VENDOR'S FORUM
How Often Do We Need A Reserve Study?
Section 1365.5 of the Davis-Sterling Common Interest Development Act requires that a Reserve Study be
performed at least once every three years. However, since many factors change from one year to the next, many associations simply opt to have a complete Reserve Study performed every year as a part of the budgeting process.
If a Reserve Study is not performed every year. Civil Code Section 1365.5 requires that the board conduct
and annual review of the analysis, implement necessary adjustments and recalculate the results. The revised analysis must then be distributed to the owners as part of the pro forma operating budget as required in Civil Code Section 1365.
Because the board or its agents may not want to assume the legal liability or possess the necessary time or expertise to update the analysis during the interim years, Foresight Financial Services offers a convenient "Update" option. Since your data is stored in our computer system, we can provide all the necessary reports at a reduced cost.
Foresight Financial Services would like to thank you for this opportunity to introduce ourselves and invite
you to call us if you have any questions or require additional information. At your request, we will provide
a written proposal for your Association at absolutely no cost or obligation. We look forward to serving you
in the future and are confident our performance will impress you.