determined based on the values of service date and useful life. My recommendation is the put in the true value for service date and then only adjust the useful life. Your thought about having a standard expected life is not a factor that is built into the tool.

Thanks for your input ... I will be incorporating those textual changes in the next release. And, I am in Scottsdale.

Best regards,

Steve
SteveB25
(Arizona)

Posts:59


12/26/2016 8:44 PM  
Hi GuyS ...

I did not notice your comment about "item numbers" for the reserve assets. You have item numbers on the General Data Sheet for the assets. Having them on the checklist page would be redundant. Once you have copied them over, you then have the item numbers. Would you find it useful to also have filtering buttons so you do sorts, etc?

Steve
GuyS
(Arizona)

Posts:15


12/27/2016 1:42 AM  
Hi Steve,

I see I misunderstood item numbers. I was looking to insert my own item numbers, to cross-link the information here to descriptive text and pictures elsewhere. It looks like your item numbers are reset every time you copy the components from Checklist to the General Data Entry page. I see some use for that in correlating information on different pages of the report but it doesn't help me refer to external information. I can probably resolve this by including my item number in the asset description; it's just not what I was expecting.

In the process of transferring data to this application, I copied asset data from the RA spreadsheet to the Checklist page. That seemed to work fine. But after some changes and moving things around, the Checklist page now says there are 58 items with cost data when there appear to be only 57. When I copy to the general data entry page, there are only 57 items there, and there are only 57 items when I manually count the number of entries on the Checklist page. How sensitive is the Checklist table to normal Excel copying and pasting operations?

I am creating data for 2016 (because that is the data I am trying to match). What's the best way to update the plan for a new year? Are there any features to help move to the next year, like inflating all current estimate amounts by an inflation factor? Or do I have to go through and re-estimate everything, change last service dates, etc.?

Thanks again!

Guy
GuyS
(Arizona)

Posts:15


12/27/2016 9:20 AM  
Hi Steve,

Let me know if you want me to report minor, almost typographical issues. For example, on the Summary Tables page, Start of Year Reserve Fund Balance graph, there is no legend for the dark red line. Looking at the chart parameters, I see it is the fully funded line, but it should have a legend.

Guy
SteveB25
(Arizona)

Posts:59


12/27/2016 9:21 AM  
Hi Guy,

Yes, I can see where one might want to cross reference assets using an index number. Your idea of including the index number in the description would assure you that you could easily do that. In order for me to put an index number to an asset would take a fair amount of work to make sure that in all the charts, tables, etc., the index number would remain "attached" (so to speak) to the asset. So, I believe your idea of including it with the description is a good way to do that.

With respect to your question about updating year to year ...

The method for estimating the future cost of asset replacement / maintenance in the future is based upon if you state that the cost is a "current cost estimate" or the "actual cost at the time of last services". If the cost is current estimate, it assumes it is current as of the current year. It is then inflated going forward using the current year as the base year. If the asset cost is stated as actual cost, then the future cost is inflated using the year last serviced as the base year. This method of estimating future cost is sensitive to you correctly stating when an asset was last serviced or replaced. So to address your question about entering data for 2016 and updating to 2017 ... if your cost estimates are based on the actual cost of the asset at the time last serviced, then no problem at all. If your cost estimate is based on an estimated cost and if that estimate is current in 2016, then unless you update the cost estimate for 2017 it will be off by whatever the inflation rate is ... in other words, it will be too low by an amount equal to that inflation rate.

To answer your question about copying data from the asset checklist to the general data section ... As you add assets (or modify the existing data) you must put in a cost for each asset. This is Column C on the checklist sheet. There is an indicator cell ... D4 ... on that sheet that gives you a count of the number assets that have a cost associated with it. If you omit the cost for any asset, it will not be copied to the general data sheet. You say that the sheet indicated you had 58 items with cost data ... but it only copied 57? I cannot tell you what the problem may be. If you can forward me a copy of the workbook you are working with, I might be able to diagnose this anomaly ... use my gmail address ... [email protected]

Regards,

Steve
WilliamF9
(Washington)

Posts:1


01/30/2017 4:22 PM  
Hi Steve,

I've been tapped to head the effort to create a Reserve Study for our HOA. I would sure like to see the latest version of the spreadsheet you have developed. [email protected]

Thanks much.
TimB4
(Virginia)

Posts:14860


01/30/2017 6:38 PM  
Posted By SteveB25 on 12/20/2016 9:08 AM
Another update ... to Version 10.3

Changes:
- Changes some formatting to more neutral colors
- Bug fixes

Here is link to download ... copy and paste this link into your browser

https://www.dropbox.com/sh/ov726te0mv1l2qx/AAAn9Y97p8lXnynYmhcl27Hoa?dl=0

Regards,

Steve
[email protected]



SteveB25
(Arizona)

Posts:59


01/30/2017 6:50 PM  
Here is the link to download latest version ...

https://www.dropbox.com/sh/ov726te0mv1l2qx/AAAn9Y97p8lXnynYmhcl27Hoa?dl=0


Regards,

Steve
SteveB25
(Arizona)

Posts:59


02/02/2017 8:38 PM  
I have made several enhancements to the tool and have decided to offer the tool for sale. In this sale version, the tool will be native MS Excel so it should run on a Mac with MS Office.

Also, as it is native MS Excel, users are free to make any changes or incorporate elements of their own design.

I will not be making any more enhancements to the tool that is available for free. If anyone has an interest in more info, please drop me a line.

Steve

[email protected]

SteveB25
(Arizona)

Posts:59


02/05/2017 1:50 PM  
I have created a web site where you can get more information on the new version of the workbook. The product name is "Reserve Funding Analyzer".

I am removing the link to the Dropbox for the download of the prior version. You can still download this version at no cost on the web site.

As I stated in prior posting, the new version is the native MS Excel application. It is not the executable program. The application is fully unlocked. As it is native Excel, it should run fine on Mac computers as well as PCs with Windows. The application was developed using Window 7 and Excel 2010. It has been tested on Windows 10 and Excel 2013 with no problems.

I invite you to drop by and take a look. Thanks to all of you for your support.

Reserve Funding Analyzer website: http://www.reservefundinganalyzer.com/

Best regards,

Steve
AngeloR2
(Arizona)

Posts:2


02/07/2017 1:34 PM  
I am new to an HOA but Reserves getting a lot of discussion. What is the difference between a cash versus component approach?
SteveB25
(Arizona)

Posts:59


02/07/2017 2:05 PM  
In a reserve study, the inventory of components is gathered. Then each component's replacement cost is determined and the total accrued depreciation is calculated. This is often referred to as developing the Fully Funded Balance (FBB) for that component. For example, if you have a component that cost $10,000 and the Useful Life (UL) is 10 years, then, at year 0, you need to set aside $1,000 per year for next ten years to pay for its replacement at the end of its life. Of course, this does not take into consideration inflation.

Now the difference between Cash Flow methodology and Component methodology.

With Cash Flow method, each year's contribution to the reserve fund is considered one large pool of money. A steady contribution rate into the pool creates funds to offset all scheduled reserve expenses ... no matter what project or component those expenses are designated for.

The Component Method means you have a separate pool of money for each component and you cannot use money from Component A's fund to pay for expenses for Component B.

Because the Component Method is very inflexible, it is generally not even considered as an option for development of a funding plan.

Regards,

Steve
FrancisS1
(Colorado)

Posts:1


02/07/2017 3:37 PM  
Steve, I have followed your interactive dialogue with folks since you started this project last summer. I am impressed with and appreciative of the work you did here. Our HOA needs to do a RS and tonight I have an HOA annual meeting where I will present the owners with two options:
1) To go with a 3rd party firm here in Colorado, pay about $2100 for our very small HOA (7 duplexes), limited common areas, no rec. facilities, etc. with a very low fund balance to date or,
2) Do the analysis ourselves.
I am going to recommend to do it ourselves since I and another Board member have financial planning background.; e.g. my fellow board member is an IT project manager for the City of Denver and does project cost planning as part of his role. We’d be starting from scratch; so you do have any advice off the top?
AngeloR2
(Arizona)

Posts:2


02/07/2017 4:33 PM  
In the component method, if you cannot use Money from component A fund for expenses for Component B, then where do you get the money?

I know this sounds like dumb question but funds may have to be gotten from somewhere.
SteveB25
(Arizona)

Posts:59


02/07/2017 7:33 PM  
Francis,

The advice I have is to pay very critical attention to the identification of your reserve components. I recommend you read the State of California Reserve Study Guidelines

http://www.dre.ca.gov/files/pdf/re25.pdf

It is an excellent article and I have found it very helpful. Most so called "white papers" written by professional reserve study providers tend to paint a bleak picture that would have you leaning toward their services ... not that that is a bad thing ... in some cases it would be wise.

For smaller organizations, if you have competent people analyzing what you are responsible for and then obtaining estimates for replacement from qualified service providers you should be OK.

Steve
SteveB25
(Arizona)

Posts:59


02/07/2017 7:35 PM  
Posted By AngeloR2 on 02/07/2017 4:33 PM
In the component method, if you cannot use Money from component A fund for expenses for Component B, then where do you get the money?

I know this sounds like dumb question but funds may have to be gotten from somewhere.




Angelo,

The money is all part of whatever income you have. For most HOAs, it is the annual dues. The income is a big bucket of money, but it is then deposited into separate accounts if you are using the Component Method. As I said though, the Component method is hardly ever used.

Steve
SteveB25
(Arizona)

Posts:59


02/21/2017 8:06 PM  
The new version of the application is called Reserve Funding Analyzer. This new version, along with the older version are both available here ...

http://www.reservefundinganalyzer.com/

Copy and paste into your browser's address line

Although the new version is native Excel ... the version of Excel on the Mac is not compatible. I am trying to resolve this problem.

Steve

PS: here is URL again ...


http://www.reservefundinganalyzer.com/



SteveB25
(Arizona)

Posts:59


06/18/2017 11:13 AM  
I am unable to be able to make the Reserve Funding Analyzer application compatible with Apple products.

The version of Microsoft Office for the Mac is missing several functions that is available in the Windows version of MS Office. The application is written in MS Excel and I make extensive use of VBA programming in the application. Until Apple and Microsoft are able to make the Mac and Windows the same, I am powerless to make a version for Mac.

By the way, I want to thank those who provided feedback on improvements and such. The current version if V1.2a available here ... http://reservefundinganalyzer.com/

You can also download a 7-day Trial version to evaluate ... same place ... http://reservefundinganalyzer.com/

I am working on new version for distribution shortly with additional enhancements.

Steve

GaryA7
(Arizona)

Posts:1


07/05/2017 7:37 PM  
Hi Steve, I am on a HOA Board in AZ and They have no plan what so ever. I was wondering if your spreadsheet was still available to try out and offer feed back? Please email me at [email protected] at your convenience. Thanks in advance! Gary
RalphS3
(Oregon)

Posts:1


07/18/2017 4:00 PM  
I also have used MS Excel since the days of Apple and Lotus before MS "acquired" it.
Currently I am the Treasurer of my HOA and use Excel for reserves based on a Reserve Study that we just had performed. The Excel also allocates the Unit Owners share of the dues based on the operating budget, general reserves budget and special roof reserves budget.

We allocate budgets based on the class of the expense. That is unit owners sq footage of their unit to the total of sq footage of all units, which we call class1, We designate each category of operating expense as variable function of the sq footage or their share of one unit out of the total number of units. For example we take the property manager as a general expense clas12 and painting as class 2 a sq. footage parameter. We have 120 units. So a general expense is 1/120 of that general expense budget line item.

I would like to share spreadsheets, given that we both agree to maintain the privacy of the data and spreadsheets.

Thanks,

Ralph

541-913-2371
SteveB25
(Arizona)

Posts:59


07/18/2017 7:14 PM  
Posted By RalphS3 on 07/18/2017 4:00 PM
I also have used MS Excel since the days of Apple and Lotus before MS "acquired" it.
Currently I am the Treasurer of my HOA and use Excel for reserves based on a Reserve Study that we just had performed. The Excel also allocates the Unit Owners share of the dues based on the operating budget, general reserves budget and special roof reserves budget.

We allocate budgets based on the class of the expense. That is unit owners sq footage of their unit to the total of sq footage of all units, which we call class1, We designate each category of operating expense as variable function of the sq footage or their share of one unit out of the total number of units. For example we take the property manager as a general expense clas12 and painting as class 2 a sq. footage parameter. We have 120 units. So a general expense is 1/120 of that general expense budget line item.

I would like to share spreadsheets, given that we both agree to maintain the privacy of the data and spreadsheets.

Thanks,

Ralph

541-913-2371





Hi Ralph,

I have given some thought to the way you allocate expenses and the RFA application does not get into that kind of detail. What the RFA does is to take as an input the total dues that you would receive from the entire association. It is not so granular to the point of the actual dues per unit. The annual sum of the revenue from the annual dues is lumped together and then the use of the application can adjust what the annual percent increase they would like to assess ... to the entire group. What you are describing is more a application to determine what each individual unit should be paying based on that unit's square footage. The RFA application is not designed to do that. It is to be used as planning tool for the reserve fund to address all of the community's assets and not just the assets allocated to a single unit.

Best regards,

Steve
MishaG
(Illinois)

Posts:2


08/04/2017 12:38 PM  
Hi Steve,

I know this was over a year ago, but do you still have a reserve study spreadsheet available? I'm the president of our association and am trying to do a study.

Thanks!
Misha
DouglasM6
(Arizona)

Posts:438


08/04/2017 1:58 PM  
I would like to look at a spreadsheet as well. But the links above do not work for me.
TimB4
(Virginia)

Posts:14860


08/04/2017 4:59 PM  
The drop box addresses might not work anymore, as Steve was using them as a developers tool
The final address seems to work when copied into a web browser.

Here is that address as an actual link (simply click on it):

http://reservefundinganalyzer.com/
DouglasM6
(Arizona)

Posts:438


08/04/2017 5:19 PM  
Thank you!
SteveB25
(Arizona)

Posts:59


08/06/2017 7:45 AM  
If anyone has a question about the Reserve Study Funding Analyzer application, you can send me an email using the link on the website ...

http://www.reservefundinganalyzer.com/

Thanks to you all ...

Steve
LauraR7
(Arizona)

Posts:1


10/20/2017 7:49 AM  
Steve — could I get a copy of your spreadsheet, please?
KathyC7
(Illinois)

Posts:3


11/13/2017 10:54 AM  
Hi Ralph,

I have a very similar situation in our Association. Are you open to sharing your spreadsheet? I just took over duties of the President a few weeks ago and really could use some guidance as to how we can fairly split down the HOA fee's in our complex.

Thanks so much!
KathyC7
(Illinois)

Posts:3


11/13/2017 10:55 AM  
Hi Ralph,

I have a very similar situation in our Association. Are you open to sharing your spreadsheet? I just took over duties of the President a few weeks ago and really could use some guidance as to how we can fairly split down the HOA fee's in our complex.

Thanks so much!
PaininyourA
(South Carolina)

Posts:119


11/13/2017 11:24 AM  
Posted By KathyC7 on 11/13/2017 10:55 AM
Hi Ralph,

I have a very similar situation in our Association. Are you open to sharing your spreadsheet? I just took over duties of the President a few weeks ago and really could use some guidance as to how we can fairly split down the HOA fee's in our complex.

Thanks so much!







http://www.reservefundinganalyzer.com/
KathyC7
(Illinois)

Posts:3


11/14/2017 8:57 AM  
Thanks, I am looking for the spreadsheet that Ralph mentioned, with several different types of units all with different HOA fee's associated by size. Hoping to gain some insight on how others are handling these situations.
GenoS
(Florida)

Posts:1631


11/14/2017 10:18 PM  
Posted By KathyC7 on 11/14/2017 8:57 AM
Thanks, I am looking for the spreadsheet that Ralph mentioned, with several different types of units all with different HOA fee's associated by size. Hoping to gain some insight on how others are handling these situations.


Ralph posted here exactly once back in July and hasn't been back.
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