Full Reserve Study For
Rivers Edge Community Development District

Prepared for FY 2017 Report Date: March 24, 2016

Southeast Region
10459 Hunters Creek Court Jacksonville, FL 32256
(904) 303-3275
Mid-Atlantic Region
3 Langhorne Road Newport News, VA 23606 (757) 291-6657
Communityadvisors.com

March 24, 2016

Mr. Jim Perry District Manager
Governmental Management Services, LLC 475 West Town Place, Suite 111
St. Augustine, FL 32092

Re: Reserve Study Report for Rivers Edge Community Development District Dear Mr. Perry:
Community Advisors is pleased to provide this Reserve Study report for the above referenced District. A site visit was conducted to determine the condition of your major components and project their remaining useful life.

We have developed a plan to fund future capital component replacement which is dependent on adequate funding, component maintenance, usage, weather and other factors. Component replacement cost is determined using local vendors and industry standard publications. This Reserve Study was prepared under the guidelines of the National Reserve Study Standards which is administrated by the Community Association Institute and the Standards of Practice established by the Association of Professional Reserve Analyst.

Once you have reviewed this report and considered recent expenditures and any historic cost data we will make necessary adjustments. Thank you for this opportunity and please let me know if you have any questions or concerns.

Respectively submitted,

Charles R. Sheppard RS PRA CCI
President & Reserve Analyst

Southeast Region
Charles Sheppard, RS PRA CCI 10459 Hunters Creek Court Jacksonville, FL 32256
(904) 303-3275
Mid-Atlantic Region Al Custer, Senior Advisor 3 Langhorne Road Newport News, VA 23606
www.communityadvisors.com

TABLE OF CONTENTS
Rivers Edge Community Development District

PART I RESERVE STUDY SUMMARY INFORMATION
Cash Flow Method Summary	1-1
Cash Flow Method Funding Plan	1-2
Component Inventory w/Quantities	1-3
PART II FINANCIAL INFORMATION
Annual Expenditure Detail	2-1
Cash Flow	2-8
PART III COMPONENT INFORMATION
Category Detail Index	3-1
Detail Report by Category	3-5
PART IV CHART & GRAPHS
Annual Asset Expenditure Charts	4-1
Asset Current Cost by Category	4-2
Current Funding Model & Fully Funded Comparison Chart	4-3
PART V METHODOLOGY & RESERVE STUDY PROCESS
Methods & Procedures	5-1
PART VI TERMS CONDITIONS COMPANY INFORMATION
General Information and Company Profile	6-1
Definitions	6-3

Current Assessment Funding Model Summary of Calculations

St. Johns , Florida
Cash Flow Method Summary

Report Date

March 24, 2016

Budget Year Beginning Budget Year Ending

October 01, 2016
September 30, 2017

Report Parameters

Inflation
Annual Assessment Increase Interest Rate on Reserve Deposit

3.00%
3.00%
0.50%

2016 Beginning Balance

Rivers Edge Community Development District is located in St. Johns County, Florida and has streets, parks, playgrounds, swimming pools, fitness center and clubhouse and a tennis facility as their major components. All components that were evaluated appear in good condition unless noted in this report. The Component Inventory contains a category titled, Operation Budged Funded which contains components we assume are funded by Operations and not Reserves.

The District has not established reserve funds for capital replacement and requires contributions as noted in the Funding Plan found in this report. We have provided a Cash Flow funding plan that maintains reserves at an adequate level assuming normal wear and weather conditions.

This method of determining contributions is based on the remaining useful life and replacement cost of major components and does take into account inflation, contribution increases and interest on invested funds. Reserves that maintain a 30% to 70% full funding level are considered to be adequately funded. We also recommend a regular review of your funding plan and a site visit to update your study.

Required Annual Contribution	$100,000.00	
Average Net Annual Interest Earned		$500.00	
Total Annual Allocation to Reserves	$100,500.00	

Cash Flow Method Funding Plan

Beginning Balance: $0
Projected
Current		Annual	 Annual		Annual		Ending Year	Cost	Contribution	Interest	Expenditures	Reserves

2016	1,790,505	100,000	500		100,500	
2017	1,844,220	103,000	1,017		204,517	
2018	1,899,547	106,090	1,553		312,161	
2019	1,956,533	109,273	2,042	13,113	410,362	
2020	2,015,229	112,551	2,615		525,528	
2021	2,075,686	115,927	3,066	28,217	616,304	
2022	2,137,957	119,405	3,607	14,329	724,988	
2023	2,202,095	122,987	3,405	166,963	684,418	
2024	2,268,158	126,677	4,055		815,150	
2025	2,336,203	130,477	4,650	15,657	934,620	
2026	2,406,289	134,392	5,054	58,138	1,015,928	
2027	2,478,478	138,423	5,772		1,160,123	
2028	2,552,832	142,576	6,325	37,640	1,271,385	
2029	2,629,417	146,853	7,003	17,622	1,407,619	
2030	2,708,299	151,259	7,794		1,566,672	
2031	2,789,548	155,797	6,716	379,303	1,349,882	
2032	2,873,235	160,471	6,745	161,395	1,355,702	
2033	2,959,432	165,285	7,437	33,635	1,494,788	
2034	3,048,215	170,243	8,223	20,429	1,652,826	
2035	3,139,661	175,351	7,951	238,049	1,598,078	
2036	3,233,851	180,611	3,205	1,137,617	644,278	
2037	3,330,867	186,029	3,426	145,097	688,636	
2038	3,430,793	191,610	3,769	126,457	757,559	
2039	3,533,716	197,359	4,123	130,250	828,790	
2040	3,639,728	203,279	4,368	158,551	877,886	
2041	3,748,920	209,378	4,181	251,138	840,306	
2042	3,861,387	215,659	5,280		1,061,245	
2043	3,977,229	222,129	6,124	58,642	1,230,856	
2044	4,096,546	228,793	7,298		1,466,947	
2045	4,219,442	235,657	8,513		1,711,116	

Misc. Site Components
Aluminium Flag Pole	
2012	
2041	
30	
0	
25	
1 Each	
3,800.00	
3,800	
Asphalt Walking Trails - Phase I	2012	2036	25	0	20	749 Square Yards	16.00	11,997	
Asphalt Walking Trails - Phase II	2012	2037	25	1	21	749 Square Yards	16.00	11,997	
Asphalt Walking Trails - Phase III	2012	2038	25	2	22	749 Square Yards	16.00	11,997	
Asphalt Walking Trails - Phase IV	2012	2039	25	3	23	749 Square Yards	16.00	11,997	
Asphalt Walking Trails - Phase V	2012	2040	25	4	24	749 Square Yards	16.00	11,997	
Decorative Street Lights - Phase I	2012	2036	25	0	20	30 Each	1,800.00	54,000	
Decorative Street Lights - Phase II	2012	2037	25	1	21	30 Each	1,800.00	54,000	
Decorative Street Lights - Phase III	2012	2038	25	2	22	30 Each	1,800.00	54,000	
Decorative Street Lights - Phase IV	2012	2039	25	3	23	30 Each	1,800.00	54,000	
Decorative Street Lights - Phase V	2012	2040	25	4	24	30 Each	1,800.00	  54,000	
Misc. Site Components - Total								$333,784	
Street Paving
Alleyways	
2012	
2036	
25	
0	
20	
10,756 SY	
14.00	
150,584	
Baya Street	2012	2036	25	0	20	956 SY	14.00	13,384	
Flint Street	2012	2036	25	0	20	992 SY	14.00	13,888	
Kendall Crossing Drive	2012	2036	25	0	20	1,904 SY	14.00	26,656	
Manteo Street	2012	2036	25	0	20	652 SY	14.00	9,128	
Mascotte Street	2012	2036	25	0	20	787 SY	14.00	11,018	
Potter Street	2012	2036	25	0	20	652 SY	14.00	9,128	
RIverwalk Blvd.	2008	2032	25	0	16	7,184 SY	14.00	100,576	
Rambling Water Run	2012	2036	25	0	20	5,253 SY	14.00	73,542	
Rivertown Blvd.	2012	2036	25	0	20	3,100 SY	14.00	43,400	
Sternwheel Drive	2012	2036	25	0	20	6,103 SY	14.00	  85,442	
Street Paving - Total								$536,746	
Amenity Site Components
Asphalt Mill & 1 1/2" Overlay	
2012	
2031	
20	
0	
15	
5,700 SY	
14.00	
 79,800	
Amenity Site Components - Total								$79,800	
Riverclub - Roof & Exterior Walls
Exterior Painting - Porch Ceiling	
2012	
2026	
10	
5	
10	
3,900 SF	
1.10	
4,290	
Exterior Painting - Siding	2012	2026	10	5	10	4,000 SF	1.05	4,200	
Standing Seam Metal Roof	2012	2046	35	0	30	14,000 SF	9.00	 126,000	
Riverclub - Roof & Exterior Walls - Total								$134,490	
Riverclub - Floors & Walls
Floor Tile - Restrooms	
2012	
2036	
25	
0	
20	
600 Square Feet	
18.00	
 10,800	
Riverclub - Floors & Walls - Total								$10,800	
Riverclub - Cabinets & Tops
Stone Tops & Sinks - Restrooms	
2012	
2031	
20	
0	
15	
14 Linear Feet	
400.00	
5,600	
Wood Cabinets & Stone Tops	2012	2031	20	0	15	12 LF	410.00	  4,920	
Riverclub - Cabinets & Tops - Total								$10,520	

Riverclub - HVAC									
HVAC	2012	2028	15	2	12	8 TONS	1,800.00	 14,400	
Riverclub - HVAC - Total								$14,400	
Riverclub - Plumbing									
Plumbing Fixtures	2012	2031	20	0	15	11 Each	800.00	 8,800	
Riverclub - Plumbing - Total								$8,800	
Riverclub Cabana									
Exterior Painting	2012	2026	10	5	10	1,600 SF	1.05	1,680	
Metal Roof	2012	2046	35	0	30	800 SF	9.00	7,200	
Wood Cabinets & Stone Top	2012	2036	25	0	20	16 LF	175.00	  2,800	
Riverclub Cabana - Total								$11,680	
Fitness Center - Roof & Exterior Walls	
Exterior Painting - Porch Ceiling	2012	2026	10	5	10	3,200 SF	1.10	3,520	
Exterior Painting - Siding	2012	2026	10	5	10	4,200 SF	0.85	3,570	
Standing Seam Metal Roof	2012	2046	35	0	30	13,600 SF	9.00	 122,400	
Fitness Center - Roof & Exterior Walls - Total	$129,490	
Fitness Center - Floors & Walls									
Carpet Squares - Fitness Room	2012	2021	10	0	5	155 SY	28.00	4,340	
Floor & Wall Tile - Restrooms	2012	2036	25	0	20	3,546 Square Feet	14.00	 49,644	
Fitness Center - Floors & Walls - Total								$53,984	
Fitness Center - Misc. Components									
Phenolic Toilet Partitions	2012	2036	25	0	20	10 Stalls	1,600.00	16,000	
Window Shutters	2012	2041	30	0	25	12 Pair	600.00	  7,200	
Fitness Center - Misc. Components - Total								$23,200	
Fitness Center - Cabinets & Tops									
Cabinets & Tops - Social Director	2012	2036	25	0	20	12 LF	200.00	2,400	
Solid Surface Tops & Sinks - Restrooms	2012	2031	20	0	15	22 Linear Feet	200.00	 4,400	
Fitness Center - Cabinets & Tops - Total								$6,800	
Fitness Center - HVAC									
HVAC Equipment	2012	2026	15	0	10	10 Tons	1,800.00	 18,000	
Fitness Center - HVAC - Total								$18,000	
Fitness Center - Plumbing									
Plumbing Fixtures - Restrooms	2012	2031	20	0	15	17 Each	800.00	 13,600	
Fitness Center - Plumbing - Total								$13,600	

Fitness Center - Furniture Fixtures & Equipment
Fitness Equipment Allowance - 3 year cycle 2016	2019	3	3	3	1 LS	6,000.00	 6,000 Fitness Center - Furniture Fixtures & Equipment - Total						$6,000

Aluminium Fencing & Gates - Pool	2012	2041	30	0	25	845 LF	29.00	24,505	
Pool Furniture Allowance - 3 Year Cycle	2016	2019	3	3	3	1 LS	6,000.00	  6,000	
Swimming Pool - Misc. Components - Total	$30,505	
Swimming Pools
Pool Resurfacing - Family Pool	
2012	
2023	
12	
0	
7	
6,413 SF	
12.00	
76,956	
Pool Resurfacing - Lap Pool	2012	2023	12	0	7	4,900 SF	12.00	58,800	
Starting Platforms	2012	2029	18	0	13	6 EA	2,000.00	  12,000	
Swimming Pools - Total								$147,756	
Swimming Pool Slide Tower
Fiberglass Refurbishment - Pool Slide	
2012	
2021	
10	
0	
5	
1 Lump Sum	
20,000.00	
 20,000	
Swimming Pool Slide Tower - Total								$20,000	
Swimming Pool Pavilion
Pavilion Roof	
2012	
2046	
35	
0	
30	
2,100 SF	
9.00	
 18,900	
Swimming Pool Pavilion - Total								$18,900	
Tennis Center
Chain Link Fencing	
2012	
2033	
22	
0	
17	
925 LF	
22.00	
20,350	
Tennis Court Light Poles	2012	2036	25	0	20	12 EA	2,400.00	 28,800	
Tennis Center - Total								$49,150	
Playground
Neos Play Equipment	
2012	
2031	
20	
0	
15	
1 Lump Sum	
25,000.00	
25,000	
Net Stepper	2012	2031	20	0	15	1 Each	10,000.00	10,000	
Play Equipment - Large Allowance	2012	2031	20	0	15	1 Lump Sum	20,000.00	20,000	
Play Equipment - Small Allowance	2012	2031	20	0	15	1 Lump Sum	15,000.00	 15,000	
Playground - Total								$70,000	
Main Street Park
Free Play Climber Allowance	
2012	
2026	
15	
0	
10	
1 Each	
8,000.00	
8,000	
Play Equipment Allowance	2012	2031	15	5	15	1 Each	20,000.00	 20,000	
Main Street Park - Total								$28,000	
Mail Kiosk
Mail Boxes - Main Street	
2012	
2041	
30	
0	
25	
176 Boxes	
50.00	
8,800	
Mail Boxes - Narrow Leaf	2012	2041	30	0	25	66 Boxes	50.00	3,300	
Mail Boxes - Sapelo Street	2012	2041	30	0	25	154 Boxes	50.00	7,700	

Swimming Pool - Misc. Components

Mail Kiosk continued...		
Mail Boxes - Sapelo Street	2012	2041	30	0	25	154 Boxes	50.00	7,700	
Mail Boxes - Waterfront Drive	2012	2041	30	0	25	132 Boxes	50.00	  6,600	
Mail Kiosk - Total								$34,100	

Operation Budget Funded
Aluminium Fence 4Ft. - Community Gard..	Unfunded
Aluminium Pegola Over Pool Repair	Unfunded
Asphalt Seal Coat - Parking Lot	Unfunded
Brick Paver Reset Allowance	Unfunded
Carpet - Meeting Room	Unfunded
Ceiling Fans - Exterior	Unfunded
Ceiling Fans - Interior	Unfunded
Ceiling Fans - Pool Pavilion	Unfunded
Climber	Unfunded
Coach Lights	Unfunded
Drinking Fountain	Unfunded
Dumpster Enclosure Gates	Unfunded
Exterior Painting	Unfunded
Exterior Painting - Main Steet	Unfunded Exterior Painting - Maintenance Buiding	Unfunded Exterior Painting - Narrow Leaf	Unfunded
Exterior Painting - Sapelo Street	Unfunded
Exterior Painting - Waterfront Drive	Unfunded
Exterior Painting - Wood Siding	Unfunded
Fire Alarm Panel	Unfunded
Floor Refinishing - Group Fitness	Unfunded
Gas Grill	Unfunded
Geo Dome Climber	Unfunded
Irrigation Allowance - 2 Year Cycle	Unfunded
Landscape Allowance - 5 Year Cycle	Unfunded
Microwave	Unfunded
Monument Sign Refurbishment	Unfunded
Park Bench	Unfunded
Park Benches	Unfunded
Patio Furniture Allowance	Unfunded Patio Furniture Allowance - 3 Year Cycle	Unfunded Pavilion Furniture Allowance	Unfunded
Pergola Repair & Painting	Unfunded
Pool Deck Paver Reset Allowance	Unfunded
Pool Pumps & Equipment	Unfunded
Pool Slide Frame - Painting	Unfunded
Porch Furniture Allowance	Unfunded
Refrigerator	Unfunded
Security Camera Allowance	Unfunded
Shredded Rubber Play Surface Replenishm..	Unfunded

Operation Budget Funded continued...
Single Post Swing - 2 Bay	Unfunded
Single Post Swing - One Bay	Unfunded
Standing Seam Metal Roof	Unfunded
Standing Seam Roof	Unfunded Standing Seam Roof - Community Garden	Unfunded Standing Seam Roof - Main Street	Unfunded
Standing Seam Roof - Narrow Leaf	Unfunded
Standing Seam Roof - Sapelo Street	Unfunded Standing Seam Roof - Waterfront Drive	Unfunded Steel Trash Can	Unfunded
Stone Top	Unfunded
Street Signage	Unfunded
Tennis Court Replenishment	Unfunded
Wall Coverning - Restrooms	Unfunded
Water Cooler	Unfunded
Water Coolers	Unfunded
Water Heater	Unfunded
Window Treatment Replacement Allowance	Unfunded
Wood Ceiling & Trim Painting	Unfunded
Wood Floor Refinishing - Club Room	Unfunded

Total Asset Summary	$1,790,505

Description	Expenditures

No Replacement in 2016 No Replacement in 2017 No Replacement in 2018

Replacement Year 2019
Fitness Center - Furniture Fixtures & Equipment
Fitness Equipment Allowance - 3 year cycle	6,556

Swimming Pool - Misc. Components		
Pool Furniture Allowance - 3 Year Cycle	6,556	
Total for 2019	$13,113	
No Replacement in 2020		
Replacement Year 2021		
Fitness Center - Floors & Walls		
Carpet Squares - Fitness Room	5,031	
Swimming Pool Slide Tower
Fiberglass Refurbishment - Pool Slide	
23,185	
Total for 2021	$28,217	
Replacement Year 2022		
Fitness Center - Furniture Fixtures & Equipment		
Fitness Equipment Allowance - 3 year cycle	7,164	
Swimming Pool - Misc. Components		
Pool Furniture Allowance - 3 Year Cycle	7,164	
Total for 2022	
$14,329	
Replacement Year 2023		
Swimming Pools		
Pool Resurfacing - Family Pool	94,646	
Pool Resurfacing - Lap Pool	 72,317	
Swimming Pools - Total:	166,963	
Total for 2023	$166,963	
No Replacement in 2024		

Description	Expenditures

Replacement Year 2025
Fitness Center - Furniture Fixtures & Equipment
Fitness Equipment Allowance - 3 year cycle	7,829
Swimming Pool - Misc. Components
Pool Furniture Allowance - 3 Year Cycle		7,829	
Total for 2025		$15,657	
Replacement Year 2026			
Riverclub - Roof & Exterior Walls
Exterior Painting - Porch Ceiling		
5,765	
Exterior Painting - Siding		 5,644	
Riverclub - Roof & Exterior Walls	- Total:	11,410	
Riverclub Cabana
Exterior Painting	2,258
Fitness Center - Roof & Exterior Walls
Exterior Painting - Porch Ceiling	4,731
Exterior Painting - Siding	4,798
Fitness Center - Roof & Exterior Walls - Total:	9,528
Fitness Center - HVAC
HVAC Equipment	24,190
Main Street Park
Free Play Climber Allowance	10,751
Total for 2026	$58,138

No Replacement in 2027

Replacement Year 2028 Riverclub - HVAC
HVAC	20,531
Fitness Center - Furniture Fixtures & Equipment
Fitness Equipment Allowance - 3 year cycle	8,555
Swimming Pool - Misc. Components
Pool Furniture Allowance - 3 Year Cycle	8,555

Total for 2028	$37,640

Description	Expenditures	
Replacement Year 2029		
Swimming Pools		
Starting Platforms	17,622	
Total for 2029	
$17,622	
No Replacement in 2030		
Replacement Year 2031		
Amenity Site Components		
Asphalt Mill & 1 1/2" Overlay	124,326	
Riverclub - Cabinets & Tops
Stone Tops & Sinks - Restrooms	
8,725	
Wood Cabinets & Stone Tops	 7,665	
Riverclub - Cabinets & Tops - Total:	16,390	
Riverclub - Plumbing
Plumbing Fixtures	13,710
Fitness Center - Floors & Walls
Carpet Squares - Fitness Room	6,762
Fitness Center - Cabinets & Tops
Solid Surface Tops & Sinks - Restrooms	6,855
Fitness Center - Plumbing
Plumbing Fixtures - Restrooms	21,188
Fitness Center - Furniture Fixtures & Equipment
Fitness Equipment Allowance - 3 year cycle	9,348
Swimming Pool - Misc. Components
Pool Furniture Allowance - 3 Year Cycle	9,348
Swimming Pool Slide Tower
Fiberglass Refurbishment - Pool Slide	31,159
Playground
Neos Play Equipment	38,949	
Net Stepper	15,580	
Play Equipment - Large Allowance	31,159	
Play Equipment - Small Allowance	 23,370	
Playground - Total:	109,058	
Main Street Park
Play Equipment Allowance	31,159
Total for 2031	$379,303

Description		Expenditures	
Replacement Year	2032		
Street Paving
RIverwalk Blvd.		
161,395	
Total for 2032		
$161,395	
Replacement Year	2033		
Tennis Center			
Chain Link Fencing	33,635	
Total for 2033	$33,635	
Replacement Year 2034		
Fitness Center - Furniture Fixtures & Equipment
Fitness Equipment Allowance - 3 year cycle	
10,215	
Swimming Pool - Misc. Components
Pool Furniture Allowance - 3 Year Cycle	
10,215	
Total for 2034	
$20,429	
Replacement Year 2035		
Swimming Pools
Pool Resurfacing - Family Pool	
134,943	
Pool Resurfacing - Lap Pool	103,106	
Swimming Pools - Total:	238,049	
Total for 2035	$238,049	
Replacement Year 2036		
Misc. Site Components
Asphalt Walking Trails - Phase I	
21,668	
Decorative Street Lights - Phase I	 97,530	
Misc. Site Components - Total:	119,198	
Street Paving
Alleyways	
271,971	
Baya Street	24,173	
Flint Street	25,083	
Kendall Crossing Drive	48,144	

Description		Expenditures	
Replacement Year 2036 continued...			
Manteo Street		16,486	
Mascotte Street		19,900	
Potter Street		16,486	
Rambling Water Run		132,825	
Rivertown Blvd.		78,385	
Sternwheel Drive		154,318	
Street Paving - Total:		787,772	
Riverclub - Roof & Exterior Walls			
Exterior Painting - Porch Ceiling		7,748	
Exterior Painting - Siding		 7,586	
Riverclub - Roof & Exterior Walls	- Total:	15,334	
Riverclub - Floors & Walls			
Floor Tile - Restrooms		19,506	
Riverclub Cabana			
Exterior Painting	3,034	
Wood Cabinets & Stone Top	5,057	
Riverclub Cabana - Total:	8,091	
Fitness Center - Roof & Exterior Walls		
Exterior Painting - Porch Ceiling	6,358	
Exterior Painting - Siding	 6,448	
Fitness Center - Roof & Exterior Walls - Total:	12,805	
Fitness Center - Floors & Walls		
Floor & Wall Tile - Restrooms	89,663	
Fitness Center - Misc. Components		
Phenolic Toilet Partitions	28,898	
Fitness Center - Cabinets & Tops
Cabinets & Tops - Social Director	4,335
Tennis Center
Tennis Court Light Poles	52,016	
Total for 2036	$1,137,617	
Replacement Year 2037		
Misc. Site Components
Asphalt Walking Trails - Phase II	
22,318	

Description	Expenditures

Replacement Year 2037 continued...
Decorative Street Lights - Phase II	100,456
Misc. Site Components - Total:	122,773
Fitness Center - Furniture Fixtures & Equipment
Fitness Equipment Allowance - 3 year cycle	11,162
Swimming Pool - Misc. Components
Pool Furniture Allowance - 3 Year Cycle	11,162	
Total for 2037	$145,097	
Replacement Year 2038		
Misc. Site Components
Asphalt Walking Trails - Phase III	
22,987	
Decorative Street Lights - Phase III	103,470	
Total for 2038	$126,457	
Replacement Year 2039		
Misc. Site Components
Asphalt Walking Trails - Phase IV	
23,677	
Decorative Street Lights - Phase IV	106,574	
Total for 2039	$130,250	
Replacement Year 2040		
Misc. Site Components
Asphalt Walking Trails - Phase V	
24,387	
Decorative Street Lights - Phase V	109,771	
Misc. Site Components - Total:	134,158	
Fitness Center - Furniture Fixtures & Equipment
Fitness Equipment Allowance - 3 year cycle	12,197
Swimming Pool - Misc. Components
Pool Furniture Allowance - 3 Year Cycle	12,197	
Total for 2040	$158,551	
Replacement Year 2041		
Misc. Site Components
Aluminium Flag Pole	
7,956	

Description	Expenditures	
Replacement Year 2041 continued...		
Fitness Center - Floors & Walls
Carpet Squares - Fitness Room	
9,087	
Fitness Center - Misc. Components
Window Shutters	
15,075	
Fitness Center - HVAC
HVAC Equipment	
37,688	
Swimming Pool - Misc. Components
Aluminium Fencing & Gates - Pool	
51,308	
Swimming Pool Slide Tower
Fiberglass Refurbishment - Pool Slide	41,876
Main Street Park
Free Play Climber Allowance	16,750
Mail Kiosk
Mail Boxes - Main Street	18,425	
Mail Boxes - Narrow Leaf	6,909	
Mail Boxes - Sapelo Street	16,122	
Mail Boxes - Sapelo Street	16,122	
Mail Boxes - Waterfront Drive	13,819	
Mail Kiosk - Total:	71,398	
Total for 2041	$251,138	
No Replacement in 2042		
Replacement Year 2043		
Riverclub - HVAC
HVAC	
31,987	
Fitness Center - Furniture Fixtures & Equipment
Fitness Equipment Allowance - 3 year cycle	13,328
Swimming Pool - Misc. Components
Pool Furniture Allowance - 3 Year Cycle	13,328
Total for 2043	$58,642

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	
Beginning Balance		100,500	204,517	312,161	410,362	525,528	616,304	724,988	684,418	815,150	
Annual Assessment	100,000	103,000	106,090	109,273	112,551	115,927	119,405	122,987	126,677	130,477	
Interest Earned	500	1,017	1,553	2,042	2,615	3,066	3,607	3,405	4,055	4,650	
Expenditures				13,113		28,217	14,329	166,963		15,657	
Ending Balance	100,500	204,517	312,161	410,362	525,528	616,304	724,988	684,418	815,150	934,620	

Description

Aluminium Flag Pole
Asphalt Walking Trails - Phase I

Misc. Site Components
Asphalt Walking Trails - Phase II Asphalt Walking Trails - Phase III

Asphalt Walking Trails - Phase IV Asphalt Walking Trails - Phase V

Decorative Street Lights - Phase I

Decorative Street Lights - Phase III Decorative Street Lights - Phase IV

Decorative Street Lights - Phase II
Decorative Street Lights - Phase V

Misc. Site Components Total:

Alleyways Baya Street

Street Paving
Flint Street

Manteo Street Mascotte Street

Kendall Crossing Drive
Potter Street RIverwalk Blvd.

Rambling Water Run Rivertown Blvd.

Sternwheel Drive
Street Paving Total:

2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Description
Amenity Site Components
Asphalt Mill & 1 1/2" Overlay	
Amenity Site Components Total:

Exterior Painting - Porch Ceiling Exterior Painting - Siding

Riverclub - Roof & Exterior Walls
Standing Seam Metal Roof

Riverclub - Roof & Exterior Walls Total:
Riverclub - Floors & Walls
Floor Tile - Restrooms	
Riverclub - Floors & Walls Total:

Stone Tops & Sinks - Restrooms Wood Cabinets & Stone Tops

Riverclub - Cabinets & Tops
Riverclub - Cabinets & Tops Total:
Riverclub - HVAC
HVAC	
Riverclub - HVAC Total:
Riverclub - Plumbing
Plumbing Fixtures	
Riverclub - Plumbing Total:

Exterior Painting Metal Roof

Riverclub Cabana
Wood Cabinets & Stone Top

Riverclub Cabana Total:

Exterior Painting - Porch Ceiling Exterior Painting - Siding

Fitness Center - Roof & Exterior Walls

2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	
Description
Fitness Center - Roof & Exterior Walls continued...										
Standing Seam Metal Roof										
Fitness Center - Roof & Exterior Walls Total:										
Fitness Center - Floors & Walls										
Carpet Squares - Fitness Room					5,031					
Floor & Wall Tile - Restrooms										
Fitness Center - Floors & Walls Total:					5,031					
Fitness Center - Misc. Components										
Phenolic Toilet Partitions										
Window Shutters										
Fitness Center - Misc. Components Total:										
Fitness Center - Cabinets & Tops										
Cabinets & Tops - Social Director										
Solid Surface Tops & Sinks - Restrooms										
Fitness Center - Cabinets & Tops Total:										
Fitness Center - HVAC										
HVAC Equipment										
Fitness Center - HVAC Total:										
Fitness Center - Plumbing										
Plumbing Fixtures - Restrooms										
Fitness Center - Plumbing Total:										
Fitness Center - Furniture Fixtures & Equipment										
Fitness Equipment Allowance - 3 year cycle			6,556			7,164			7,829	
Fitness Center - Furniture Fixtures & Equipment Total:			6,556			7,164			7,829	
Swimming Pool - Misc. Components										
Aluminium Fencing & Gates - Pool										
Pool Furniture Allowance - 3 Year Cycle			6,556			7,164			7,829	
Swimming Pool - Misc. Components Total:			6,556			7,164			7,829	

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	
Description
Swimming Pools											
Pool Resurfacing - Family Pool								94,646			
Pool Resurfacing - Lap Pool								72,317			
Starting Platforms											
Swimming Pools Total:								166,963			
Swimming Pool Slide Tower											
Fiberglass Refurbishment - Pool Slide						23,185					
Swimming Pool Slide Tower Total:						23,185					
Swimming Pool Pavilion											
Pavilion Roof											
Tennis Center											
Chain Link Fencing											
Tennis Court Light Poles											
Tennis Center Total:											
Playground											
Neos Play Equipment											
Net Stepper											
Play Equipment - Large Allowance											
Play Equipment - Small Allowance											
Playground Total:											
Main Street Park											
Free Play Climber Allowance											
Play Equipment Allowance											
Main Street Park Total:											
Mail Kiosk											
Mail Boxes - Main Street											
Mail Boxes - Narrow Leaf											
Mail Boxes - Sapelo Street											
Mail Boxes - Sapelo Street											
Mail Boxes - Waterfront Drive											
Mail Kiosk Total:											

2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Description

Aluminium Fence 4Ft. - Community Garden Aluminium Pegola Over Pool Repair

Unfunded Unfunded

Operation Budget Funded
Asphalt Seal Coat - Parking Lot	Unfunded

Carpet - Meeting Room Ceiling Fans - Exterior

Unfunded Unfunded

Brick Paver Reset Allowance	Unfunded
Ceiling Fans - Interior	Unfunded

Climber Coach Lights

Unfunded Unfunded

Ceiling Fans - Pool Pavilion	Unfunded
Drinking Fountain	Unfunded

Exterior Painting
Exterior Painting - Main Steet

Unfunded Unfunded

Dumpster Enclosure Gates	Unfunded
Exterior Painting - Maintenance Buiding	Unfunded

Exterior Painting - Sapelo Street Exterior Painting - Waterfront Drive

Unfunded Unfunded

Exterior Painting - Narrow Leaf	Unfunded
Exterior Painting - Wood Siding	Unfunded

Floor Refinishing - Group Fitness Gas Grill

Unfunded Unfunded

Fire Alarm Panel	Unfunded
Geo Dome Climber	Unfunded

Landscape Allowance - 5 Year Cycle Microwave

Unfunded Unfunded

Irrigation Allowance - 2 Year Cycle	Unfunded
Monument Sign Refurbishment	Unfunded

Park Benches
Patio Furniture Allowance

Unfunded Unfunded

Park Bench	Unfunded
Patio Furniture Allowance - 3 Year Cycle	Unfunded

Pergola Repair & Painting	Unfunded

Pavilion Furniture Allowance	Unfunded

2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Description

Pool Deck Paver Reset Allowance Pool Pumps & Equipment

Unfunded Unfunded

Operation Budget Funded continued...
Pool Slide Frame - Painting	Unfunded

Refrigerator
Security Camera Allowance

Unfunded Unfunded

Porch Furniture Allowance	Unfunded
Shredded Rubber Play Surface Replenishment	Unfunded

Single Post Swing - One Bay Standing Seam Metal Roof

Unfunded Unfunded

Single Post Swing - 2 Bay	Unfunded
Standing Seam Roof	Unfunded

Standing Seam Roof - Main Street Standing Seam Roof - Narrow Leaf

Unfunded Unfunded

Standing Seam Roof - Community Garden	Unfunded
Standing Seam Roof - Sapelo Street	Unfunded

Steel Trash Can Stone Top

Unfunded Unfunded

Standing Seam Roof - Waterfront Drive	Unfunded
Street Signage	Unfunded

Wall Coverning - Restrooms Water Cooler

Unfunded Unfunded

Tennis Court Replenishment	Unfunded
Water Coolers	Unfunded

Window Treatment Replacement Allowance Wood Ceiling & Trim Painting

Unfunded Unfunded

Water Heater	Unfunded
Wood Floor Refinishing - Club Room	Unfunded

Year Total:	13,113	28,217	14,329	166,963	15,657

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	
Beginning Balance	934,620	1,015,928	1,160,123	1,271,385	1,407,619	1,566,672	1,349,882	1,355,702	1,494,788	1,652,826	
Annual Assessment	134,392	138,423	142,576	146,853	151,259	155,797	160,471	165,285	170,243	175,351	
Interest Earned	5,054	5,772	6,325	7,003	7,794	6,716	6,745	7,437	8,223	7,951	
Expenditures	58,138		37,640	17,622		379,303	161,395	33,635	20,429	238,049	
Ending Balance	1,015,928	1,160,123	1,271,385	1,407,619	1,566,672	1,349,882	1,355,702	1,494,788	1,652,826	1,598,078	

Description
Misc. Site Components		
Aluminium Flag Pole
Asphalt Walking Trails - Phase I		
Asphalt Walking Trails - Phase II
Asphalt Walking Trails - Phase III		
Asphalt Walking Trails - Phase IV
Asphalt Walking Trails - Phase V		
Decorative Street Lights - Phase I
Decorative Street Lights - Phase II		
Decorative Street Lights - Phase III
Decorative Street Lights - Phase IV		
Decorative Street Lights - Phase V		
Misc. Site Components Total:		
Street Paving		
Alleyways
Baya Street		
Flint Street
Kendall Crossing Drive		
Manteo Street
Mascotte Street		
Potter Street
RIverwalk Blvd.	
161,395	
Rambling Water Run
Rivertown Blvd.		
Sternwheel Drive		
Street Paving Total:	161,395	

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	
Description
Amenity Site Components											
Asphalt Mill & 1 1/2" Overlay						124,326					
Amenity Site Components Total:						124,326					
Riverclub - Roof & Exterior Walls											
Exterior Painting - Porch Ceiling	5,765										
Exterior Painting - Siding	5,644										
Standing Seam Metal Roof											
Riverclub - Roof & Exterior Walls Total:	11,410										
Riverclub - Floors & Walls											
Floor Tile - Restrooms											
Riverclub - Floors & Walls Total:											
Riverclub - Cabinets & Tops											
Stone Tops & Sinks - Restrooms						8,725					
Wood Cabinets & Stone Tops						7,665					
Riverclub - Cabinets & Tops Total:						16,390					
Riverclub - HVAC											
HVAC			20,531								
Riverclub - HVAC Total:			20,531								
Riverclub - Plumbing											
Plumbing Fixtures						13,710					
Riverclub - Plumbing Total:						13,710					
Riverclub Cabana											
Exterior Painting	2,258										
Metal Roof											
Wood Cabinets & Stone Top											
Riverclub Cabana Total:	2,258										
Fitness Center - Roof & Exterior Walls											
Exterior Painting - Porch Ceiling	4,731										
Exterior Painting - Siding	4,798										

2026	2027	2028	2029	2030	2031	2032	2033	2034	2035
Description
Fitness Center - Roof & Exterior Walls continued...
Standing Seam Metal Roof		
Fitness Center - Roof & Exterior Walls Total:	9,528		
Fitness Center - Floors & Walls			
Carpet Squares - Fitness Room
Floor & Wall Tile - Restrooms		6,762	
Fitness Center - Floors & Walls Total:		6,762	
Fitness Center - Misc. Components			
Phenolic Toilet Partitions
Window Shutters			
Fitness Center - Misc. Components Total:			
Fitness Center - Cabinets & Tops			
Cabinets & Tops - Social Director
Solid Surface Tops & Sinks - Restrooms		
6,855	
Fitness Center - Cabinets & Tops Total:		6,855	
Fitness Center - HVAC			
HVAC Equipment	24,190		
Fitness Center - HVAC Total:	24,190		
Fitness Center - Plumbing			
Plumbing Fixtures - Restrooms		21,188		
Fitness Center - Plumbing Total:		21,188		
Fitness Center - Furniture Fixtures & Equipment				
Fitness Equipment Allowance - 3 year cycle	8,555	9,348	10,215	
Fitness Center - Furniture Fixtures & Equipment Total:	8,555	9,348	10,215	
Swimming Pool - Misc. Components				
Aluminium Fencing & Gates - Pool
Pool Furniture Allowance - 3 Year Cycle	
8,555	
9,348	
10,215	
Swimming Pool - Misc. Components Total:	8,555	9,348	10,215	

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	
Description
Swimming Pools											
Pool Resurfacing - Family Pool										134,943	
Pool Resurfacing - Lap Pool										103,106	
Starting Platforms				17,622							
Swimming Pools Total:				17,622						238,049	
Swimming Pool Slide Tower											
Fiberglass Refurbishment - Pool Slide						31,159					
Swimming Pool Slide Tower Total:						31,159					
Swimming Pool Pavilion											
Pavilion Roof											
Tennis Center											
Chain Link Fencing								33,635			
Tennis Court Light Poles											
Tennis Center Total:								33,635			
Playground											
Neos Play Equipment						38,949					
Net Stepper						15,580					
Play Equipment - Large Allowance						31,159					
Play Equipment - Small Allowance						23,370					
Playground Total:						109,058					
Main Street Park											
Free Play Climber Allowance	10,751										
Play Equipment Allowance						31,159					
Main Street Park Total:	10,751					31,159					
Mail Kiosk											
Mail Boxes - Main Street											
Mail Boxes - Narrow Leaf											
Mail Boxes - Sapelo Street											
Mail Boxes - Sapelo Street											
Mail Boxes - Waterfront Drive											
Mail Kiosk Total:											

2026	2027	2028	2029	2030	2031	2032	2033	2034	2035
Description

Aluminium Fence 4Ft. - Community Garden Aluminium Pegola Over Pool Repair

Unfunded Unfunded

Operation Budget Funded
Asphalt Seal Coat - Parking Lot	Unfunded

Carpet - Meeting Room Ceiling Fans - Exterior

Unfunded Unfunded

Brick Paver Reset Allowance	Unfunded
Ceiling Fans - Interior	Unfunded

Climber Coach Lights

Unfunded Unfunded

Ceiling Fans - Pool Pavilion	Unfunded
Drinking Fountain	Unfunded

Exterior Painting
Exterior Painting - Main Steet

Unfunded Unfunded

Dumpster Enclosure Gates	Unfunded
Exterior Painting - Maintenance Buiding	Unfunded

Exterior Painting - Sapelo Street Exterior Painting - Waterfront Drive

Unfunded Unfunded

Exterior Painting - Narrow Leaf	Unfunded
Exterior Painting - Wood Siding	Unfunded

Floor Refinishing - Group Fitness Gas Grill

Unfunded Unfunded

Fire Alarm Panel	Unfunded
Geo Dome Climber	Unfunded

Landscape Allowance - 5 Year Cycle Microwave

Unfunded Unfunded

Irrigation Allowance - 2 Year Cycle	Unfunded
Monument Sign Refurbishment	Unfunded

Park Benches
Patio Furniture Allowance

Unfunded Unfunded

Park Bench	Unfunded
Patio Furniture Allowance - 3 Year Cycle	Unfunded

Pergola Repair & Painting	Unfunded

Pavilion Furniture Allowance	Unfunded

2026	2027	2028	2029	2030	2031	2032	2033	2034	2035
Description

Pool Deck Paver Reset Allowance Pool Pumps & Equipment

Unfunded Unfunded

Operation Budget Funded continued...
Pool Slide Frame - Painting	Unfunded

Refrigerator
Security Camera Allowance

Unfunded Unfunded

Porch Furniture Allowance	Unfunded
Shredded Rubber Play Surface Replenishment	Unfunded

Single Post Swing - One Bay Standing Seam Metal Roof

Unfunded Unfunded

Single Post Swing - 2 Bay	Unfunded
Standing Seam Roof	Unfunded

Standing Seam Roof - Main Street Standing Seam Roof - Narrow Leaf

Unfunded Unfunded

Standing Seam Roof - Community Garden	Unfunded
Standing Seam Roof - Sapelo Street	Unfunded

Steel Trash Can Stone Top

Unfunded Unfunded

Standing Seam Roof - Waterfront Drive	Unfunded
Street Signage	Unfunded

Wall Coverning - Restrooms Water Cooler

Unfunded Unfunded

Tennis Court Replenishment	Unfunded
Water Coolers	Unfunded

Window Treatment Replacement Allowance Wood Ceiling & Trim Painting

Unfunded Unfunded

Water Heater	Unfunded
Wood Floor Refinishing - Club Room	Unfunded

Year Total:	58,138	37,640	17,622	379,303	161,395	33,635	20,429	238,049

	2036	2037	2038	2039	2040	2041	2042	2043	2044	2045	
Beginning Balance	1,598,078	644,278	688,636	757,559	828,790	877,886	840,306	1,061,245	1,230,856	1,466,947	
Annual Assessment	180,611	186,029	191,610	197,359	203,279	209,378	215,659	222,129	228,793	235,657	
Interest Earned	3,205	3,426	3,769	4,123	4,368	4,181	5,280	6,124	7,298	8,513	
Expenditures	1,137,617	145,097	126,457	130,250	158,551	251,138		58,642			
Ending Balance	644,278	688,636	757,559	828,790	877,886	840,306	1,061,245	1,230,856	1,466,947	1,711,116	

Description							
Misc. Site Components							
Aluminium Flag Pole						7,956	
Asphalt Walking Trails - Phase I	21,668						
Asphalt Walking Trails - Phase II		22,318					
Asphalt Walking Trails - Phase III			22,987				
Asphalt Walking Trails - Phase IV				23,677			
Asphalt Walking Trails - Phase V					24,387		
Decorative Street Lights - Phase I	97,530						
Decorative Street Lights - Phase II		100,456					
Decorative Street Lights - Phase III			103,470				
Decorative Street Lights - Phase IV				106,574			
Decorative Street Lights - Phase V					109,771		
Misc. Site Components Total:	119,198	122,773	126,457	130,250	134,158	7,956	
Street Paving							
Alleyways	271,971						
Baya Street	24,173						
Flint Street	25,083						
Kendall Crossing Drive	48,144						
Manteo Street	16,486						
Mascotte Street	19,900						
Potter Street	16,486						
RIverwalk Blvd.							
Rambling Water Run	132,825						
Rivertown Blvd.	78,385						
Sternwheel Drive	154,318						
Street Paving Total:	787,772						

	2036	2037	2038	2039	2040	2041	2042	2043	2044	2045	
Description
Amenity Site Components											
Asphalt Mill & 1 1/2" Overlay											
Amenity Site Components Total:											
Riverclub - Roof & Exterior Walls											
Exterior Painting - Porch Ceiling	7,748										
Exterior Painting - Siding	7,586										
Standing Seam Metal Roof											
Riverclub - Roof & Exterior Walls Total:	15,334										
Riverclub - Floors & Walls											
Floor Tile - Restrooms	19,506										
Riverclub - Floors & Walls Total:	19,506										
Riverclub - Cabinets & Tops											
Stone Tops & Sinks - Restrooms											
Wood Cabinets & Stone Tops											
Riverclub - Cabinets & Tops Total:											
Riverclub - HVAC											
HVAC								31,987			
Riverclub - HVAC Total:								31,987			
Riverclub - Plumbing											
Plumbing Fixtures											
Riverclub - Plumbing Total:											
Riverclub Cabana											
Exterior Painting	3,034										
Metal Roof											
Wood Cabinets & Stone Top	5,057										
Riverclub Cabana Total:	8,091										
Fitness Center - Roof & Exterior Walls											
Exterior Painting - Porch Ceiling	6,358										
Exterior Painting - Siding	6,448										

2036	2037	2038	2039	2040	2041	2042	2043	2044	2045
Description
Fitness Center - Roof & Exterior Walls continued...
Standing Seam Metal Roof		
Fitness Center - Roof & Exterior Walls Total:	12,805		
Fitness Center - Floors & Walls			
Carpet Squares - Fitness Room
Floor & Wall Tile - Restrooms	
89,663	9,087	
Fitness Center - Floors & Walls Total:	89,663	9,087	
Fitness Center - Misc. Components			
Phenolic Toilet Partitions
Window Shutters	28,898	
15,075	
Fitness Center - Misc. Components Total:	28,898	15,075	
Fitness Center - Cabinets & Tops			
Cabinets & Tops - Social Director
Solid Surface Tops & Sinks - Restrooms	4,335		
Fitness Center - Cabinets & Tops Total:	4,335		
Fitness Center - HVAC			
HVAC Equipment			37,688		
Fitness Center - HVAC Total:			37,688		
Fitness Center - Plumbing					
Plumbing Fixtures - Restrooms					
Fitness Center - Plumbing Total:					
Fitness Center - Furniture Fixtures & Equipment					
Fitness Equipment Allowance - 3 year cycle	11,162	12,197		13,328	
Fitness Center - Furniture Fixtures & Equipment Total:	11,162	12,197		13,328	
Swimming Pool - Misc. Components					
Aluminium Fencing & Gates - Pool
Pool Furniture Allowance - 3 Year Cycle	
11,162	
12,197	51,308	
13,328	
Swimming Pool - Misc. Components Total:	11,162	12,197	51,308	13,328	

	2036	2037	2038	2039	2040	2041	2042	2043	2044	2045	
Description
Swimming Pools											
Pool Resurfacing - Family Pool											
Pool Resurfacing - Lap Pool											
Starting Platforms											
Swimming Pools Total:											
Swimming Pool Slide Tower											
Fiberglass Refurbishment - Pool Slide						41,876					
Swimming Pool Slide Tower Total:						41,876					
Swimming Pool Pavilion											
Pavilion Roof											
Tennis Center											
Chain Link Fencing											
Tennis Court Light Poles	52,016										
Tennis Center Total:	52,016										
Playground											
Neos Play Equipment											
Net Stepper											
Play Equipment - Large Allowance											
Play Equipment - Small Allowance											
Playground Total:											
Main Street Park											
Free Play Climber Allowance						16,750					
Play Equipment Allowance											
Main Street Park Total:						16,750					
Mail Kiosk											
Mail Boxes - Main Street						18,425					
Mail Boxes - Narrow Leaf						6,909					
Mail Boxes - Sapelo Street						16,122					
Mail Boxes - Sapelo Street						16,122					
Mail Boxes - Waterfront Drive						13,819					
Mail Kiosk Total:						71,398					

2036	2037	2038	2039	2040	2041	2042	2043	2044	2045
Description

Aluminium Fence 4Ft. - Community Garden Aluminium Pegola Over Pool Repair

Unfunded Unfunded

Operation Budget Funded
Asphalt Seal Coat - Parking Lot	Unfunded

Carpet - Meeting Room Ceiling Fans - Exterior

Unfunded Unfunded

Brick Paver Reset Allowance	Unfunded
Ceiling Fans - Interior	Unfunded

Climber Coach Lights

Unfunded Unfunded

Ceiling Fans - Pool Pavilion	Unfunded
Drinking Fountain	Unfunded

Exterior Painting
Exterior Painting - Main Steet

Unfunded Unfunded

Dumpster Enclosure Gates	Unfunded
Exterior Painting - Maintenance Buiding	Unfunded

Exterior Painting - Sapelo Street Exterior Painting - Waterfront Drive

Unfunded Unfunded

Exterior Painting - Narrow Leaf	Unfunded
Exterior Painting - Wood Siding	Unfunded

Floor Refinishing - Group Fitness Gas Grill

Unfunded Unfunded

Fire Alarm Panel	Unfunded
Geo Dome Climber	Unfunded

Landscape Allowance - 5 Year Cycle Microwave

Unfunded Unfunded

Irrigation Allowance - 2 Year Cycle	Unfunded
Monument Sign Refurbishment	Unfunded

Park Benches
Patio Furniture Allowance

Unfunded Unfunded

Park Bench	Unfunded
Patio Furniture Allowance - 3 Year Cycle	Unfunded

Pergola Repair & Painting	Unfunded

Pavilion Furniture Allowance	Unfunded

2036	2037	2038	2039	2040	2041	2042	2043	2044	2045
Description

Pool Deck Paver Reset Allowance Pool Pumps & Equipment

Unfunded Unfunded

Operation Budget Funded continued...
Pool Slide Frame - Painting	Unfunded

Refrigerator
Security Camera Allowance

Unfunded Unfunded

Porch Furniture Allowance	Unfunded
Shredded Rubber Play Surface Replenishment	Unfunded

Single Post Swing - One Bay Standing Seam Metal Roof

Unfunded Unfunded

Single Post Swing - 2 Bay	Unfunded
Standing Seam Roof	Unfunded

Standing Seam Roof - Main Street Standing Seam Roof - Narrow Leaf

Unfunded Unfunded

Standing Seam Roof - Community Garden	Unfunded
Standing Seam Roof - Sapelo Street	Unfunded

Steel Trash Can Stone Top

Unfunded Unfunded

Standing Seam Roof - Waterfront Drive	Unfunded
Street Signage	Unfunded

Wall Coverning - Restrooms Water Cooler

Unfunded Unfunded

Tennis Court Replenishment	Unfunded
Water Coolers	Unfunded

Window Treatment Replacement Allowance Wood Ceiling & Trim Painting

Unfunded Unfunded

Water Heater	Unfunded
Wood Floor Refinishing - Club Room	Unfunded

Year Total:	1,137,617	145,097	126,457	130,250	158,551	251,138	58,642

Alleyways	2036	3-12	
Aluminium Fence 4Ft. - Community Garden	Unfunded	3-52	
Aluminium Fencing & Gates - Pool	2041	3-36	
Aluminium Flag Pole	2041	3-5	
Aluminium Pegola Over Pool Repair	Unfunded	3-52	
Asphalt Mill & 1 1/2" Overlay	2031	3-15	
Asphalt Seal Coat - Parking Lot	Unfunded	3-53	
Asphalt Walking Trails - Phase I	2036	3-5	
Asphalt Walking Trails - Phase II	2037	3-6	
Asphalt Walking Trails - Phase III	2038	3-6	
Asphalt Walking Trails - Phase IV	2039	3-7	
Asphalt Walking Trails - Phase V	2040	3-8	
Baya Street	2036	3-12	
Brick Paver Reset Allowance	Unfunded	3-53	
Cabinets & Tops - Social Director	2036	3-31	
Carpet - Meeting Room	Unfunded	3-54	
Carpet Squares - Fitness Room	2021	3-27	
Ceiling Fans - Exterior	Unfunded	3-54	
Ceiling Fans - Interior	Unfunded	3-55	
Ceiling Fans - Pool Pavilion	Unfunded	3-55	
Chain Link Fencing	2033	3-42	
Climber	Unfunded	3-56	
Coach Lights	Unfunded	3-56	
Decorative Street Lights - Phase I	2036	3-8	
Decorative Street Lights - Phase II	2037	3-9	
Decorative Street Lights - Phase III	2038	3-10	
Decorative Street Lights - Phase IV	2039	3-10	
Decorative Street Lights - Phase V	2040	3-11	
Drinking Fountain	Unfunded	3-57	
Dumpster Enclosure Gates	Unfunded	3-57	
Exterior Painting	Unfunded	3-58	
Exterior Painting	2026	3-23	
Exterior Painting - Main Steet	Unfunded	3-58	
Exterior Painting - Maintenance Buiding	Unfunded	3-59	
Exterior Painting - Narrow Leaf	Unfunded	3-59	
Exterior Painting - Porch Ceiling	2026	3-16	
Exterior Painting - Porch Ceiling	2026	3-25	
Exterior Painting - Sapelo Street	Unfunded	3-60	

Exterior Painting - Siding	2026	3-25	
Exterior Painting - Siding	2026	3-16	
Exterior Painting - Waterfront Drive	Unfunded	3-60	
Exterior Painting - Wood Siding	Unfunded	3-61	
Fiberglass Refurbishment - Pool Slide	2021	3-40	
Fire Alarm Panel	Unfunded	3-61	
Fitness Equipment Allowance - 3 year cycle	2019	3-35	
Flint Street	2036	3-12	
Floor & Wall Tile - Restrooms	2036	3-27	
Floor Refinishing - Group Fitness	Unfunded	3-62	
Floor Tile - Restrooms	2036	3-18	
Free Play Climber Allowance	2026	3-47	
Gas Grill	Unfunded	3-62	
Geo Dome Climber	Unfunded	3-63	
HVAC	2028	3-21	
HVAC Equipment	2026	3-33	
Irrigation Allowance - 2 Year Cycle	Unfunded	3-63	
Kendall Crossing Drive	2036	3-12	
Landscape Allowance - 5 Year Cycle	Unfunded	3-63	
Mail Boxes - Main Street	2041	3-49	
Mail Boxes - Narrow Leaf	2041	3-49	
Mail Boxes - Sapelo Street	2041	3-50	
Mail Boxes - Sapelo Street	2041	3-50	
Mail Boxes - Waterfront Drive	2041	3-51	
Manteo Street	2036	3-13	
Mascotte Street	2036	3-13	
Metal Roof	2046	3-23	
Microwave	Unfunded	3-64	
Monument Sign Refurbishment	Unfunded	3-64	
Neos Play Equipment	2031	3-44	
Net Stepper	2031	3-44	
Park Bench	Unfunded	3-65	
Park Benches	Unfunded	3-65	
Patio Furniture Allowance	Unfunded	3-66	
Patio Furniture Allowance - 3 Year Cycle	Unfunded	3-66	
Pavilion Furniture Allowance	Unfunded	3-67	
Pavilion Roof	2046	3-41	
Pergola Repair & Painting	Unfunded	3-68	

Phenolic Toilet Partitions	2036	3-29	
Play Equipment - Large Allowance	2031	3-45	
Play Equipment - Small Allowance	2031	3-45	
Play Equipment Allowance	2031	3-47	
Plumbing Fixtures	2031	3-22	
Plumbing Fixtures - Restrooms	2031	3-34	
Pool Deck Paver Reset Allowance	Unfunded	3-68	
Pool Furniture Allowance - 3 Year Cycle	2019	3-36	
Pool Pumps & Equipment	Unfunded	3-69	
Pool Resurfacing - Family Pool	2023	3-38	
Pool Resurfacing - Lap Pool	2023	3-38	
Pool Slide Frame - Painting	Unfunded	3-69	
Porch Furniture Allowance	Unfunded	3-70	
Potter Street	2036	3-13	
RIverwalk Blvd.	2032	3-13	
Rambling Water Run	2036	3-14	
Refrigerator	Unfunded	3-71	
Rivertown Blvd.	2036	3-14	
Security Camera Allowance	Unfunded	3-71	
Shredded Rubber Play Surface Replenishment	Unfunded	3-72	
Single Post Swing - 2 Bay	Unfunded	3-72	
Single Post Swing - One Bay	Unfunded	3-73	
Solid Surface Tops & Sinks - Restrooms	2031	3-31	
Standing Seam Metal Roof	2046	3-17	
Standing Seam Metal Roof	2046	3-26	
Standing Seam Metal Roof	Unfunded	3-73	
Standing Seam Roof	Unfunded	3-74	
Standing Seam Roof - Community Garden	Unfunded	3-74	
Standing Seam Roof - Main Street	Unfunded	3-75	
Standing Seam Roof - Narrow Leaf	Unfunded	3-75	
Standing Seam Roof - Sapelo Street	Unfunded	3-76	
Standing Seam Roof - Waterfront Drive	Unfunded	3-76	
Starting Platforms	2029	3-39	
Steel Trash Can	Unfunded	3-77	
Sternwheel Drive	2036	3-14	
Stone Top	Unfunded	3-77	
Stone Tops & Sinks - Restrooms	2031	3-19	
Street Signage	Unfunded	3-78	

Tennis Court Light Poles	2036	3-42	
Tennis Court Replenishment	Unfunded	3-78	
Wall Coverning - Restrooms	Unfunded	3-79	
Water Cooler	Unfunded	3-79	
Water Coolers	Unfunded	3-80	
Water Heater	Unfunded	3-80	
Window Shutters	2041	3-29	
Window Treatment Replacement Allowance	Unfunded	3-81	
Wood Cabinets & Stone Top	2036	3-24	
Wood Cabinets & Stone Tops	2031	3-19	
Wood Ceiling & Trim Painting	Unfunded	3-81	
Wood Floor Refinishing - Club Room	Unfunded	3-82	

Total Funded Assets	
66	
Total Unfunded Assets	 60	
Total Assets	126	

Aluminium Flag Pole - 2041

1 Each

@ $3,800.00

Misc. Site Components
Placed in Service	June 2012
Useful Life	30
Replacement Year	2041
Remaining Life	25

Asset Cost	$3,800.00
Percent Replacement	100%
Future Cost	$7,956.35

Asphalt Walking Trails - Phase I - 2036

Misc. Site Components
Placed in Service	June 2012
Useful Life	25
Replacement Year	2036
Remaining Life	20

3,749 Square Yards	@ $16.00
Asset Cost	$11,996.80
Percent Replacement	20%
Future Cost	$21,667.55

We assume this component will be replaced over a 5 year period.

Asphalt Walking Trails - Phase II - 2037

Misc. Site Components
Placed in Service	June 2012
Useful Life	25
Adjustment	1
Replacement Year	2037
Remaining Life	21

3,749 Square Yards	@ $16.00
Asset Cost	$11,996.80
Percent Replacement	20%
Future Cost	$22,317.58

We assume this component will be replaced over a 5 year period.

Asphalt Walking Trails - Phase III - 2038

Misc. Site Components
Placed in Service	June 2012
Useful Life	25
Adjustment	2
Replacement Year	2038
Remaining Life	22

3,749 Square Yards	@ $16.00
Asset Cost	$11,996.80
Percent Replacement	20%
Future Cost	$22,987.11

Asphalt Walking Trails - Phase III continued...

We assume this component will be replaced over a 5 year period.

Asphalt Walking Trails - Phase IV - 2039

Misc. Site Components
Placed in Service	June 2012
Useful Life	25
Adjustment	3
Replacement Year	2039
Remaining Life	23

3,749 Square Yards	@ $16.00
Asset Cost	$11,996.80
Percent Replacement	20%
Future Cost	$23,676.72

We assume this component will be replaced over a 5 year period.

Asphalt Walking Trails - Phase V - 2040

Misc. Site Components
Placed in Service	June 2012
Useful Life	25
Adjustment	4
Replacement Year	2040
Remaining Life	24

3,749 Square Yards	@ $16.00
Asset Cost	$11,996.80
Percent Replacement	20%
Future Cost	$24,387.02

We assume this component will be replaced over a 5 year period.

Decorative Street Lights - Phase I - 2036

30 Each

@ $1,800.00

Misc. Site Components
Placed in Service	June 2012
Useful Life	25
Replacement Year	2036
Remaining Life	20

Asset Cost	$54,000.00
Percent Replacement	100%
Future Cost	$97,530.01

Decorative Street Lights - Phase I continued...

We assume this component will be replaced over a 5 year period.

Decorative Street Lights - Phase II - 2037

30 Each

@ $1,800.00

Misc. Site Components
Placed in Service	June 2012
Useful Life	25
Adjustment	1
Replacement Year	2037
Remaining Life	21

Asset Cost	$54,000.00
Percent Replacement		100% Future Cost	$100,455.91

We assume this component will be replaced over a 5 year period.

Decorative Street Lights - Phase III - 2038

Misc. Site Components
Placed in Service	June 2012
Useful Life	25
Adjustment	2
Replacement Year	2038
Remaining Life	22

30 Each	@ $1,800.00 Asset Cost		$54,000.00
Percent Replacement		100% Future Cost	$103,469.58

We assume this component will be replaced over a 5 year period.

Decorative Street Lights - Phase IV - 2039

Misc. Site Components
Placed in Service	June 2012
Useful Life	25
Adjustment	3
Replacement Year	2039
Remaining Life	23

30 Each	@ $1,800.00 Asset Cost		$54,000.00
Percent Replacement		100% Future Cost	$106,573.67

Decorative Street Lights - Phase IV continued...

We assume this component will be replaced over a 5 year period.

Decorative Street Lights - Phase V - 2040

Misc. Site Components
Placed in Service	June 2012
Useful Life	25
Adjustment	4
Replacement Year	2040
Remaining Life	24

30 Each	@ $1,800.00 Asset Cost		$54,000.00
Percent Replacement		100% Future Cost	$109,770.88

We assume this component will be replaced over a 5 year period.

Misc. Site Components - Total Current Cost	$333,784

Alleyways - 2036

Street Paving

10,756 SY	@ $14.00
Asset Cost	$150,584.00 Percent Replacement		100% Future Cost	$271,971.45

Placed in Service	June 2012
Useful Life	25
Replacement Year	2036
Remaining Life	20
Mill and overlay with 1 1/2" asphalt.

Street Paving
Placed in Service	June 2012
Useful Life	25
Replacement Year	2036
Remaining Life	20
Mill and overlay with 1 1/2" asphalt.

Baya Street - 2036

956 SY

@ $14.00

Asset Cost	$13,384.00
Percent Replacement	100%
Future Cost	$24,172.99

Flint Street - 2036

992 SY

@ $14.00

Street Paving
Placed in Service	June 2012
Useful Life	25
Replacement Year	2036
Remaining Life	20
Mill and overlay with 1 1/2" asphalt.

Asset Cost	$13,888.00
Percent Replacement	100%
Future Cost	$25,083.27

Kendall Crossing Drive - 2036

1,904 SY

@ $14.00

Street Paving
Placed in Service	June 2012
Useful Life	25
Replacement Year	2036
Remaining Life	20
Mill and overlay with 1 1/2" asphalt.

Asset Cost	$26,656.00
Percent Replacement	100%
Future Cost	$48,143.70

Manteo Street - 2036

652 SY

@ $14.00

Street Paving
Placed in Service	June 2012
Useful Life	25
Replacement Year	2036
Remaining Life	20
Mill and overlay with 1 1/2" asphalt.

Asset Cost	$9,128.00
Percent Replacement	100%
Future Cost	$16,486.18

Mascotte Street - 2036

787 SY

@ $14.00

Street Paving
Placed in Service	June 2012
Useful Life	25
Replacement Year	2036
Remaining Life	20
Mill and overlay with 1 1/2" asphalt.

Asset Cost	$11,018.00
Percent Replacement	100%
Future Cost	$19,899.73

Potter Street - 2036

652 SY

@ $14.00

Street Paving
Placed in Service	June 2012
Useful Life	25
Replacement Year	2036
Remaining Life	20
Mill and overlay with 1 1/2" asphalt.

Asset Cost	$9,128.00
Percent Replacement	100%
Future Cost	$16,486.18

RIverwalk Blvd. - 2032

7,184 SY

@ $14.00

Street Paving
Placed in Service	June 2008
Useful Life	25
Replacement Year	2032
Remaining Life	16
Mill and overlay with 1 1/2" asphalt.

Asset Cost	$100,576.00
Percent Replacement		100% Future Cost	$161,394.95

Street Paving
Placed in Service	June 2012
Useful Life	25
Replacement Year	2036
Remaining Life	20
Mill and overlay with 1 1/2" asphalt.

Asset Cost	$73,542.00

Rambling Water Run - 2036

5,253 SY

@ $14.00

Percent Replacement		100% Future Cost	$132,825.03

Street Paving
Placed in Service	June 2012
Useful Life	25
Replacement Year	2036
Remaining Life	20
Mill and overlay with 1 1/2" asphalt.

Rivertown Blvd. - 2036

3,100 SY

@ $14.00

Asset Cost	$43,400.00
Percent Replacement	100%
Future Cost	$78,385.23

Sternwheel Drive - 2036

6,103 SY

@ $14.00

Street Paving
Placed in Service	June 2012
Useful Life	25
Replacement Year	2036
Remaining Life	20
Mill and overlay with 1 1/2" asphalt.

Asset Cost	$85,442.00
Percent Replacement		100% Future Cost	$154,317.75

Street Paving - Total Current Cost	$536,746

Asphalt Mill & 1 1/2" Overlay - 2031

5,700 SY

@ $14.00

Amenity Site Components
Placed in Service	June 2012	
Useful Life	20	
Replacement Year	2031	
Remaining Life	15	

Mill and overlay with 1 1/2" asphalt.

Asset Cost	$79,800.00
Percent Replacement		100% Future Cost	$124,325.80

Amenity Site Components - Total Current Cost	$79,800

Exterior Painting - Porch Ceiling - 2026

3,900 SF

@ $1.10

Riverclub - Roof & Exterior Walls
Placed in Service	June 2012	
Useful Life	10	
Adjustment	5	
Replacement Year	2026	
Remaining Life	10	

Wood framing above porch.

Asset Cost	$4,290.00
Percent Replacement	100%
Future Cost	$5,765.40

Exterior Painting - Siding - 2026

4,000 SF

@ $1.05

Riverclub - Roof & Exterior Walls

Asset Cost	$4,200.00
Percent Replacement	100%
Future Cost	$5,644.45

Placed in Service	June 2012	
Useful Life	10	
Adjustment	5	
Replacement Year	2026	
Remaining Life	10	

Exterior Painting - Siding continued...

Standing Seam Metal Roof - 2046

14,000 SF

@ $9.00

Riverclub - Roof & Exterior Walls

Asset Cost	$126,000.00
Percent Replacement		100% Future Cost	$305,835.07

Placed in Service	June 2012	
Useful Life	35	
Replacement Year	2046	
Remaining Life	30	

Riverclub - Roof & Exterior Walls - Total Current Cost	$134,490

Floor Tile - Restrooms - 2036

600 Square Feet

@ $18.00

Riverclub - Floors & Walls

Asset Cost	$10,800.00
Percent Replacement	100%
Future Cost	$19,506.00

Placed in Service	June 2012	
Useful Life	25	
Replacement Year	2036	
Remaining Life	20	

Riverclub - Floors & Walls - Total Current Cost	$10,800

Stone Tops & Sinks - Restrooms - 2031

	14 Linear Feet	@ $400.00	
	Asset Cost	$5,600.00	
	Percent Replacement	100%	
Riverclub - Cabinets & Tops	Future Cost	$8,724.62	
Placed in Service	June 2012	
Useful Life	20	
Replacement Year	2031	
Remaining Life	15	

Wood Cabinets & Stone Tops - 2031

12 LF

@ $410.00

Riverclub - Cabinets & Tops
Placed in Service	June 2012	
Useful Life	20	
Replacement Year	2031	
Remaining Life	15	

Base Cabinets 12 Ft

Asset Cost	$4,920.00
Percent Replacement	100%
Future Cost	$7,665.20

Wood Cabinets & Stone Tops continued...

Wall Cabinets 6
Top 12 Ft
Bar	8 Ft

Riverclub - Cabinets & Tops - Total Current Cost	$10,520

HVAC - 2028

Riverclub - HVAC

8 TONS	@ $1,800.00
Asset Cost	$14,400.00
Percent Replacement	100%
Future Cost	$20,530.96

Placed in Service	June 2012
Useful Life	15
Adjustment	2
Replacement Year	2028
Remaining Life	12

Riverclub - HVAC - Total Current Cost	$14,400

Plumbing Fixtures - 2031

11 Each

@ $800.00

Riverclub - Plumbing
Placed in Service	June 2012
Useful Life	20
Replacement Year	2031
Remaining Life	15

Asset Cost	$8,800.00
Percent Replacement	100%
Future Cost	$13,710.11

 

Riverclub - Plumbing - Total Current Cost	$8,800

Exterior Painting - 2026

1,600 SF

@ $1.05

Riverclub Cabana
Placed in Service	June 2012
Useful Life	10
Adjustment	5
Replacement Year	2026
Remaining Life	10

Asset Cost	$1,680.00
Percent Replacement	100%
Future Cost	$2,257.78

Metal Roof - 2046

800 SF

@ $9.00

Riverclub Cabana
Placed in Service	June 2012
Useful Life	35
Replacement Year	2046
Remaining Life	30

Asset Cost	$7,200.00
Percent Replacement	100%
Future Cost	$17,476.29

Wood Cabinets & Stone Top - 2036

16 LF

@ $175.00

Riverclub Cabana
Placed in Service	June 2012
Useful Life	25
Replacement Year	2036
Remaining Life	20

Asset Cost	$2,800.00
Percent Replacement	100%
Future Cost	$5,057.11

Riverclub Cabana - Total Current Cost	$11,680

Exterior Painting - Porch Ceiling - 2026

3,200 SF

@ $1.10

Fitness Center - Roof & Exterior Walls
Placed in Service	June 2012	
Useful Life	10	
Adjustment	5	
Replacement Year	2026	
Remaining Life	10	

Fitness Center - Roof & Exterior Walls

Asset Cost	$3,520.00
Percent Replacement	100%

Future Cost	$4,730.59

Exterior Painting - Siding - 2026

4,200 SF

@ $0.85

Asset Cost	$3,570.00
Percent Replacement	100%
Future Cost	$4,797.78

Placed in Service	June 2012	
Useful Life	10	
Adjustment	5	
Replacement Year	2026	
Remaining Life	10	

Standing Seam Metal Roof - 2046

13,600 SF

@ $9.00

Fitness Center - Roof & Exterior Walls

Asset Cost	$122,400.00
Percent Replacement		100% Future Cost	$297,096.92

Placed in Service	June 2012	
Useful Life	35	
Replacement Year	2046	
Remaining Life	30	

Fitness Center - Roof & Exterior Walls - Total Current Cost	$129,490

Carpet Squares - Fitness Room - 2021

155 SY

@ $28.00

Fitness Center - Floors & Walls

Asset Cost	$4,340.00
Percent Replacement	100%
Future Cost	$5,031.25

Placed in Service	June 2012	
Useful Life	10	
Replacement Year	2021	
Remaining Life	5	

Floor & Wall Tile - Restrooms - 2036

	3,546 Square Feet	@ $14.00	
	Asset Cost	$49,644.00	
	Percent Replacement	100%	
Fitness Center - Floors & Walls	Future Cost	$89,662.58	
Placed in Service	June 2012	
Useful Life	25	
Replacement Year	2036	
Remaining Life	20	

Fitness Center - Floors & Walls - Total Current Cost	$53,984

Phenolic Toilet Partitions - 2036

10 Stalls

@ $1,600.00

Fitness Center - Misc. Components

Asset Cost	$16,000.00
Percent Replacement	100%
Future Cost	$28,897.78

Placed in Service	June 2012	
Useful Life	25	
Replacement Year	2036	
Remaining Life	20	

Window Shutters - 2041	12 Pair	@ $600.00	
	Asset Cost	$7,200.00	
	Percent Replacement	100%	
Fitness Center - Misc. Components	Future Cost	$15,075.20	
Placed in Service	June 2012	
Useful Life	30	
Replacement Year	2041	
Remaining Life	25	

Fitness Center - Misc. Components - Total Current Cost	$23,200

Cabinets & Tops - Social Director - 2036

12 LF

@ $200.00

Fitness Center - Cabinets & Tops

Asset Cost	$2,400.00
Percent Replacement	100%
Future Cost	$4,334.67

Placed in Service	June 2012	
Useful Life	25	
Replacement Year	2036	
Remaining Life	20	

Solid Surface Tops & Sinks - Restrooms - 2031

	22 Linear Feet	@ $200.00	
	Asset Cost	$4,400.00	
	Percent Replacement	100%	
Fitness Center - Cabinets & Tops	Future Cost	$6,855.06	
Placed in Service	June 2012	
Useful Life	20	
Replacement Year	2031	
Remaining Life	15	

Fitness Center - Cabinets & Tops - Total Current Cost	$6,800

HVAC Equipment - 2026

10 Tons

@ $1,800.00

Fitness Center - HVAC
Placed in Service	June 2012
Useful Life	15
Replacement Year	2026
Remaining Life	10

Asset Cost	$18,000.00
Percent Replacement	100%
Future Cost	$24,190.49

Mechanical equipment was not accessable therefore we have included an estimate of unit size.

Fitness Center - HVAC - Total Current Cost	$18,000

Plumbing Fixtures - Restrooms - 2031

17 Each

@ $800.00

Fitness Center - Plumbing

Asset Cost	$13,600.00
Percent Replacement	100%
Future Cost	$21,188.36

Placed in Service	June 2012	
Useful Life	20	
Replacement Year	2031	
Remaining Life	15	

Fitness Center - Plumbing - Total Current Cost	$13,600

Fitness Equipment Allowance - 3 year cycle - 2019

	1 LS	@ $6,000.00	
	Asset Cost	$6,000.00	
	Percent Replacement	100%	
Fitness Center - Furniture Fixtures & Equipment	Future Cost	$6,556.36	
Placed in Service	October 2016	
Useful Life	3	
Adjustment	3	
Replacement Year	2019	
Remaining Life	3	

Fitness center contains a combination of strength and cardio equipment. Associations usually replace the equipment as it wears and do not replace all the equipment at one time. We have included a replacement allowance every 3 years.

Fitness Center - Furniture Fixtures & Equipment
Total Current Cost	$6,000

Aluminium Fencing & Gates - Pool - 2041

845 LF

@ $29.00

Pool Furniture Allowance - 3 Year Cycle - 2019

	1 LS	@ $6,000.00	
	Asset Cost	$6,000.00	
	Percent Replacement	100%	
Swimming Pool - Misc. Components	Future Cost	$6,556.36	
Placed in Service	October 2016	
Useful Life	3	
Adjustment	3	
Replacement Year	2019	
Remaining Life	3	

Swimming Pool - Misc. Components
Placed in Service	June 2012	
Useful Life	30	
Replacement Year	2041	
Remaining Life	25	

Tables	7

Asset Cost	$24,505.00
Percent Replacement	100%
Future Cost	$51,308.03

Pool Furniture Allowance - 3 Year Cycle continued...

Chairs	28	
Chaize Lounge	58	
Tables	17	

Swimming Pool - Misc. Components - Total Current Cost	$30,505

Pool Resurfacing - Family Pool - 2023

6,413 SF

@ $12.00

Swimming Pools
Placed in Service	June 2012
Useful Life	12
Replacement Year	2023
Remaining Life	7

Asset Cost	$76,956.00
Percent Replacement	100%
Future Cost	$94,646.17

Pool Resurfacing - Lap Pool - 2023

4,900 SF

@ $12.00

Swimming Pools
Placed in Service	June 2012
Useful Life	12
Replacement Year	2023
Remaining Life	7

Asset Cost	$58,800.00
Percent Replacement	100%
Future Cost	$72,316.58

Starting Platforms - 2029

6 EA

@ $2,000.00

Swimming Pools
Placed in Service	June 2012
Useful Life	18
Replacement Year	2029
Remaining Life	13

Asset Cost	$12,000.00
Percent Replacement	100%
Future Cost	$17,622.40

Swimming Pools - Total Current Cost	$147,756

Fiberglass Refurbishment - Pool Slide - 2021

1 Lump Sum	@ $20,000.00	
Asset Cost	$20,000.00	
Percent Replacement	100%	
Future Cost	$23,185.48	

Swimming Pool Slide Tower
Placed in Service	June 2012	
Useful Life	10	
Replacement Year	2021	
Remaining Life	5	

This structure does not have a published predictable useful life. We have included an allowance for fiberglass refurbishment.

Swimming Pool Slide Tower - Total Current Cost	$20,000

Pavilion Roof - 2046

2,100 SF

@ $9.00

Swimming Pool Pavilion

Asset Cost	$18,900.00
Percent Replacement	100%
Future Cost	$45,875.26

Placed in Service	June 2012	
Useful Life	35	
Replacement Year	2046	
Remaining Life	30	

pavilion

Swimming Pool Pavilion - Total Current Cost	$18,900

Chain Link Fencing - 2033

925 LF

@ $22.00

Tennis Center
Placed in Service	June 2012
Useful Life	22
Replacement Year	2033
Remaining Life	17

Asset Cost	$20,350.00
Percent Replacement	100%
Future Cost	$33,635.45

Tennis Court Light Poles - 2036

12 EA

@ $2,400.00

Tennis Center
Placed in Service	June 2012
Useful Life	25
Replacement Year	2036
Remaining Life	20

Asset Cost	$28,800.00
Percent Replacement	100%
Future Cost	$52,016.00

Tennis Center - Total Current Cost	$49,150

Neos Play Equipment - 2031

1 Lump Sum	@ $25,000.00

Playground
Placed in Service	June 2012
Useful Life	20
Replacement Year	2031
Remaining Life	15

Asset Cost	$25,000.00
Percent Replacement	100%
Future Cost	$38,949.18

Net Stepper - 2031

Playground

1 Each	@ $10,000.00 Asset Cost		$10,000.00
Percent Replacement	100%
Future Cost	$15,579.67

Placed in Service	June 2012
Useful Life	20
Replacement Year	2031
Remaining Life	15

Play Equipment - Large Allowance - 2031

Playground
Placed in Service	June 2012
Useful Life	20
Replacement Year	2031
Remaining Life	15

1 Lump Sum	@ $20,000.00 Asset Cost		$20,000.00
Percent Replacement	100%
Future Cost	$31,159.35

Play Equipment - Small Allowance - 2031

Playground
Placed in Service	June 2012
Useful Life	20
Replacement Year	2031
Remaining Life	15

1 Lump Sum	@ $15,000.00 Asset Cost		$15,000.00
Percent Replacement	100%
Future Cost	$23,369.51

Playground - Total Current Cost	$70,000

Free Play Climber Allowance - 2026

1 Each

@ $8,000.00

Main Street Park
Placed in Service	June 2012
Useful Life	15
Replacement Year	2026
Remaining Life	10

Asset Cost	$8,000.00
Percent Replacement	100%
Future Cost	$10,751.33

Play Equipment Allowance - 2031

1 Each	@ $20,000.00

Main Street Park
Placed in Service	June 2012
Useful Life	15
Adjustment	5
Replacement Year	2031
Remaining Life	15

Asset Cost	$20,000.00
Percent Replacement	100%
Future Cost	$31,159.35

Main Street Park - Total Current Cost	$28,000

Mail Boxes - Main Street - 2041

176 Boxes

@ $50.00

Mail Kiosk
Placed in Service	June 2012
Useful Life	30
Replacement Year	2041
Remaining Life	25

Asset Cost	$8,800.00
Percent Replacement	100%
Future Cost	$18,425.24

Mail Boxes - Narrow Leaf - 2041

66 Boxes

@ $50.00

Mail Kiosk
Placed in Service	June 2012
Useful Life	30
Replacement Year	2041
Remaining Life	25

Asset Cost	$3,300.00
Percent Replacement	100%
Future Cost	$6,909.47

Mail Boxes - Sapelo Street - 2041

154 Boxes

@ $50.00

Mail Kiosk
Placed in Service	June 2012
Useful Life	30
Replacement Year	2041
Remaining Life	25

Asset Cost	$7,700.00
Percent Replacement	100%
Future Cost	$16,122.09

Mail Boxes - Sapelo Street - 2041

154 Boxes

@ $50.00

Mail Kiosk
Placed in Service	June 2012
Useful Life	30
Replacement Year	2041
Remaining Life	25

Asset Cost	$7,700.00
Percent Replacement	100%
Future Cost	$16,122.09

Mail Boxes - Waterfront Drive - 2041

132 Boxes

@ $50.00

Mail Kiosk
Placed in Service	June 2012
Useful Life	30
Replacement Year	2041
Remaining Life	25

Asset Cost	$6,600.00
Percent Replacement	100%
Future Cost	$13,818.93

Mail Kiosk - Total Current Cost	$34,100

Aluminium Fence 4Ft. - Community Garden

	224 Linear Feet	@ $28.00	
	Asset Cost	$6,272.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$13,132.17	
Placed in Service	June 2012	
Useful Life	30	
Replacement Year	2041	
Remaining Life	25	

Aluminium Pegola Over Pool Repair

1 LS	@ $16,000.00	
Asset Cost	$16,000.00	
Percent Replacement	100%	
Future Cost	$33,500.45	

Operation Budget Funded
Placed in Service	June 2012	
Useful Life	30	
Replacement Year	2041	
Remaining Life	25	

This structure does not have a published predictabel useful life or replacement cost.

Asphalt Seal Coat - Parking Lot

5,700 SY

@ $1.05

Operation Budget Funded
Placed in Service	June 2012	
Useful Life	5	
Replacement Year	2016	
Remaining Life	0	

Mill and overlay with 1 1/2" asphalt.

Asset Cost	$5,985.00
Percent Replacement	100%
Future Cost	$5,985.00

Brick Paver Reset Allowance

1 Lump Sum	@ $10,000.00	
Asset Cost	$10,000.00	
Percent Replacement	100%	
Future Cost	$15,579.67	

Operation Budget Funded
Placed in Service	June 2012	
Useful Life	20	
Replacement Year	2031	
Remaining Life	15	

Carpet - Meeting Room

36 SY

@ $30.00

Operation Budget Funded
Placed in Service	June 2012	
Useful Life	12	
Replacement Year	2023	
Remaining Life	7	

Operation Budget Funded

Asset Cost	$1,080.00
Percent Replacement	100%

Future Cost	$1,328.26

Ceiling Fans - Exterior

13 EA

@ $250.00

Asset Cost	$3,250.00
Percent Replacement	100%
Future Cost	$4,498.76

Placed in Service	June 2012	
Useful Life	16	
Replacement Year	2027	
Remaining Life	11	

Ceiling Fans - Interior

7 EA

@ $325.00

Operation Budget Funded
Placed in Service	June 2012	
Useful Life	15	
Replacement Year	2026	
Remaining Life	10	

Operation Budget Funded

Asset Cost	$2,275.00
Percent Replacement	100%
Future Cost	$3,057.41

Ceiling Fans - Pool Pavilion

3 EA

@ $275.00

Asset Cost	$825.00
Percent Replacement	100%
Future Cost	$956.40

Placed in Service	June 2012	
Useful Life	10	
Replacement Year	2021	
Remaining Life	5	

Climber

Coach Lights

	1 Each	@ $2,800.00	
	Asset Cost	$2,800.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$4,362.31	

Placed in Service	June 2012	
Useful Life	20	
Replacement Year	2031	
Remaining Life	15	

	17 EA	@ $200.00	
	Asset Cost	$3,400.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$6,140.78	

Placed in Service	June 2012	
Useful Life	25	
Replacement Year	2036	
Remaining Life	20	

Drinking Fountain

1 Each

@ $3,000.00

Operation Budget Funded
Placed in Service	June 2012	
Useful Life	25	
Replacement Year	2036	
Remaining Life	20	

Operation Budget Funded

Asset Cost	$3,000.00
Percent Replacement	100%

Future Cost	$5,418.33

Dumpster Enclosure Gates

2 Each

@ $1,200.00

Asset Cost	$2,400.00
Percent Replacement	100%
Future Cost	$3,524.48

Placed in Service	June 2012	
Useful Life	18	
Replacement Year	2029	
Remaining Life	13	

Exterior Painting

Operation Budget Funded

1 Lump Sum	@ $1,500.00 Asset Cost		$1,500.00
Percent Replacement	100%
Future Cost	$2,015.87

Placed in Service	June 2012	
Useful Life	10	
Adjustment	5	
Replacement Year	2026	
Remaining Life	10	

Exterior Painting - Main Steet

1 Lump Sum

@ $3,200.00

Operation Budget Funded

Asset Cost	$3,200.00
Percent Replacement	100%
Future Cost	$4,300.53

Placed in Service	June 2012	
Useful Life	10	
Adjustment	5	
Replacement Year	2026	
Remaining Life	10	

Exterior Painting - Maintenance Buiding

2,000 SF

@ $1.05

Operation Budget Funded
Placed in Service	June 2012	
Useful Life	10	
Adjustment	5	
Replacement Year	2026	
Remaining Life	10	

Operation Budget Funded

Asset Cost	$2,100.00
Percent Replacement	100%

Future Cost	$2,822.22

Exterior Painting - Narrow Leaf

1 Lump Sum

@ $1,500.00

Asset Cost	$1,500.00
Percent Replacement	100%
Future Cost	$2,015.87

Placed in Service	June 2012	
Useful Life	10	
Adjustment	5	
Replacement Year	2026	
Remaining Life	10	

Exterior Painting - Sapelo Street

1 Lump Sum

@ $2,500.00

Operation Budget Funded
Placed in Service	June 2012	
Useful Life	10	
Adjustment	5	
Replacement Year	2026	
Remaining Life	10	

Operation Budget Funded

Asset Cost	$2,500.00
Percent Replacement	100%

Future Cost	$3,359.79

Exterior Painting - Waterfront Drive

1 Boxes

@ $2,500.00

Asset Cost	$2,500.00
Percent Replacement	100%
Future Cost	$3,359.79

Placed in Service	June 2012	
Useful Life	10	
Adjustment	5	
Replacement Year	2026	
Remaining Life	10	

Exterior Painting - Wood Siding

1 Lump Sum

@ $4,000.00

Operation Budget Funded
Placed in Service	June 2012	
Useful Life	8	
Adjustment	-3	
Replacement Year	2016	
Remaining Life	0	

Operation Budget Funded
Placed in Service	June 2012	
Useful Life	20	
Replacement Year	2031	
Remaining Life	15	

IFP-100 Silent Knight Panel

Asset Cost	$4,000.00
Percent Replacement	100%

Future Cost	$4,000.00

Fire Alarm Panel

1 EA

@ $2,100.00

Asset Cost	$2,100.00
Percent Replacement	100%
Future Cost	$3,271.73

Floor Refinishing - Group Fitness

900 Square Feet

@ $3.20

Operation Budget Funded

Asset Cost	$2,880.00
Percent Replacement	100%
Future Cost	$3,870.48

Placed in Service	June 2012	
Useful Life	15	
Replacement Year	2026	
Remaining Life	10	

Gas Grill

	1 Each	@ $2,000.00	
	Asset Cost	$2,000.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$2,459.75	

Placed in Service	June 2012	
Useful Life	12	
Replacement Year	2023	
Remaining Life	7	

Geo Dome Climber

Operation Budget Funded

1 Each	@ $3,500.00 Asset Cost		$3,500.00
Percent Replacement	100%
Future Cost	$4,703.71

Placed in Service	June 2012	
Useful Life	15	
Replacement Year	2026	
Remaining Life	10	

Irrigation Allowance - 2 Year Cycle

	1 Lump Sum	@ $5,000.00	
	Asset Cost	$5,000.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$5,150.00	
Placed in Service	September 2016	
Useful Life	2	
Replacement Year	2017	
Remaining Life	1	

Landscape Allowance - 5 Year Cycle

	1 Lump Sum	@ $5,000.00	
	Asset Cost	$5,000.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$5,627.54	
Placed in Service	June 2016	
Useful Life	5	
Replacement Year	2020	
Remaining Life	4	

	1 EA	@ $1,200.00	
	Asset Cost	$1,200.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$1,612.70	

Placed in Service	June 2012	
Useful Life	15	
Replacement Year	2026	
Remaining Life	10	

Kitchenaid Microwave KCMS2055SSS-2 Brew Express Coffee Station

Monument Sign Refurbishment

Operation Budget Funded Placed in Service	June 2012
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Microwave

Park Bench

Park Benches

	1 Each	@ $1,500.00	
	Asset Cost	$1,500.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$2,202.80	

Placed in Service	June 2012	
Useful Life	18	
Replacement Year	2029	
Remaining Life	13	

	5 Each	@ $1,500.00	
	Asset Cost	$7,500.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$11,014.00	

Placed in Service	June 2012	
Useful Life	18	
Replacement Year	2029	
Remaining Life	13	

Patio Furniture Allowance

1 LS

@ $3,000.00

Operation Budget Funded

Asset Cost	$3,000.00
Percent Replacement	100%
Future Cost	$3,477.82

Placed in Service	June 2012	
Useful Life	10	
Replacement Year	2021	
Remaining Life	5	

Tables 12
Chairs 48

Patio Furniture Allowance - 3 Year Cycle

1 LS

@ $3,000.00

Operation Budget Funded

Asset Cost	$3,000.00
Percent Replacement	100%
Future Cost	$3,278.18

Placed in Service	October 2016	
Useful Life	3	
Adjustment	3	
Replacement Year	2019	
Remaining Life	3	

Tables 8
Chairs 25

Patio Furniture Allowance - 3 Year Cycle continued...

Pavilion Furniture Allowance

1 LS

@ $3,000.00

Operation Budget Funded

Asset Cost	$3,000.00
Percent Replacement	100%
Future Cost	$3,278.18

Placed in Service	October 2016	
Useful Life	3	
Adjustment	3	
Replacement Year	2019	
Remaining Life	3	

Tables 9
Chairs 36

Pergola Repair & Painting

600 SF

@ $4.20

Operation Budget Funded
Placed in Service	June 2012	
Useful Life	15	
Replacement Year	2026	
Remaining Life	10	

Pool Deck Paver Reset Allowance

Operation Budget Funded

Asset Cost	$2,520.00
Percent Replacement	100%
Future Cost	$3,386.67

1 Lump Sum	@ $10,000.00	
Asset Cost	$10,000.00	
Percent Replacement	100%	
Future Cost	$15,579.67	

Placed in Service	June 2012	
Useful Life	20	
Replacement Year	2031	
Remaining Life	15	

Pool Pumps & Equipment

1 LS

@ $5,000.00

Operation Budget Funded

Asset Cost	$5,000.00
Percent Replacement	100%
Future Cost	$5,150.00

Placed in Service	October 2016	
Useful Life	1	
Adjustment	1	
Replacement Year	2017	
Remaining Life	1	

Pumps and equipment do not have a predictable useful life. We have included an annual replacement allowance. This should be monitored and adjusted as needed.

Pool Slide Frame - Painting

1 LS

@ $3,500.00

Operation Budget Funded

Asset Cost	$3,500.00
Percent Replacement	100%
Future Cost	$3,824.54

Placed in Service	October 2016	
Useful Life	3	
Adjustment	3	
Replacement Year	2019	
Remaining Life	3	

Pool Slide Frame - Painting continued...

Porch Furniture Allowance

1 LS

@ $2,000.00

Operation Budget Funded

Asset Cost	$2,000.00
Percent Replacement	100%
Future Cost	$2,318.55

Placed in Service	June 2012	
Useful Life	10	
Replacement Year	2021	
Remaining Life	5	

Chairs	10	
Ottomans	5	
Tables	5	

	1 EA	@ $3,100.00	
	Asset Cost	$3,100.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$4,166.14	

Placed in Service	June 2012	
Useful Life	15	
Replacement Year	2026	
Remaining Life	10	

Kitchen Aid KBR 036TFX04

Security Camera Allowance

1 Lump Sum

@ $2,000.00

Operation Budget Funded

Asset Cost	$2,000.00
Percent Replacement	100%
Future Cost	$2,185.45

Placed in Service	June 2012	
Useful Life	8	
Replacement Year	2019	
Remaining Life	3	

Refrigerator

Shredded Rubber Play Surface Replenishment

Operation Budget Funded Placed in Service	June 2012
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Single Post Swing - 2 Bay

1 Each

@ $3,000.00

Operation Budget Funded

Asset Cost	$3,000.00
Percent Replacement	100%
Future Cost	$4,031.75

Placed in Service	June 2012	
Useful Life	15	
Replacement Year	2026	
Remaining Life	10	

Single Post Swing - One Bay

1 Each

@ $2,000.00

Operation Budget Funded
Placed in Service	June 2012	
Useful Life	15	
Replacement Year	2026	
Remaining Life	10	

Operation Budget Funded

Asset Cost	$2,000.00
Percent Replacement	100%

Future Cost	$2,687.83

Standing Seam Metal Roof

800 SF

@ $4.50

Asset Cost	$3,600.00
Percent Replacement	100%
Future Cost	$8,738.14

Placed in Service	June 2012	
Useful Life	35	
Replacement Year	2046	
Remaining Life	30	

Standing Seam Roof

Operation Budget Funded

500 Square Feet	@ $6.50
Asset Cost	$3,250.00
Percent Replacement	100%
Future Cost	$7,888.60

Placed in Service	June 2012	
Useful Life	35	
Replacement Year	2046	
Remaining Life	30	

Standing Seam Roof - Community Garden

	300 Square Feet	@ $6.50	
	Asset Cost	$1,950.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$4,733.16	
Placed in Service	June 2012	
Useful Life	35	
Replacement Year	2046	
Remaining Life	30	

Standing Seam Roof - Main Street

600 Square Feet

@ $4.50

Operation Budget Funded

Asset Cost	$2,700.00
Percent Replacement	100%
Future Cost	$6,553.61

Placed in Service	June 2012	
Useful Life	35	
Replacement Year	2046	
Remaining Life	30	

Standing Seam Roof - Narrow Leaf

	300 Square Feet	@ $4.50	
	Asset Cost	$1,350.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$3,276.80	
Placed in Service	June 2012	
Useful Life	35	
Replacement Year	2046	
Remaining Life	30	

Standing Seam Roof - Sapelo Street

	500 Square Feet	@ $4.50	
	Asset Cost	$2,250.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$5,461.34	
Placed in Service	June 2012	
Useful Life	35	
Replacement Year	2046	
Remaining Life	30	

Standing Seam Roof - Waterfront Drive

	400 Square Feet	@ $4.50	
	Asset Cost	$1,800.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$4,369.07	
Placed in Service	June 2012	
Useful Life	35	
Replacement Year	2046	
Remaining Life	30	

Steel Trash Can

Operation Budget Funded

1 Each	@ $1,000.00 Asset Cost		$1,000.00
Percent Replacement	100%
Future Cost	$1,159.27

Placed in Service	June 2012	
Useful Life	10	
Replacement Year	2021	
Remaining Life	5	

Stone Top

	12 Linear Feet	@ $200.00	
	Asset Cost	$2,400.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$5,025.07	

Placed in Service	June 2012	
Useful Life	30	
Replacement Year	2041	
Remaining Life	25	

	175 Each	@ $600.00	
	Asset Cost	$105,000.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$189,641.68	

Placed in Service	June 2012	
Useful Life	25	
Replacement Year	2036	
Remaining Life	20	

We assume this component will be replaced as needed.

Tennis Court Replenishment

4 Each

@ $2,200.00

Operation Budget Funded

Asset Cost	$8,800.00
Percent Replacement	100%
Future Cost	$9,064.00

Placed in Service	June 2012	
Useful Life	4	
Adjustment	2	
Replacement Year	2017	
Remaining Life	1	

Street Signage

Wall Coverning - Restrooms

1,494 Square Feet

@ $2.60

Operation Budget Funded

Asset Cost	$3,884.40
Percent Replacement	100%
Future Cost	$5,220.31

Placed in Service	June 2012	
Useful Life	15	
Replacement Year	2026	
Remaining Life	10	

Water Cooler

	1 EA	@ $2,200.00	
	Asset Cost	$2,200.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$3,427.53	

Placed in Service	June 2012	
Useful Life	20	
Replacement Year	2031	
Remaining Life	15	

	2 EA	@ $900.00	
	Asset Cost	$1,800.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$2,213.77	

Placed in Service	June 2012	
Useful Life	12	
Replacement Year	2023	
Remaining Life	7	

Water Heater

Operation Budget Funded Placed in Service	June 2012
No Useful Life

Asset Cost
Percent Replacement	100% Future Cost

Water Coolers

Window Treatment Replacement Allowance

	1 LS	@ $3,000.00	
	Asset Cost	$3,000.00	
	Percent Replacement	100%	
Operation Budget Funded	Future Cost	$4,673.90	
Placed in Service	June 2012	
Useful Life	20	
Replacement Year	2031	
Remaining Life	15	

6 Pair

Wood Ceiling & Trim Painting

1,200 SF

@ $1.65

Operation Budget Funded

Asset Cost	$1,980.00
Percent Replacement	100%
Future Cost	$2,295.36

Placed in Service	June 2012	
Useful Life	10	
Replacement Year	2021	
Remaining Life	5	

Wood Floor Refinishing - Club Room

2,800 SF

@ $2.50

Operation Budget Funded

Asset Cost	$7,000.00
Percent Replacement	100%
Future Cost	$12,642.78

Placed in Service	June 2012	
Useful Life	25	
Replacement Year	2036	
Remaining Life	20	

Operation Budget Funded - Total Current Cost	$0

The Current Assessment Funding Model is based on the current annual assessment, parameters, and reserve fund balance. Because it is calculated using the current annual assessment, it will give the accurate projection of how well the association is funded for the next 30 years of planned reserve expenditures.

Types of Reserve Studies
Full Reserve Study (Level I)
Update with site inspection (Level II) Update without site inspection (Level III)
In a Full Reserve Study, the reserve provider conducts a component inventory, a condition assessment (based upon on-site visual observations), and life and valuation estimates to determine both a “fund status” and “funding plan”.
In an Update with site inspection, the reserve provider conducts a component inventory (verification only, not quantification unless new components have been added to the inventory), a condition assessment (based upon on-site visual observations), and life and valuation estimates to determine both the “fund status and “funding plan.”
In an Update without site inspection, the reserve provider conducts life and valuation estimates to determine the “fund status” and “funding plan.”

Physical and Financial Analysis
There are two components of a reserve study: a physical analysis and a financial analysis. Physical Analysis
During the physical analysis, a reserve study provider evaluates information regarding the physical status and repair/replacement cost of the community’s major common area components. To do so, the provider conducts a component inventory, a condition assessment, and life and valuation estimate and prepares a list of components which will be included in the study. No destructive testing is conducted.
Financial Analysis
The financial analysis assesses the community’s reserve balance or “fund status” (measured in cash or as percent fully funded) to determine a recommendation for the appropriate reserve contribution rate in the future, known as the “funding plan”.

Preparing the Reserve Study
Once the reserve assets have been identified and quantified, their respective replacement costs, useful lives and remaining lives must be assigned so that a funding schedule can be constructed. Replacement costs and useful lives can be found in published manuals such as construction estimators, appraisal handbooks, and valuation guides. Remaining lives are calculated from the useful lives and ages of assets and adjusted according to conditions such as design, manufactured quality, usage, exposure to the elements and maintenance history.
By following the recommendations of an effective reserve study, the community/religious organizations should avoid any major shortfalls. However, to remain accurate, the report should be updated on an annual basis to reflect such changes as shifts in economic parameters, additions of phases or assets, or expenditures of reserve funds.

From the simplest to the most complex, reserve analysis providers use many different computational processes to calculate reserve requirements. However, there are two basic processes identified as industry standards: the Cash Flow Method and the Component Method.
The Cash Flow Method develops 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 actual anticipated schedule of reserve expenses until the desired funding goal is achieved. The Threshold and the Current Assessment funding models are based upon the cash flow method.
The Component Method develops a reserve-funding plan where the total contribution is based upon the sum of contributions for individual components. The component method is the more conservative of the two funding options, and assures that the community/religious organization will achieve and maintain an ideal level of reserves over time

Funding Strategies
Once a community has established its funding goals, they can select an appropriate funding plan. Communities will have to update their reserve studies more or less frequently depending on the funding strategy they select.
Full Funding---Each year a portion of the replacement cost is contributed to reserves to provide adequate funds when a component is replaced. This is the safest method.
Baseline Funding---This Goal keeps the reserve balance above zero. With this low funding level special assessments and deferred maintenance are common.
Threshold Funding---Reserves are maintained at a predetermined funding level or dollar amount. Statutory Funding---This method is based on local statutes.

Funding Models Used
Threshold Funding Model. This method is based upon the cash flow funding concept. The minimum reserve cash balance in threshold funding, however, is set at a predetermined dollar amount (other than
$0).
Current Assessment Funding Model. This method is also based upon the cash flow funding concept. The initial reserve assessment is set at the community’s current fiscal year funding level and a 30-year projection is calculated to illustrate the adequacy of the current funding over time.
Component Funding Model. This is a straight-line funding model. It distributes the cash reserves to individual reserve components and then calculates what the reserve assessment and interest contribution should be, again by each reserve component. The current annual assessment is then determined by summing all the individual component assessments, hence the name “Component Funding Model”. This is the most conservative funding model.

General Information & Conditions

This document has been provided pursuant to an agreement containing restrictions on its use. No part of this document may be copied or distributed, in any form or by any means, nor disclosed to third parties without the expressed written permission of Community Advisors, LLC.
This reserve analysis study and the parameters under which it has been completed are based upon information provided to us in part by representatives of the Community Association, Management Company, Community Development District and its contractors, assorted vendors, specialist and independent contractors, the Community Association’s Institute, and various construction pricing and scheduling manuals including, but not limited to: Marshall & Swift Valuation Service, RS Means Building Construction Cost Data and from numerous vendor catalogues, actual quotations or historical costs, and our own experience in the field of property management and reserve study preparation. Any Reserve Study Updates assume quantities are accurate.
No liability is assumed as the result of changing market prices or inaccurate estimates or projections of remaining useful life of components. We are not responsible for any hidden defects or determining the condition of hidden or underground components or systems. Observing environmental conditions, hazardous materials or determine compliance with building codes or ADA regulations is not included in our scope of work.
Community Advisors, LLC will not be required to participate in any legal action conducted on a property for whatever reason and shall also not be required to give testimony in depositions or in court. In all cases the liability of any action taken by Community Advisors, LLC and its Principals, Employees, contractors and Vendors shall be limited to the consulting fee agreed upon for the production of this report.
All measurements taken are general and approximant and estimates of both quantity and remaining useful life are submitted as an opinion by the producer of this report. The scope of work as contracted for by the client does not include roof-top inspections or roof-top measurements unless noted in the proposal. Some component quantities are determined by use of available internet based maps and images and their measurement tools. We also from time to time utilize aerial imaging services to provide roof area measurements for one building in a multiple building complex. We then use this estimated quantity to calculate the roof area of the other buildings based on the number of living units in that building. Actual quantities may vary from building to building and a more accurate measurement can be taken if requested and at the additional expense to the client.
This reserve study is a reflection of the information provided by this client and assembled for their use and not for the purposes of performing an audit, quality or forensic analyses, or background checks of historical records. This information should not be used to estimate construction projects or relied upon for replacement cost until current vendor pricing has been obtained. We assume all components have been maintained properly unless noted in this report and our remaining useful life projections assume they will be maintained per normal operating standards. Replacement cost does not include any Engineering or Architectural fees unless noted in the study. Beginning fund balances are unaudited and provided by the Association or Manager. Unless noted in the report we assume the funding goal of the Association is to reserve adequate funds for future capital replacements if they are pooling their reserves and fully funding reserves if they are using the Component Method of funding.
It has been assumed, unless otherwise noted in this report, that all assets have been designed and constructed properly and that each estimated useful life will approximate that of the norm per industry standards and/or manufacturer’s specifications. In some cases, estimates may have been used on assets,

which have an indeterminable but potential liability to the Association or Community Development District. The decision for the inclusion of these as well as all assets considered is left to the client.

We recommend that your reserve analysis study be updated on an annual basis due to fluctuating interest rates, inflationary changes, and the unpredictable nature of the lives of many of the assets under consideration. All of the information collected during our inspection of the property and computations made subsequently in preparing this reserve analysis study are retained in our computer files. Therefore, annual updates may be completed quickly and inexpensively each year.
Use of this report is acceptance by the Client of the above Information and Conditions.

Company Profile
The site inspection and preparation of this reserve study report were supervised by Mr. Charles R. Sheppard who has over 30 years of experience in real estate development, property operation and construction and he holds a Certified General Contractor License and a Certified Home Inspector License in the state of Florida. Mr. Sheppard is a graduate of Virginia Polytechnic Institute & State University in Blacksburg, Virginia where he earned a BS degree.
Mr. Sheppard has earned the Reserve Specialist, (RS) designation from the Community Association’s Institute, (CAI). Mr. Sheppard is a member of the Jacksonville Metro chapter of CAI and the Southeast Virginia Chapter. Community Advisors is also a member of the Association of Professional Reserve Analyst, (APRA) and Mr. Sheppard has earned the designation of Professional Reserve Analyst, (PRA).
Community Advisors has completed this Reserve Study at the request of the Management Company, Board Member or Facility Manager and does not have any involvement with this client except to produce this Reserve Study.

Reserve Terms Dictionary
Accumulated Reserve Balance: The anticipated reserve balance on the first day of the fiscal year for which the report has been prepared.
Net Monthly Allocation: The sum of the monthly assessment and interest contribution figures.
Annual Assessment increase: The percentage rate at which the association will increase its assessment to reserves at the end of each year until the year in which the asset is replaced. For example, in order to accumulate $10,000 in 10 years, you set aside $1,000 per year. As an alternative, you could set aside
$795 the first year and increase that amount by 5% each year until year of replacement. In either case you arrive at the same amount. The idea is that you start setting aside a lower amount and increase that number each year in accordance with the planned percentage. Ideally this should be equal to the rate of inflation. It can, however, be used to aid those associations who have not set aside appropriate reserves in the past by making the initial year's allocation less formidable.
Investment Yield: The average interest rate anticipated by the association based upon their current investment practices.
Budget year beginning/ending (fiscal): the budgetary year for which the report is prepared. For associations with fiscal years ending December 31, the monthly assessment figures indicated are for the 12 month period beginning 1/1/0X and ending 12/31/0X.
Monthly Assessment: The assessment for reserves required by the association each month.
Interest Contribution: The interest that should be earned on the reserves, net of taxes, based upon their beginning reserve balance and monthly assessments for one year. This figure is averaged for budgeting purposes.
Threshold Funding Model: This analysis calculates the minimum reserve assessments, with the restriction that the reserve balance is not allowed to go below $0 or other predetermined threshold, during the period of time examined. All funds for planned reserve expenditures will be available on the first day of each fiscal year. The Threshold Funding Model allows the client to choose the level of conservative funding it desires by choosing the threshold dollar amount.
Current Assessment Funding Model: This analysis is based on the current annual assessment, parameters, and reserve fund balance. Because It is calculated using the current annual assessment, it will give an accurate projection of how well the association is funded for the next 30 years of planned reserve expenditures.
Component Funding Model: This funding model’s long-term objective is to provide a plan to a fully funded reserve position over the longest period of time practical. This is the most conservative funding model.
Fixed Accumulated Reserves: An optional figure which, if used, will override all calculations and set the assessment at this amount.
Percentage of Replacement: In some cases, an asset may not be replaced in its entirety or the cost may be shared with a second party. Examples are budgeting for a percentage of replacement of streets over a period of time, or sharing the expense to replace a common wall with a neighboring party.

Placed in Service Date: The month and year that the asset was placed in service. This may be the construction date, the first escrow closure date in a given phase, or the date of the last servicing or replacement.
Future Replacement Cost: The estimated cost to repair or replace the asset at the end of its estimated useful life based upon the current replacement cost and inflation.
Taxes on Yield: The estimated percentage of interest income which will be set aside for taxes.
Replacement Year: The year that the asset is scheduled to be replaced. The appropriate funds will be available by the first day of the fiscal year for which replacement is anticipated.
Estimated Remaining Life: This calculation is completed internally based upon the report's fiscal year date and the date the asset was placed in service.
Adjustment to Useful Life: Once the useful life is determined, it may be adjusted +/- by this separate figure for the current cycle of replacement. This will allow for a current period adjustment without affecting the estimate replacement cycles for future replacements.
Estimated Useful Life: The estimated useful life of an asset based upon industry standards, manufacturer specification, visual inspection, location, usage, association standards and prior history. All of these factors are taken into consideration when tailoring the estimated useful life to the particular asset. For example, the carpeting in a hallway or elevator (a heavy traffic area) will not have the same life as the identical carpeting in a seldom used meeting room or office.
Salvage Value: This term defined estimates the salvage value of the asset at the time of replacement, if applicable.
One Time Replacement: Notation if the asset is to be replaced on a one-time basis. Current Replacement Cost: The estimated replacement cost effects as of the beginning of the fiscal year for which the report is being prepared.