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• • ?5: . '\ ,_
BROWNING RESERVE GROUP
TRAILSIDE PLACE HOMEOWNERS ASSOCIATION
il!22 51211/2010 12fS4.D.22 Version 5/2612010 5:25:40 I'M
RESERVE STUDY Full study
First Draft
Published - May 26, 201 o Prepared for the 2011 Fiscal Year
BROWNING RESERVE GROUP ~ Emmett, I D 83617 ~ Office (208) 36§-0977 Fax (208) 365-3158
www.BrowningRG.com
©Browning Reserve Group 2010
• • ~ 'l ',<;.. . ',
BROWNING RESERVE GROUP
First Draft
TRAILSIDE PLACE HOMEOWNERS Table of Contents
Section Report -----Section 1: Summary of Association Reserves
Section 11: 30 Year Expense Forecast
Section Ill: 30 Year Reserve Funding Plan
section 11/~e: 30 Year Reserve Funding Plan
Section IV: 30 Year Reserve Funding Plan
section v: Reserve Fund Balance Forecast
section VI: Component Listing
Section VII: Tabular Component Listing
Section Vll~a: Expenditures by Year
section IX: Directory of Reserve Study Contractors
section X: Auditor Notes
Section X-a: Supplementary Information for Auditor
Section XI: Glossary
Addendum:
Detailed
Cash Flow Method {c)
Cash Flow Method ~ Ending Balances Chert
Fully Funded Balance and % Funded
Component Method
Included Components
JnciiJded Components
For 1 Year
Component Method
Reserve Study Terms
Homeowner Distribution Materials See Page if for Details
1622 5/26/2010 12184.0.22
Version 5/26/2010 5:25:40 PM ©Browning Reserve Group 2010
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TOC- i
BROWNING RESERVE GROUP
First Draft
TRAILSIDE PLACE HOMEOWNERS Homeqwner Djstrjbutjpo Materials
The following Reserve Study sections should be provided to each Homeowner. ____ s~e~c~ti~on~- ~R~ep~o~rt __________________________________________________________ ___
Idaho: Homeowner Summary
1622 !i/26/2010 12fs4.0.22 V$rskln 612'6/2010 6:26:40 PM ©Browning Reserve Group2010
Page
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TOG- ii
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BROWNING RESERVE GROUP
Reserve Study
Full Study
Prepared for the 2011 Fiscal Year
Section I First Draft
Trailside Place Homeowners Association
A Reserve Study was conducted of Trailside Place Homeowners AsSociation (the. "Association"). This study is a Full Study which includes an on-site review upon Where the foHowing tasks are performed:
• development of a reserve component inventory; • condition aS$esement ba$ed upon on-site viSU!ll observation; • life and valuation estimates; • fund status; • and a funding plan.
Trailside Place Homeowners Association is a Planned Development with a total of 110 Lot Lots.
Physical I hspection
Browning Reserve Group ("BRG") conducted a physical inspection of the Association. The Inspection encompassed those major components that the Association is required to maintain. For this study components are determined to be major components if:
1. A& of the date of the study, they have a remaining us&fullife of le$$ than 30 years, and a value greater than $1,000.
2. Such additional components, if any, determined by the Board of Directors.
During the inspection, BRG utilized the services of our own construction cost estimator. I ri ad-dition, independent contractors were retarned to render opinlons on selected components as indicated in Sectjon VI. Included Coropongnt Usting.
Supplemental information to the physical inspection may have been obtained from the following\ sources:
1. Project ph;ms where available.
2. Maintenance records of the reserve components where available.
~. Association board members, management and staff.
1G22 &/26/2010 12!84.0.22 V~>rslon 5/26/2010 5:25:40 PM
~ Emmett, I D 83617 - Office (208) 365-0977 Fax (208) 365-3158 www.BrowningRG.com
© Browning Reserve Group 20 1 o
Reserve Study • Full Study Trailside Place Homeowners Association
Summary of Reserves
For the first year of the Reserve Study, the reserve contribution is based upon the existing budget 1,1nless otherwise noted in "Section III, Reserve Funding Pkm. n In addition BRG relied on the Association to provide an accurate Beginning Reserve Balance.
The status Qf the Association's reserves, as reflected in the foUowing Reserve Study, is as follows:
1. The f:xpendtture Forecast of the following Reserve Study Identifies the major components which the Association is obligated to repair, replace, restore or maintain, as determined tn accordanoe with the criteria specified above, artd specifies for each such component:
a. Its current estfmated replacement cott; b. Its estimated useful life; and
o. I t1 esthnated remaining useful life.
2. It Is estimated that the total cash reserves necessary to repair, replace, restore or maintain such major components (In the aggregate) during and at the end of their first remaining useful life Is $SS,825.
• {For purposes of this cak:ulation, "necessary~ Is defined as the Fully Funded Balance (FFB) (Component Current Cost X Effective Age I Useful Life, 1nch1dJng a provision for Interest and htflatton in future years.)]
3. The current amount of accumulated cash reserves actually set aside to repair, reptace, restore, or maintain such major components as of the fiscal year ending December 31, 2011 is estimated to be $18,728, constituting 33.5% of . the ~otat expenditures anticipated for all such major components through their first end of useful life replac;emertt.
4. Based upon the sched1de of annual reserve contributions necessary to defray the cost of repairing, replacing, restoring or maintaining such major components in the years such expenditures are estimated to be required, It Is estimated that annual reserve contributions In the Initial amount of $19.800 ($1S.iJO per Lot per mopth t•v•uageJJ for the fiscal year ending December 31, 2011 (the first fuJI fiscal year following first distribution of this report} will be necessary In order to meet att such reserve expenditures when they are projected to come due.
Reserve Study • Full Study Trailside Place Homeowners Association
Funding Assessment
Based on the 30 year cash flow projection, the Association's reserves appear adequately funded as the reserve fund ending balances remain positive throughout the replacement of all major components during the next 30 years.
Idaho statute lmp()ses .n2 reserve funding level requirements nor does it address funding level adequacy, and although ol1e or more of the reserve fund percentages expressed in this report may be less than one hundred percent, those percentages do not necessarily indicate that the Association's reserves are inadequately funded.
Percent Funded Status
Based on paragraphs 1 - 3 above, the Association is 33.5% funded. The following scale can be used as a measure to determine the associationfs financial picture whereas the lower the percentage, the higher the likelihood of the Association requiring a special assessment, or other large increases to the reserve contribution in the future.
------·-·--·- Poor -·----····-· 30% ··-··-·······--··-· Fair --··--····-···-·····- 70% ··-···-·· strong ---·--····· 11 Methodology
The above recommended reserve contribution for the next fiscal year (and future fiscal years as outlined in $1Cil9a Ill, &l~tt:~ Euo.rl B.itf§nct Eoreru~so was developed using the cash flow method. This is a method of developing a reserve funding plan where the contribution$ 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 sohedute of reserve expenses until the desired .funding .goal Is achieved.
Funding Goals
The funding goal employed for Trailside Place Homeowners Association Is
Threshplsl FuMing: Establishing a Reserve funding goal of keeping the Re$erve balance above a specified dollar or Percent Funded amount.. Depending on the threshold, this may be more or less conservative than "Fully Funding."
3
Reserve Study - Full study Trailside Place Homeowners Association
Limitations
The intention of the Reserve Study is to forecast the Association's ability to repair or replace major components as they wear out in future years. The Reserve Study is not an engineering report. The costs outlined in the study are for budgetary and planning purposes only. Amual bid (f()Sts would depend upon the defined scope of work at the time repairs are made. Also, any latent defects are excluded from this report. It should be noted no destructive testing was performed.
Statutory Disclosures
Compliance The Reserve Study complies with or exceeds all applicable statutes, if any.
Supplemental Disclosures
General:
BRG has no other involvement{s) with the AssOCiation which could result in actual or perceived conflicts of interest.
Personnel Credentials:
N. Anthony Dann graduated from Cal State Northridge with Bachelors & Master of Science degrees in Business Admini-stration, Management and Finance.
Diane M. Dann has a Certified Property Manager designation from the Institute of Real Estate Management.
Cc:)m pleteness:
SRG has found no material issues which, if not disclosed, would cause a distortion of the Association's situation.
Reliance on Client Data:
Information provided by the official representative of the Association regarding financial, physical, quantity, or historical Issues will be deemed reliable by BRG.
scope:
This Reserve Study Is q reflection of information provided to BRG and assembled for the Association's use, not for the purpose of performing an audit, quality/forensic analysis, health and safety in$pection, or background checks of histoticat records.
Reserve Balance:
The actual beginning reserve fund balanee in this Reserve Study is based upon information provided and was not audited.
4
~eserve Study - Full Study Trailside Place Homeowners Association
Reserve Projects:
I nformatioh provided about reserve projects will be considered reliable. Any on~site inspection should not be considered a project audit, quaUty inspection, or health and safety review. ·
• • • Trailside Place Homeowners Association
BROWNING RESERVE GROUP
30 Year Expense Forecast- Detailed
Current Life Replacement Useful/
ReseTVe Component Cost Remaining 2010 2011 2012 2013 2014 2015 2016 2017
01000- Paving 100 -Asphalt: Sealing {131,600 Sq. A:. Streets}
12,278 4 0 12,:n8 13,553
200 - Asphalt: Repairs: On-going {Streets} 1,500 4 4 1,656
Total 01000 - Paving 13,778 12,278 15,209
02000 - Concrete 900 - Miscellaneous {Common Area} 1,000 5 0 1,000 1,131
Total 02000 - Concrete 1,000 1,000 1,131
03000 - Painting: Exterior 150 - stain {Picnic Area Shade Structure} 800 5 0 800 905
151 - Stain {Childrens Playgro\lnd}[nr:3] 600 5 0 600 679
400 -Wrought Iron {1,155 Un. Ft. Perimeter 5,600 7 1 5,740 Fence}
450 - Wood Fencing {Amity Road Fence} 1,000 3 3 1,077 1,160
451 - Wood Fencing {East Perimeter 1,000 3 6 1,160 Fencing}
452 - Wood Fencing {West Perimeter 1,000 3 9 Fencing}
500 - Light Poles { 15 Street lights} 600 7 2 630
Total 03000 - Painting: Exterior 10,600 1,400 5,740 630 1,077 1,584 2,319
04000 - Structural Repairs 970 -Mailboxes {5 Cluster Mailboxes -One 6,750 25 20 Half}
971 -Mailboxes {5 Cluster Mailboxes- One ii,750 25 22 Half}
Total 04000 - Structural Repairs 13,500
17500- Basketball I Sport Court 900 - Miscellaneous {2 Basketball Court} 1,500 20 15
Total 17500 - Basketball I Sport 1,500 Court
18000 - Landscaping 100 -Irrigation: Misc. {Landscaping} 1,500 3 3 1,615 1,740
400 -Turf Renovation {Landscaping} 5,000 15 10
420 - General Repairs/Upgrades 3,000 5 5 3,394 {Landscaping}
490 - Bark Replacement {Landscaping} 3,000 3 1 3,075 3,311 3,566
1622 05/26/2010 12fs4.0.22 Trailside Place Homeowners Association Version 5/26/2010 5:25:40 PM © Browning Reserve Group 2010
Section II First Draft
Prepared for the 2011 Fiscal Year
2018 2019 2020 2021 2022 2023 2024
14,960 16,513
1,828 2,017
16,787 18,530
1,280
1,280
1,024
71;i8
6,823
1,249 1,345
1,249 1,345
1,249 1,345
749
6,823 4,496 1,792 4,035
1,873 2,017
6,400
3,840
3,840 4,136
2010 to2024 6
/ ~
30 Year Expense Forecast- Detailed
Current Life Replacement Useful(_
Reserve Component Cost Remaining 2010
500 • Tree Maintenance {L!Indscaplng} ·2,000 5 5
Total 18000 · Landscaping 14,500
19000- Fencing 340 · Wood: 6' {820 Un. Ft. Amity Road 13,366 20 0 13,366 Fence}
341 ·Wood: 6' {855 Un. Ft. West Perimeter 17,100 20 3 Fencing}
342 • Wood: 6' {930 Lin. Ft. East Perimeter 18,600 20 6 Fencing}
Total 19000 · Fencing 49,066 13,366
20000 - Lighting 200 • Street Lights { 15 Street Lights 3,299 1 23 (13.3%)}
Total 20000 • Lighting 3,299
21000- Signage 792 • Monument {2 Rock Monument Signs} 1,200 7 2
Total 21000 • Slgnage 1,200
26000 - Outdoor Equipment 100 ·Tot Lot {Childrens Playground}[nr:1] 6,000 20 15
S40 • Shade Structure {Picnk: Area Shade 1,500 5 15 Structure (15%)}
Total 26000 • Outdoor Equipment 7,500
30000 - Miscellaneous 170 ·Storm Drains {Storm Drains} 1,500 30 25
Total 30000 · Miscellaneous 1,500
31000 - Reserve Study 100 • 3 Year Update with Site Visit {Reserve 850 3 3 Study}
Total 31000 • Reserve Study 850
32000 - Undesignated 100 • Miscellaneous {Common Area} 500 2 1
Total 32000 • Undesignated 500
Total Expenditures Inflated @ 2.50% 28,044
Total Current Replacement Cost 118,793
1622 05/26/2010 12fs4.0.22
Version 5/26/2010 5:25:40 PM ©Browning Reserve Group 2010
2011 2012 2013 2014 2015 2016 2017
2,263
3,075 1,615 3,311 5,657 1,740 3,566
18,415
21,570
18,415 21,570
1,261
1,261
915 986
915 986
513 538 566 594
513 538 566 594
9,328 1,891 22,561 18,520 8,938 26,615 4,160
Trailside Place Homeowners Association
First Draft
Prepared for the 2011 Fiscal Year
2018 2019 2020 2021 2022 2023 2024
2,560
1,873 16,641 2,017 4,136
1,499
1,499
1,062 1,143
1,062 1,143
624 656 689
624 656 689
23,611 9,554 19,713 656 25,725 4,825 0
2010 to 2024 7
30 Year Expense Forecast-oetailecJ First Draft Prepared for the 2011 Fiscal Year
Reserve Component 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 -01000 - Paving
100- Asphalt: Sealing {131,600 Sq. Ft. 18,227 20,119 22,208 24,514 Streets}
200 - Asphalt: Repairs: on-going {Streets} 2,227 2,458 2,713 2,995
Total 01000 - Paving 20,454 22,577 24,921 27,508
02000- Concrete 900 - Miscellaneous {Common Area} 1,448 1,639 1,854
Total 02000 - Concrete 1,448 1,639 1,854
03000 - Painting: Exterior 150 - Stain {Picnic Area Shade structure} 1,159 1,311 1,483
151 - Stain {Childrens Playground}[nr:3]
400 - Wrought Iron {1,155 un. Ft. Perimeter 8,110 9,641 11,460 Fence}
450 - Wood Fencing {Amity Road Fence} 1,448 1,560 1,680 1,809 1,948
451 -Wood Fencing {East Perimeter 1,448 1,560 1,680 1,809 1,948 Fencln }
452 - Wood Fencing {West Perimeter 1,448 1,560 1,680 1,809 1;948 Fencing} 500 - Ught Poles { 15 Street Lights} 891 1,059
Total 03000 - Painting: Exterior 13,614 891 4,679 1,311 5,039 9,641 1,059 5,426 1,483 5,843 11,460
04000- Structural Repairs 970 -Mailboxes {5 Cluster Mailboxes -One 11,061 Half}
· 971 - Mailboxes {5 Cluster Mailboxes - One 11,621 Half}
Total 04000 - structural Repairs 11,061 11,621
17500 - Basketball I Sport Court 900 - Miscellaneous {2 Basketball Court} 2,172
Total 17500 - Basketball/ Sport 2,172 Court
18000 - Landscaping 100 -Irrigation: Misc. {Landscaping} 2,172 2,339 2,519 2,713 2,922
400 -Turf Renovation {Landscaping} 9,270
420 - General Repairs/Upgrades 4,345 4,916 5,562 {Landscaping}
490 - Bart< Replacement {Lanclsceping} 4,454 4,796 5,165 5,562 5,989
500 -Tree Maintenance {Landscaping} 2,897 3,277 3,708
Total 18000 - Landscaping 9,414 4,454 2,339 4,796 8,193 2,519 5,165 2,713 24,101 2,922 5,989
19000- Fencing 340 -Wood: 5• {820 Un. Ft. Amity Road 21,902 Fence} 341 -Wood: 6' {855 Un. Ft. West Perimeter 30,175 Fencing}
1622 05/26/2010 12fs4.0.22 Trailside Place Homeowners Association 8 Version 5/26/2010 5:25:40 PM © Browning Reserve Group 2010 2025to2039
30 Year Expense Forecast- Detailed
Reserve Component 2025
342 -Wood: 6' {930 Un. Ft. East Perimeter Fencing}
Total 19000 - Fencing
20000 - Lighting 200 - Street Ughts { 15 Street Ughts (13.3%)}
Total 20000 - Lighting
21000- Signage 792 - Monument {2 Rock Monument Signs}
Total 21000 - Slgnage
26000 - Outdoor Equipment 100- Tot Lot {Chlldrens Playground}[nr: 1] 8,690
840 - Shode structyre {Pig,lc; Area Shade 2,174 Structure (15%)}
Total 26000 -outdoor Equipment 10,862
30000- Miscellaneous 170 - Storm Drains {Storm Drains}
Total 30000 - Miscellaneous
31000 - Reserve Study 100 - 3 Year Update with Site Visit {Reserve 1,231 study}
Total 31000 - Reserve Study 1,231
32000- Undesignated 100 - Miscellaneous {Common Area} 724
Total 32000 - Undesignatad 724
Total Expenditures Inflated @ 2.50% 39,466
1622 05/26/2010 12fs4.0.22 Version 5/26/2010 5;25:40 PM © Browning Reserve Group 2010
2026 2027 2028 2029 2030 2031 2032
21,902
1,781
1,781
2,458
2,458
1,326 1,428
1,326 1,428
761 799 840
761 799 840
27,580 761 8,344 5,595 69,140 9,826 26,426
Trailside Place Homeowners Association
First Draft Prepared for the 2011 Fiscal Year
2033 2034 2035 2036 2037 2038 2039
35,345
30,175 35,345
5,822 5,967 6,116 6,269 6,426 6,587 6,751
5,822 5,967 6,116 6,269 6,426 6,587 6,751
2,118
2,118
2,781
2,781
2,781
2,781
1,537 1,656
1,537 1,656
882 927 974 1,023
882 927 974 1,023
40,055 40,565 40,044 41,615 17,821 40,085 19;235
2025to2039 9
Period I Year
1) 00/2010 2)
30 Year Reserve Funding Plan Cash Flow Method
Reserve Funding Plan - Footnotes
Reserve Contribution of $19,800 for 2010 calculated by BRG.
Special Assessment of $16,500 ($150 per unit) to fund a Reserve Account.
1622 05/26/2010 12fs4.0.22 Version 5/26/2010 5:25:40 PM © Browning Reserve Group 2010
First Draft
Prepared for the 2011 Fiscal Year
11
• • •
BROWNING RESERVE GROUP
§ .!!!
= 1 i.
$140,000
$120,000
$100,000
$80,000
$60,000
$40,000
$20,000
$0 lL
Trailside Place Homeowners Association
30 Year Reserve Funding Plan Cash Flow Method - Ending Balances
t- -
- - -
-
-
- 1- 1- -
- -
r-- 1-
- 1-
- -
Section III-a First Draft
Prepared for the 2011 Fiscal Year
1- 1- - 1- 1- f-.
~ ~ y ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ & ~ ~ ~ # ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~(;) ~ ~(;) ~ ~(;) ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
1622 05/26/2010 12fs4.0.22 Version 5/26/2010 5:25:40 PM © Browning Reserve Group 2010
Years
12
• • •
BROWNING RESERVE GROUP
Year
2010
2011
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 1622 05/26/2010 12fs4.0.22
Version 5/26/2010 5:25:40 PM
Trailside Place Homeowners Association
30 Year Reserve Funding Plan Including Fully Funded Balance and % Funded
Inflated Beginning Fully Funded Percent Expenditures Resetve Special Assessments
Balance Balance Funded @2.50% Contribution & Other Contributions
0 72,332 11.4% 28,044 19,800 16,500
8,256 55,825 33.5% 9,328 19,800 0
18,728 60,437 60.6% 1,891 19,800 0
36,637 73,129 46.3% 22,561 19,800 0
33,876 65,326 53.8% 18,520 19,800 0
35,156 62,104 74.1% 8,938 19,800 0
46,018 68,999 56.8% 26,615 19,800 0 39,203 58,354 94.0% 4,160 19,800 0
54,843 71,144 71.7% 23,611 19,800 0
51,032 64,716 94.7% 9,554 19,800 0
61,278 72,950 84.1% 19,713 19,800 0 61,365 71,250 113.0% 656 19,800 0
80,509 89,799 83.1% 25,725 19,800 0
74,584 83,557 107.2% 4,825 19,800 0
89,559 99,037 110.4% 0 19,800 0
109,359 120,316 74.5% 39,466 19,800 0
89,693 101,714 80.5% 27,580 19,800 0
81,913 95,320 105.9% 761 19,800 0
100,952 116,771 96.8% 8,344 20,394 0
113,002 131,531 97.6% 5,595 21,006 0
128,413 150,077 53.9% 69,140 21,636 0
80,909 104,663 89;2% 9,826 22,285 0
93,368 119,927 75.0% 26,426 22,954 0
89,896 121,066 60.7% 40,055 23,643 0
73,484 111,878 51.2% 40,565 24,352 0 57,270 102,658 41.2% 40,044 25,083 0 42,310 94,482 28.1% 41,615 25,835 0
26,530 85,248 41.4% 17,821 26,610 0
35,319 100,949 22.4% 40,085 27,408 0 22,643 95,017 33.3% 19,235 28,230 0
Trailside Place Homeowners Association © Browning Resetve Group 2010
Section IV First Draft
Prepared for the 2011 Fiscal Year
Ending Interest Balance
0 8,256
0 18,728
0 36,637
0 33,876
0 35,156
0 46,018
0 39,203
0 54,843
0 51,032
0 61,278
0 61,365
0 80,509
0 74,584
0 89,559
0 109,359
0 89,693
0 81,913
0 100,952
0 113,002
0 128,413
0 80,909
0 93,368
0 89,896
0 73,484
0 57,270
0 42,310
0 26,530
0 35,319
0 22,643
0 31,638
13
• • • Trailside Place Homeowners Association
BROWNING RESERVE GROUP
Reserve Fund Balance Forecast Component Method
Estimated Future
Reserve Component Current Useful Remaining Replacement
01000 - Paving 100- Asphalt: Sealing {131,600 Sq. Ft. Streets}
200- Asphalt: Repairs: On-going {Streets}
Sub-total [01000- Paving]
02000 - Concrete 900- Miscellaneous {Common Area}
03000 - Painting: Exterior 150- Stain {Picnic Area Shade Structure}
151- Stain {Childrens Playground}[nr:3]
400- Wrought Iron {1,155 Un. Ft. Perimeter Fence}
450 - Wood Fencing {Amity Road fence}
451- Wood Fencing {East Perimeter Fencing}
452 - Wood Fencing {West Perimeter Fencing}
500- Ught Poles {15 Street Lights}
Sub-total [03000- Painting: Exterior]
04000- Structural Repairs 970 -Mailboxes {5 Ouster Mailboxes- One Half}
971 - Mailboxes {5 Cluster Mailboxes - One Half}
Sub-total [04000 - Structural Repairs]
17500 - Basketball I Sport Court 900 - Miscellaneous {2 Basketball Court}
18000 - Landscaping 100- Irrigation: Misc. {Landscaping}
Rep/. Cost
12,278 1,500
13,778
1,000
800 600
5,600 1,000 1,000 1,000·
600 10,600
6,750 6,750
13,500
1,500
1,500
Life Life Costs
4 0 12,278 4 4 1,656
13,934
5 0 1,000
5 0 800 5 0 600 7 1 5,740 3 3 1,077 3 6 1,160 3 9~ 1,249 7 2 630
11,256
25 20 11,061 25 22 11,621
22,681
20 15 2,172
3 3 1,615
Per Year
3,070 331
3,401
200
160 120 820 269 166 125
90 1,750
442 465 907
109
404
1622 05/26/2010 12fs4.0.22 Version 5/26/2010 5:25:40 PM
Trailside Place Homeowners Association © Browning Reserve Group 2010
2010Ful/y Funded Balance
12,278 300
12,578
1,000
800 600
4,800 250 143 100 429
7,121
1,350 810
2,160
375
375
Section V First Draft
Prepared for the 2011 Fiscal Year
2011 Line Item
2011 Fully Contribution Funded %Per Year based on Balance Straight Line Cash Flow Method
3,146 22.90% 4,535 384 2.47% 489
3,531 25.37% 5,024
205 1.49% 295
164 1.19% 236 123 0.90% 177
5,740 6.12% 1,211 342 2.01% 398 171 1.24% 245 114 0.93% 184 527 0.67% 133
7,181 13.06% 2,585
1,661 3.30% 654 1,107 3.47% 687 2,768 6.77% 1,340
461 0.81°/o 160
513 3.01% 597
14
Reserve Fund Balance Forecast First Draft Component Method Prepared for the 2011 Fiscal Year
2011 Estimated Line Item
Future 2010 Fully 2011 Fully Contribution
'" Current Useful Remaining Replacement Per Funded Funded %Per Year based on Reserve Component Rep!. Cost Life Life Costs Year Balance Balance Straight Line cash Flow Method
400 -Turf Renovation {Landscaping} 5,000 15 10 6,400 427 1,667 2,050 3.18% 630 420- General Repairs/Upgrades {Landscaping} 3,000 5 5 3,394 566 500 615 4.22% 836 496- Bark Replacement {Landscaping} 3,000 3 1 3,075 1,025 2,000 3,075 7.65% 1,514 500 - Tree Maintenance {Landscaping} 2,000 5 5 2,263 377 333 410 2.81% 557
Sub-total [18000 - landscaping] 14,500 16,748 2,798 4,875 6,663 20.88% 4,134
19000 - Fencing 340- Wood: 6' {820 Lin. Ft. Amity Road Fence} 13,366 20 0 13,366 668 13,366 685 4.99% 987 341- Wood: 6' {855 Lin. Ft. West Perimeter Fencing} 17,100 20 3"'-. 18,415 921 14,535 15,775 6.87% 1,360 342 - Wood: 6' {930 lin. Ft. East Perimeter Fencing} 18,600 20 6 21,570 1,079 13,.020 14,299 8.05% 1,593
Sub-total[19000 - Fencing] 49,066 53,351 2,668 40,~21 30,759 19.90% 3,941
20000- Lighting 200 ·Street Lights {15 Street Ughts (13.JOA>)} 3,299 1 23 5,822 243 137 147 1.81% 358
21000 - Signage 792 - Monument. {2 Rock Monument Signs} 1,200 7 2 1,261 180 857 1,054 1.34% 266
26000 - Outdoor Equipment 100- Tot Lot {Childrens Playground}[nr:11 6,000 20 15 8,690 434 1,500 1,845 3.24% 642 840- Shade Structure {Picnic Area Shade Structure (15%)} 1,500 5 15 2,172 136 94 103 1.01% 201
Sub-total [26000 - Outdoor Equipment] 7,500 10,862 570 1,594 1,948 4.25% 842
30000 - Miscellaneous 170 - Storm Drains {Storm Drains} 1,500 30 25 2,781 93 250 308 0.69% 137
31000 - Reserve Study 100 - 3 Year Update with Site Visit {Reserve Study} 850 3 3 915 229 213 290 1.71% 338
32000 - Undesignated
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Reserve Fund Balance Forecast Component Method
Estimated Future
Current Useful Remaining Replacement Reserve Component Rep/. Cost Life Life Costs
100- Miscellaneous {Common Area} 500 2 1 513
Totals 118,793 143,296
Percent Funded
Per Year
256
13,403
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First Draft
Prepared for the 2011 Fiscal Year
2011 Line Item
2010 Fully 2011 Fully Contribution Funded Funded %Per Year based on Balance Balance Straight Line Cash Flow Method
250 513 1.91% 379
[A] [B]
72,332 55,825 100.00% 19,800
[EndBal] [EndBal] ---
[A] [B]
11.41% 33.55%
16
. . '",' '~~ ll-. ,\
Trailside Place Homeowners Association
BROWNING RESERVE GROUP
Component Listing Section VI
First Draft Included Components Prepared for the 2011 Fiscal Year
o1.ooo- Paving 100 - Asphalt: Sealing
131,600 Sq. Ft. Streets
Useful Life 4 Remaining Life 0 Quantity 131,600 Unit of Measure Square Feet
Cost /SqFt $0.093
% Included 100.00% Total Cost/Study $12,278
Summary Replacement Year 20~0 Future Cost $12,:278
This Is to apply a single coat asphalt emulSion product $UC::h as "As Premiere One". Includes asphalt surface preparation prior to application. Cost estimate includes painting of speed bumps and sealing of common area walkway and the asphalt sewer easement located at east end of E. Tallow Ulne. If the ongoing repairs and sealing is done on a four year cycle, an overlay most likely can be avoided. Square footage, cost estimate and useful life provided by Steve Cash of Aaphalt Systems Co., I.LC
Costing provided by Asphalt Systems Co., LLC
200 - Asphalt: Repairs: On-going
Streets
Useful Life 4 Remaining Life 4
Summary
Quantity 1
Cost /LS $1,500
% Included 100.00%
Replacement Year 2014
Unit of Measure Lump Sum
Total Cost/Study $1,500
Future Cost $1,656
This is for miscellaneous repairs including crackfill, skin patching and minor dig out & fill. Cost estimate and useful life provided by Steve Cash of Asphalt Systems Co., Inc.
Costing provided by Asphalt Systems Co., LLC
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Component Listing Included Components
First Draft
Prepared for the 2011 Fiscal Year
02000 - Concrete 900 - Miscellaneous
Common Area
Summary
Useful Life 5 Remaining Life 0 Quantity 1 Cost /LS $1,000
% Included 100.00%
Replacement Year 2010
Unit of Measure Lump Sum
Total Cost/Study $1,000
Future Cost $1,000
Tills is for miscellaneous CQncrete repair to Include sidewalks, curbs, gutters, pitnic area and basketball court as needed.
03000 - Painting: Exterior 150- Stain
Picnic Area Shade Structure
Summary
Useful Life 5 Remaining Life 0 Quantity 1
Cost /LS $800
% Included 100.00%
Replacement Year 2010
Unit of Measure Lump Sum
Total Cost/Study $800
Future Cost $800
This is to paint the shade structure with a premium stain such a Kelly Moore or Sherwin Williams. Preparation includes power washing, masking, covering, sanding, scraping, caulking and filling as needed. Cost estimate, useful life and remaining life by Art Eccles of Eccles Pa
Costing provided by Eccles Painting
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Component Listing First Draft Included Components Prepared for the 2011 Fiscal Year
03000 - Paintinri: Exterior 15i- Stain
Children$ Playground Useful Life 5 Remaining Life 0 Treatment [nr:3]
Quantity 1 Unit of Measure Lump Surn Cost /LS $600
% Included 100.00% Total Cost/Study $600 Summary Replacement Year 2010 Future Cost $600
This is to paint the children'$ wood playground structur• with a premium stain such a Kelly Moore or ShetWin Williams. Preparation includes power washing, masking, covering, sanding, scraping, caulking and filling as needed. Cost estimate, useful life and remaining life by Art Eccles of Eccles
Costing provided by Eccles Painting
400 - Wrought Iron
1,155 Lin. Ft. Perimeter Fence
Summary
Useful Life 7 Remaining Life 1 Quantity 1,155 Unit of Measure Linear Feet
Cost /I. f. $4.85
% Included 100.00%
Replacement Year 2011
Total Cost/Study $5,600 Future Cost $5,740
This Is to paint the wrought iron fencing with a premium direct to metal product. Preparation Includes sanding, scraping and primer as necessary. Cost estimate and useful life provided by Art Eccles of Eccles Painting.
Linear footage is approximate based on measurements by BRG.
Costing provided by Eccles Painting
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Component Listing First Draft Included Components Prepared for the 2011 Fiscal Year
03000 - Painting: Exterior 450 - Wood Fencing
Amity Road Fence
Useful Life 3 Remaining Life 3 Quantity 1 Unit of Measure Lump Sum
Cost /LS $1,000
% Included 100.00% Total Cost/Study $1,000
Summary Replacement Year 2013 Future Cost $1,077
This is to prep and stain the l.x6 dog eared wood cedar fence installed in 2010 with a nrEJmi,um Messmer's UV or equal. Cost estimate and useful life provided by Max McCammon of
Costing provided by Falling Star LLC
451 - Wood Fencing
East Perimeter Fencing
Summary
Useful Life 3 Remaining Life 6 Quantity 1 Unit of Measure Lump Sum
Cost /LS $1,000
%Included 100.00%
Replacement Year 2016
Total Cost/Study $1,000
Future Cost $1,160
This is to prep and stain the east perimeter fence starting three years from installation projected in 2013. Product to be a premium wood stain such as Messmer's UV or equal. Cost estimate and useful life provided by Max McCammon of Falling Star LLC.
Costing provided by Falling Star LLC
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.Component Listing First Draft Included Components Prepared for the 2011 Fiscal Year
03t:ioo - .Paiiiting: Exterior 452 - Wood Fencing
West Perimeter Fencing
Summary
Useful Life 3 Remaining Life 9 Quantity 1
Cost /LS $1,000
% Included 100.00%
Replacement Year 2019
Unit of Measure Lump Sum
Total Cost/Study $1,000
Future Cost $i,249
This Is to prep and stain the west perimeter fence starting three years from installation projected In 2016. Product to be a premium wood stain such as Messmer's UV or equal. Cost estimate and useful life provided by Max McCammon of Falling Star LLC.
Costing provided by Falling Star LLC
500 - Light Poles
15 Street Lights
Summary
Useful Life 7 Remaining Life 2 Quantity 15 Unit of Measure Items
Cost /Itm $40.00
% Included 100.00%
Replacement Year 2012
Total Cost/Study $600
Future Cost $630
This is to prep and paint the light poles with a premium direct to metal product. Cost estimate and useful life provided by Art Eccles of Eccles Painting.
Costing provided by Eccles Painting
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Component Listing First Draft Included Components Prepared for the 2011 Fiscal Year
o4ooo - StructuriJI R.epiJirs 970 - Mailboxes
5 Cluster Mailboxes - One Half
Summary
Useful Life 25 Remaining Life 20 Quantity S Unit of Measure Items
Cost /Itm $1,350
% Included 100.00%
Replacement Year 2030
Total Cost/Study $6,750
Future Cost $11,061
Thi$ is to replace one half of the cluster mailboxes.
Costing provided by Mailboxichange
971 - Mailboxes
5 Cluster Mailboxes - One Half
Summary
Useful Life 25 Remaining Life 22 Quantity 5 Unit of Measure Items
Cost /Itm $1,350
% Included 100.00%
Replacement Year 2032
Total Cost/Study $6,750
Future Cost $11,621
This is to replace one half of the cluster mailboxes.
Costing provided by Mailboxichange
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Component Listing First Draft Included Components Prepared for the 201.1. Fiscal Year
1.7soo- llasket:ball 1 Sport court 900 - Miscellaneous
2 Basketball Court
Useful Life 20 Remaining Life 15 Quantity 2 Unit of Measure Lump Sum
Cost /LS $750
% Included 100.00% Total Cost/Study $1,500
Summary Replacement Year 2025 Future Cost $2,172
This is to remove and replace both backboards and rims. Cost estimate and useful life provided by Tom Nicotera of Institutional Basketball Systems.
18000- Landscaping
100 - Irrigation: Misc.
Landscaping
Summary
Useful Life 3 Remaining Life 3 Quantity 1
Cost /LS $1,500
% Included 100.00%
Replacement Year 2013
Unit of Measure Lump Sum
Total Cost/Study $1,500
Future Cost $1,615
This is for major repairs to the irrigation components in excess of the operating budget. Includes replacement of 4 time clocks, 3 backflow preventer valves, miscellaneous valves and underground pvc piping as needed. Cost estimate provided by Travis Krahn of Big Sky Outdoor Co.
Costing provided by Big Sky Outdoor Company
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Component Listing First Draft Included Components Prepared for the 2011 Fiscal Year
1.8000- Landscaping
400- Turf Renovation
Landscaping
Summary
Useful Life 15 Remaining Life 10 Quantity 1 Unit of Measure Lump Sum
Cost /LS $5,000
% Included 100.00%
Replacement Year 2020
Total Cost/Study $5,000
Future Cost $6,400
This is for renovating the common area turf utilizing a sod cutter, replacing top soil and sod as needed. Cost estimate and useful life provided by Travis Krahn of Big Sky Outdoor cnrnm~nv
Costing provided by Big Sky Outdoor Company
420 - General Repairs/Upgrades
Landscaping
Useful Life 5 Remaining Life 5
Summary
Quantity 1
Cost /LS $3,000
% Included 100.00%
Replacement Year 2015
Unit of Measure Lump Sum
Total Cost/Study $3,000
Future Cost $3,394
This is to have funds in excess of the operating budget for miscellaneous plantings, removals and other work as directed by the association. Cost estimate provided by Travis Krahn of Big Outdoor rnr,.,n:~nv
Costing provided by Big Sky Outdoor Company
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Component Listing First Draft Included Components Prepared for the 2011 Fiscal Year
:zsooo - l.alldscaplng 490 - Bark Replacement
Landscaping
Summary
Useful Life 3 Remaining Life 1 Quantity 1
Cost /LS $3,000
% Included 100.00%
Replacement Year 2011
Unit of Measure Lump Sum
Total Cost/Study $3,000
Future Cost $3,075
This is for replacing landscape bark in the bedding areas. Cost estimate provided by Travis Krahn of Big Sky Outdoor Company.
Costing provided by Big Sky Outdoor Company
500 - Tree Maintenance
Landscaping
Summary
Useful Life 5 Remaining Life 5 Quantity 1
Cost /LS $2,000
% Included 100.00%
Replacement Year 2015
Unit of Measure Lump Sum
Total Cost/Study $2,000
Future Cost $2,263
This is to prune, remove and replace trees as needed to enhance the association's landscaping and to avoid branch and root damage to nearby objects. This is in excess of the operating budget. Cost estimate provided by Travis Krahn of Big Sky Outdoor Company.
Costing provided by Big Sky Outdoor Company
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Component Listing First Draft Included Components Prepared for the 2011 Fiscal Year
Jsooo- Fenctng 340- Wood: 6'
820 Lin. Ft. Amity Road Fence
Summary
Useful Life 20 Remaining Life 0 Quantity 820 Unit of Measure Linear Feet
Cost /I. f. $16.30
% Included 100.00%
Replacement Year 2010
Total Cost/Study $13,366
Future Cost $13,366
This is to replace the lx6 wood fencing including discarded fence material removal and disposal. Fence was replaced in 2010 at above cost. Cost and useful life provided by Max McCammon of Fallng Star LLC.
Linear footage is approximate based on measurements by BRG.
Costing provided by Falling Star LLC
341 - Wood: 6'
855 Lin. Ft. West Perimeter Fencing
Summary
Useful Life 20 Remaining Life 3 Quantity 855 Unit of Measure Linear Feet
Cost /l.f. $20.00
% Included 100.00%
Replacement Year 2013
Total Cost/Study $17,100
Future Cost $18,415
This is to replace the lx3 6' wood fencing including discarded fence material removal and disposal. Replacement fence to be 1x6 dog eared cedar with galvanized pipe supports. Cost estimate provided by Max McCammon of Fallng Star LLC.
Linear footage is approximate based on measurements by BRG.
Costing provided by Falling Star LLC
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Component Listing First Draft Included Components Prepared for the 2011 Fiscal Year
Jsooo- Fencing
342- Wood: 6'
930 Lin. Ft. East Perimeter Fencing
Summary
Useful Life 20 Remaining Life 6 Quantity 930 Unit of Measure Linear Feet
Cost /I. f. $20.00
% Included 100.00%
Replacement Year 2016
Total Cost/Study $18,600
Future Cost $21,570
This is to replace the 1x3 wood fencing including discarded fence material removal and disposal. Replacement fence to be 1x6 dog eared cedar with galvanized pipe supports. Cost estimate and useful life provided by Max McCammon of Fallng Star LLC.
Linear footage is approximate based on measurements by BRG.
Costing provided by Falling Star LLC
20000 - Lighting
200 - Street Lights
15 Street Lights (13.3%)
Summary
Useful Life 1 Remaining Life 23 Quantity 15 Unit of Measure Items
Cost /ltm $1,650
% Included 13.33%
Replacement Year 2033
Qty * $/Itm $24,750
Total Cost/Study $3,299
Future Cost $5,822
This is to replace a percentage of the association street lights. Since the core light standard and fixture useful life exceeds the scope of this study, this component is for partial replacement only.
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Component Listing First Draft Included Components Prepared for the 2011 Fiscal Year
21ooo - Signage 792 - Monument
2 Rock Monument Signs
Summary
Useful Life 7 Remaining Life 2 Quantity 2 Unit of Measure Items
Cost /Itm $600
% Included 100.00%
Replacement Year 2012
Total Cost/Study $1,200
Future Cost $1,261
This is to have the monument sign lettering removed, prepped and painted then re-installed. Cost estimate and useful life provided by Craig Lunsford of Young Electric Sign Company.
Costing provided by Young Electric Sign Company
26000 - Outdoor Equipment
100- Tot Lot
Childrens Playground
Summary
Useful Life 20 Remaining Life 15 Treatment [nr: 1] Quantity 1 Unit of Measure Items
Cost /Itm $6,000
% Included 100.00%
Replacement Year 2025
Total Cost/Study $6,000
Future Cost $8,690
This is to replace the playground equipment. Since there are multiple choices of construction material and designs. This item can be further defined with association input.
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Component Listing First Draft
Included Components Prepared for the 2011 Fiscal Year
26000 - Outdoor Equipment
840 - Shade Structure
Picnic Area Shade Structure (15%)
Summary
Useful Life 5 Remaining Life 15 Quantity 1
Cost /LS $10,000
% Included 15.00%
Replacement Year 2025
Unit of Measure Lump Sum
Qty * $/LS $10,000
Total Cost/Study $1,500
Future Cost $2,172
This is for periodic repairs/replacement of wood portions of the shade structure. Since the wood components will not fail simultaneously, this component provides for fifteen percent replacement every three years beginning in fifteen years, 2025.
30000- Miscellaneous 170 - Storm Drains
Storm Drains
Summary
Useful Life 30 Remaining Life 25 Quantity 1 Unit of Measure Lump Sum
Cost /LS $1,500
% Included 100.00%
Replacement Year 2035
Total Cost/Study $1,500
Future Cost $2,781
This is to have funds to repair/maintain the storm drains as needed.
31000- Reserve Study
100 - 3 Year Update with Site Visit
Reserve Study
Summary
Useful Life 3 Remaining Life 3 Quantity 1
Cost /LS $850
% Included 100.00%
Replacement Year 2013
Unit of Measure Lump Sum
Total Cost/Study $850
Future Cost $915
This is for the 3 year full study which includes a visual observation of the accessible reserve components.
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Component Listing First Draft Included Components Prepared for the 2011 Fiscal Year
320tJo - undesi"iJirated
100 - Miscellaneous
Common Area
Useful Life 2 Remaining Life 1 Quantity 1 Unit of Measure Lump Sum
Summary
Cost /LS $500
% Included 100.00%
Replacement Year 2011 Total Cost/Study $500
Future Cost $512
This is to have funds available for costs of repairs, replacement or maintenance of smaller reserve components such as:
Paint 8 fire hydrants @ $30 ea; Paint 10 mailbox clusters@ $35 ea; Replace landscape light fixtures @ monument signs; Replace barbecue; Replace miscellaneous signs; Minor playground equipment repairs; Re-stripe basketball court; Maintain/replace small wood structure for irrigation controller; Replace basketball nets; Paint utility boxes;
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• • • Trailside Place Homeowners Association
BROWNING RESERVE GROUP
Component Tabular Listing Included Components
Current Useful Remaining Unit of Component Replacement Cost Life Life Quantity Measure
OlOOO - Paving 100 - Asphalt: Sealing $12,278 4 0 131,600 Square Feet
200 - Asphalt: Repairs: On-going $1,500 4 4 1 Lump Sum
02000 - Concrete 900 - Miscellaneous $1,000 5 0 1 Lump Sum
03000 - Painting: Exterior 150- Stain $800 5 0 1 Lump Sum
151- Stain $600 5 0 1 Lump sum
400 - Wrought Iron $5,600 7 1 1,155 Linear Feet
450 - Wood Fencing $1,000 3 3 1 Lump Sum
451 - Wood Fencing $1,000 3 6 1 Lump Sum
452 - Wood Fencing $1,000 3 9 1 Lump Sum
500 - Light Poles $600 7 2 15 Items
04000 - Structural Repairs 970 - Mailboxes $6,750 25 20 5 Items
971 - Mailboxes $6,750 25 22 5 Items
l7500- Basketball I Sport Court 900 - Miscellaneous $1,500 20 15 2 Lump Sum
lBOOO- Landscaping 100 - Irrigation: Misc. $1,500 3 3 1 Lump Sum
400 - Turf Renovation $5,000 15 10 1 Lump Sum
420 - General Repairs/Upgrades $3,000 5 5 1 Lump Sum
490 - Bark Replacement $3,000 3 1 1 Lump Sum
500 - Tree Maintenance $2,000 5 5 1 Lump sum,
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Section VII First Draft
Prepared for the 2011 Fiscal Year
Location
Streets
Streets
Common Area
Picnic Area Shade Structure
Childrens Playground
Perimeter Fence
Amity Road Fence
East Perimeter Fencing
West Perimeter Fencing
Street Lights
Cluster Mailboxes - One Half
Cluster Mailboxes - One Half
Basketball Court
Landscaping
Landscaping
Landscaping
Landscaping
Landscaping
31
Component Tabular Listing Included Components
Component
19000 - Fencing
340 - Wood: 6'
341 - Wood: 6'
342 - Wood: 6'
20000 - Lighting 200- Street Lights
21000 - Signage
792 - Monument
26000 - Outdoor Equipment 100- Tot Lot
840 - Shade Structure
30000 - Miscellaneous 170- Storm Drains
31000 - Reserve Study 100 - 3 Year Update with Site Visit
32000 - Undesignated 100 - Miscellaneous
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Current Replacement Cost
$13,366
$17,100
$18,600
$3,299
$1,200
$6,000
$1,500
$1,500
$850
$500
Useful Remaining Unit of Ufe Ufe Quantity Measure
20 0 820 Linear Feet
20 3 855 Linear Feet
20 6 930 Linear Feet
1 23 15 Items
7 2 2 Items
20 15 1 Items
5 15 1 Lump Sum
30 25 1 Lump Sum
3 3 1 Lump Sum
2 1 1 Lump Sum
Trailside Place Homeowners Association
First Draft
Prepared for the 2011 Ascal Year
Location
Amity Road Fence
West Perimeter Fencing
East Perimeter Fencing
Street Lights
Rock Monument Signs
Childrens Playground
Picnic Area Shade Structure
Storm Drains
Reserve Study
Common Area
32
. . ~,:,:~ ' ,o • r~~~: Trailside Place Homeowners Association
,, '·,
BROWNING RESERVE GROUP Expenditures by Year For1 Year
Life
Section VII-a First Draft
Prepared for the 2011 Fiscal Year
Cutrent Forecast
Reserve Component Useful Replacement Cost Inflated Cost@ 2.50%
2010
01000 - Paving
100 -Asphalt: Sealing {131,600 Sq. Ft. Streets} 4
o2ooo - Concrete
900 - Miscellaneous {Common Area}
03000 - Painting: Exterior
150 -stain {Picnic Ar-ea Shade Structure}
151- Stain {Childrens Playground}[nr:3J
19000 - Fencing
340 -Wood: 6' {820 Lin. Ft. Amity Road Fence}
5
5
5
Total 03000- Painting: Exterior:
20
Total 2010:
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12,278
1,000
800
600
1,400 1,400
13,366
28,044
33
"L . •:,:;, . ~~~(' Trailside Place Homeowners Association
,,, BROWNING RESERVE GROUP
Directory of Reserve Study Contractors
Asphalt Systems co., LLC Steve Cash BOISE, IO 83719
01000 - Paving
100 ... Asphalt: Sealing
200- Asphalt: Repairs: On-going
Big Sky outdoor Company Travis Krahn P. 0. Box 1034 Meridian, IO 83680
1sooo- l.itndscapinii
100- Irrigation: Misc.
400 - Turf Renovation
420 - General Repairs/Upgrades
490 - Bark Replacement
soo - Tree Malrltenance
Eccles Paintiilg Art Eccles 450 W. Grove Street Boise, to 83702
030oo - Painting: Exterior
150- Stain
Phone: (208) 362-6525
Streets
Streets
Phone:(208) 284-5431
Landscaping
Landscaping
Landscaping
Landscaping
Landscaping
Phone:(208} 338-7763
Childrens Playground
License#:
License#:
License#:
150 .. Stain Picnic Area Shade Structure
400 - Wrought Iron
500 • Light Pole$
Falling Stat LLC
Max Mc:cammon 3512 s. Montana Caldwell, ID 83605
03000 - Painting: Exterior
450 • wood Fencing
450 - wood Fencing
450 - wood Fencing
16:22 05/211/2010 12f$4.0.22.
Perimeter Fence
Street Lights
Phone: (208) 841~2474
Amity Road Fence
East Perimeter Fencing
West Perimeter Fencing
VersiOI\ 5{1.6{1.010 5;2$:40 PM © Browning Reserve Group 20l0
License#:
Section IX First Draft
Prepared for the 2011 Fiscal Year
34
Directory of Reserve Study Contractors
19000- Fencing
340- Wood: 6'
340 .. wood: 6'
340- wood: 6'
Mallboxichange
UNKNOWN,CA XXXXX
o4ooo - sti'iii:turat Repairs
970 - Mailboxes
970 - Mailboxes
Young Eleetfic Sign Company Craig Lunsford 416 E. 41st Street Boise, lO 83714
21000- Si{Jitage
792- Monument
Amity R,oad Fence
'East Perimet~r Fencing
West Perimeter Fencing
Phone:(800) 448-2870 License 1/::
Cluster MailbOxes • One Half
Cluster Mailboxes - One Half
Phone: (208) 345-2982 License#:
~ock Monument Signs
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First Draft
Prepared for the 2011 Fiscal Year
35
Trailside Place Homeowners Association
BROWNING RESERVE GROUP Section X
Notes to the Auditor First Draft
Prepared for the 2011 Fiscal Year
This report is intended to assist the auditor while preparing the audit, review or cornpllatlon of Trailside Place Homeowners Association's (the "Association") financial documents.
Browning Reserve Group ("BRG") prepared a reserve study for the Association during the 2010 fiscal year. This was done to help determine the Association's reserve contribution for the next fiscal year (2011) and future fiscal years. In addition, BRG prepared the proper statutory disclosures for diStribution to the Association members.
This Reserve Study is a Full Study. This study is a Full Study which inCludes an on~site review upon where the following tasks are performed:
• development of a reserve component inventory; • condition assessment based upon on-site visual observation; • life and valuation estimates; • fund status; • and a funding plan. Please note, in order to complete these study tasks, one or more
visits were conducted by BRG to Trailside Place Homeowners Association.
For BRG reserve studies, the year tn which the study is being conducted, Is the first year of the study. For example, this study is being prepared during 2010 and is the Association's first year in the study. This enables BRG to use a starting polnt which ties to the fast audited financial statement, December 31, 2009. You will notice in Section Ill, Reserve fund. Bidii.Dce fprt£.ut, a Beginning Reserve Balance of $0 is being used which ties to the last completed audit or review of the Association's financial statements. BRG then re-builds the first year of the study, in this case 20101 and estimates an ending reserve fund balance. Again, see Section III and the 2010 ending reserve balance estimate of $8,256.
"Re.,.building" the first year of the study as mentioned above simply means using the 2010 adopted budget for the 2010 reserve contribution. Finally, the 2010 reserve expenses both actual and projected are estimated.
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Notes to the Auditor First Draft
Prepared for the 2011 Fiscal Year
We find by using the above method a more accurate reserve study is possibte because the beginning reserve fund balance ties directly to the Association's audited financial statement or, in the absence of an audit or review, the year end balance sheet. There Is no need to rely on others for determining mid year reserve balances or estimating current year ending reserve balances. This approach forces all involved, to look at the current year's reserve fund activities so a more accurate ending reserve fund balance can be estimated.
With respect to the reserve component Information on the next page/s, here are the calculations:
FFB = Current Cost X Effective Age 1 Useful Life
% Funded = FFB 1 Fkst Year Estimated Ending Reserve Balance
Please see section V: .. R§sfUXt: fi.I.J1rl Balance Fom£ast·
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Trailside Place Homeowners Association ©Browning ReseTVe Group 2010 37
. . ,:,:: " ' . ;,
~~'(
>,
llROWNING RESERVE GROUP
Trailside Place Homeowners Association Schedule of Supplementary Information for Auditor
Component Method First Draft
Prepared for the 2011. Fiscai Year
20.11 Line Item 20,10 Fully 2011 Fully Contribution
Current Useful Remaining Funded Funded based on
Reserve Component Rep/. Cost Ufe Life Balance Balance cash Flow Method
01000 - Paving 100- Asphalt: Sealing {131,600 Sq. l't. Streets} 12,278 4 0 12,278 3,146 4,535 200 , Asphalt: Repairs: 01'1-golng {Streets} 1,500 4 4 300 384 4$9
02000 - Concrete 900 - MisCellaneous {Common Area} 1,000 5 0 1,000 205 2i:J5
03000- Painting: Exterior 150 • Stain {Picnic Arei!l Shade Structure} 800 s 0 800 164 236 151 - Stain {Chlldrens Playground}[nr:3] 600 5 0 600 123 177 400 • Wrought Iron {1,155 Un. A:. Perimeter fence} 5,600 7 l 4,800 5,740 1,211 450 - Wood Fencing {Amity Road Fence} 1,000 3 3 250 342 398 451· Wood Fencing {East Perimeter fencing} 1,000 3 6 143 171 245 452 - Wood Fencing {West Perimeter Fencing} 1,000 3 9 100 114 184 soo • Ught Poles {15 Strt~et lights} 600 7 2 429 527 133
04060 • Structural Repairs 970 • Mailboxes {5 Clust.w Mailboxes • One Half} 6,'750 25 20 1,350 1,661 654 971 • Mailboxes {5 Cluster Mailboxes • One Half} 6,750 25 22 810 1,107 687
17500 • Basketball/ Sport Court 900 - Miscellaneous {2 Basketball Court} 1,500 20 15 375 461 160
18000 - Landscaping 100 • liTigation: Misc. {landscaping} 1,500 3 3 375 513 597 400 - Turt RenovatiOn {landscaping} 5,000 15 10 1,667 2,050 630 420 • General Repairs/Upgrades {landscaping} 3,000 5 5 500 615 836 490 • 13ark Replaooment: {landscaping} 31000 3 1 ~,000 3,075 1,514 500 - Tree Maintenance {Landscaping} 2,000 5 5 333 410 557
19000 - Fencing 340 ·Wood: 6' {820 Un. Ft, Amity Road Fence} 13,366 20 0 13,366 685 987 341· Wood: 6' {855 Lin. Ft. west Perimeter Fencing} 17,100 20 3 14,535 15,775 1,360 342 ·Wood: 6' {930 Un. Ft. East Perimeter Fencing} 18,600 20 6 13,020 14,299 1,593
20000- Lighting 200 • Street lights {15 Street lights (13.3%}} 3,299 1 23 137 147 358
1622 05/26/2010 December 31 38 Version 5/26/2010 5:25:40 PM ©Browning Reserve Group 2010
Trailside Place Homeowners Association Schedule of Supplementary Information for Auditor
Component Method First Draft
Prepared for the 20{1 Fiscal Year
Current ReseNe Component Repi. Cosi:
21000 - Signage 79~ - Monument {2 Rock Monument Signs} 1,200
26000 - Outdoor Equipment ioo- Tot Lot {Childrens Playground}[nr:l] 6,000 849 • Shade Structure {Picnic Area Shade Str\lc:ture 1,SOO (15%)}
30000 - Miscellaneous 170 ·Storm Drains {storm Drains} l,Soo
31000 - Reserve Study 100 - S Year Update with Site Visit {Re$et'le Study} 850
3:2()o() - Unilesignated 100 ·Miscellaneous {Commt:ill Area} soo
Totals 118,793
Percent Funded
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Useful Remaining Life Life
7 2
20 15
5 15
30 25
3 3
2
2011 Line Item 2010 Fully 2011 FUlly Contribution
Funded Funded based on Baiance Balance cash rtOw MethOd
857 1,054 266
1,500 1,845 642
94 103 .201
250 308 137
213 290 338
250 513 379
[A] [B]
72,332 55,825 19,800 [EndBal] [EndBai]
[A] [B)
11.41% 33.55%
39
,, . . ';,;,~ • ~f~: Trailside Place Homeowners Association
'' ',
BROWNING RESERVE GROUP Section XI
Glossary of Reserve Study Terms
First Draft
Prepared for the 2011 Fiscal Year
Terms 8t Definitions 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 untU the desired Funding Goat is achieved.
COMPONENT INVENTORY: The task of selecting and quantifying Reserve Components. This task can be accomplished through on~stte visual observations, review of association design and organizational documents, a review of established association precedents, and discussion with appropriate association representative(s) of the association or cooperative.
COMPONENT METHOD: A method of developing a Reserve Funding Plan where the total contribution is based on the sum of contributions for individual cornponents. See "Cash Flow Method.
COMPONENT: The indiVidual Une items lri 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) predictable Remaining Useful Life expectancies, 4) above a minlinum threshold cost, and S) as required by local codes.
CONDITION ASSESSMENT: The task of evaluating the current condition of the component based on observed or reported characteristics.
CURRENT R.E:PLACEMENT COST: See "Replacement Cost."
DEFICIT; An actual (or projected) Reserve Balance Jess than the futly Funded Balance. The opposite would be a Surplus.
EFFECTIVE AGE: The difference between Useful life and Remaining Useful life. Not always equivalent to chronological age, since some components age irregularly. Used primarily Jn computations.
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Trailside Place Homeowners Association ©Browning Reserve Group 2010 40
Glossary of Reserve Study Terms
First Draft
Prepared for i:he 2011 Fiscal Year
FINANCIAL ANALYSIS: The portion of a 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 a Reserve Study.
FULLY FUNDED BALANCE (FFB): Total Accrued Depreciation. 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 calcufated for each component, then summed together for an association total. Two formulae can be utilized, depending on the provider's sensitivity to interest and inflation effects. Note: Both yield identical results when interest and Inflation are equivalent.
FFB = Curr$1lt Cost X Effective Age I Useful Life or
FFB =(Current Cost X Effective Age I usefull.ife) + [(Current Cost X Effective Age 1 useful Life) 1 (1 +Interest Rate) A Remaining Life]~ {(Current Cost X Effective Age 1 useful Ufe) 1 (1 + Jnflatlon Rate) A Remaining life}
FULLY FUNDED: 100% Funded. When the actual (or projected) Reserve balance is equal to the fully Funded Balance.
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 Fyhding: Establishing a Reserve funding goal of keeping the Reserve cash balance above zero.
Full Funding: Setting a Reserve funding goal of attaining and maintaining Reserves at or near 100% funded.
Statutory Funding: Establishing a Reserve funding goal of setting aside the specifiC minimum amount of Resenres required by local statues.
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 ''Fully Funding."
FUNDING PLAN: An association's plan to provide income to a Reserve fund to offset anticipated expenditures from that fund.
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Trailside Place Homeowners Association ©Browning Reserve Group 2010 41
Glossary of Reserve Study Terms
First Draft
Prepared for the 2011 Fiscai Year
FUNDING PRINCIPLES: • Sufficient Funds When Required • Stable Contribution Rate over the Years • Evenly OlstrJbuted 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 Fully Funded Balance, expressed as a percentage.
PHYSICAL ANALYSIS: The portion of the ReserVe Study where the Component Inventory, Condition Assessment, and Ufe and Valuation estimate task$ 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 antic:Jpated to occur In the initial year have "zero" 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, repalr, or restore the component during that particular year.
RESERVE BALANCE: Actual or projected funds as of a particular point in time that the association has identified for use to defray the future repair or replacement of those major components which the association is obligated to maintain. Also known as Reserves, Reserve Accounts and Cash Reserves. Based upon information provided and not audited.
RESERVE PROVIDER: An individUal that prepares Reserve Studies.
RESERVE STUDY: A budget planning toot which 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. "Our budget and finance committee is soliciting proposals to update our Reserve Study for next year's budget.
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Trailside Place Homeowners Association ©Browning Reserve Group 2010 42
Glossary of Reserve Stqdy Terms
First Draft
Prepared for the 2011 Fiscal Year
RESPONSIBLE CHARGE: A reserve specialist in responsible charge of a reserve study shall render regular and effective superviSion to those individuals performing services which directly and materially affect the quality and competence rendered by the reserVe specialist. A reserve specialist shall maintain such records as are reasonably necessary to establish that the reserve specialist exercised regular and effective supervision of a reserve study of which he was in responsible charge. A reserve specialist engaged in any of the following acts or practices shall be deemed not to have rendered the regular and effective superVision required heretn:
1. The regular and continuous absence from principal office premises from which professional serVices are rendered; expect for performance of field work or presence In a field office maintained exclusively for a specific project;
2. The failure to personally Inspect or review the work of subordinates where necessary and appropriate;
3, The rendering of a limited, cursory or perfunctory review of plans or projects in lieu of an appropriate detailed review;
4. The failure to personally be avalfable on a reasonable basts or with adequate advance notice for consultation and inspection where circumstances require personal availability.
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 greater than the FulJy funded Balance. See "Deficit."
USEFUL. LIFE (Ul): Total Useful Ufe or Depreciable Life. The estimated time, in years, that a reserve component can be expected to serve its intended function if properly constructed in its present application or Installation.
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Trailside Place Homeowners Association ©Browning Reserve Group 2010 43
Trailside Place Homeowners Association
BROWNING RESERVE GROUP
May 26, 2010 First Draft
Idaho Homeowner Summary
This is a summary of the Reserve Study that has been perfonned for Trailside Place Homeowners Association, (the "Association"). ThJs study was done ln compliance with applicable professional standards and Is being provided to you, as a member of the Associatlon1 as prescribed under these standards. A complete Reserve Study copy is available (through the Association) for review by members of the Association.
The intention of the Reserve Study Is to forecast the Association's ability to repair or replace major components as they wear out in future yearS. This is done utilizing the "Cash Flow Method." This Is a method of developing a reserve funding plan where the contributions to the reserve fund are designed to offset the variable annual expenditures from the reserve fund.
Browning Reserve Group prepared this Full Study for the January 1, 2011 - December 31, 2011 fiscal year.
Trallslde Place Homeowners Association is a Planned Development with a total of 110 LotLots.
At the time this summary was prepared, the assumed long-tenn before-tax interest rate earned on reserve funds was Zero% per year, and the assumed tong-term inflation rate to be applied to major component repair and replacement costs was 2.5% per year.
The Reserve Study is not an engineering rep4)rt. The costs outlined In the study are for budgetary and planning purposes only. Actual bid costs would depend upon the defined scope of work at the tirne repairs are made. Also, any latent defects are excluded from this report. lt should be noted that no destructive testing was performed.
Funding Assessment
Based on the 30 year cash flow projection, the Association's reserves appear adequately funded as the reserve fund ending balances remain pOsitive throughout the replacement of all major components during the next 30 years.
Idaho statute Imposes JlQ re$erve funding level requirements nor does It address funding level adequacy, and although one or more of the reserve fund percentages expressed in this report may be tess than one hundred percent, those percentages do not nece$sarily Indicate that the Association's reserves are inadequately funded.
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Idaho Homeowner Summary Prepared for the 201.1 Fiscal Year Ti"i1ilside Place Homeowners Association 2011
2010 2011 Line Item Current Fully Fully Contribution
Replacement Useful Remaining Funded Funded based on Reserve Component Cost Life Life Balance Balance Cash Flow Method
otooo- Paving 13,778 4-4 0-4 12,578 3,531 5,034
o2ooo - concrete 1,000 5-5 o-o 1,000 205 295
o3ooo- Painting: Exterior 10,600 3·7 0·9 7,1U 7,181 ~585
0400o - sfruct:iiral Repairs 13,500 25·25 20-22 2,160 2,768 1,340
1.7soo- Basketball 1 Sport 1,500 20 .. 20 15-15 375 461 160 Court liiOOO- Lani:J:ScapifliJ 14,500 3·15 1·10 4,875 6t$&3 4,134
1.9000- Feilctng 49,066 20-20 0-6- 40,921 30,759 3,941
20000 - Lighting 3,2H 1-1 23-23 137 147 358
2lOOO- Sigl1age 1,200 7-7 2·2 857 1,054 266
26ooo - Outdoor Equifiment 7,500 s-ao 15-15 1,594 1,948 842 30000 - Miscellaneous 1,500 30-30 25-25 250 308 137 3lOOO- Reserve Study 850 3-3 3 .. 3 213 290 338
32000 - Undesignated 500 2-2 1-1 250 513 379
Totals $118,793 $:12,332 $55,825 $19,800
Estimated Eriding Balance $8,256 $18,728 $15.00
Percent Funded 11.4% 33.5% /lot/month @ 110
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• • • Trailside Place Homeowners Association
BROWNING RESERVE GROUP
*See Important footnotes at end of this Section III.
Beginning Balance
Inflated Expenditures @ 2.5%
Reserve Contribution
Lots/month@ 110
Percentage Increase
Special Assessments I Other
Interest Pre Tax @ 0.00%
Ending Balance
Beginning Balance
Inflated Expenditures @ 2.5%
Reserve Contribution
Lots/month@ 11.0
Percentage Increase
Beginning Balance
Inflated Expenditures @ 2.5%
Reserve Contribution
Lots/month@ 110
Percentage Increase
Special Assessments I Other
Interest Pre Tax @ 0.00%
Ending Balance
30 Year Reserve Funding Plan Cash Flow Method
2010 2011 2012 2013
0 8,256 18,728 36,637
28,044 9,328 1,891 22,561
19,8001 19,800 19,800 19,800
15.00 15.00 15.00 15.00
0.0% 0.0% 0.0%
16,5002 0 0 0
0 0 0 0
8,2!;6 .... --- _18,728 36,637 33,876
2020 2021 2022 2023
61,278 61,365 80,509 74,584
19,713 656 25,725 4,825
19,800 19,800 19,800 19,800
15.00 15.00 15.00 15.00
0.0% 0.0% 0.0% 0.0%
0 0 0 0
0 0 0 0
2030 2031 2032 2033
128,413 80,909 93,368 89,896
69,140 9,826 26,426 40,055
21,636 22,285 22,954 23,643
16.39 16.88 17.39 17.91
3.{)D,m 3.0% 3.0% 3.0%
0 0 0 0
0 0 0 0
2014
33,876
18,520
19,800
15.00
0.0%
0
0
_.,. 35,156
2024
89,559
0
19,800
15.00
0.0%
0
0
2034
73,484
40,565
24,352
18.45
3.0%
0
0
80,909 93,368 89,~9.6_ _']3,48.4 ___ --~__5_7,270
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2015 2016
35,156 46,018
8,938 26,615
19,800 19,800
15.00 15.00
0.0% 0,0%
0 0
0 0
46,018 - 39,203
2025 2026
109,359 89,693
39,466 27,580
19,800 19,800
15.00 15.00
0.0% 0.0%
0 0
0 0
2035 2036
57,270 42,310
40,044 41,615
25,083 25,835
19.00 19.57
3.0% 3.0%
0 0
0 0
. 42,310 _2§,530
Section III ArstDraft
Prepared for the 2011 Fiscal Year
2017 2018 2019
39,203 54,843 51,032
4,160 23,611 9,554
19,800 19,800 19,800
15.00 15.00 15.00
0.0% 0.0% 0.0%
0 0 0
0 0 0
54,843. 51,032 61,278
2027 2028 2029
81,913 100,952 113,002
761 8,344 5,595
19,800 20,394 21,006
15.00 15.45 15.91
0.0% 3.0% 3.0%
0 0 0
0 0 0
2037 2038 2039
26,530 35,319 22,643
17,821 40,085 19,235
26,610 27,408 28,230
20.16 20.76 21..39
3.0% 3.0% 3.0%
0 0 0
0 0 0
}5,319 22,64:3 31<638
10
A5PHAL. T 5YSTEM5
PROPOSAL 3881
tSealooatlng • Utte Stllpi~ • CriCk SU!IV • Pressure WeahifW • A-PaldingPAGe 1 OF 1 • H$ndlcep Ranps • Snow Removal
TO: Browning. Reserve GroupS Attn: Tony Dann
May 12,2010
P.O. Box633 Emmett, ID 83617
ASPHALT MAINTENANCE WORK ON 131,680 SJF
CLEAN AND PREP EXtSTING ASPHALT Asphalt to be swept prior to applying sealer
SEALCOAnNG
JOB rtWEI.CCATION TrailSide Place
Fax: 2c:J8.385.3158
Apply "AS Premiere One" seatcoat to entire asphalt area (one coat)
STRIPING PACKAGE Restripe parking area as per ortglnallayout
-rhis bid Includes repainting speed bumps and sealing walking patch and small area betWeen houses.
NOTE$ '"Any changes to the work above may affeot Ute proposal amount "Contractor is nat liable for delayS due to weather conditions.
We PNpose lle!vby 1o 6Jmleh "'*"-'end Iabar -~In ~ce 1111111 tie aboveapedloalims, for lhe SIJII of:
Twelve Thausand Two Hundred~ Four and 001100 Dollars
Payment to be made as falklws:
Due upon completion
Nelle: Thls proposal may be withdrawn by ualfnot acoepted wlflln
260.00
11,844.00
180.00
12,27<4.00 t
15 da,s.
~filmS anti COIIdiiDts Blllllltfl on file
backfHIIJf1. PleM,.,. -to stgnlng fills ptfJfJGBSI.
ACCeptanCe of Prapoul - The allova III(CeS, spedlica1ions and condlllons ara satlsfactiHy ll1d are hereby accepted. You n adhorized to do ll!e work aa ~ Pa,ment wil be made. outllnedabcM.
~ .. _____________________________ _
~~~: ----------- ~Mm~-------------------------------
..,.
ECCLES PAINTING INC. 199 N. capitol Blvd. #806 Boi!!e, Idaho 83702 Office: 208-338-7763 Mobile: 208-830-0804 Fax: 208-338-7763 Emalt. 8C91espainll~qwestofflce.net Uce~#RCE-14633
PROPOSAL Contract: Date: 5/1412010
Proposal Submitted To: Work To Be Performed At: Narne:Tonv Trailside Street: Street: CitY: CitY: Telephone Number: {208) 365-0977 Telephone Number: We hereby propose to furnish materials and labor necessary for the completion of:
Exteriot: 1. Detailed staining of park shade structure - $800.00. 2. Detailed staining of all wood on playground equipment- $600.00. 3. Detailed painting of all wrought iron fence (yard border fences not included but entire back canal
fence is included and entire park fence included) - $5,600.00. 4. Detailed painting of a tire hydrant- $30.00per. 5. Detailed painting of a mail box structure - $35.00per. 6. DetaRed painting of a street light pole- $40.00per. 7. Preparation wtll include pressure washing, masking, covering, scraping, sanding, spot priming,
filling and caulking where needed. 8. Community should stain and paint these structures every five to seven years. 9. Produot will be Kelly Moore or Sherwin Williams premium primers, paints and stain. 10. Warranty wDI be one {1) year against defects in coverage and workmanship. 11. Bid includes coupon discount.
Material and work as specified above shall be provided for the sum of: Price:
Payment must be as follows: S=a;;;;:les=::--'-T.=:ax=:-----;-------Total: Down Payment: Balance:
All changes to this contract must be in writing and signed by both customer and Eccles Palntl~. Inc. Extra changes will be on a time and material basis with a labor rate of $ /hr. Any estimate of start and completion dates is contingent upon completion of previously scheduled projects in the order of acceptance.
Respectfully submitted: __ LJ.f ___ ~------Note. This proposal may be withdrawn if not accepted within days.
In the unlikely event that either party brings a lawsuit or arbitration for breach of this contract, the substantially prevailing party shall receive reasonable attorney fees and costs.
ACCEPTANCE OF PROPOSAL The above prices, specifications and conditions are satisfactory and hereby accepted. You are authorized to do the work as specified. Payment will be made as outlined above. ~of Acceptance: -~S~ig~n~ab.l~re~d:..:Cu=st:!:::o::.:m.::::e~r ::...__ __________ _
Signature of Contractor:
Recommended