Reserve Contributions
Transcription
Reserve Contributions
Idyllwilde Master Association 22008 E. Idyllwilde Drive Parker, CO 80138 Level 1 Reserve Analysis Report Period – 01/01/12 – 12/31/12 Client Reference Number - 8344 Property Type – Single Family Homes Number of Units – 247 Fiscal Year End – December 31 Final Version Date of Property Observation - June 29, August 8 and September 23, 2011 Project Manager Matthew Woytek Main Contact Person Mr. James Phifer, Community Manager Report was prepared on - Monday, May 21, 2012 P.O. Box 1762 • Castle Rock, CO 80104 • Phone (303) 790-7572 • Fax (303) 688-3083 www.aspenrs.com Table of Contents SECTION 1: Introduction to Reserve Analysis--------------------------------------------------------------page 1 General Information and Answers to FAQ’s------------------------------------------pages 2 - 3 Summary of Reserve Analysis------------------------------------------------------------------page 4 SECTION 2: Physical Analysis (Photographic) ----------------------------------------------------pages 1 - 100 SECTION 3: Financial Analysis a) b) c) d) e) f) g) h) i) j) k) Funding Summary-------------------------------------------------------------------------------------page 1 Percent Funded – Graph----------------------------------------------------------------------------page 2 Asset Inventory List-----------------------------------------------------------------------------pages 3 - 4 Significant Components Table---------------------------------------------------------------pages 5 - 6 Significant Components – Graph------------------------------------------------------------------page 7 Yearly Summary Table-------------------------------------------------------------------------------page 8 Yearly Contributions – Graph-----------------------------------------------------------------------page 9 Component Funding Information---------------------------------------------------------pages 10 - 11 Yearly Cash Flow Table----------------------------------------------------------------------------page 12 Projected Expenditures Year by Year – Graph ----------------------------------------------page 13 Projected Expenditures Year by Year --------------------------------------------------pages 14 - 17 SECTION 4: Glossary of Terms and Definitions------------------------------------------------------pages 1 - 2 Introduction to the Reserve Analysis – The elected officials of this association made a wise decision to invest in a Reserve Analysis to get a better understanding of the status of the Reserve funds. This Analysis will be a valuable tool to assist the Board of Directors in making the decision to which the dues are derived. Typically, the Reserve contribution makes up 15% - 40% of the association’s total budget. Therefore, Reserves is considered to be a significant part of the overall monthly association payment. Every association conducts its business within a budget. There are typically two main parts to this budget, Operating and Reserves. The Operating budget includes all expenses that are fixed on an annual basis. These would include management fees, maintenance fees, utilities, etc. The Reserves is primarily made up of Capital Replacement items such as asphalt, roofing, fencing, mechanical equipment, etc., that do not normally occur on an annual basis. The Reserve Analysis is also broken down into two different parts, the Physical Analysis and the Financial Analysis. The Physical Analysis is information regarding the physical status and replacement cost of major common area components that the association is responsible to maintain. It is important to understand that while the Component Inventory will remain relatively “stable” from year to year, the Condition Assessment and Life/Valuation Estimates will most likely vary from year to year. You can find this information in the Asset Inventory Section (Section 2) of this Reserve Analysis. The Financial Analysis Section is the evaluation of the association’s Reserve balance, income, and expenses. This is made up of a finding of the clients current Reserve Fund Status (measured as Percent Funded) and a recommendation for an appropriate Reserve Allocation rate (also known as the Funding Plan). You can find this information in Section 3 (pages 1 – 13) of this Reserve Analysis. The purpose of this Reserve Analysis is to provide an educated estimate as to what the Reserve Allocation needs to be. The detailed schedules will serve as an advanced warning that major projects will need to be addressed in the future. This will allow the Board of Directors to have ample timing to obtain competitive estimates and bids that will result in cost savings to the individual homeowners. This will also ensure the physical well being of the property and ultimately enhance each owner’s investment, while limiting the possibility of unexpected major projects that may lead to Special Assessments. It is important for the client, homeowners, and potential future homeowners to understand that the information contained in this analysis is based on estimates and assumptions gathered from various sources. Estimated life expectancies and cycles are based upon conditions that were readily visible and accessible at time of the observation. No destructive or intrusive methods (such as entering the walls to inspect the condition of electrical wiring, plumbing lines, and telephone wires) were performed. In addition, environmental hazards (such as lead paint, asbestos, radon, etc.), construction defects, and acts of nature have not been investigated in the preparation of this report. If problem areas were revealed, a reasonable effort has been made to include these items within the report. While every effort has been made to ensure accurate results, this report reflects the judgment of Aspen Reserve Specialties and should not be construed as a guarantee or assurance of predicting future events. 1 General Information and Answers to Frequently Asked Questions – Why is it important to perform a Reserve Study? As previously mentioned, the Reserve allocation makes up a significant portion of the total monthly dues. This report provides the essential information that is needed to guide the Board of Directors in establishing the budget in order to run the daily operations of your association. It is suggested that a third party professionally prepare a Reserve Study since there is no vested interest in the property. Also, a professional knows what to look for and how to properly develop an accurate and reliable component list. Now that we have “it”, what do we do with “it”? Hopefully, you will not look at this report and think it is too cumbersome to understand. Our intention is to make this Reserve Analysis very easy to read and understand. Please take the time to review it carefully and make sure the “main ingredients” (asset information) are complete and accurate. If there are any inaccuracies, please inform us immediately so we may revise the report. Once you feel the report is an accurate tool to work from, use it to help establish your budget for the upcoming fiscal year. The Reserve allocation makes up a significant portion of the total monthly dues and this report should help you determine the correct amount of money to go into the Reserve fund. Additionally, the Reserve Study should act as a guide to obtain proposals in advance of pending normal maintenance and replacement projects. This will give you an opportunity to shop around for the best price available. The Reserve Study should be readily available for Real Estate agents, brokerage firms, and lending institutions for potential future homeowners. As the importance of Reserves becomes more of a household term, people are requesting homeowners associations to reveal the strength of the Reserve fund prior to purchasing a condominium or townhome. How often do we update or review “it”? Unfortunately, there is a misconception that these reports are good for an extended period of time since the report has projections for the next 30 years. Just like any major line item in the budget, the Reserve Analysis should be reviewed each year before the budget is established. Invariably, some assumptions have to be made during the compilation of this analysis. Anticipated events may not materialize and unpredictable circumstances could occur. Aging rates and repair/replacement costs will vary from causes that are unforeseen. Earned interest rates may vary from year to year. These variations could alter the content of the Reserve Analysis. Therefore, this analysis should be reviewed annually, and a property observation should be conducted at least once every three years. Is it the law to have a Reserve Study conducted? The Government requires reserve analyses in approximately 20 states. The State of Colorado currently requires all associations to adopt a Reserve policy, but does not currently enforce a Reserve Study is completed. Despite enacting this current law, the chances are also very good the documents of the association require the association to have a Reserve fund established. This may not mean a Reserve Analysis is required, but how are you going to know there are enough funds in the account if you don’t have the proper information? Hypothetically, some associations look at the Reserve fund and think $50,000 is a lot of money and they are in good shape. What they don’t know is the roof will need to be replaced within 5 years, and the cost of the roof is going to exceed $75,000. So while $50,000 sounds like a lot of money, in reality it won’t even cover the cost of a roof, let alone all the other amenities the association is responsible to maintain. 2 What makes an asset a “Reserve” item versus an “Operating” item? A “Reserve” asset is an item that is the responsibility of the association to maintain, has a limited Useful Life, predictable Remaining Useful Life expectancies, typically occurs on a cyclical basis that exceeds 1 year, and costs above a minimum threshold cost. An “operating” expense is typically a fixed expense that occurs on an annual basis. For instance, minor repairs to a roof for damage caused by high winds or other weather elements would be considered an “operating” expense. However, if the entire roof needs to be replaced because it has reached the end of its life expectancy, then the replacement would be considered a Reserve expense. The GREY area of “maintenance” items that are often seen in a Reserve Study – One of the most popular questions revolves around major “maintenance” items, such as painting the buildings or seal coating the asphalt. You may hear from your accountant that since painting or seal coating is not replacing a “capital” item, then it cannot be considered a Reserve issue. However, it is the opinion of several major Reserve Study providers that these items are considered to be major expenses that occur on a cyclical basis. Therefore, it makes it very difficult to ignore a major expense that meets the criteria to be considered a Reserve component. Once explained in this context, many accountants tend to agree and will include any expenses, such as these examples, as a Reserve component. The Property Observation – The Property Observation was conducted following a review of the documents that were established by the developer identifying all common area assets. In some cases, the Board of Directors at some point may have revised the documents. In either case, the most current set of documents was reviewed prior to inspecting the property. In addition, common area assets may have been reported to Aspen Reserve Specialties by the client, or by other parties. Estimated life expectancies and life cycles are based upon conditions that were readily accessible and visible at the time of the observation. We did not destroy any landscape work, building walls, or perform any methods of intrusive investigation during the observation. In these cases, information may have been obtained by contacting the contractor or vendor that has worked on the property. The Reserve Fund Analysis – We projected the starting balance from taking the most recent balance statement, adding expected Reserve contributions for the rest of the year, and subtracting any pending projects for the rest of the year. We compared this number to the ideal Reserve Balance and arrived at the Percent funded level. Measures of strength are as follows: 0% - 30% Funded – Is considered to be a “weak” financial position. Associations that fall into this category are subject to Special Assessments and deferred maintenance, which could lead to lower property values. If the association is in this position, actions should be taken to improve the financial strength of the Reserve Fund. 31% - 69% Funded – The majority of associations are considered to be in this “fair” financial position. While this doesn’t represent financial strength and stability, the likelihood of Special Assessments and deferred maintenance is diminished. Effort should be taken to continue strengthening the financial position of the Reserve fund. 70% - 99% Funded – This indicates financial strength of a Reserve fund and every attempt to maintain this level should be a goal of the association. 100% Funded – This is the ideal amount of Reserve funding. This means that the association has the exact amount of funds in the Reserve account that should be at any given time. 3 Summary of Idyllwilde Master AssociationProjected Starting Balance as of January 1, 2012 Ideal Reserve Balance as of January 1, 2012 Percent Funded as of January 1, 2012 Recommended Reserve Allocation (per month) Minimum Reserve Allocation (per month) Recommended Special Assessments - Association ID # - 08344 $131,414 $585,774 22% $11,865 $10,500 $0 Information to complete this Reserve Analysis was gathered during a multiple visit property observation of the common area elements on June 29, August 8, and September 23, 2011. In addition, we obtained information by contacting local vendors and contractors, as well as communicating with the property representatives (community manager), ACCU, Inc. To the best of our knowledge, the conclusions and suggestions of this report are considered reliable and accurate insofar as the information obtained from these sources. This property currently contains 247 single family detached homes within a community that has been constructed over the past 7 years. For purposes of this report, the majority of the common areas and amenities were built at the beginning stages of development. Common area amenities the association is responsible to maintain include the Grand Hall recreation building, Pump House pool mechanical building, pool, pool amenities, fitness center, observation tower, landscaped areas, mailbox units and other community amenities such as monument signs, parks and nature paths. Please refer to pages 14 - 17 of the Financial Analysis section for a list of when components are scheduled to be addressed. In comparing the projected balance of $131,414 versus the ideal Reserve Balance of $585,774, we find the association Reserve fund to be in a less than ideal financial position at this point in time (approximately 22% funded of ideal). Most associations in this position are typically susceptible to Special Assessments and deferred maintenance, which can lead to lower property values. However, due to the young age of the community, this can be avoided as long as our recommendation is followed. As a result of the information contained in this report, we find the current budgeted Reserve allocation ($2,690 per month) to be less than adequate in increasing the strength of the Reserve fund to prepare for future projects. Therefore, we are recommending an increase of the Reserve contribution to $11,865 per month effective immediately; followed by nominal annual increases of 3.55% thereafter to help offset the effects of inflation. By following the recommendation, the plan will increase the Reserve account to the fully funded position within the thirty-year period. In the percent Funded graph, you will see we have also provided a “minimum Reserve contribution” of $10,500 per month. If the Reserve contribution falls below this rate, then the Reserve fund will fall into a situation where additional Special Assessments, deferred maintenance, and lower property values are possible at some point in the future. The minimum Reserve allocation follows the “threshold” theory of Reserve funding where, ”percent funded” status is not allowed to dip below 30% funded at any point during the thirty-year period. This was provided for one purpose only, to show the association how small the difference is between the two scenarios and how it would not make financial sense to contribute less money to the Reserve fund to only stay above a certain threshold. As you can see, the difference between the two scenarios is considered to be minimal, and based on the risk, we strongly suggest the recommended Reserve Allocation is followed. 4 Component Inventory for Idyllwilde Master Association Comp #: 105 Client Reference # 8344 Comp Shingle Roof - Replace Observations: This roof appears to be a "30-year" rated shingle. Despite this rating, replacement typically needs to occur within 15 - 20 years due to weather elements such as hail, wind, and temperature fluctuations. It is not recommended that an overlay is applied when a roof needs to be replaced. With overlays, it may cause further damage from hailstones due to being a softer surface and wind due to uneven surfaces. Therefore, Reserve funding includes complete tearoff and replacement. Remaining life based on observed conditions and age. Location: Grand Hall Quantity: Approx. 24 squares Life Expectancy: 20 Remaining Life: 13 General Notes: NOTE: Due to height of building and distance from any vantage point, proper pictures of Grand Hall Comp shingle roof were impossible to take. Therefore, no picture of roof is included with this component. $7,800 $325/square; Estimate to remove and replace Best Cost: Worst Cost: $8,400 $350/square; Higher estimate for more labor costs Source of Information: Cost Database Page 1 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 108 Client Reference # 8344 Metal Roof - Replace Observations: There are no unusual conditions evident with the metal roof. This roof material has an extended life expectancy of approximately 30 years. The main concern for damage is from dents and dings as a result of hail. This is a cosmetic issue, and since the roof is not visible to those other than accessing the roof, assume aesthetics will not play a part in replacing these roofs. We recommend reserving to replace the steel roofs every 30 years to ensure proper drainage and to protect from leaks. Remaining life is based on observed conditions and age. Location: Grand Hall and Ancilliary Structures Quantity: Approx. 99 Squares Life Expectancy: 30 Remaining Life: 23 $99,000 $1000/square; Estimate to replace w/ 24 guage Best Cost: General Notes: Skylark Park - 3 squares Observation Deck - 5 squares Map Monument - 2 squares Grand Hall - 49 squares Pump House - 14 squares Large Gazebo - 5 squares Smaller Gazebos 8 squares each x 2 = 16 squares Greenbelt off Wanderlust Way - 5 squares Worst Cost: $118,800 $1200/square; Higher estimate for thicker metal Source of Information: Cost Database Page 2 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 120 Client Reference # 8344 Gutter/Downspout - Replace Observations: No unusual conditions observed at time of observation. It appears the lines were installed with a proper slope to allow for adequate drainage. We recommend annual cleaning operations to clear gutters and downspouts of debris, leaves, roof granules, etc. in order to ensure proper drainage of roof. All gutters/downspouts should be replaced at the same time in order to receive favorable cost estimates based on quantity. Remaining life is based on observed conditions and age. Location: Grand Hall Quantity: Approx. 640 LF Life Expectancy: 20 Remaining Life: 13 $3,360 $5.25/LF; Estimate to replace Best Cost: General Notes: Grand Hall r/g - 245 LF d/s - 135 LF Large Gazebo r/g - 60 LF d/s - 30 LF Smaller Gazebos r/g - 60 LF each x 2 = 120 LF d/s - 25 LF each x 2 = 50 LF Worst Cost: $3,840 $6.00/LF: Higher estimate for larger lines Source of Information: Cost Database Page 3 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 201 Client Reference # 8344 Concrete - Repaint Observations: We do not recommend individual reserve allocation for this component as the repainting of the concrete floor should occur at the same time as the other interior surfaces (see component #216). Do not reserve to paint concrete surfaces at this time. Location: Grand Hall Quantity: Approx. 450 GSF Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: lower level corridor - 350 GSF lifeguard office - 100 GSF Source of Information: Page 4 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 207 Client Reference # 8344 Pool Iron Fence - Repaint Observations: Fence is in need of paint as soon as possible. Paint is faded, thin and bare metal is apparent in many locations. Painting fence is recommended every 3 - 4 years to protect the metal from rusting and failing. Reserve to repaint this fence every 4 years. Remaining useful life is based on observed conditions and age. Location: Pool Enclosure Quantity: Approx. 570 LF Life Expectancy: 4 General Notes: pool fencing includes (5) 5' x 5' gates, 2 w/key fob lock Remaining Life: 0 $2,425 $4.25/LF; Estimate to repaint fence Best Cost: Worst Cost: $2,850 $5.00/LF; Higher estimate for additional prep costs Source of Information: Cost Database Page 5 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 215 Client Reference # 8344 Wood Panel Siding - Repaint Observations: Exterior paint appeared faded and thin on majority of surfaces, especially on Southern and Western facing walls. We recommend painting the Pump House and Grand Hall this fiscal year in order to protect the wood siding and restore appearance. Darker colors were used for trim and accents and may need to be touched up between paint cycles due to darker colors fading faster, do this using operating expenses. Reserve to repaint building exteriors every 5 years. Remaining life is based on observed conditions and age. Location: Building Exterior Quantity: Approx. 7,510 GSF Life Expectancy: 5 General Notes: Grand Hall - 5,420 GSF Pool Pump House - 2,090 GSF Remaining Life: 0 $37,500 Estimate to repaint 2 buildings every 5 yrs Best Cost: Worst Cost: $45,000 Higher estimate for more prep work Source of Information: Cost Database Page 6 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 216 Client Reference # 8344 Interior Surfaces - Repaint/Restain Observations: Interior paint appeared in fair condition with some local marking and fading noted at time of observation. The lower level of the Grand Hall was in the worst condition; most likely cause is increased use compared to the rest of the building. The interior siding appeared in good condition, but according to most manufacturers and painters, interior siding should be treated every 10 years in order to conserve appearance. We recommend staining and painting at the same time in order to receive favorable cost estimates based on quantity and scope of work. Remaining life is based on observed conditions and age. Location: Grand Hall Quantity: Approx. 13,465 GSF Life Expectancy: 10 Remaining Life: 3 $10,800 $.80/GSF; Estimate to repaint Best Cost: Worst Cost: $12,800 $.95/GSF; Higher estimate Source of Information: Cost Database General Notes: Foyer Walls - 1,125 GSF (wd siding) Ceiling - 595 GSF (wd T&G) "Community Rancher" Office Walls - 400 GSF (gyp), Ceiling - 130 GSF (gyp) Kitchen Walls - 220 GSF (gyp), Ceiling - 125 GSF (gyp) "Hayloft" stairway Walls - 660 GSF (gyp), Ceiling - 135 GSF (gyp) "Hayloft" Walls - 905 GSF (wood siding) Ceiling - 510 GSF (wood T&G) Lower Level Corridor Walls - 1,110 GSF (gyp), Ceiling - 350 GSF (gyp) Fitness Center Walls - 1,425 GSF (gyp), Ceiling - 1,095 GSF (gyp) Lifeguard Office Walls - 360 GSF (gyp), Ceiling - 100 GSF (gyp) Banquet Hall Walls - 2,635 GSF (wood siding) Ceiling - 1,125 GSF (wood T&G) Supply Room Walls - 340 GSF (gyp), Ceiling - 120 GSF (gyp) Page 7 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 305 Client Reference # 8344 Wood Panel Siding - Major Repairs Observations: This line item is to address the eventual need to make repairs that go beyond normal prep work for paint. As the buildings age, more noticeable damage will be apparent whether the cause is weather (hail, wind, etc.) or UV and moisture damage. We recommend planning to make major siding repairs frequently in order to conserve the appearance of the buildings. Remaining life is based on observed conditions and age. Location: Building Exterior Quantity: Approx. 7,510 GSF Life Expectancy: 15 General Notes: Grand Hall - 5,420 GSF Pool Pump House - 2,090 GSF Remaining Life: 5 $12,000 Allowance for major repairs every 15 years Best Cost: Worst Cost: $15,000 Higher allowance for more repairs Source of Information: Cost Database Page 8 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 309 Client Reference # 8344 Stone/Rock Siding - Major Repairs Observations: Stone/rock veneer is considered a "life-time" material and should not have to be replaced. We recommend monitoring stone elements throughout the community and making repairs as needed with operating funds. However, we do not recommend reserving to replace or to do major repairs at this time. Location: Grand Hall Quantity: Approx. 2,010 GSF Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Banquet Room - 200 GSF Grand Hall exterior - 1,440 GSF columns on North and South side of Canterberry at Idyllwilde Dr. 370 GSF Source of Information: Page 9 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 401 Client Reference # 8344 Asphalt - Overlay Observations: The overall integrity of the asphalt is in good condition and free from any major cracks or settling. Depending on traffic, maintenance levels, and snow removal techniques (plow, sand, snow melt, etc.), the life of asphalt should range between 20 - 24 years. The remaining life is based on observed conditions. Location: Grand Hall Parking Lot Quantity: Approx. 12,825 GSF Life Expectancy: 24 General Notes: Remaining Life: 17 $19,250 $1.50/GSF; Est. to rotomill and 2" overlay Best Cost: Worst Cost: $21,150 $1.65/GSF; Higher estimate for add'tl Repairs Source of Information: Cost Database Page 10 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 402 Client Reference # 8344 Asphalt - Seal Coat/crack fill Observations: Asphalt is in need of seal coat this fiscal year to maintain the good condition existing at time of observation. Expect to seal asphalt every 2 - 3 years, depending on traffic levels and effects from weather. Seal coating is applied to protect the asphalt from ultra-violet rays and water. This helps in slowing the process of oxidation and raveling. Remaining life is based on observed conditions and age. Location: Grand Hall Parking Lot Quantity: Approx. 12,825 GSF Life Expectancy: 3 General Notes: Remaining Life: 0 $1,500 Minimum trip charge Best Cost: Worst Cost: $1,795 Higher for more repairs/labor Source of Information: Cost Database Page 11 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 403 Client Reference # 8344 Concrete - Repair/Replace Observations: Since it is unlikely that all concrete surfaces will fail at the same time, we suggest establishing a Reserve fund for periodic repairs and replacement to approximately 20% of the total area (850 GSF) every 6 years. Repairs should be coordinated with other concrete and asphalt surfaces for best cost estimate since most asphalt companies can also perform concrete work. Remaining life based on observed conditions and age. Location: Grand Hall Parking Lot Quantity: Approx. 4,255 GSF Life Expectancy: 6 Remaining Life: 3 $7,650 Estimate to repair 20% of area every 6 years Best Cost: General Notes: Grand Hall Trash Enclosure Driveway - 220 GSF Trash Enclosure Pad - 200 GSF Curb/gutter/drain pan Drain Swale - 715 GSF Curb and Gutter - 2,615 GSF Spring Fawn Park Drain Swale (off drive) - 505 GSF Worst Cost: $8,075 Higher allowance for more repairs Source of Information: Cost Database Page 12 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 405 Client Reference # 8344 Stamped Concrete - Repair/Replace Observations: Concrete in this line item is stamped and colored. Dyed/colored concrete is made in batches at the plant and then sent out in one shipment to one location. Due to this process and the effects of the elements, it is extremely difficult to repair or replace these areas with matching concrete. Attempts to do so typically result in a mottled, unappealing look. Therefore, we recommend reserving for complete replacement of all stamped concrete every 18 years. If deterioration rates change, we can adjust the frequency of replacement in future updates of this report. Remaining useful life is based on observed conditions. Location: Grand Hall Pool Deck/Patio/Gazebo Quantity: Approx. 4,805 GSF Life Expectancy: 18 Remaining Life: 11 General Notes: Grand Hall Area - 600 GSF Pump House exterior - 225 GSF Large Gazebo - 1,590 GSF Pool Deck - 2,390 GSF $62,465 $13.00/GSF Estimate to Replace Best Cost: Worst Cost: $76,880 $16.00/GSF Higher Estimate to Replace Source of Information: Cost Database Page 13 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 405 Client Reference # 8344 Colored Concrete - Repair/Replace Observations: Dyed/colored concrete is made in batches at the plant and then sent out in one shipment to one location. Due to this process and the effects of the elements, it is extremely difficult to repair or replace these crosswalks with matching concrete. Therefore, we recommend reserving for complete replacement of all stamped concrete crosswalks every 18 years. Remaining useful life is based on observed conditions. Location: Grand Hall Parking Lot Quantity: Approx. 215 GSF Life Expectancy: 18 General Notes: Parking Lot - 215 GSF Remaining Life: 11 $2,580 $12.00/GSF Estimate to Replace Best Cost: Worst Cost: $3,010 $14.00/GSF Higher Estimate to Replace Source of Information: Cost Database Page 14 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 501 Client Reference # 8344 Doors - Replace Observations: All doors appeared in good condition with no problems noted at the time of inspection. The average replacement cycle for doors ranges between 15 and 20 years under normal conditions and proper maintenance. We recommend replacing these doors every 20 years to maintain a consistent appearance throughout the property. However, the board of directors has elected to replace doors as needed using operating expenses. Expect to spend $19,000 to $20,000 for complete replacement of doors on this property. Location: Grand Hall and Pump House Quantity: Approx. (28) Doors Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Foyer - (4) 3 x 7 doors Lower Level Corridor - (7) 3 x 7 doors Grand Hall exterior doors- (13) 3 x 8 doors Pump House - (4) 3 x 7 doors Source of Information: Page 15 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 503 Client Reference # 8344 Utility Doors - Replace Observations: These doors were working properly and in good condition. Like other doors on the property, a useful life of 15 - 20 years is expected with proper maintenance and under normal conditions. These doors may have a longer useful life as they are only used regularly during Summer months. Due to the low quantity and the relatively low cost of replacement, (under $1200) we do not recommend reserving to replace at this time. Location: Pump House Quantity: (2) 3 x 8 doors Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: utility doors on pool pump house are track-sliding doors Source of Information: Page 16 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 506 Client Reference # 8344 Windows - Replace Observations: Windows appeared to be in good condition with no problems reported or noted at time of observation. We recommend replacing windows every 20 years to keep up with advances in fenestration technology, (insulation values) property appearance and functionality. All windows should be replaced at the same time for the same reasons. Remaining life is based on observed conditions and age. Location: Grand Hall Quantity: Approx. (59) openings Life Expectancy: 20 General Notes: "Community Rancher" Office - (2) interior windows Grand Hall exterior - (55) windows Pump House exterior - (2) windows Remaining Life: 13 $38,350 $650/opening; Estimate to replace Best Cost: Worst Cost: $44,250 $750/opening; Higher estimate for better quality Source of Information: Cost Database Page 17 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 601 Client Reference # 8344 Concrete Sidewalks - Repair Observations: While it is unlikely that all concrete surfaces will fail and need to be replaced at the same time, frequent repairs and replacement to a percentage of the area (10% or 3,650 GSF), should be anticipated every 6 years. Reserving for the replacement/repair of 10% of the gross area and doing so on this timeline will allow for the best cost estimate possible due to the volume and the coordination of other concrete components in this report. Remaining useful life is based on age and observed conditions. Location: Common Areas Quantity: Approx. 36,545 GSF Life Expectancy: 6 Remaining Life: 3 $32,850 Allowance to repair 10% of area every 6 years Best Cost: Worst Cost: $34,675 Higher estimate for more repairs General Notes: Grand Hall Parking Lot - 3,135 GSF Grand Hall - 2,750 GSF E. Stroll Ave to 21779 (alleyway) - 425 GSF Skylark Park - 3,495 GSF Grand Hall Green Belt - 1,220 GSF Greenbelt from Tallkid to Stroll - 810 GSF Spring Fawn Park - 5,855 GSF Wanderlust Pl. to Tallman Gulch Trail - 2,240 GSF Tallkid Ave to E Stroll Ave. - 1,025 GSF Saunter Ln. to Saunter Ct. - 1,660 GSF Tallkid Ct. to Tallman Gulch Trail - 12,560 GSF Wanderlust Way to Tallkid Ave. - 1,375 GSF Source of Information: Cost Database Page 18 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 602 Client Reference # 8344 Limestone Pathway - Repair Observations: These pathways or "pads" are constructed of materials that are considered "life-time" materials. We do not expect these areas to have to be replaced in the foreseeable future. Therefore, do not reserve for complete replacement. Monitor areas for missing or cracked mortar and broken stones and repair using operating funds as needed. Location: Grand Hall Area Quantity: Approx. 1,650 GSF Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Source of Information: Page 19 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 604 Client Reference # 8344 Brick Pavers - Resurface Observations: Walkways constructed of brick pavers need frequent repairs and occasionally complete removal and replacement will need to be done to remove organics and to repair settlement issues. However, the low quantity and cost does not warrant specific reserve funding for major repairs or replacement. Monitor and repair as needed with operating funds. Location: Grand Hall Area Quantity: Approx. 165 GSF Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Source of Information: Page 20 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 606 Client Reference # 8344 Wood Deck - Reseal Observations: The actual decking appeared in good to fair condition at time of observation, however, decking is severely dry and in need of being treated this fiscal year. We recommend resealing decks every 3 years to protect the wood from weather, traffic and UV rays. Ultimately, resealing on a frequent schedule will allow for the wood decking to reach its expected useful life of 20 - 25 years. Remaining life is based on observed conditions and age. Location: Grand Hall and Observation Deck Quantity: Approx. 1,055 GSF Life Expectancy: 3 General Notes: Observation Deck - 305 GSF (incl stairs) Grand Hall - 750 GSF Remaining Life: 0 $1,580 $1.50/SF; Estimate to reseal Best Cost: Worst Cost: $1,850 $1.75/SF; Higher estimate for more labor Source of Information: Cost Database Page 21 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 607 Client Reference # 8344 Wood Deck - Replace Observations: The actual decking appeared in good to fair condition at time of observation, however, decking is severely dry and in need of being treated this fiscal year. We recommend resealing decks every 3 years to protect the wood from weather, traffic and UV rays. Ultimately, resealing on a frequent schedule will allow for the wood decking to reach its expected useful life of 20 - 25 years. At time of deck replacement, have a professional inspect the structural members for correct performance; repair if necessary. Remaining life is based on observed conditions and age. Location: Grand Hall and Observation Deck Quantity: Approx. 1,055 GSF Life Expectancy: 25 General Notes: Observation Deck - 305 GSF (incl stairs) Grand Hall - 750 GSF Remaining Life: 18 $31,650 $30/GSF; Estimate to replace decking Best Cost: Worst Cost: $36,925 $35/GSF; Higher estimate to upgrade decking Source of Information: Cost Database Page 22 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 610 Client Reference # 8344 Metal Stairs/landing - Replace Observations: The stairway to the water slide appeared in good condition with no problems reported or noted at time of observation. Typical useful life for steel stair structures is between 25 and 30 years. Expect to paint this structure every 3 - 4 years as an operating expense. Remaining useful life is based on assumed age and observed conditions. Location: Water Slide Quantity: (1) Metal Stairway Life Expectancy: 30 General Notes: Steel stair structure steel railing - 55 LF metal stairs and landing = 70 GSF (10 total treads) Remaining Life: 23 $10,000 Estimate to Replace Best Cost: Worst Cost: $12,000 Higher estimate for more labor Source of Information: Cost Database Page 23 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 703 Client Reference # 8344 Water Heater Tank - Replace Observations: Heater is approximately 7 years old, with no problems reported or noted at the time of inspection. Expect a useful life of approximately 12 - 15 years from this component. We suggest draining the heater once a year to clean it out for maximum life expectancy. Remaining life is based on age and observed condition. Location: Grand Hall Quantity: Approx. (1) Water Heater Life Expectancy: 12 General Notes: Bradford White water heater m/n: BK6842989 Remaining Life: 5 $3,200 $3200/tank; Est for 120 Gallon storage tank Best Cost: Worst Cost: $3,500 $3500/heater; Higher estimate for more labor Source of Information: Cost Database Page 24 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 705 Client Reference # 8344 HVAC System - Replace Observations: No reported problems with operation of units. In our experience, we have seen the need to replace these units every 20 25 years, depending on the level of use and maintenance. Most association buildings that are used heavily, like this one, can be suspect to a shorter life expectancy. However, elements of the Grand Hall system appeared in better than typical condition as compared to similar properties of the same age. Closely monitor system and repair as needed with operating funds. Remaining life based on observed conditions and age. Location: Grand Hall Quantity: See General Notes Life Expectancy: 25 Remaining Life: 18 $25,000 Estimate to replace HVAC system Best Cost: General Notes: (3) Carrier furnaces w/Honeywell Humidifiers (5) Carrier AC condensers A) s/n: 1506E06617, m/n: 25HCA336A300 B) s/n: 4305E30021, m/n: 38CKC060570 C) s/n: 4205E46386, m/n: 38CKC048570 D) s/n: 4005E44686, m/n: 38CKC036550 E) s/n: 4504E43327, m/n: 38CKC036550 Worst Cost: $30,000 Higher estimate for more efficient system Source of Information: Cost Database Page 25 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 709 Client Reference # 8344 Elevator Cab - Remodel Observations: Elevator cab is in fair condition. Minor scuffing and marking noted on elevator walls but no significant appearance concerns observed. Expect to remodel cab approximately every 15 years to maintain appearance and keep up with current decorative tastes. Location: Grand Hall Quantity: (1) Elevator Cab Life Expectancy: 15 Remaining Life: 8 General Notes: Otis 2 stop elevator cab 4 x 5 lighted ceiling panel carpet - 20 GSF Formica wall panels - 90 GSF $12,000 $12000/cab; Estimate for a basic remodel Best Cost: Worst Cost: $15,000 $15000/cab; Higher estimate Source of Information: Cost Database Page 26 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 802 Client Reference # 8344 Maps - Replace Observations: The roof of the map structure is the same as the roof on the Grand Hall, Pool Pump House and the gazebos and should be replaced along with those roofs. This structure is built using heavy timber and should have an indefinite life expectancy if properly maintained. We recommend sealing the exposed wood elements every 3 - 4 years using operating funds. The steel sign is in good condition and protected from direct exposure from the elements. Acrylic has the propensity to "cloud-up" from UV rays and may also be a target for vandalism. Due to unpredictable events and the nature of acrylic panes, we recommend replacing with operating funds. Reserve to replace map and other elements of the structure every 25 years to maintain appearances and match current trends. Location: Grand Hall Parking Lot Quantity: (1) Map Monument/Bulletin Board Life Expectancy: 25 Remaining Life: 18 $15,000 Estimate to replace Best Cost: Worst Cost: $18,000 Higher estimate for bigger map General Notes: Map/bulletin board structure is heavy timber construction on stone pylons with the following components therein: (1) 5 x 6 steel frame w/plex (2) decorative lantern-style wall mount lights corrugated steel roof (incl. with roof component) stone veneer - 50 GSF NOTE: For information pertaining to the roof of this structure, see component #108: Metal Roof - Replace. Source of Information: Cost database Page 27 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 803 Client Reference # 8344 Mailboxes - Replace Observations: No unusual conditions observed at time of inspection. According to the manufacturer, these boxes will have a life expectancy of 18 - 20 years. Due to extensive quantity of mailboxes, we recommend replacing a portion of the CBU's (25% or 11 units) every 8 years; this method will help ease budgeting concerns. If deterioration rates change, we can adjust frequency or quantity in future updates of this report. Remaining life is based on age and observed condition. Location: Grand Hall Parking Lot Quantity: Approx. (43) CBU's Life Expectancy: 8 Remaining Life: 5 $18,150 $1650/CBU; Estimate to replace Best Cost: Worst Cost: $19,800 $1800/CBU; Higher estimate for better quality Source of Information: Cost Database General Notes: Grand Hall (1) 8 box CBU, 1 out, 2 parcel - (2007) Idyllwilde Dr. (9) 13 box CBU's, 1 out, 1 parcel - (2006) E. Stroll Ave. (12) 13 box CBU's, 1 out, 1 parcel - (2007) E. Tallkid Ave. (6) 13 box CBU's, 1 out, 1 parcel - (2005) E Tallkid Ct. (2) 13 box CBU's, 1 out, 1 parcel - (2005) Wanderlust Wy. (2) 13 box CBU's, 1 out, 1 parcel - (2005) Wanderlust Pl. (4) 13 box CBU's, 1 out, 1 parcel - (2005) Hidden Trail Dr. (4) 13 box CBU's, 1 out, 1 parcel - (2006) Saunter Ln. (3) 13 box CBU's, 1 out, 1 parcel - (2006) Page 28 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 805 Client Reference # 8344 Monument - Rebuild (Hess and Canterberry) Observations: Monument and stone structures appeared in good condition and should not need to be replaced based on deterioration factors. However, we recommend reserving to update the community monument signs every 20 - 25 years in order to keep up with current trends. Maintain light fixtures and lighted sign using operating funds. Remaining life based on age of community. Location: Main Community Entrance Quantity: (1) Sign, (3) Stone Monuments Life Expectancy: 25 Remaining Life: 18 $35,000 Estimate to replace Best Cost: Worst Cost: $40,000 Higher estimate for larger sign General Notes: Canterberry and Hess East side of Canterberry stone veneer - 4,270 GSF (2) large, decorative light sconces (2) overhead lights West side of Canterberry stone veneer - 4,740 GSF (2) large, decorative light sconces (2) overhead lights lighted community marker - "Idyllwilde" Source of Information: Cost Database Page 29 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 806 Client Reference # 8344 Monument - Rebuild (North entrance) Observations: Monument and stone structure appeared in good condition and should not need to be replaced based on deterioration factors. However, we recommend reserving to update the community monument signs every 20 - 25 years in order to keep up with current trends. Sign may need to be painted soon to curb the effects of peeling/chipping paint. Maintain light fixtures and paint sign using operating funds. Remaining life based on age of community. Location: Canterberry at North Boundary of Prop Quantity: (1) Monument Life Expectancy: 25 Remaining Life: 18 $15,000 Estimate to replace sign Best Cost: General Notes: Monument includes the following lodge pole rail fence - 75 LF stone work - 480 GSF 2.5' x 10' sign - "Idyllwilde" wood cross members - 10" x 6" lumber 10" x 10" posts (4) uplights Worst Cost: $20,000 Higher estimate for larger sign Source of Information: Cost Database Page 30 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 807 Client Reference # 8344 Monument - Rebuild ("Community Center") Observations: Structure is in good condition and very stable. While the materials used should have an indefinite life expectancy, we recommend planning on renovating monument every 20 - 25 years to maintain current trends and an appropriate appearance for the entrance to the community. Maintain sign and lights using operating funds. Remaining life is based on current age of community. Location: Canterberry and Idyllwilde Dr. Quantity: (1) Monument Life Expectancy: 25 Remaining Life: 18 $10,000 Estimate to replace Best Cost: General Notes: Monument Includes stone work - 445 GSF wood cross members - 10" x 6" lumber (2) metal signs - "Idyllwilde Community Center" (3) uplights (1) large decorative sconce Worst Cost: $12,000 Higher estimate for larger sign Source of Information: Cost Database Page 31 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 808 Client Reference # 8344 Monument - Rebuild (Deer Diorama) Observations: Structure is in good condition and very stable. While the materials used should have an indefinite life expectancy, we recommend planning on renovating monument every 20 - 25 years to maintain current trends and an appropriate appearance for the entrance to the community. Maintain diorama and lights using operating funds. Remaining life is based on current age of community. Location: Canterberry and Idyllwilde Dr. Quantity: (1) monument Life Expectancy: 25 Remaining Life: 18 General Notes: Monument includes stone work - 305 GSF (1) large decorative sconce (1) uplight $15,000 Estimate to replace Best Cost: Worst Cost: Higher estimate $20,000 Source of Information: Cost Database Page 32 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 809 Client Reference # 8344 Monument - Rebuild (facility signs) Observations: Monuments are stable and in good condition with minimal signs of deterioration. While the structure should have an indefinite life expectancy, we recommend reserving to replace these monuments every 20 - 25 years to maintain current trends and community entrance appearances. Signs need paint soon, perform using operating funds. Due to current consistent appearance of community signs, we recommend replacing all three signs at same time. Remaining life based on current age of community. Location: Grand Hall Entry Quantity: (3) Facility Monuments Life Expectancy: 25 Remaining Life: 18 $15,000 $5,000/monument; Estimate to replace Best Cost: General Notes: (1) "Grand Hall" (1) "Skylark Park" (1) "Spring Fawn Park" Monuments on this line item are built from rough cedar posts and steel sign stone veneer/conc. pylons - approx. 48 GSF (1) 2 x 6 painted sign Worst Cost: $15,600 $5,500/monument; Higher estimate Source of Information: Cost database Page 33 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 901 Client Reference # 8344 Fire Protection System - Replace Observations: System was not tested during inspection. There were no reports of any system malfunctions. System should be tested at least once a year by a professional. Advances in technology will require the panel to be replaced every 18 - 20 years. Once the wiring is installed, it should not have to be replaced in the future. Location: Grand Hall Fire Control Room Quantity: (1) Fire Panel Life Expectancy: 20 General Notes: Fire Panel Fire Warden-100 mfg - Notifier Remaining Life: 13 $3,500 $3500/Panel; Estimate to replace Best Cost: Worst Cost: $4,000 Higher estimate for additional parts Source of Information: Cost Database Page 34 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: 903 Client Reference # 8344 TV Security System - Replace Observations: This video surveillance system was in good condition at time of observation with no problems reported or noted. We have found that security systems can vary greatly depending on the level of sophistication. This 5 camera system can be obtained for as little as $900.00 or up to $3500.00. The life of one of these systems is hard to predict as components are not ever the same as another. We do not recommend reserving to replace this system due to unpredictable useful life and unpredictable cost. If you find later that reserving to replace this system is necessary, it can be added to future updates. Location: Grand Hall Quantity: (1) Video Surveillance System Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: "Hayloft" - (2) Cameras Banquet Room - (1) Camera Grand Hall exterior - (2) Cameras Lifeguard Office - (1) security system "brain" no model #'s or brand apparent, possibly Plextor Source of Information: Page 35 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1002 Wood and Steel Rail - Replace Observations: Railing appeared in good condition at time of observation. We recommend reserving to replace this particular rail system every 22 - 25 years based on maintenance levels. Similar to the perimeter fencing on the property, this railing is meant to appear natural. We do not believe that regular staining or painting is required. If you desire to paint this railing, do not separately reserve to paint, rather, include with the cost of painting the buildings. Remaining life is based on observed conditions and age. Location: Common Areas Quantity: Approx. 360 LF Life Expectancy: 25 General Notes: Grand Hall/Pool area - 255 LF Observation Deck - 105 LF Remaining Life: 18 $10,800 $30/LF; Estimate to replace Best Cost: Worst Cost: $12,600 $35/LF: Higher estimate Source of Information: Cost Database Page 36 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1004 Wood Handrails - Replace Observations: Due to low cost of replacement and small quantity of interior wood handrail, we do not recommend reserving to replace at this time. Location: Grand Hall Quantity: Approx.135 LF Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Foyer - 85 LF "Hayloft" stairway - 50 LF Source of Information: Page 37 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1005 Block Wall - Replace Observations: Concrete block walls are meant to be "lifetime" materials. There should never be a need to completely replace a block retaining wall as long as it was installed correctly regarding local building codes. Occasionally, blocks will be knocked loose by landscapers or vandalism. However, this type of damage is usually on a very small scale and can be fixed using operating funds. Do not reserve to replace block retaining walls at this time. Location: Common Areas Quantity: Approx. 1,570 GSF Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Skylark Park - 830 GSF End of Wanderlust Way - 280 GSF along path from Tallkid Ct. to Tallman Gulch Trail 460 GSF Source of Information: Page 38 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1006 Steel Rail - Replace Observations: Due to the location and fairly small quantity of steel rail, handle replacement and maintenance costs as an operating issue. This railing is protected by the roof and siding of the silo and should have an indefinite useful life. Reserve funding for replacement is not appropriate at this time. Location: Grand Hall Silo Staircase Quantity: Approx. 160 LF Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Grand Hall Silo - 160 LF Source of Information: Page 39 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1008 Pool Iron Fence - Replace Observations: Pool fence appeared in good condition with no damaged sections or other structural problems noted or reported at time of observation. This line item does not include repainting of the fence. The useful life of this type of fence is between 20 and 24 years. We recommend replacing this fence on a 24 year cycle. If deterioration rates change, frequency of replacement can be adjusted in future reports. Fence is in need of paint this fiscal year. Remaining useful life is based on observed conditions and age. Location: Pool Enclosure Quantity: Approx. 570 LF Life Expectancy: 24 General Notes: pool fencing includes (5) 5' x 5' gates, 2 w/key fob lock Remaining Life: 18 $17,100 $30/LF: Estimate to replace Best Cost: Worst Cost: $19,950 $35/LF: Higher estimate for more labor Source of Information: Cost Database Page 40 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1010 Trash Enclosures - Replace Observations: Stone veneer is included with other components. Expect frequent repairs and replacement to the gates and possibly the stone siding due to the exposure to elements and probability of abuse from rubbish companies. In our experience, we typically see the need for repairs every 5 - 10 years, depending on the level of abuse. Repairs should be handled using operating funds. We do not recommend reserve funding for this component. Location: Grand Hall Parking Lot Quantity: (1) Trash Enclosure Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: (2) 6' x 5' gates Stone Veneer on CMU's - approx. 230 GSF Source of Information: Page 41 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1011 Retaining Wall - Replace Observations: These walls are constructed of concrete walls with stone veneer applied to the surface. We do not anticipate either, the structural concrete or stone veneer, to need complete replacement. Stone veneer may need frequent, although, minor repairs to keep up appearances. Do not reserve to replace this component as the useful life falls outside the scope of this report. Location: Grand Hall/Pool Area Quantity: Approx. 1,065 GSF Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Grand Hall - 480 GSF Pump House - 175 GSF Large Gazebo - 340 GSF Pool Area - 70 GSF Source of Information: Page 42 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1101 Pool - Resurface Observations: The existing pool plaster is a Diamond Brite product. This product has a slightly longer useful life than other products. Standard pool plaster useful life is between 10 and 12 years. Diamond Brite has a typical useful life of 12 - 15 years but a higher cost of replacement. We recommend reserving to replace pool plaster every 15 years. This pool is only used during summer months, when the pool is emptied, consult with a pool maintenance professional regarding cleaning and maintenance on a yearly basis using operating funds. Remaining life of pool plaster is based on observed conditions and age. Location: Pool Surface Quantity: Approx. 7,140 GSF Life Expectancy: 15 General Notes: Remaining Life: 8 $85,680 $12.00/GSF; Estimate for diamond brite finish Best Cost: Worst Cost: $99,960 $14.00/GSF; Higher estimate for more labor Source of Information: Cost Database Page 43 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1104 Coping - Replace Observations: Stamped concrete coping matches the surrounding stamped concrete pool deck and replacement is included with component #405. Do not separately reserve to replace the pool coping, rather, replace along with pool deck every 18 years. Location: Pool Perimeter Quantity: Approx. 510 LF Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Source of Information: Page 44 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1105 Pool Heater - Replace Observations: During research with Front Range Pools, the following information was provided: The existing boiler is highly inefficient, in need of constant maintenance and nearing the end of it useful life. They recommended replacing this boiler with a more efficient and, "green" pool heater. The recommended replacement boiler is a 2.1 million BTU, Pentair Powermax, pool heater. With the installation of this boiler, it was reported that pool heating costs can be reduced by up to 30%. We recommend reserving to replace the existing boiler within the next 2 seasons. Remaining life is based on observed conditions and age. Location: Pump House Quantity: (1) Raypak Boiler Life Expectancy: 10 Remaining Life: 2 $25,000 Estimate to replace with similar type heater Best Cost: General Notes: Boiler Raypak m/n: P2500-N s/n: 0603063873 2,499,000 BTU in 2,049,180 BTU out Worst Cost: $29,000 Higher estimate for more labor Source of Information: Cost Database Page 45 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1108 Pool Filter - Replace Observations: Filters appear in good to fair condition with minor scaling noted at time of observation. Some minor leaks also noted at time of observation. Although minor leaks are typical with this type of filter, we recommend monitoring the condition and repairing or replacing if the filtration system is negatively affected. It was reported that filters have a typical useful life of 18 - 20 years. Remaining life based on observed conditions and age. Location: Pump House Quantity: Approx. (2) Filters Life Expectancy: 20 Remaining Life: 13 $15,000 $7500/filter; Estimate to replace Best Cost: General Notes: sand type filters 1) Astrial date code: 07C003092 m/n: 06683 2) Astrial date code: 07C003090 m/n: 06683 Worst Cost: $18,000 $9000/filter; Higher estimate Source of Information: Cost Database Page 46 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1111 Pool Pumps - Replace Observations: No unusual conditions were observed or reported at time of report preparation. The individual replacement costs of these items is typically too small for separate Reserve designation. Therefore, we suggest the association reserve an allowance to replace multiple pumps every 3 years. If the reserve designation for pumps is either, too high, or too frequent, we can adjust amount or frequency in future reports. Remaining life is based on age and observed conditions. Location: Pump House Quantity: Approx. (5) Pumps Life Expectancy: 3 Remaining Life: 0 $3,000 Allowance to replace needed pumps every 3 years Best Cost: Worst Cost: $4,000 Higher allowance Source of Information: Cost Database General Notes: A) Marathon Electric m/n: CVJ 18TTDR8504ARL type: TDR, 7.5hp B) Marathon Electric m/n: TTDW7617BBL type: TDR, 7.5hp C) Marathon Electric m/n: CVF 213TTDW7617BBL type: TDR, 10hp D) Century Centurion s/n: CAD8-19 part: 7-193506-01 E) Portable Whisper-flo m/n: WFE-4 s/n: 01/18/06, 1hp Page 47 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1117 Pool Deck - Replace Observations: Similar to other concrete components in the Grand Hall and Pool area, this concrete is colored and difficult to match when installing new concrete. Fortunately, the concrete appears in good condition and frequent replacements may not be needed. We typically suggest repair/replacement operations every 3 - 4 years, however, based on the current condition, we do not expect this area to need this frequency at this time. The frequency and/or quantity can be changed in future updates of this report. We recommend reserving to replace 25% (2060 GSF) every 10 years to maintain safe surfaces and appearances. Large areas should be replaced at one time in order to reduce the mottled look that can exist when replacing colored concrete. Remaining life based on conditions and age Location: Pool Area/Incl. Area Outside Fence Quantity: Approx. 8,245 GSF Life Expectancy: 10 General Notes: concrete outside of pool fence - 1,935 GSF concrete inside pool fence - 6,310 GSF Remaining Life: 3 $19,570 Estimate to replace 25% every 10 years Best Cost: Worst Cost: $21,115 Higher estimate for more repairs. Source of Information: Cost Database Page 48 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1119 Water Slide - Replace Observations: The slide appeared in fair condition with no exposed fiberglass or knicks apparent at time of observation. It was reported that slide should be waxed and sealed every 1 - 2 years depending on level of use. The waxing and sealing operations should be done as an operating expense. Depending on levels of maintenance, the reported useful life for these type of slides is between 10 and 15 years. Due to the apparent good condition, we recommend reserving to replace this slide every 15 years. Remaining life is based on observed condition and age. Location: Pool Area Quantity: (1) 52' Water Slide Life Expectancy: 15 General Notes: water slide: Miracle Recreation 52' slide m/n: RB690052L Remaining Life: 8 $68,000 Estimate to replace with comparable slide Best Cost: Worst Cost: $75,000 Higher estimate for more elaborate slide Source of Information: Research with contractor Page 49 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1120 Pool Play Structure - Replace Observations: This water play structure appeared in good condition. The pool was open at time of observation and play structure appeared to be working as expected. Reported useful life of this component is between 15 and 20 years. We recommend reserving to replace this item every 20 years. Monitor structure for mechanical problems, rust or other conditions that may effect the equipment and repair as needed using operating funds. Remaining useful life based on observed conditions and age. Location: Pool Area Quantity: (1) Water Play Structure Life Expectancy: 20 General Notes: SCS Play Structure, model 108 Remaining Life: 13 $80,000 Estimate to replace with similar structure Best Cost: Worst Cost: $85,000 Higher estimate for upgraded structure Source of Information: Research with contractor Page 50 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1121 Pool Furniture - Replace Observations: Chaise lounges appeared in fair condition at time of observation. These lounges are exposed to heavy UV rays, chlorinated water, hail and rain during summer months. Extreme damage can occur rather quickly; we recommend reserving to replace chaise lounges every 4 - 6 years to maintain appearances and safety. In researching comparable products, it appears this type of component is retailed in sets of 4. For a like product, we received a cost estimate of $1,000.00 - 1,100.00 for a set. More economical options are available but we recommend replacing with lounges that are at least the same quality of existing furniture. Remaining life is based on observed conditions and age. Location: Pool Area Quantity: Approx. (57) Chaise Lounges Life Expectancy: 6 General Notes: Remaining Life: 2 $14,250 $250/ea; Estimate to replace Best Cost: Worst Cost: $15,675 $275/ea; Higher estimate for better quality Source of Information: Cost Database Page 51 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1126 Miscellaneous Pool Equipment - Replace Observations: It was reported, during research, that some of the equipment needs replacement or major repair every 2 - 3 years. The allowance provided above is an estimate to do major repair or maintenance, and replacement of the smaller elements of the pool mechanical system. The remaining life is based on reported conditions, observed conditions and age. Location: Pump House Quantity: See General Notes Life Expectancy: 3 Remaining Life: 1 $2,500 Allowance to replace needed equip ever 3 years Best Cost: General Notes: (1) BECsys3 chemical controller p/n: 1100166 (2) Stenner chemical pumps A) m/n: 85M5, s/n: 021808 05608 B) m/n: 45M5, s/n: 051206 19940 (1) Automatic leveling system Extensive quantity of gate valves Worst Cost: $3,000 Higher allowance for more replacement Source of Information: Research with contractor Page 52 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1301 Play Equipment - Replace (Spring Fawn) Observations: These climbing structures are built from a fiberglass or carbon reinforced concrete product and should have an extended useful life of 15 - 20 years. Many different products/styles are available and these play systems are becoming increasingly popular due to the attractive appearance and unobtrusive colors that other playgrounds have. When these structures begin to deteriorate, monitor them closely and frequently as exposed fibers are sharp and can be dangerous. Remaining life is based on observed conditions and assumed age. Location: Spring Fawn Park Quantity: (2) Play Structures Life Expectancy: 20 General Notes: (2) faux-stone climbing structures Remaining Life: 13 $11,000 Estimate to replace both components Best Cost: Worst Cost: $14,000 Higher estimate for larger apparati Source of Information: Cost Database Page 53 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1301 Play Equipment - Replace (Skylark) Observations: Structures were stable and in fair condition with no signs of abuse, mistreatment, or vandalism at time of inspection. Plastic components of play structure appeared slightly faded, however, this is an aesthetic issue only. Depending on overall level of use and care, the average life expectancy for play equipment ranges from 15 - 18 years. Expect high use for this facility due to the demographics of the community with the majority being young families with children. Remaining life can be adjusted in future reports if the playground elements hold up better than expected. Remaining life is based on observed conditions and assumed age. Location: Skylark Park Quantity: See General Notes Life Expectancy: 18 Remaining Life: 11 $38,000 Estimate to replace with similar type Best Cost: Worst Cost: $43,000 Higher estimate for larger structure General Notes: Playground Equipment (1) swing set, 2 saddle swings (1) metal and plastic climber Main Play Structure wood construction, 3 platforms, 9 steps, 1 canopy (1) 360 degree slide (2) climbing ropes (1) zip line (1) trash receptacle Park Equipment (2) 10 x 15 wood pergolas (6) 6' wood and iron benches Source of Information: Cost Database Page 54 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1303 Tot Lot Groundcover - Refill Observations: No problems noted at the time of inspection. Majority of tot lot areas were full and even with exception of the areas under swings and beneath the slide in Skylark Park. The low areas noted during observation are typical for this type of playground, we recommend raking some of the mulch into the low spots on occasion using operating funds. Expect major refill operations approximately every 3 to 5 years to maintain appearance and ensure proper function as a safety component. Remaining life is based on observed conditions and assumed age. Location: Skylark Park, Spring Fawn Park Quantity: Approx. 72 cu yd Skylark Park - 2,160 GSF Spring Fawn Park - 1,410 GSF Life Expectancy: 5 Estimate 6" deep - approx. 72 cuyd Remaining Life: 2 General Notes: $2,880 $40/cu yd; Estimate for playground mulch Best Cost: Worst Cost: $3,240 $45/cu yd; Higher estimate for better quality Source of Information: Cost Database Page 55 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1304 Drinking Fountain - Replace Observations: Drinking fountains are in fair condition. No corrosion or damage noted in these units at time of observation. The fountains in the Grand Hall showed no signs of significant wear but due to location and the potential for heavy use, expect to replace these fountains every 10 years. The fountain under the deck near the pool is in slightly worse condition and will, in all probability, receive more use than the interior fountains. However, we recommend reserving for replacement of the fountain unit every 10 years due to upgrades in technology and "green" industry standards. Remaining useful life is based on age and observed conditions. If rate of deterioration changes, we can adjust remaining useful life in future updates of this report. Location: Grand Hall Quantity: Approx. (3) Fountains Life Expectancy: 10 Remaining Life: 3 $3,300 $1,100/unit; Estimate to replace Best Cost: General Notes: Lower Level Corridor (1) ELKAY refrigerated fountain Fitness Center (1) ELKAY refrigerated fountain Grand Hall exterior (1) ELKAY refrigerated fountain (turned off at time of PSO) All fountains are wall mount units. Worst Cost: $4,800 $1,600/unit; Higher estimate for upraded model Source of Information: Cost Database Page 56 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1305 Barbecue - Replace Observations: This barbecue grill was in fair to poor condition at time of observation. Gas grills that are available for public use receive a lot of use and, consequently, a lot of abuse. This grill is ready for replacement at any time in the next two seasons. We recommend reserving to replace with an industrial use grill similar to existing. Plan to replace this grill every 7 - 8 years depending on use and maintenance levels. Remaining life is based on observed conditions and age. Location: Large Gazebo Quantity: (1) Gas Barbecue Grill Life Expectancy: 8 General Notes: Barbecue - (stainless) Chef's Choice Gas Grills by MHP: Heritage Series Remaining Life: 1 $1,400 Estimate to replace Best Cost: Worst Cost: $2,000 Higher estimate for better quality Source of Information: Cost Database Page 57 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1306 Picnic Tables - Replace Observations: Picnic tables appeared in fair condition at time of observation. These table are protected from direct contact to weather and UV elements by the gazebo structures on site. We recommend reserving for replacement every 12 - 15 years. Useful life can be extended by refinishing the wood surfaces frequently; do this using operating funds. Remaining life based on current observed conditions and assumed age. Location: Pool Area Quantity: Approx. (15) Tables Life Expectancy: 15 General Notes: Large Gazebo - (9) tables w/attached benches Smaller Gazebos - (6) tables w/attached benches Remaining Life: 8 $7,500 $500/table; Estimate to replace Best Cost: Worst Cost: $10,500 $700/table; Higher estimate for better quality Source of Information: Cost Database Page 58 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1307 Benches - Replace Observations: Generally, the benches are aging normally but should be sanded and sealed every 2 - 3 years to maintain safe and comfortable surfaces. Routinely inspect iron and replace as needed using general operating funds. Expect an indefinite useful life from this component if maintained properly. Due to extended life, no reserve funding is required at this time. Location: Common Areas Quantity: Approx. (12) Benches Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Grand Hall - (2) 6' wood and iron benches Skylark Park - (6) 6' wood and iron benches Spring Fawn Park - (2) 6' wood and iron benches Greenbelt off of Wanderlust Way (2) 6' wood and iron benches Source of Information: Page 59 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1311 Pet Waste Pick Up Stations - Replace Observations: Due to low quantity and low cost of replacement, we do not recommend reserving to replace pet waste pick up stations at this time. As communities age, residents become more familiar with dog walking patterns and the need for more stations invariably occurs. If this happens, and many more stations are installed in the future, we can add this line item as a reserve item in future reports. Location: Common Areas Quantity: Approx. (3) Stations Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Skylark Park - (1) station Spring Fawn Park - (1) station Wanderlust Way - (1) station Source of Information: Page 60 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1402 Appliances - Replace Observations: Appliances are generally in good condition with no major signs of use or abuse. Due to the minimal use these appliances receive, expect a useful life of approximately 12 - 15 years. Remaining life based on age and observed condition. Location: Grand Hall Quantity: See General Notes Life Expectancy: 15 Remaining Life: 8 General Notes: Kitchen (1) Maytag Refrigerator (1) Maytag Range/Oven (1) Maytag Microwave (1) Maytag-Quiet Series 300 dishwasher $6,000 Estimate to replace all appliances Best Cost: Worst Cost: $7,500 Higher estimate for upgraded appliances Source of Information: Cost Database Page 61 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1403 Cabinets -Replace Observations: Cabinets appeared in good to fair condition at time of observation. Cabinets in the offices and banquet room appeared to be used more often than kitchen cabinets. We recommend reserving to replace cabinets every 15 years to maintain current trends and functionality. Remaining life is based on assumed age and observed conditions. Location: Grand Hall Quantity: Approx. (27) Boxes Life Expectancy: 15 Remaining Life: 8 $13,500 $500/box; Estimate to replace and install Best Cost: General Notes: "Community Rancher" Office - (8) 2 x 3 boxes Kitchen (9) 2 x 3 boxes, (1) 2 x 5 box, (1) 2 x 2 box, (1) 1 x 3 box, (1) "lazy susan" Lifeguard Office - (4) 2 x 3 boxes Banquet Room - (2) 3 x 3 boxes Worst Cost: $16,200 $600/box; Higher estimate for better quality Source of Information: Cost Database Page 62 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1404 Formica Countertops - Replace Observations: Due to low cost of replacement and small quantity, we do not recommend reserving to replace Formica surfaces at this time. Location: Grand Hall Quantity: Approx. 65 GSF Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: "Community Rancher" Office - 40 GSF Lifeguard Office - 25 GSF Source of Information: Page 63 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1404 Marble Tile Countertops - Replace Observations: Marble tile countertops appear in very good condition with no damage or defect noted at time of observation. Marble is a material that has an indefinite useful life. In our experience, marble tiles are rarely removed and replaced with new materials. Therefore, do not reserve to replace marble tile countertops. Location: Grand Hall Kitchen Quantity: Approx. 85 GSF Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Kitchen - 70 GSF Banquet Room - 15 GSF Source of Information: Page 64 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1405 Furnishings - Replace Observations: Furniture appeared in fair condition at time of observation. We recommend reserving to replace multiple pieces of furniture every 8 years to maintain quality, appearances, comfort and safety. The "banquet" furniture (stackable chairs, banquet tables) should be maintained and replaced using operating funds. The upholstered and wood furniture should be replaced using the reserve allocation provided above. Remaining life is based on observed condition, level of use and assumed age. Location: Grand Hall Quantity: See General Notes Life Expectancy: 8 Remaining Life: 4 $12,000 Allowance to replace some furniture every 8 yrs Best Cost: Worst Cost: $15,000 Higher allowance to replace more furniture Source of Information: Cost Database General Notes: Foyer (2) upholstered armchairs, (1) upholstered sofa, (1) knotty pine buffet table, (2) wd end tables, (3) table lamps "Hayloft" (4) bar stools, (2) upholstered armchairs, (1) end table, (1) table lamp, (1) 7 x 7 book case, (4) wood chess tables, (16) wood chairs Lifeguard Office - (3) stackable chairs Banquet Room - (1) 15' sectional sofa, (2) upholster armchairs, (1) leather sofa, (1) leather seat/ottoman, (2) wd/cowhide rockers, (8) wd/leather chairs, (2) knotty pine tables, (1) wd buffet table, (1) wd coffee table, (2) end tables, (2) table lamps Supply Room - (2) poker tables, (43) stackable chairs, (8) round banquet tables, (1) rectangle banquet table Page 65 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1406 Strength Equipment - Replace Observations: All equipment appeared to be in fair condition at time of observation with no problems reported or noted at time of observation. Machines have a typical useful life of 15 - 20 years if properly maintained including regularly greasing pulleys and lines, closely monitoring function, and replacing broken or damaged parts regularly. Maintenance of strength equipment can be accomplished using maintenance funds. Benches tend to be used a lot and are easily damaged, reupholstering is an option for all the seats and rests in the fitness room, do this using operating funds. We recommend reserving to replace all equipment every 20 years. Remaining useful life is based on observed conditions and age. Location: Grand Hall Fitness Center Quantity: See General Notes Life Expectancy: 20 Remaining Life: 13 $32,000 Estimate to replace all equipment Best Cost: Worst Cost: $40,000 Higher estimate for more pieces Source of Information: Cost Database General Notes: Life Fitness Strength Machines (1) Chest Press $3000 (1) Lat Pull-Down $3000 (1) Shoulder Press $3000 (1) Seated Row $3000 (1) Seated leg press $5000 (1) Seated leg curl $3200 (1) Seated leg extension $3200 (1) Squat Rack $2500 (1) 2-way Pulley Rack/Pull-up station $3300 Life Fitness Free-weights and benches (2) common strength benches 3-4 (1) dumb bell set 5# pairs - 50# pairs 7.5-8.5 (1) dumb bell storage rack (1) Back Hyper-extension bench 3-4 (1) Ab-cruncher bench 4-5 Page 66 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1406 Cardio Equipment - Replace Observations: All equipment appears to be in fair condition with no reported problems at time of observation. Replacement cycle depends on amount of use and care. This type of equipment typically needs to be replaced every 8 - 10 years to keep up with changes in type of workout requirements and changes in technology for machines. Replacement cost reflects full price of equipment. Association may receive a discount if purchasing multiple pieces at the same time. Remaining life is based on age and observed conditions. Location: Grand Hall Fitness Room Quantity: See General Notes Life Expectancy: 10 Remaining Life: 3 General Notes: Life Fitness Cardio Equipment (2) Elliptical Trainers, m/n: 19xi (3) Treadmills, m/n: 91Ti (2) Bicycle Trainers, m/n: 90R $20,000 Estimate to replace all equipment Best Cost: Worst Cost: $24,500 Higher estimate for more pieces Source of Information: Cost Database Page 67 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1407 Patio Furniture - Replace Observations: Low quantity and relatively low replacement costs for this furniture does not warrant separate reserve funding. Replace and maintain using operating funds. Location: Grand Hall Quantity: See General Notes Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: furniture on deck - (wicker/wood furniture) (4) end tables, (1) bench, (1) porch swing, (4) rocking chairs Source of Information: Page 68 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1413 Main Floor Restrooms - Remodel Observations: Most associations perform a general remodel of the restroom/locker room interiors every 15 - 20 years to maintain appearance and keep up with current decorative trends. The final decision is up to the community members in deciding when to spend the money to perform this project since it is considered cosmetic. These restrooms are built with higher quality materials and fixtures compared to the downstairs rooms, hence, the higher estimate per room to remodel. Remaining life is based on age of the building. Location: Grand Hall Quantity: (2) Restrooms Life Expectancy: N/A Remaining Life: $0 $25,000/room; Estimate to remodel Best Cost: Worst Cost: $0 $32,000/room; Higher estimate for upgrades General Notes: Flooring slate tile - 210 GSF Painted Surfaces walls - 580 GSF (gyp), 460 GSF (wd panel) ceiling - 210 GSF Countertops corian - 35 GSF Lighting cans - (10) fixtures emergency lights - (2) fixtures Plumbing Fixtures Men's - (1) sink, (1) toilet, (1) urinal, (1) partition Women's - (2) sinks, (2) toilets, (2) partitions Source of Information: Cost Database Page 69 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1413 Lower Level Restrooms - Remodel Observations: Most associations perform a general remodel of the restroom/locker room interiors every 15 - 20 years to maintain appearance and keep up with current decorative trends. The final decision is up to the community members in deciding when to spend the money to perform this project since it is considered cosmetic. Remaining life is based on age of the building. Location: Grand Hall Quantity: (3) Bathrooms Life Expectancy: 18 Remaining Life: 11 $60,000 $20,000/room; Estimate to remodel Best Cost: Worst Cost: $90,000 $30,000/room; Higher estimate for upgraded fixtures Source of Information: Cost Database General Notes: Restroom Finishes painted surfaces concrete - 455 GSF walls - 1,770 GSF (gyp) ceiling - 455 GSF (gyp) wall tile - 255 GSF tile base - 220 LF countertop - 75 GSF (corian) floor tile - 5 GSF can lights - (34) fixtures emergency lights - (3) fixtures Plumbing Fixtures Men's - (1) 3 x 5 shower, (2) sinks, (1) toilet, (2) urinals, (1) toilet partition, (1) splash guard Women's - (1) 3 x 5 shower, (2) sinks, (3) toilets, (3) toilet partitions Family - (1) 3 x 5 shower, (1) sink, (1) toilet, (1) toilet partition Page 70 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1417 Office Equipment - Replace Observations: Due to small quantity and relatively low cost of replacement, upgrade and replace office equipment as needed using operating funds. Location: "Community Rancher" Office Quantity: See General Notes Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: (1) Gateway E series computer (2) flat screen monitors (2) office chairs (2) 2 x 3 bulletin boards Source of Information: Page 71 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1418 Music System - Replace Observations: Although the receivers/players appeared in good condition, the exterior speakers appeared to be weathered and nearing the end of their useful life. Speakers were operational during observation…high treble and low bass notes crackled and distorted on occasion. We recommend setting up reserves to replace some needed equipment every 5 years to ease budgeting concerns and to keep equipment in good working condition. Remaining life is based on observed conditions and assumed age. Location: Grand Hall Quantity: See General Notes Life Expectancy: 5 Remaining Life: 0 $3,000 Allowance to replace needed equipment every 5 years Best Cost: Worst Cost: $4,000 Higher allowance for more equipment Source of Information: Cost Database General Notes: "Community Rancher" Office (1) SpeakerCraft receiver (1) Marantz 5 disc CD Changer Fitness Center (1) SpeakerCraft soundsource controller/CD player (2) 24" Samsung TV's Banquet Room (1) Samsung TV, 52 in. (1) 5 speaker surround sound system (2) wall speakers (1) Marantz DVD player (1) Marantz 5 disc CD player Grand Hall Exterior (2) "hidden" speakers (5) exterior wall mount speakers Pump House exterior - (2) exterior wall mount speak. Page 72 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1419 Lockers - Replace Observations: These lockers appeared in good to fair condition. With proper care and use, these lockers should have a useful life of 12 - 15 years. Since the lockers are for private use, the remaining life may be extended in future reports if they retain good operation and appearance. Paint/refinish every 6 - 7 years using maintenance funds. Remaining life based on observed conditions and age. Location: Grand Hall Quantity: Approx. (26) Lockers Life Expectancy: 15 Remaining Life: 8 $7,150 $275/unit; Estimate to replace Best Cost: General Notes: Lower Level Corridor - (6) 1' x 5' steel lockers Men's Locker Room (4) 1' x 5' steel lockers (6) 1' x 2.5' steel lockers Women's Locker Room (4) 1' x 5' steel lockers (6) 1' x 2.5' steel lockers Worst Cost: $10,400 $400/unit; Higher estimate Source of Information: Cost Database Page 73 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1422 Millwork - Replace Observations: Interior millwork has a typical useful life of 20 - 25 years. Replacement is usually caused by damage done to the chair rail from moving furniture/appliances through the hallways and changes in decorative tastes. We recommend reserving to replace the wood base and trim every 25 years. Remaining life is based on observed conditions and age. Location: Grand Hall Quantity: Approx. 445 LF Life Expectancy: 25 Remaining Life: 18 $3,115 $7.00/LF; Estimate to replace and install Best Cost: General Notes: "Community Rancher" Office 6" wood base - 40 LF door/window trim - 120 LF "Hayloft" stair way 6" wood base - 75 LF door trim - 60 LF Lifeguard Office 6" wood base - 40 LF Lower Level Corridor - 110 LF Worst Cost: $3,450 $7.75/LF: Higher estimate Source of Information: Cost Database Page 74 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1423 Billiards Table - Replace Observations: According to manufacturer, the replacement cost for this table is approximately $5,000 including freight, installation and some accessories. The dealer also recommended replacing the felt and re-leveling every 2 - 3 years depending on use. Leveling and replacing felt can be done using operating funds. With the ability to resurface the table, it should have an indefinite useful life. At this time, do not reserve to replace this table. Location: Grand Hall Hayloft Quantity: (1) Billiards Table Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Golden West Billiards Co. Portland, OR Source of Information: Page 75 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1424 Game Tables - Replace Observations: This game table can be purchased from local sporting goods stores for less that $1,000. This particular model has a list price of $499. Due to low cost of replacement, do not reserve to replace this component at this time. Location: Grand Hall Hayloft Quantity: (1) SportCraft Foosball Table Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Source of Information: Page 76 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1501 Carpeting - Replace Observations: Carpet is in fair condition. Only minor wear patterns noted at time of observation. Carpet is free from rips or curling seams at time of observation. Expect to replace this component every 12 years assuming normal use and wear. Remaining life based on current age and condition. Location: Grand Hall Quantity: Approx.90 GSY Life Expectancy: 12 Remaining Life: 5 General Notes: Foyer - 8 yards "Community Rancher" Office - 10 yards "Hayloft" stairs - 15 yards "Hayloft" - 57 yards $3,600 $40/GSY; Estimate for average quality Best Cost: Worst Cost: $4,050 $45/GSY; Higher estimate for better quality Source of Information: Cost Database Page 77 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1502 VCT Flooring - Replace Observations: This room is typically locked and is not used for functions other than storage or mechanical equipment maintenance. We do not recommend reserving to replace this component as it is neither readily apparent nor expensive to replace. Location: Grand Hall Supply Room Quantity: Approx. 120 GSF Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Source of Information: Page 78 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1503 Slate Tile - Replace Observations: This tile was in good condition at time of observation with no problems noted at time of observation. Slate tile is a "lifetime" material, therefore, we do not anticipate the need to completely replace. The only reason to replace this tile floor is if it becomes dated and the homeowner's desire a new appearance to the main entrance of the Grand Hall. Expect a replacement cost of approximately $20 - $30/GSF if replacement is desired. No reserve funding for this component at this time. Location: Grand Hall Quantity: Approx. 180 GSF Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Foyer - 180 GSF Source of Information: Page 79 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1505 Hardwood - Replace Observations: Hardwood was refinished in 2011 according to client. Expect a useful life of 20 years from hardwood flooring in this type of application. We recommend refinishing/resurfacing every 5 years to reach a 20 year useful life. Frequently monitor wood floors for scratches, checking, separation and grain damage and repair as soon as possible. We recommend replacing all wood floor surfaces at the same time to maintain a consistent appearance that currently exists in the Grand Hall. Remaining life based on age and observed condtions. Location: Grand Hall Quantity: Approx.1,580 GSF Life Expectancy: 20 Remaining Life: 12 General Notes: Foyer - 345 GSF Kitchen - 80 GSF "Hayloft" stairway landing - 30 GSF Banquet Room - 1,125 GSF $23,700 $15/GSF; Estimate to replace and install Best Cost: Worst Cost: $28,440 $18/GSF; Higher estimate for better quality Source of Information: Past client cost Page 80 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1505 Hardwood - Refinish Observations: Hardwood was refinished in 2011 according to client. Hardwood refinishing costs can vary wildly depending on amount of damaged planks, cuts, checking and grain damage. We recommend reserving to refinish frequently to maintain appearances. Plan to have the floors maintained by a contractor every 3 - 5 years depending on amount of use. Remaining life based on age and observed conditions. Location: Grand Hall Quantity: Approx.1,580 GSF Life Expectancy: 5 Remaining Life: 4 General Notes: Foyer - 345 GSF Kitchen - 80 GSF "Hayloft" stairway landing - 30 GSF Banquet Room - 1,125 GSF $5,500 Estimate to refinish Best Cost: Worst Cost: $6,500 Higher estimate for more labor Source of Information: Past client cost Page 81 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1506 Rubber Safety Flooring - Replace Observations: Flooring was in good condition with no damage apparent at time of observation. Rubber flooring is a re-ground or recycled rubber product. This type of flooring has a useful life of 15 - 20 years under normal application and depending on level of use. We recommend reserving to replace this flooring every 20 years based on observed conditions and age of material. Location: Grand Hall Fitness Center Quantity: Approx. 1,095 GSF Life Expectancy: 20 General Notes: Remaining Life: 13 $5,475 $5.00/GSF; Estimate to replace Best Cost: Worst Cost: $7,670 $7.00/GSF; Higher estimate for more labor Source of Information: Cost Database Page 82 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1601 Uplight Fixtures - Replace Observations: Due to small quantity of fixtures, do not reserve to replace. It is highly unlikely that all lights will fail at the same time. Replace as needed using operating funds. Location: Grand Hall Quantity: Approx. (4) fixtures Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Source of Information: Page 83 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1602 Exterior Wall Mount - Replace Observations: No unusual conditions were observed or reported at time of inspection. While replacement can occur on an as needed basis, it is our opinion and recommendation to replace all lights at the same time every 15 - 20 years to maintain a consistent appearance throughout the property. In addition, by replacing multiple fixtures, the association will be able to obtain a quantity discount for the fixtures. Estimated replacement cost includes labor for installation. Location: Grand Hall, Pump House, Gazebos Quantity: Approx. (32) Fixtures Life Expectancy: 20 General Notes: Grand Hall - (28) fixtures Large Gazebo - (4) fixtures Remaining Life: 13 $12,800 $400/light; Estimate to replace Best Cost: Worst Cost: $15,200 $475/light; Higher estimate for better quality Source of Information: Cost Database Page 84 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1603 Chandeliers - Replace Observations: These chandeliers were in good condition with no problems noted or reported at time of observation. Through research with a supplier, it was reported that these chandeliers have a virtually indefinite useful life. Due to an indefinite life we do not recommend reserving to replace at this time. If association desires to change the look or upgrade, plan on spending approximately $1,000.00 per chandelier. Location: Grand Hall Banquet Room Quantity: Approx. (2) Chandeliers Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Source of Information: Page 85 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1604 Pole Lights - Replace Observations: No structural problems noted with lights at the time of observation. Due to the extended life associated with light poles reserve funding is not appropriate. Reserve only to replace fixtures on a 16 year cycle to maintain appearance and function. Remaining life is based on age and observed conditions Location: Grand Hall Parking Lot Quantity: Approx. (4) Lights Life Expectancy: 16 General Notes: 15' rough cedar pole with "rusted" light fixture. Remaining Life: 9 $2,400 $600/fixture; Estimate to replace with similar Best Cost: Worst Cost: $3,000 $750/light; Higher estimate for different fixture Source of Information: Cost Database Page 86 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1605 Bollard Lights - Replace Observations: These lights are in good condition with no unusual signs of problems. There were also no reports of problems with the lights since they were installed. The average life expectancy for this type of light ranges from 15 - 20 years, depending on the quality of the fixture and the level of exposure to elements. Remaining life is based on age and observed conditions. Location: Common Areas Quantity: Approx. (34) Lights Life Expectancy: 20 Remaining Life: 13 $34,000 $1000/light; Estimate to replace Best Cost: General Notes: Grand Hall Parking Lot - (6) lights Grand Hall - (8) lights Pool Area - (20) lights NOTE: Faux-rusted bollard lights exist in Grand Hall parking lot area only. (6) lights of this kind. Worst Cost: $40,800 $1200/light; Higher estimate for better quality Source of Information: Cost Database Page 87 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1606 Ceiling Lights - Replace Observations: This component is for an assorted collection of drop lights, spot lights and accent lights. All fixtures are relatively inexpensive to replace and can be done as needed using operating funds. Reserve funding for these lights is not recommended at this time. Location: Grand Hall Quantity: Approx. (14) fixtures Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: "Hayloft" - (6) fixtures Banquet Room - (4) fixtures Large Gazebo - (4) fixtures Source of Information: Page 88 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1607 Interior Wall Mount - Replace Observations: The light fixtures noted on this line item are the same as the exterior wall mount lights. However, due to the longer expected useful life of indoor light fixtures, we feel it is appropriate to reserve separately. The rustic design of the interior of the Grand Hall leads us to believe that these lights will fit the motif for a long period of time. Reserve to replace all lights at the same time to keep a consistent appearance every 25 years. Remaining life is based on observed conditions and age. Location: Grand Hall Quantity: Approx. (16) Fixtures Life Expectancy: 25 General Notes: Foyer - (2) fixtures "Hayloft" stairway - (2) fixtures Banquet Room - (12) fixtures Remaining Life: 18 $6,400 $400/fixture; Estimate to replace Best Cost: Worst Cost: $7,600 $475/fixture; Higher estimate for better quality Source of Information: Cost database Page 89 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1608 Can Lights - Replace Observations: No unusual conditions observed during inspection. The individual replacement cost (less than $50 each) is too small for separate Reserve designation. Therefore, we suggest replacing these on an as needed basis with general operating funds. Location: Grand Hall Quantity: Approx. (37) fixtures Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Foyer - (15) fixtures "Community Rancher" Office - (4) fixtures "Hayloft" stairway - (3) fixtures Lower Level Corridor - (8) fixtures Lifeguard Office - (4) fixtures Pump House - (3) fixtures Source of Information: Page 90 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1609 Emergency Lights - Replace Observations: Emergency lights were in good condition at time of observation. The main reason for replacing this type of fixture is battery pack failure. It is unlikely that all fixtures of this type will fail at the same time, the replacement cost is low, and the quantity is small. For these reasons, we do not recommend reserving to replace these fixtures at this time. Location: Grand Hall Quantity: Approx. (5) Fixtures Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Fitness Center - (3) fixtures Banquet Room - (2) fixtures Source of Information: Page 91 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1610 Fluorescent Tube Lights - Replace Observations: Similar to other light fixtures in this report, fluorescent light fixtures are inexpensive to replace and the need to replace all fixtures at the same time is unlikely. Therefore, do not reserve to replace fluorescent fixtures at this time. Location: Grand Hall Quantity: Approx. (24) Fixtures Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Fitness Center - (16) 4' fixtures Pump House - (8) 4' fixtures Source of Information: Page 92 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1611 Lighted Exit Signs - Replace Observations: Although it is imperative to monitor/inspect the functionality of these fixtures frequently, it is unnecessary to reserve to replace them. Replace these fixtures as needed using operating funds. Location: Grand Hall Quantity: Approx. (7) Fixtures Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Foyer - (4) fixtures "Hayloft" stairway - (1) fixture Fitness Center - (2) fixtures Source of Information: Page 93 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1701 Irrigation System - Rebuild Observations: Irrigation system appears to be functional and in good condition with no visible problems noted during inspection. The materials used during construction should have a long life expectancy with proper maintenance. At this time, there is no expectancy to completely replace the system and Reserve funding is not recommended. We recommend the association establish a line item in the general operating budget for annual repairs to necessary components of the the system (broken lines, sprinkler heads, valves, backflow preventers, etc). Location: Common landscaped areas Quantity: Extensive system Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Source of Information: Page 94 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1703 Irrigation Timeclocks - Replace Observations: System was not running at time of observation, however, clocks appear to be in good condition with no reported problems at time of preparation of this report. Under normal conditions (not including Acts of God, vandalism, etc.) these clocks should last 10 - 12 years with proper maintenance. The remaining life is based on the average age of the clocks. Location: Common Areas Quantity: Approx. (4) Clocks Life Expectancy: 12 Remaining Life: 5 $6,000 $1500/clock; Estimate to replace Best Cost: Worst Cost: $7,200 $1800/clock; Higher estimate for larger clock Source of Information: Cost Database General Notes: Canterberry RainBird ESP-24MC date: 28JN04 s/n: 0616543 Grand Hall - (NE side of bldg. 37 active zones) RainBird ESP-40MC w/Cycle Soak date: 6MR06 s/n: illegible Wanderlust Pl. Irritrol MC-8 Plus date: J0424 s/n: 116713 Saunter Ln. (greenbelt) Irritrol MC-18E s/n: 102798 Page 95 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1706 Backflow Devices - Replace Observations: There were no unusual conditions observed with devices at time of inspection. A steel enclosure has been installed to prevent vandalism and theft. These enclosures will have a life expectancy of 15 - 20 years. The enclosures cost between $800 and $1200 to replace depending on size and style. It is difficult to predict a life expectancy for backflow preventers. Often, the device can be rebuilt (parts run from $50 - $900 depending the needed part), as opposed to being completely replaced (approximately $1800). Since backflow devices can be rebuilt, this line item is to replace enclosures only. Remaining life based on observed conditions and age. Location: Grand Hall Parking Lot Quantity: Approx. (10) Backflow Preventers Life Expectancy: 20 Remaining Life: 13 $8,000 $800/cage; Estimate to replace Best Cost: General Notes: Grand Hall - (2) devices w/cover Skylark Park - (1) device w/cover Spring Fawn Park - (1) device w/cover Wanderlust Pl cul-de-sac - (1) device w/cover Saunter Ln. (greenbelt) - (1) device w/cover S. Tallkid Ct. cul-de-sac - (1) device w/cover Greenbelt off of Wanderlust Way - (1) device w/cover Canterberry and Idyllwilde Dr. - (2) devices w/cover Worst Cost: $12,000 $1,200/cage; Higher estimate Source of Information: Cost database Page 96 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1801 Groundcover - Replenish Observations: Typically, associations will establish a line item in the operating budget to handle annual replacement of shrubs, plants, grass areas, etc. Therefore, separate Reserve funding is not necessary as long as funding has been established in a separate budget. If the association prefers to include a funding allowance for groundcover replenishment, then we would need to know how much and how often the current board of directors would prefer to set aside since this would be considered a discretionary expense. Location: Common areas Quantity: Extensive area Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: Source of Information: Page 97 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 1813 Breeze Path - Replenish Observations: Breeze paths have deteriorated beyond the point where simply adding breeze material will have a positive result. Majority of paths are overgrown, weed barrier is visible and many areas are washed out. We recommend contacting a contractor for advice as to how to proceed in refurbishing the pathways throughout the community. The estimated cost of refurbishment may vary depending upon the scope of work that needs to be done. The cost provided is for replenishing paths that are in fair condition, these are in very poor condition. Again, consult with a landscaping contractor for a major refurbishment project. Remaining useful life is based on observed conditions and age. Location: Common Areas Quantity: Approx. 10,585 GSF Life Expectancy: 3 General Notes: Skylark Park - 1,065 GSF behind Grand Hall - 9,520 GSF Remaining Life: 0 $21,170 $2.00/GSF; Estimate to replenish material Best Cost: Worst Cost: $26,460 $2.50/GSF; Higher estimate for more labor Source of Information: Cost Database Page 98 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 2005 Miscellaneous Observations: Binoculars were in good condition at time of observation. It was reported by manufacturer that this binocular viewing apparatus has a virtually indefinite life if properly maintained. See Coast also reported that any part that fails, breaks or is vandalized can be replaced rather than complete replacement of the entire apparatus. Also, it is recommended by manufacturer to frequently and regularly clean the lenses and eye pieces, lubricate the coin slide and grease the joints for ease of movement. Due to extended useful life, we do not recommend reserving to replace this component. Location: Observation Tower Quantity: (1) Telescope/Viewer Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 General Notes: mfg - SeeCoast Manufacturing Co, Inc m/n: Mark III Source of Information: Page 99 of 100 Friday, January 13, 2012 Component Inventory for Idyllwilde Master Association Comp #: Client Reference # 8344 2005 Entry Trellis - Repair Observations: Trellis structures appeared in fair condition with some wood in need of replacement in the next 1 - 2 years. These trellis structures are made of untreated, rough lumber so they do not require painting or staining like most other wood features on the property. However, due to extreme exposure to the elements, the wood will weather and rot at an accelerated rate. Frequent repairs should be made in order to maintain desired aesthetics of the common areas throughout the community. We recommend reserving to do major repairs every 5 years based on age and observed conditions. Location: Common Areas Quantity: Approx. (4) Structures Life Expectancy: 7 Remaining Life: 2 General Notes: Grand Hall - (2) wood pergolas - 7 x 9 Spring Fawn Park - (1) wood pergola - 4 x 20 Wanderlust Pl. and Wanderlust Way (1) wood pergola - 7 x 20 $2,000 $500/trellis; allowance to repair Best Cost: Worst Cost: $2,400 $600/trellis; higher estimate to repair Source of Information: Cost Database Page 100 of 100 Friday, January 13, 2012 Funding Summary For Idyllwilde Master Association Beginning Assumptions Financial Information Source # of units Fiscal Year End Monthly Dues from 2011 budget Monthly Reserve Allocation from 2011 Budget Projected Starting Reserve Balance (as of 1/1/2012) Ideal Starting Reserve Balance (as of 1/1/2012) Economic Factors Current Inflation Rate (Based on Construction Cost Index) Reported After-Tax Interest Rate Current Reserve Status Current Balance as a % of Ideal Balance Recommendations for 2012 Fiscal Year Monthly Reserve Allocation Average Per Existing Unit Minimum Monthly Reserve Allocation Average Per Existing Unit Primary Annual Increases # of Years Special Assessment Average Per Existing Unit Changes From Prior Year (2011 to 2012) Increase/Decrease to Reserve Allocation as Percentage Average Per Existing Unit 1 Research With Client 247 December 31, 2012 $31,485.00 $2,690.00 $131,414 $585,774 4.50% 3.00% 22% $11,865 $48.04 $10,500 $42.51 3.55% 30 $0 $0 $9,175 341% $37.15 Percent Funded Graph For Idyllwilde Master Association Percent Funded Recommended Monthly Reserve Allocation from 2011 Budget 120% 80% 60% 40% 20% Year 2 2042 2040 2038 2036 2034 2032 2030 2028 2026 2024 2022 2020 2018 2016 2014 0% 2012 % Level of Funding 100% Component Inventory for Idyllwilde Master Association Category Asset # Asset Name UL RUL Best Cost Worst Cost Roofing 105 108 120 Comp Shingle Roof - Replace Metal Roof - Replace Gutter/Downspout - Replace 20 30 20 13 23 13 $7,800 $99,000 $3,360 $8,400 $118,800 $3,840 Painted Surfaces 201 207 215 216 Concrete - Repaint Pool Iron Fence - Repaint Wood Panel Siding - Repaint Interior Surfaces - Repaint/Restain N/A 4 5 10 0 0 3 $0 $2,425 $37,500 $10,800 $0 $2,850 $45,000 $12,800 Siding Materials 305 309 Wood Panel Siding - Major Repairs Stone/Rock Siding - Major Repairs 15 N/A 5 $12,000 $0 $15,000 $0 Drive Materials 401 402 403 405 405 Asphalt - Overlay Asphalt - Seal Coat/crack fill Concrete - Repair/Replace Stamped Concrete - Repair/Replace Colored Concrete - Repair/Replace 24 3 6 18 18 17 0 3 11 11 $19,250 $1,500 $7,650 $62,465 $2,580 $21,150 $1,795 $8,075 $76,880 $3,010 Property Access 501 503 506 Doors - Replace Utility Doors - Replace Windows - Replace N/A N/A 20 13 $0 $0 $38,350 $0 $0 $44,250 601 602 604 606 607 610 Concrete Sidewalks - Repair Limestone Pathway - Repair Brick Pavers - Resurface Wood Deck - Reseal Wood Deck - Replace Metal Stairs/landing - Replace 6 N/A N/A 3 25 30 0 18 23 $32,850 $0 $0 $1,580 $31,650 $10,000 $34,675 $0 $0 $1,850 $36,925 $12,000 Mechanical Equip. 703 705 709 Water Heater Tank - Replace HVAC System - Replace Elevator Cab - Remodel 12 25 15 5 18 8 $3,200 $25,000 $12,000 $3,500 $30,000 $15,000 Prop. Identification 802 803 805 806 807 808 809 Maps - Replace Mailboxes - Replace Monument - Rebuild (Hess and Canterbe Monument - Rebuild (North entrance) Monument - Rebuild ("Community Cente Monument - Rebuild (Deer Diorama) Monument - Rebuild (facility signs) 25 8 25 25 25 25 25 18 5 18 18 18 18 18 $15,000 $18,150 $35,000 $15,000 $10,000 $15,000 $15,000 $18,000 $19,800 $40,000 $20,000 $12,000 $20,000 $15,600 Security 901 903 Fire Protection System - Replace TV Security System - Replace 20 N/A 13 $3,500 $0 $4,000 $0 Fencing/Walls 1002 1004 1005 1006 1008 1010 1011 Wood and Steel Rail - Replace Wood Handrails - Replace Block Wall - Replace Steel Rail - Replace Pool Iron Fence - Replace Trash Enclosures - Replace Retaining Wall - Replace 25 N/A N/A N/A 24 N/A N/A 18 $10,800 $0 $0 $0 $17,100 $0 $0 $12,600 $0 $0 $0 $19,950 $0 $0 1101 1104 1105 1108 1111 1117 Pool - Resurface Coping - Replace Pool Heater - Replace Pool Filter - Replace Pool Pumps - Replace Pool Deck - Replace 15 N/A 10 20 3 10 8 $85,680 $0 $25,000 $15,000 $3,000 $19,570 $99,960 $0 $29,000 $18,000 $4,000 $21,115 Decking Pool/Spa 3 3 18 2 13 0 3 Category Pool/Spa Asset # 1119 1120 1121 1126 Asset Name Water Slide - Replace Pool Play Structure - Replace Pool Furniture - Replace Miscellaneous Pool Equipment - Replace UL 15 20 6 3 RUL 8 13 2 1 Best Cost $68,000 $80,000 $14,250 $2,500 Worst Cost $75,000 $85,000 $15,675 $3,000 Recreation Equip. 1301 1301 1303 1304 1305 1306 1307 1311 Play Equipment - Replace (Spring Fawn) Play Equipment - Replace (Skylark) Tot Lot Groundcover - Refill Drinking Fountain - Replace Barbecue - Replace Picnic Tables - Replace Benches - Replace Pet Waste Pick Up Stations - Replace 20 18 5 10 8 15 N/A N/A 13 11 2 3 1 8 $11,000 $38,000 $2,880 $3,300 $1,400 $7,500 $0 $0 $14,000 $43,000 $3,240 $4,800 $2,000 $10,500 $0 $0 Interiors 1402 1403 1404 1404 1405 1406 1406 1407 1413 1413 1417 1418 1419 1422 1423 1424 Appliances - Replace Cabinets -Replace Formica Countertops - Replace Marble Tile Countertops - Replace Furnishings - Replace Strength Equipment - Replace Cardio Equipment - Replace Patio Furniture - Replace Main Floor Restrooms - Remodel Lower Level Restrooms - Remodel Office Equipment - Replace Music System - Replace Lockers - Replace Millwork - Replace Billiards Table - Replace Game Tables - Replace 15 15 N/A N/A 8 20 10 N/A N/A 18 N/A 5 15 25 N/A N/A 8 8 $6,000 $13,500 $0 $0 $12,000 $32,000 $20,000 $0 $0 $60,000 $0 $3,000 $7,150 $3,115 $0 $0 $7,500 $16,200 $0 $0 $15,000 $40,000 $24,500 $0 $0 $90,000 $0 $4,000 $10,400 $3,450 $0 $0 1501 1502 1503 1505 1505 1506 Carpeting - Replace VCT Flooring - Replace Slate Tile - Replace Hardwood - Replace Hardwood - Refinish Rubber Safety Flooring - Replace 12 N/A N/A 20 5 20 $3,600 $0 $0 $23,700 $5,500 $5,475 $4,050 $0 $0 $28,440 $6,500 $7,670 1601 1602 1603 1604 1605 1606 1607 1608 1609 1610 1611 Uplight Fixtures - Replace Exterior Wall Mount - Replace Chandeliers - Replace Pole Lights - Replace Bollard Lights - Replace Ceiling Lights - Replace Interior Wall Mount - Replace Can Lights - Replace Emergency Lights - Replace Fluorescent Tube Lights - Replace Lighted Exit Signs - Replace N/A 20 N/A 16 20 N/A 25 N/A N/A N/A N/A $0 $12,800 $0 $2,400 $34,000 $0 $6,400 $0 $0 $0 $0 $0 $15,200 $0 $3,000 $40,800 $0 $7,600 $0 $0 $0 $0 1701 1703 1706 Irrigation System - Rebuild Irrigation Timeclocks - Replace Backflow Devices - Replace N/A 12 20 5 13 $0 $6,000 $8,000 $0 $7,200 $12,000 1801 1813 Groundcover - Replenish Breeze Path - Replenish N/A 3 0 $0 $21,170 $0 $26,460 2005 2005 Miscellaneous Entry Trellis - Repair N/A 7 2 $0 $2,000 $0 $2,400 Flooring Light Fixtures Irrig. System Landscaping Miscellaneous 4 4 13 3 11 0 8 18 5 12 4 13 13 9 13 18 Significant Components For Idyllwilde Master Association ID 105 108 120 207 215 216 305 401 402 403 405 405 506 601 606 607 610 703 705 709 802 803 805 806 807 808 809 901 1002 1008 1101 1105 1108 1111 1117 1119 1120 1121 1126 1301 1301 1303 1304 1305 1306 1402 1403 1405 1406 1406 1413 1418 1419 Asset Name Comp Shingle Roof - Replace Metal Roof - Replace Gutter/Downspout - Replace Pool Iron Fence - Repaint Wood Panel Siding - Repaint Interior Surfaces - Repaint/Restain Wood Panel Siding - Major Repairs Asphalt - Overlay Asphalt - Seal Coat/crack fill Concrete - Repair/Replace Colored Concrete - Repair/Replace Stamped Concrete - Repair/Replace Windows - Replace Concrete Sidewalks - Repair Wood Deck - Reseal Wood Deck - Replace Metal Stairs/landing - Replace Water Heater Tank - Replace HVAC System - Replace Elevator Cab - Remodel Maps - Replace Mailboxes - Replace Monument - Rebuild (Hess and Canterberry) Monument - Rebuild (North entrance) Monument - Rebuild ("Community Center") Monument - Rebuild (Deer Diorama) Monument - Rebuild (facility signs) Fire Protection System - Replace Wood and Steel Rail - Replace Pool Iron Fence - Replace Pool - Resurface Pool Heater - Replace Pool Filter - Replace Pool Pumps - Replace Pool Deck - Replace Water Slide - Replace Pool Play Structure - Replace Pool Furniture - Replace Miscellaneous Pool Equipment - Replace Play Equipment - Replace (Skylark) Play Equipment - Replace (Spring Fawn) Tot Lot Groundcover - Refill Drinking Fountain - Replace Barbecue - Replace Picnic Tables - Replace Appliances - Replace Cabinets -Replace Furnishings - Replace Cardio Equipment - Replace Strength Equipment - Replace Lower Level Restrooms - Remodel Music System - Replace Lockers - Replace UL 20 30 20 4 5 10 15 24 3 6 18 18 20 6 3 25 30 12 25 15 25 8 25 25 25 25 25 20 25 24 15 10 20 3 10 15 20 6 3 18 20 5 10 8 15 15 15 8 10 20 18 5 15 RUL 13 23 13 0 0 3 5 17 0 3 11 11 13 3 0 18 23 5 18 8 18 5 18 18 18 18 18 13 18 18 8 2 13 0 3 8 13 2 1 11 13 2 3 1 8 8 8 4 3 13 11 0 8 5 Ave Curr Cost $8,100 $108,900 $3,600 $2,638 $41,250 $11,800 $13,500 $20,200 $1,648 $7,863 $2,795 $69,673 $41,300 $33,763 $1,715 $34,288 $11,000 $3,350 $27,500 $13,500 $16,500 $18,975 $37,500 $17,500 $11,000 $17,500 $15,300 $3,750 $11,700 $18,525 $92,820 $27,000 $16,500 $3,500 $20,343 $71,500 $82,500 $14,963 $2,750 $40,500 $12,500 $3,060 $4,050 $1,700 $9,000 $6,750 $14,850 $13,500 $22,250 $36,000 $75,000 $3,500 $8,775 Significance: (Curr Cost/UL) As $ As % $405 0.4020% $3,630 3.6029% $180 0.1787% $659 0.6545% $8,250 8.1884% $1,180 1.1712% $900 0.8933% $842 0.8354% $549 0.5451% $1,310 1.3006% $155 0.1541% $3,871 3.8418% $2,065 2.0496% $5,627 5.5851% $572 0.5674% $1,372 1.3613% $367 0.3639% $279 0.2771% $1,100 1.0918% $900 0.8933% $660 0.6551% $2,372 2.3542% $1,500 1.4888% $700 0.6948% $440 0.4367% $700 0.6948% $612 0.6074% $188 0.1861% $468 0.4645% $772 0.7661% $6,188 6.1418% $2,700 2.6798% $825 0.8188% $1,167 1.1580% $2,034 2.0191% $4,767 4.7311% $4,125 4.0942% $2,494 2.4751% $917 0.9098% $2,250 2.2332% $625 0.6203% $612 0.6074% $405 0.4020% $213 0.2109% $600 0.5955% $450 0.4466% $990 0.9826% $1,688 1.6749% $2,225 2.2084% $1,800 1.7866% $4,167 4.1356% $700 0.6948% $585 0.5806% Significant Components For Idyllwilde Master Association ID 1422 1501 1505 1505 1506 1602 1604 1605 1607 1703 1706 1813 2005 Asset Name Millwork - Replace Carpeting - Replace Hardwood - Refinish Hardwood - Replace Rubber Safety Flooring - Replace Exterior Wall Mount - Replace Pole Lights - Replace Bollard Lights - Replace Interior Wall Mount - Replace Irrigation Timeclocks - Replace Backflow Devices - Replace Breeze Path - Replenish Entry Trellis - Repair UL 25 12 5 20 20 20 16 20 25 12 20 3 7 RUL 18 5 4 12 13 13 9 13 18 5 13 0 2 6 Ave Curr Cost $3,283 $3,825 $6,000 $26,070 $6,573 $14,000 $2,700 $37,400 $7,000 $6,600 $10,000 $23,815 $2,200 Significance: (Curr Cost/UL) As $ As % $131 0.1303% $319 0.3164% $1,200 1.1910% $1,304 1.2938% $329 0.3262% $700 0.6948% $169 0.1675% $1,870 1.8560% $280 0.2779% $550 0.5459% $500 0.4963% $7,938 7.8791% $314 0.3119% Significant Components Graph For Idyllwilde Master Association 215 Wood Panel Siding - Repaint 1813 Breeze Path - Replenish 1101 Pool - Resurface 601 Concrete Sidewalks - Repair All Other 8% 8% 6% 6% 72% Significance: (Curr Cost/UL) Asset ID 215 1813 1101 601 All Other Asset Name UL RUL Wood Panel Siding - Repaint 5 Breeze Path - Replenish 3 Pool - Resurface 15 Concrete Sidewalks - Repair 6 See Expanded Table on Page 4 For Additional Breakdown 7 Average Curr. Cost As $ 0 0 8 3 $41,250 $23,815 $92,820 $33,763 $8,250 $7,938 $6,188 $5,627 $72,749 As % 8% 8% 6% 6% 72% Yearly Summary For Idyllwilde Master Association Fiscal Year Start 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 Fully Funded Balance $585,774 $635,842 $769,619 $865,338 $868,511 $1,002,136 $1,059,931 $1,202,990 $1,392,142 $1,255,588 $1,336,704 $1,483,276 $1,402,116 $1,461,325 $1,061,065 $1,263,229 $1,287,109 $1,541,921 $1,748,271 $1,486,486 $1,775,261 $1,883,884 $1,993,612 $2,270,312 $1,518,342 $1,771,313 $2,004,451 $2,376,214 $2,570,222 $2,979,288 Starting Reserve Balance $131,414 $200,704 $351,764 $465,102 $488,270 $639,180 $715,584 $874,990 $1,078,102 $962,989 $1,062,046 $1,224,343 $1,164,056 $1,241,912 $873,171 $1,095,879 $1,143,161 $1,414,938 $1,636,418 $1,400,384 $1,702,927 $1,826,366 $1,949,093 $2,232,043 $1,511,092 $1,776,155 $2,017,570 $2,389,249 $2,581,547 $2,978,194 Percent Funded 22% 32% 46% 54% 56% 64% 68% 73% 77% 77% 79% 83% 83% 85% 82% 87% 89% 92% 94% 94% 96% 97% 98% 98% 100% 100% 101% 101% 100% 100% Annual Reserve Contribs $142,380 $147,434 $152,668 $158,088 $163,700 $169,512 $175,529 $181,761 $188,213 $194,895 $201,813 $208,978 $216,396 $224,079 $232,033 $240,271 $248,800 $257,633 $266,779 $276,249 $286,056 $296,211 $306,726 $317,615 $328,891 $340,566 $352,656 $365,176 $378,139 $391,563 8 Rec. Special Ass'mnt $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Interest Income $4,975 $8,276 $12,237 $14,282 $16,889 $20,295 $23,827 $29,258 $30,576 $30,335 $34,250 $35,779 $36,042 $31,684 $29,497 $33,541 $38,321 $45,710 $45,492 $46,488 $52,869 $56,557 $62,634 $56,073 $49,243 $56,831 $66,015 $74,463 $83,286 $84,182 Reserve Expenses $78,065 $4,650 $51,568 $149,202 $29,679 $113,403 $39,950 $7,907 $333,902 $126,173 $73,766 $305,044 $174,583 $624,504 $38,821 $226,530 $15,345 $81,862 $548,305 $20,194 $215,487 $230,041 $86,410 $1,094,640 $113,070 $155,982 $46,992 $247,340 $64,778 $812,564 Reserve Contributions For Idyllwilde Master Association Reserve Contributions Recommended Current Minimum $40,000 $35,000 $25,000 $20,000 $15,000 $10,000 $5,000 Year 9 2042 2040 2038 2036 2034 2032 2030 2028 2026 2024 2022 2020 2018 2016 2014 $2012 Monthly Contribution $30,000 Component Funding Information For Idyllwilde Master Association ID 105 108 120 207 215 216 305 401 402 403 405 405 506 601 606 607 610 703 705 709 802 803 805 806 807 808 809 901 1002 1008 1101 1105 1108 1111 1117 1119 1120 1121 1126 1301 1301 1303 1304 1305 1306 1402 1403 1405 1406 1406 1413 Component Name Comp Shingle Roof - Replace Metal Roof - Replace Gutter/Downspout - Replace Pool Iron Fence - Repaint Wood Panel Siding - Repaint Interior Surfaces - Repaint/Restain Wood Panel Siding - Major Repairs Asphalt - Overlay Asphalt - Seal Coat/crack fill Concrete - Repair/Replace Colored Concrete - Repair/Replace Stamped Concrete - Repair/Replace Windows - Replace Concrete Sidewalks - Repair Wood Deck - Reseal Wood Deck - Replace Metal Stairs/landing - Replace Water Heater Tank - Replace HVAC System - Replace Elevator Cab - Remodel Maps - Replace Mailboxes - Replace Monument - Rebuild (Hess and Canterberry) Monument - Rebuild (North entrance) Monument - Rebuild ("Community Center") Monument - Rebuild (Deer Diorama) Monument - Rebuild (facility signs) Fire Protection System - Replace Wood and Steel Rail - Replace Pool Iron Fence - Replace Pool - Resurface Pool Heater - Replace Pool Filter - Replace Pool Pumps - Replace Pool Deck - Replace Water Slide - Replace Pool Play Structure - Replace Pool Furniture - Replace Miscellaneous Pool Equipment - Replace Play Equipment - Replace (Skylark) Play Equipment - Replace (Spring Fawn) Tot Lot Groundcover - Refill Drinking Fountain - Replace Barbecue - Replace Picnic Tables - Replace Appliances - Replace Cabinets -Replace Furnishings - Replace Cardio Equipment - Replace Strength Equipment - Replace Lower Level Restrooms - Remodel Ave Current Cost Ideal Future Cost Balance Current Fund Balance $8,100 $108,900 $3,600 $2,638 $41,250 $11,800 $13,500 $20,200 $1,648 $7,863 $2,795 $69,673 $41,300 $33,763 $1,715 $34,288 $11,000 $3,350 $27,500 $13,500 $16,500 $18,975 $37,500 $17,500 $11,000 $17,500 $15,300 $3,750 $11,700 $18,525 $92,820 $27,000 $16,500 $3,500 $20,343 $71,500 $82,500 $14,963 $2,750 $40,500 $12,500 $3,060 $4,050 $1,700 $9,000 $6,750 $14,850 $13,500 $22,250 $36,000 $75,000 $14,355 $299,711 $6,380 $3,145 $51,405 $13,466 $16,823 $42,690 $1,880 $8,972 $4,536 $113,068 $73,192 $38,529 $1,957 $75,723 $30,274 $4,175 $60,733 $19,198 $36,440 $23,646 $82,818 $38,648 $24,293 $38,648 $33,790 $6,646 $25,839 $40,912 $131,999 $29,485 $29,241 $3,994 $23,214 $101,680 $146,206 $16,339 $2,874 $65,726 $22,152 $3,342 $4,622 $1,777 $12,799 $9,599 $21,118 $16,099 $25,391 $63,799 $121,714 $0 $0 $0 $2,638 $41,250 $8,260 $0 $0 $1,648 $3,931 $0 $0 $0 $2,854 $1,715 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $21,600 $0 $3,500 $0 $0 $0 $9,975 $1,833 $0 $0 $1,836 $0 $1,488 $0 $0 $0 $0 $0 $0 $0 10 $2,835 $25,410 $1,260 $2,638 $41,250 $8,260 $9,000 $5,892 $1,648 $3,931 $1,087 $27,095 $14,455 $16,881 $1,715 $9,601 $2,567 $1,954 $7,700 $6,300 $4,620 $7,116 $10,500 $4,900 $3,080 $4,900 $4,284 $1,313 $3,276 $4,631 $43,316 $21,600 $5,775 $3,500 $14,240 $33,367 $28,875 $9,975 $1,833 $15,750 $4,375 $1,836 $2,835 $1,488 $4,200 $3,150 $6,930 $6,750 $15,575 $12,600 $29,167 Monthly $47.69 $427.48 $21.20 $77.65 $971.56 $138.96 $105.99 $99.12 $64.67 $154.32 $18.29 $455.83 $243.18 $662.67 $67.32 $161.51 $43.18 $32.88 $129.54 $105.99 $77.72 $279.32 $176.65 $82.43 $51.82 $82.43 $72.07 $22.08 $55.11 $90.90 $728.73 $317.96 $97.16 $137.39 $239.56 $561.34 $485.78 $293.67 $107.95 $264.97 $73.60 $72.07 $47.69 $25.02 $70.66 $52.99 $116.59 $198.73 $262.03 $211.98 $490.68 ID 1418 1419 1422 1501 1505 1505 1506 1602 1604 1605 1607 1703 1706 1813 2005 Component Name Music System - Replace Lockers - Replace Millwork - Replace Carpeting - Replace Hardwood - Refinish Hardwood - Replace Rubber Safety Flooring - Replace Exterior Wall Mount - Replace Pole Lights - Replace Bollard Lights - Replace Interior Wall Mount - Replace Irrigation Timeclocks - Replace Backflow Devices - Replace Breeze Path - Replenish Entry Trellis - Repair Ave Current Cost 3500 8775 3282.5 3825 6000 26070 6572.5 14000 2700 37400 7000 6600 10000 23815 2200 11 Ideal Future Cost Balance $4,362 $3,500 $12,479 $4,095 $7,249 $919 $4,767 $2,231 $7,155 $1,200 $44,212 $10,428 $11,648 $2,300 $24,811 $4,900 $4,012 $1,181 $66,280 $13,090 $15,459 $1,960 $8,225 $3,850 $17,722 $3,500 $27,177 $23,815 $2,402 $1,571 Current Fund Balance $3,500 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $23,815 $1,571 Monthly $82.43 $68.89 $15.46 $37.54 $141.32 $153.51 $38.70 $82.43 $19.87 $220.22 $32.97 $64.77 $58.88 $934.85 $37.01 Yearly Cash Flow For Idyllwilde Master Association Year Starting Balance Reserve Income Interest Earnings Special Assessments Funds Available Reserve Expenditures Ending Balance 2012 $131,414 $142,380 $4,975 $0 $278,769 $78,065 $200,704 2013 $200,704 $147,434 $8,276 $0 $356,415 $4,650 $351,764 2014 $351,764 $152,668 $12,237 $0 $516,670 $51,568 $465,102 2015 $465,102 $158,088 $14,282 $0 $637,471 $149,202 $488,270 2016 $488,270 $163,700 $16,889 $0 $668,859 $29,679 $639,180 Year Starting Balance Reserve Income Interest Earnings Special Assessments Funds Available Reserve Expenditures Ending Balance 2017 $639,180 $169,512 $20,295 $0 $828,987 $113,403 $715,584 2018 $715,584 $175,529 $23,827 $0 $914,940 $39,950 $874,990 2019 $874,990 $181,761 $29,258 $0 $1,086,009 $7,907 $1,078,102 2020 $1,078,102 $188,213 $30,576 $0 $1,296,891 $333,902 $962,989 2021 $962,989 $194,895 $30,335 $0 $1,188,219 $126,173 $1,062,046 Year Starting Balance Reserve Income Interest Earnings Special Assessments Funds Available Reserve Expenditures Ending Balance 2022 $1,062,046 $201,813 $34,250 $0 $1,298,109 $73,766 $1,224,343 2023 $1,224,343 $208,978 $35,779 $0 $1,469,100 $305,044 $1,164,056 2024 $1,164,056 $216,396 $36,042 $0 $1,416,494 $174,583 $1,241,912 2025 $1,241,912 $224,079 $31,684 $0 $1,497,675 $624,504 $873,171 2026 $873,171 $232,033 $29,497 $0 $1,134,701 $38,821 $1,095,879 Year Starting Balance Reserve Income Interest Earnings Special Assessments Funds Available Reserve Expenditures Ending Balance 2027 $1,095,879 $240,271 $33,541 $0 $1,369,691 $226,530 $1,143,161 2028 $1,143,161 $248,800 $38,321 $0 $1,430,282 $15,345 $1,414,938 2029 $1,414,938 $257,633 $45,710 $0 $1,718,280 $81,862 $1,636,418 2030 $1,636,418 $266,779 $45,492 $0 $1,948,689 $548,305 $1,400,384 2031 $1,400,384 $276,249 $46,488 $0 $1,723,121 $20,194 $1,702,927 Year Starting Balance Reserve Income Interest Earnings Special Assessments Funds Available Reserve Expenditures Ending Balance 2032 $1,702,927 $286,056 $52,869 $0 $2,041,853 $215,487 $1,826,366 2033 $1,826,366 $296,211 $56,557 $0 $2,179,134 $230,041 $1,949,093 2034 $1,949,093 $306,726 $62,634 $0 $2,318,453 $86,410 $2,232,043 2035 $2,232,043 $317,615 $56,073 $0 $2,605,731 $1,094,640 $1,511,092 2036 $1,511,092 $328,891 $49,243 $0 $1,889,226 $113,070 $1,776,155 Year Starting Balance Reserve Income Interest Earnings Special Assessments Funds Available Reserve Expenditures Ending Balance 2037 $1,776,155 $340,566 $56,831 $0 $2,173,552 $155,982 $2,017,570 2038 $2,017,570 $352,656 $66,015 $0 $2,436,241 $46,992 $2,389,249 2039 $2,389,249 $365,176 $74,463 $0 $2,828,888 $247,340 $2,581,547 2040 $2,581,547 $378,139 $83,286 $0 $3,042,972 $64,778 $2,978,194 2041 $2,978,194 $391,563 $84,182 $0 $3,453,939 $812,564 $2,641,375 12 Yearly Expenditures Graph For Idyllwilde Master Association Reserve Expenditures $1,200,000 $1,000,000 $600,000 $400,000 $200,000 Year 13 2042 2040 2038 2036 2034 2032 2030 2028 2026 2024 2022 2020 2018 2016 2014 $2012 Annual Totals $800,000 Projected Reserve Expenditures For Idyllwilde Master Association Year 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Asset ID 207 215 402 606 1111 1418 1813 1126 1305 1105 1121 1303 2005 216 402 403 601 606 1111 1117 1304 1406 1813 207 1126 1405 1505 215 305 703 803 1418 1501 1703 402 606 1111 1813 1126 1303 207 709 1101 1119 1121 1306 1402 1403 1419 402 403 601 606 Asset Name Pool Iron Fence - Repaint Wood Panel Siding - Repaint Asphalt - Seal Coat/crack fill Wood Deck - Reseal Pool Pumps - Replace Music System - Replace Breeze Path - Replenish Miscellaneous Pool Equipment - Replace Barbecue - Replace Pool Heater - Replace Pool Furniture - Replace Tot Lot Groundcover - Refill Entry Trellis - Repair Interior Surfaces - Repaint/Restain Asphalt - Seal Coat/crack fill Concrete - Repair/Replace Concrete Sidewalks - Repair Wood Deck - Reseal Pool Pumps - Replace Pool Deck - Replace Drinking Fountain - Replace Cardio Equipment - Replace Breeze Path - Replenish Pool Iron Fence - Repaint Miscellaneous Pool Equipment - Replace Furnishings - Replace Hardwood - Refinish Wood Panel Siding - Repaint Wood Panel Siding - Major Repairs Water Heater Tank - Replace Mailboxes - Replace Music System - Replace Carpeting - Replace Irrigation Timeclocks - Replace Asphalt - Seal Coat/crack fill Wood Deck - Reseal Pool Pumps - Replace Breeze Path - Replenish Miscellaneous Pool Equipment - Replace Tot Lot Groundcover - Refill Pool Iron Fence - Repaint Elevator Cab - Remodel Pool - Resurface Water Slide - Replace Pool Furniture - Replace Picnic Tables - Replace Appliances - Replace Cabinets -Replace Lockers - Replace Asphalt - Seal Coat/crack fill Concrete - Repair/Replace Concrete Sidewalks - Repair Wood Deck - Reseal 14 Projected Cost $2,638 $41,250 $1,648 $1,715 $3,500 $3,500 $23,815 $2,874 $1,777 $29,485 $16,339 $3,342 $2,402 $13,466 $1,880 $8,972 $38,529 $1,957 $3,994 $23,214 $4,622 $25,391 $27,177 $3,145 $3,279 $16,099 $7,155 $51,405 $16,823 $4,175 $23,646 $4,362 $4,767 $8,225 $2,145 $2,233 $4,558 $31,013 $3,742 $4,164 $3,751 $19,198 $131,999 $101,680 $21,278 $12,799 $9,599 $21,118 $12,479 $2,448 $11,684 $50,174 $2,549 Total Per Annum $78,065 $4,650 $51,568 $149,202 $29,679 $113,403 $39,950 $7,907 $333,902 Year 2022 2023 2024 2025 2026 2027 2028 2029 Asset ID Asset Name Pool Pumps - Replace 1111 Barbecue - Replace 1305 Hardwood - Refinish 1505 Pole Lights - Replace 1604 Breeze Path - Replenish 1813 Entry Trellis - Repair 2005 Wood Panel Siding - Repaint 215 Miscellaneous Pool Equipment - Replace 1126 Music System - Replace 1418 Colored Concrete - Repair/Replace 405 Stamped Concrete - Repair/Replace 405 Play Equipment - Replace (Skylark) 1301 Lower Level Restrooms - Remodel 1413 Pool Iron Fence - Repaint 207 Asphalt - Seal Coat/crack fill 402 Wood Deck - Reseal 606 Pool Heater - Replace 1105 Pool Pumps - Replace 1111 Tot Lot Groundcover - Refill 1303 Furnishings - Replace 1405 Hardwood - Replace 1505 Breeze Path - Replenish 1813 Comp Shingle Roof - Replace 105 Gutter/Downspout - Replace 120 Interior Surfaces - Repaint/Restain 216 Windows - Replace 506 Mailboxes - Replace 803 Fire Protection System - Replace 901 Pool Filter - Replace 1108 Pool Deck - Replace 1117 Pool Play Structure - Replace 1120 Miscellaneous Pool Equipment - Replace 1126 Play Equipment - Replace (Spring Fawn) 1301 Drinking Fountain - Replace 1304 Cardio Equipment - Replace 1406 Strength Equipment - Replace 1406 Rubber Safety Flooring - Replace 1506 Exterior Wall Mount - Replace 1602 Bollard Lights - Replace 1605 Backflow Devices - Replace 1706 Pool Furniture - Replace 1121 Hardwood - Refinish 1505 Wood Panel Siding - Repaint 215 402 Asphalt - Seal Coat/crack fill 403 Concrete - Repair/Replace 601 Concrete Sidewalks - Repair 606 Wood Deck - Reseal 1111 Pool Pumps - Replace 1418 Music System - Replace 1813 Breeze Path - Replenish 207 Pool Iron Fence - Repaint 1126 Miscellaneous Pool Equipment - Replace 2005 Entry Trellis - Repair 401 Asphalt - Overlay Water Heater Tank - Replace 703 15 Projected Cost Total Per Annum $5,201 $2,526 $8,917 $4,012 $35,391 $3,269 $64,060 $4,271 $5,435 $4,536 $113,068 $65,726 $121,714 $4,473 $2,794 $2,908 $45,789 $5,936 $5,189 $22,894 $44,212 $40,387 $14,355 $6,380 $20,912 $73,192 $33,627 $6,646 $29,241 $36,051 $146,206 $4,874 $22,152 $7,177 $39,431 $63,799 $11,648 $24,811 $126,173 $73,766 $305,044 $174,583 $66,280 $17,722 $27,710 $11,112 $79,830 $3,188 $15,216 $65,340 $3,319 $6,773 $624,504 $38,821 $6,773 $46,089 $5,334 $5,562 $4,449 $42,690 $7,080 $226,530 $15,345 Year 2030 2031 2032 2033 2034 2035 2036 Asset ID 1303 1305 1501 1703 402 606 607 705 802 805 806 807 808 809 1002 1008 1111 1422 1607 1813 1126 1505 207 215 305 1121 1405 1418 402 403 601 606 803 1111 1813 1105 1126 1303 108 216 610 709 1101 1117 1119 1304 1306 1402 1403 1406 1419 2005 207 402 606 Asset Name Tot Lot Groundcover - Refill Barbecue - Replace Carpeting - Replace Irrigation Timeclocks - Replace Asphalt - Seal Coat/crack fill Wood Deck - Reseal Wood Deck - Replace HVAC System - Replace Maps - Replace Monument - Rebuild (Hess and Canterberry) Monument - Rebuild (North entrance) Monument - Rebuild ("Community Center") Monument - Rebuild (Deer Diorama) Monument - Rebuild (facility signs) Wood and Steel Rail - Replace Pool Iron Fence - Replace Pool Pumps - Replace Millwork - Replace Interior Wall Mount - Replace Breeze Path - Replenish Miscellaneous Pool Equipment - Replace Hardwood - Refinish Pool Iron Fence - Repaint Wood Panel Siding - Repaint Wood Panel Siding - Major Repairs Pool Furniture - Replace Furnishings - Replace Music System - Replace Asphalt - Seal Coat/crack fill Concrete - Repair/Replace Concrete Sidewalks - Repair Wood Deck - Reseal Mailboxes - Replace Pool Pumps - Replace Breeze Path - Replenish Pool Heater - Replace Miscellaneous Pool Equipment - Replace Tot Lot Groundcover - Refill Metal Roof - Replace Interior Surfaces - Repaint/Restain Metal Stairs/landing - Replace Elevator Cab - Remodel Pool - Resurface Pool Deck - Replace Water Slide - Replace Drinking Fountain - Replace Picnic Tables - Replace Appliances - Replace Cabinets -Replace Cardio Equipment - Replace Lockers - Replace Entry Trellis - Repair Pool Iron Fence - Repaint Asphalt - Seal Coat/crack fill Wood Deck - Reseal 16 Projected Cost $6,467 $3,593 $8,084 $13,948 $3,638 $3,788 $75,723 $60,733 $36,440 $82,818 $38,648 $24,293 $38,648 $33,790 $25,839 $40,912 $7,730 $7,249 $15,459 $52,595 $6,347 $13,847 $6,361 $99,483 $32,558 $36,085 $32,558 $8,441 $4,152 $19,815 $85,090 $4,322 $47,822 $8,821 $60,020 $71,109 $7,243 $8,059 Total Per Annum $81,862 $548,305 $20,194 $215,487 $230,041 $86,410 $299,711 $32,476 $30,274 $37,154 $255,456 $55,986 $196,780 $11,146 $24,769 $18,577 $40,870 $61,236 $24,150 $6,055 $7,585 $4,738 $4,932 $1,094,640 Year 2037 2038 2039 2040 2041 2042 Asset ID 1111 1505 1813 215 1126 1305 1418 1604 1121 402 403 601 606 1111 1303 1813 207 1126 1405 405 405 703 803 1301 1413 1501 1505 1703 215 402 606 1111 1418 1813 2005 Asset Name Pool Pumps - Replace Hardwood - Refinish Breeze Path - Replenish Wood Panel Siding - Repaint Miscellaneous Pool Equipment - Replace Barbecue - Replace Music System - Replace Pole Lights - Replace Pool Furniture - Replace Asphalt - Seal Coat/crack fill Concrete - Repair/Replace Concrete Sidewalks - Repair Wood Deck - Reseal Pool Pumps - Replace Tot Lot Groundcover - Refill Breeze Path - Replenish Pool Iron Fence - Repaint Miscellaneous Pool Equipment - Replace Furnishings - Replace Colored Concrete - Repair/Replace Stamped Concrete - Repair/Replace Water Heater Tank - Replace Mailboxes - Replace Play Equipment - Replace (Skylark) Lower Level Restrooms - Remodel Carpeting - Replace Hardwood - Refinish Irrigation Timeclocks - Replace Wood Panel Siding - Repaint Asphalt - Seal Coat/crack fill Wood Deck - Reseal Pool Pumps - Replace Music System - Replace Breeze Path - Replenish Entry Trellis - Repair 17 Projected Cost $10,066 $17,256 $68,492 $123,974 $8,265 $5,109 $10,519 $8,115 $46,992 $5,407 $25,805 $110,809 $5,629 $11,487 $10,043 $78,161 $9,046 $9,432 $46,301 $10,017 $249,709 $12,007 $68,007 $145,153 $268,803 $13,709 $21,504 $23,655 $154,494 $6,170 $6,423 $13,109 $13,109 $89,195 $8,240 Total Per Annum $113,070 $155,982 $46,992 $247,340 $64,778 $812,564 $290,740 Glossary of Commonly used Words and Phrases (provided by the National Reserve Study Standards of the Community Associations Institute) Asset or Component – Individual line items in the Reserve Study, developed or updated in the Physical Analysis. These elements form the building blocks for the Reserve Study. Components typically are: 1) Association Responsibility, 2) with limited Useful Life expectancies, 3) have predictable Remaining Life expectancies, 4) above a minimum threshold cost, and 5) required by local codes. Cash Flow Method – A method of developing a Reserve Funding Plan where contributions to the Reserve fund are designed to offset the variable annual expenditures from the Reserve fund. Different Reserve Funding Plans are tested against the anticipated schedule of Reserve expenses until the desired Funding Goal is achieved. Component Inventory – The task of selecting and quantifying Reserve Components. This task can be accomplished through on-site visual observations, review of association design and organizational documents, a review of established association precedents, and discussion with appropriate association representatives. Deficit – An actual (or projected) Reserve Balance, which is less than the Fully Funded Balance. Effective Age – The difference between Useful Life and Remaining Useful Life. Not always equivalent to chronological age, since some components age irregularly. Used primarily in computations. Financial Analysis – The portion of the Reserve Study where current status of the Reserves (Measured as cash or Percent Funded) and a recommended Reserve contribution rate (Reserve Funding Plan) are derived, and the projected Reserve income and expense over time is presented. The Financial Analysis is one of the two parts of the Reserve Study. Component Full Funding – When the actual (or projected) cumulative Reserve balance for all components is equal to the Fully Funded Balance. Fully Fund Balance (aka – Ideal Balance) – An indicator against which Actual (or projected) Reserve Balance can be compared. The Reserve balance that is in direct proportion to the fraction of life “used up” of the current Repair or Replacement cost. This number is calculated for each component, and then summed together for an association total. FFB = Replacement Cost X Effective Age / Useful Life Fund Status – The status of the Reserve Fund as compared to an established benchmark, such as percent funding. Funding Goals – Independent of methodology utilized, the following represent the basic categories of Funding Plan Goals. • • • Baseline Funding: Establishing a Reserve funding goal of keeping the Reserve Balance above zero. Component Full Funding: Setting a Reserve funding goal of attaining and maintaining cumulative Reserves at or near 100% funded. Threshold Funding: Establishing a Reserve funding goal of keeping the Reserve balance above a specified dollar or Percent Funded amount. Depending on the threshold, this may be more or less conservative than the “Component Fully Funding” method. 1 Funding Plan – An associations plan to provide income to a Reserve fund to offset anticipated expenditures from that fund. Funding Principles – • Sufficient Funds When Required • Stable Contribution Rate over the Years • Evenly Distributed Contributions over the Years • Fiscally Responsible Life and Valuation Estimates – The task of estimating Useful Life, Remaining Useful Life, and Repair or Replacement Costs for the Reserve components. Percent Funded – The ratio, at a particular point of time (typically the beginning of the Fiscal Year), of the actual (or projected) Reserve Balance to the accrued Fund Balance, expressed as a percentage. Physical Analysis – The portion of the Reserve Study where the Component Inventory, Condition Assessment, and Life and Valuation Estimate tasks are performed. This represents one of the two parts of the Reserve Study. Remaining Useful Life (RUL) – Also referred to as “Remaining Life” (RL). The estimated time, in years, that a reserve component can be expected to continue to serve its intended function. Projects anticipated to occur in the initial year have “0” Remaining Useful Life. Replacement Cost – The cost of replacing, repairing, or restoring a Reserve Component to its original functional condition. The Current Replacement Cost would be the cost to replace, repair, or restore the component during that particular year. Reserve Balance – Actual or projected funds as of a particular point in time (typically the beginning of the fiscal year) that the association has identified for use to defray the future repair or replacement of those major components in which the association is obligated to maintain. Also known as Reserves, Reserve Accounts, Cash Reserves. This is based upon information provided and is not audited. Reserve Provider – An individual that prepares Reserve Studies. Also known as Aspen Reserve Specialties. Reserve Study – A budget-planning tool that identifies the current status of the Reserve fund and a stable and equitable Funding Plan to offset the anticipated future major common area expenditures. The Reserve Study consists of two parts: The Physical Analysis and the Financial Analysis. Special Assessment – An assessment levied on the members of an association in addition to regular assessments. Special Assessments are often regulated by governing documents or local statutes. Surplus – An actual (or projected) Reserve Balance that is greater that the Fully Funded Balance. Useful Life (UL) – Also known as “Life Expectancy”, or “Depreciable Life”. The estimated time, in years, that a Reserve component can be expected to serve its intended function if properly constructed and maintained in its present application or installation. 2