DRAFT ISSUED: 8/22/2017 MANAGER REVIEW: 8/23/2017 FINAL REPORT ISSUED: 12/4/2017
2025 E. Main Street REVISION/UPDATE ISSUED:Suite 218 Richmond, Va. 23223 804-644-6404 STUDY LEVEL: 2 dma-va.com
CROSSROADS FARM AMENITIES ROCKINGHAM COUNTY, VIRGINIA
Copyright © 2016 DMA, Inc. DMA does not support the validity of this report until a Working Session has been conducted with the Board of Directors and the final report issued.
INTERACTIVE RESERVE ANALYSIS
Page No. 1
STANDARDS, LIMITATIONS AND LEGAL INFORMATION 3
EXECUTIVE SUMMARY 5
RESERVE FUNDING NAVIGATOR 7
EXPENDITURE SUMMARY 8
CASH FLOW SPREADSHEETS 23
ASSESSMENT ALLOCATION 29
SCHEDULE OF COMPONENTS 30
ESCALATION CALCULATIONS 32
APPENDIX 33Includes several articles that explain how DMA's analyses work, how we estimate costs and useful life, and how we project the inflation rates. Also includes CAI National Reserve Study Standards and an explanation of maintenance and updating of this analysis.
CROSSROADS FARM AMENITIES TABLE OF CONTENTS
This is a printout of a dynamic reserve analysis that will change over time. The analysis is made up of information sheets and spreadsheets, whosecontents may change each time the analysis is updated. If comparing this report to other copies, verify the latest issue date on the front cover.Summary descriptions of the spreadsheets are provided below. Some spreadsheets, which are continuous in Excel, are divided up into severalpages in this report for legibility.
The projected reserve account contributions for the next five years are broken down to an average cost per unit owner. An optional calculation is provided to show the operating fund allocation and total assessment allocation as well.
A complete listing of the community's assets included in the reserve account. This includes common area assets and may include limited common area assets. See "Scope of Reserves" in the Executive Summary for a list of inclusions or exclusions as appropriate.
A list of historic cost indices based on R.S. Means
A spreadsheet divided into 6 pages showing the cash flow funding plan over 30 years. The total budgeted expenditures for each year, from the Expenditure Summary chart, are converted to future dollars on this sheet when an inflation rate has been introduced.
Contains Community Associations Institute (CAI) National Standards, limitations and legal restrictions on the use of information in this document and legal disclosures.
Contains information on DMA personnel responsible for this analysis, community information and a summary of current financial information and funding plan information as of this issue date.
This graph illustrates the reserve funding plan over the next 30 years. It shows the inflation rate used in the analysis as well as the contribution escalation rate required to fully fund the plan.
This multi-page chart shows the reserve replacement projects budgeted for completion in each year of the 30-year study. Note: all costs in this chart are shown in current dollars.
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STANDARDS, LIMITATIONS AND CONDITIONS DISCLOSURE AND LEGAL RESTRICTIONS
STUDY STANDARDS
This study was conducted in accordance with the Community Associations Institute National Reserve Study Standards. A summary of the standards is containedin our information article entitled “National Standards” which is included in the Appendix.
The data and analysis information that forms a part of this report was formatted in Microsoft Excel but contains proprietary programming and program coding thatis not available for distribution to outside parties. Copies of the data and analysis information have been made available in Adobe's Portable Document Formatand included as part of this report. Limited program versions can also be provided, upon request, in Excel format for easier viewing and navigating through thedata.
STUDY LIMITATIONS AND CONDITIONS
1. No destructive testing, lab analysis or other investigative methods were used to determine the condition of the components. Due to these limitations, as setforth in the reserve study guidelines that we subscribe to, the limited visual observations that were made are not sufficient to be considered a qualifiedarchitectural or engineering assessment of the state or condition of the components.
2. All common areas on the property were observed unless access was limited or not made available to us at the time of the inspection. The observations andopinions expressed herein with regard to the useful life of the components are based on our general professional knowledge of construction and our knowledgeof the typical replacement experience of many communities and other entities with the same component types.
3. The inventory included taking field measurements, measurements from aerial and satellite imagery, digitized measurement over photo imagery and takeoffsand measurements from design and as-built drawings as there were deemed to be reliable. In the case of a Level II Update the quantities provided by the Clientfrom previous studies was utilized when it was deemed to be reliable and accurate. In the case of a Level III Update all inventory data from previous studiesprovided by the Client was deemed accurate and reliable.
4. Our projections of remaining useful life are not architectural or engineering recommendations for executing specific projects. As the end of the remaininguseful life approaches, as set forth in this study, the association should seek professional architectural, engineering, contractor, service providers or qualifiedproduct manufacturer or supplier assistance, as appropriate, and as to the need for and the scheduling of each specific replacement project. Particularly those ofany significant magnitude.
5. An asset can be made up of several components that need to be maintained, repaired and replaced. Other elements of the asset may be consideredpermanent with respect to the asset. The schedule of components provided herein, is based upon information received from the client regarding the commonelements and/or assets that the client is responsible for. It is the client's responsibility to verify that the schedule of components is complete.
6. Financial information including the present fund balance, interest from funds on deposit, and recent capital expenditures, were provided by the Associationand are deemed reliable and complete by Design/Management Associates, Inc.
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7. Information provided by the Association about prior reserve replacement projects is considered to be reliable and complete. No inspection byDesign/Management Associates, Inc. should be interpreted as a project audit or quality inspection.
8. Industry Life Expectancy is based on printed product literature, product or material warranties, industry standards literature, and on the opinions ofmanufacturers, installers, or maintenance contractors based on their experience with these products and materials.
9. Unit prices are based on published unit price standards such as R. S. Means "Residential Cost Data", Facilities Maintenance and Repair Cost Data, and"Facilities Construction Cost Data", latest editions, and on pricing obtained from contractors, installers, or manufacturers. All prices are given in present dollarsunless noted otherwise. Prices listed are not guaranteed as exact quotes for work included.
10. This analysis incorporates assumptions about the future rate of inflation, and the future interest income on your account deposits. If significant changesoccur in either of these rates, this calculation should be re-run with current information.
11. The results of this analysis are predicated on your contributing the recommended amount in each previous year and on expenses occurring generally aspredicted. The Reserve Study should be updated at least every 3 to 5 years, which may depend on statutory requirements, to correct for normal variations.However if significant changes occur in your present funding or in major expenses, in a shorter period of time, the account should be re-run.
12. DMA’s Capital Replacement Reserve Studies are designed to be used as planning tools. They are a reflection of information provided by the Association andour analytical inputs, and are assembled for the Association’s use. This reserve study should not be used for the purpose of performing an audit, quality/forensicanalysis, or for background checks of historical records.
DISCLOSUREDMA does not have any financial interest in this community, its management company or any vendor mentioned or used in this study beyond this work. Thisstudy represents all facts know to DMA at the time of it's preparation that if purposefully omitted would cause a distortion of the Association's situation regardingit's capital reserve plan.
LEGAL RESTRICTIONS ON USE OF THIS INFORMATIONOwnership of Reports, Electronic Files, Data, Media, Software Programs and Other Related Materials: Reports, electronic files, data, media, softwareprograms and other related materials are instruments of professional service. Therefore, the aforementioned are considered the intellectual property of DMA andshall remain the exclusive property of DMA and, where appropriate, shall be protected and copyrighted under the laws of the United States with all rightsreserved. The Client and the Property Manager (Client’s authorized representative or agent) are the only entities entitled to use these documents and only inconnection with this project. Distribution of these documents and any electronic files, data, media, software programs, written and electronic communications,and other related materials produced by DMA relative to this project, and in accordance with the provisions of the Agreement, to ANY THIRD PARTIES is strictlyprohibited without the express written consent of DMA.
Use of Electronic Files, Media, Software and Programs: DMA may transmit these documents as electronic files. DMA shall not be responsible for anyviruses that may be transmitted with the electronic files, media, software or programs furnished to the Client. DMA shall not be responsible for any data erosion,erasure, alteration or failure of electronic files, media, software or programs that may occur at the time of transmission or over time. DMA makes no warranty asto the compatibility of the electronic files, media, software or programs with any operating system or programs.
Acceptance and Agreement: By accepting these documents I hereby acknowledge that I have read and understood the Legal Restrictions On Use of ThisInformation set forth above and that as a duly authorized representative or agent of the Client, represent that the Client agrees to accept and abide by the same.
Page No. 4
The cost estimating data was prepared by:
COMMUNITY INFORMATION
Association Name:
Community Location / Address:
Community Size (Number of Units):
Unit Type(s):
Management:
Represented by:
Telephone and E-mail:
Year(s) constructed:
Scope of Reserves:
Crossroads Farm Property Owners Association
67 Cross Keys Road, Harrisonburg, VA 22801
221
Single Family
2002
EXECUTIVE SUMMARY CROSSROADS FARM AMENITIES
RESERVE SPECIALIST AND STAFF RESPONSIBLE FOR THIS ANALYSIS
This study and field survey, inventory and condition assessmetn was conducted and prepared under the direct supervision of:
Tim R. Gebott, who has over 40 years construction contract estimating and programming experience. Mr. Gebott holds a BS degree in Civil Engineering.
The Crossroads Farm amenities, are located at the community entrance and at the community park on Frederick Road. The golf course is owned by a separate country club. The private roads are covered by a separate reserve account. The asphalt pavement (Park Walkways) are free-form walkways that run through the park. The asphalt pavement is 2" - 4" thick and set on a 4" - 8" stone base. There are two seating areas in the park that have low retaining walls set into the grade to provide seating. The walls are constructed of concrete block on concrete footings, and faced with thin-set stone. The entrance sign is supported on a stone and CMU wall, 46' x 2'-8" high. Crossroads Farm Sign are raised metal letters that say “CROSSROADS FARM”. The irrigation system is operated by electro-mechanical “controllers” which phase the usage of different branches of the system so that water demand and quantity of output at each location are controlled. The irrigation system itself is not included in the reserve account due to heavy on-going maintenance. Entrance Rail Fencing is a rail-and-cross buck style fence in white vinyl, and runs along the front of the community on either side of the entrance, and along the entrance road into the community. Signs include street name signs, stop signs, and a few other traffic signs.
CROSSROADS FARM AMENITIES
Old Dominion Realty
Ms. Betty Reese, CMCA, AMS
540-433-2454 xt 1005 [email protected]
Lynette Wuensch, a Reserve Specialist certified by the Community Association Institute and a registered Professional Engineer in Virginia, Florida and North Carolina. Ms. Wuensch holds a BS degree in Environmental Engineering.
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Page No. 5
0.10%$27,794 as of 7/31/2017
$0$27,794 as of 7/31/2017
$2,949 for 2017$2,949$2,949
2.41%0.00%
Amount Year$2,949.00 2018$2,949.00 2019$2,949.00 2020$2,949.00 2021
COMMENTS:
Balance on account:Less contributions already made this year:Plus expenditures already made and/or scheduled:Money held in investment accounts:Total balance:
CASH FLOW FUNDING MODEL (current as of the latest date on the cover of this report):
Reserve Account Contribution in Study Year:Current budgeted contribution for study year:Recommended contribution for study year from Reserve Funding Navigator worksheet:Remaining contribution to be made for study year:
Reserve Funding Projections for next Four Years (from Reserve Funding Navigator):
The projected inflation rate used in this printout is:The projected annual contribution escalation rate in this printout is:
Projected Inflation and Escalation Rates (from Reserve Funding Navigator):
Current Reserve Account Balance Information:Average annual income rate on reserve deposit accounts:
FINANCIAL SUMMARY
Page No. 6
2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046
years Annual escalation to the contribution per year, if any:per year
Threshold Balance to be Maintained in Account: Annual Contribution in Year:A selected minimum balance of: OR Current 2017Total of the next 30 years of expenditures, times: 50 Recommended 2018
Adopted 201920202021
The graph is called a "navigator" because the funding model can be adjusted from here to react to varying inflation rates, interest rates, actual adjusted accountbalances, and variations in reserve expenditures and project schedules based on your community's actual experience, and in response to changes in priorities. Theseadjustments can be performed in real time during a live working session, where the participants can see the impact of any and all changes on the account, anddetermine how to respond to them.
If this navigator shows an inflation rate of 0.0% and an annual escalation to the contribution of 0.0% then all numbers in the analysis shown are in current dollars only.These rates will be adjusted in the live working session.
$2,949
Anticipated annual construction inflation rate:
$2,949$2,949
$2,949$2,949
$05.0%
EXPENDITURE
Inflation rate historical period; select year : 0.0%
The graph above is a pictorial representation of the cash flow funding model used for this analysis. It illustrates the projected reserve account balance in each of thenext 30 years (green bars) as it is impacted by the projected reserve expenditures over the same period (red bars). The yellow line is an arbitrary threshold or "floor" ofthe reserve account - a line that we will design the model to keep the account balance equal to or greater than in the year(s) when it is drawn down to the lowestbalance. It essentially represents a contingency balance that the account will always have available over and above the amounts required to fund all of the componentswhen the funding model projects them to be replaced.
RESERVE FUNDING NAVIGATORCASH FLOW METHODOLOGY
$2,949$2,949
052.41%
Current
CROSSROADS FARM AMENITIES
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
DOLL
ARS
YEARSEXPENDITURES ACCOUNT BALANCE THRESHOLD
ALL EXPENDITURES ARE EXPRESSED AS FUTURE VALUES
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2017 2018Sum of 2017 Sum of 2018LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
1.001 Asphalt walkway $12,421Grand Total $12,421
CROSSROADS FARM AMENITIESEXPENDITURE SUMMARYDMA
Interactive Reserve AnalysisCopyright © 2016 DMA, Inc..
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2019 2020Sum of 2019 Sum of 2020LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
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2021 2022Sum of 2021 Sum of 2022LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
1.101 Street name signs (blank) $5,7041.121 Traffic control signs (blank) $3,3581.131 Irrigation system electro mech (blank) $874
Grand Total $9,936
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2023 2024Sum of 2023 Sum of 2024LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
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2025 2026Sum of 2025 Sum of 2026LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
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2027 2028Sum of 2027 Sum of 2028LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
1.071 Sign lettering (blank) $1,5411.091 Vinyl fence, 3-rail (blank) $4,4851.111 Wood sign post (blank) $4,514
Grand Total $10,540
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2029 2030Sum of 2029 Sum of 2030LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
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2031 2032Sum of 2031 Sum of 2032LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
1.001 Asphalt walkway $12,4211.121 Traffic control signs (blank) $3,3581.131 Irrigation system electro mechan (blank) $874
Grand Total $16,653
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2033 2034Sum of 2033 Sum of 2034LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
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2035 2036Sum of 2035 Sum of 2036LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
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2037 2038Sum of 2037 Sum of 2038LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
1.021 Stone retaining walls, mortar set(blank) $6721.041 Stone retaining walls, mortar set(blank) $3601.081 Sign lettering (blank) $1,541
Grand Total $2,573
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2039 2040Sum of 2039 Sum of 2040LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
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2041 2042Sum of 2041 Sum of 2042LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
1.101 Street name signs (blank) $5,7041.121 Traffic control signs (blank) $3,3581.131 Irrigation system electro mechan (blank) $874
Grand Total $9,936
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2043 2044Sum of 2043 Sum of 2044LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
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2045 2046Sum of 2045 Sum of 2046LINE NUMBER COMPONENT NAME LOCATION Total LINE NUMBER COMPONENT NAME LOCATION Total
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YEAR 1 2 3 4 5CALENDAR YEAR 2017 2018 2019 2020 2021
PROGRAMMED EXPENDITURES, PRESENT WORTH VALUESSCHEDULE OF REPAIRS AND REPLACEMENTS $12,421 $0 $0 $0 $0CAPITAL IMPROVEMENT PROJECTS $0 $0 $0 $0 $0
BEGINNING YEAR BALANCE $27,794 $18,322 $21,290 $24,260 $27,233FINANCIAL ANALYSIS SUMMARY
INCOMECONTRIBUTION TO RESERVES $2,949 $2,949 $2,949 $2,949 $2,949LOAN DEPOSITS $0 $0 $0 $0 $0PLUS SPECIAL ASSESSMENTS $0 $0 $0 $0 $0PLUS OTHER FUNDS COMING DUE $0 $0 $0 $0 $0PLUS INVESTMENT INCOME ON PRIOR YEAR'S ENDING BALANCE $0 $18 $21 $24 $27INVESTMENT 1 $0 $0 $0 $0 $0INVESTMENT 2 $0 $0 $0 $0 $0TOTAL INCOME $2,949 $2,967 $2,970 $2,973 $2,976
EXPENDITURES, FUTURE VALUESSCHEDULE OF REPAIRS AND REPLACEMENTS $12,421 $0 $0 $0 $0CAPITAL IMPROVEMENT PROJECTS $0 $0 $0 $0 $0FINANCIAL LOAN PAYMENT $0 $0 $0 $0 $0OTHER DISBURSEMENTS $0 $0 $0 $0 $0TOTAL EXPENDITURES $12,421 $0 $0 $0 $0
END OF YEAR BALANCE $18,322 $21,290 $24,260 $27,233 $30,210
MINIMUM ACCOUNT THRESHOLDCALCULATED THRESHOLD AS A % OF TOTAL 30 YEAR COSTS $3,103 $3,178 $3,254 $3,333 $3,413FUNDING OBJECTIVE MET? YES YES YES YES YESMINIMUM REQUIRED CASH TRANSFER $0 $0 $0 $0 $0
ESCALATION, INFLATION, EARNINGS RATESANNUAL CONTRIBUTION ESCALATION: N/A 0.00% 0.00% 0.00% 0.00%ANNUAL CONSTRUCTION COST ESCALATION: N/A 2.41% 2.41% 2.41% 2.41%ANNUAL RESERVE ACCOUNT INCOME RATE 0.10% 0.10% 0.10% 0.10% 0.10%
CASH FLOW SPREADSHEETCROSSROADS FARM AMENITIES
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YEARCALENDAR YEAR
PROGRAMMED EXPENDITURES, PRESENT WORTH VALUESSCHEDULE OF REPAIRS AND REPLACEMENTSCAPITAL IMPROVEMENT PROJECTS
BEGINNING YEAR BALANCEFINANCIAL ANALYSIS SUMMARY
INCOMECONTRIBUTION TO RESERVESLOAN DEPOSITSPLUS SPECIAL ASSESSMENTSPLUS OTHER FUNDS COMING DUEPLUS INVESTMENT INCOME ON PRIOR YEAR'S ENDING BALANCEINVESTMENT 1INVESTMENT 2TOTAL INCOME
EXPENDITURES, FUTURE VALUESSCHEDULE OF REPAIRS AND REPLACEMENTSCAPITAL IMPROVEMENT PROJECTSFINANCIAL LOAN PAYMENTOTHER DISBURSEMENTSTOTAL EXPENDITURES
END OF YEAR BALANCE
MINIMUM ACCOUNT THRESHOLDCALCULATED THRESHOLD AS A % OF TOTAL 30 YEAR COSTSFUNDING OBJECTIVE MET?MINIMUM REQUIRED CASH TRANSFER
ESCALATION, INFLATION, EARNINGS RATESANNUAL CONTRIBUTION ESCALATION: ANNUAL CONSTRUCTION COST ESCALATION: ANNUAL RESERVE ACCOUNT INCOME RATE
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
6 7 8 9 102022 2023 2024 2025 2026
$9,936 $0 $0 $0 $0$0 $0 $0 $0 $0
$30,210 $21,996 $24,967 $27,941 $30,918
$2,949 $2,949 $2,949 $2,949 $2,949$0 $0 $0 $0 $0$0 $0 $0 $0 $0$0 $0 $0 $0 $0
$30 $22 $25 $28 $31$0 $0 $0 $0 $0$0 $0 $0 $0 $0
$2,979 $2,971 $2,974 $2,977 $2,980
$11,193 $0 $0 $0 $0$0 $0 $0 $0 $0$0 $0 $0 $0 $0$0 $0 $0 $0 $0
$11,193 $0 $0 $0 $0
$21,996 $24,967 $27,941 $30,918 $33,898
$3,495 $3,579 $3,666 $3,754 $3,844YES YES YES YES YES$0 $0 $0 $0 $0
0.00% 0.00% 0.00% 0.00% 0.00%2.41% 2.41% 2.41% 2.41% 2.41%0.10% 0.10% 0.10% 0.10% 0.10%
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YEARCALENDAR YEAR
PROGRAMMED EXPENDITURES, PRESENT WORTH VALUESSCHEDULE OF REPAIRS AND REPLACEMENTSCAPITAL IMPROVEMENT PROJECTS
BEGINNING YEAR BALANCEFINANCIAL ANALYSIS SUMMARY
INCOMECONTRIBUTION TO RESERVESLOAN DEPOSITSPLUS SPECIAL ASSESSMENTSPLUS OTHER FUNDS COMING DUEPLUS INVESTMENT INCOME ON PRIOR YEAR'S ENDING BALANCEINVESTMENT 1INVESTMENT 2TOTAL INCOME
EXPENDITURES, FUTURE VALUESSCHEDULE OF REPAIRS AND REPLACEMENTSCAPITAL IMPROVEMENT PROJECTSFINANCIAL LOAN PAYMENTOTHER DISBURSEMENTSTOTAL EXPENDITURES
END OF YEAR BALANCE
MINIMUM ACCOUNT THRESHOLDCALCULATED THRESHOLD AS A % OF TOTAL 30 YEAR COSTSFUNDING OBJECTIVE MET?MINIMUM REQUIRED CASH TRANSFER
ESCALATION, INFLATION, EARNINGS RATESANNUAL CONTRIBUTION ESCALATION: ANNUAL CONSTRUCTION COST ESCALATION: ANNUAL RESERVE ACCOUNT INCOME RATE
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
11 12 13 14 152027 2028 2029 2030 2031
$10,540 $0 $0 $0 $0$0 $0 $0 $0 $0
$33,898 $23,508 $26,480 $29,456 $32,434
$2,949 $2,949 $2,949 $2,949 $2,949$0 $0 $0 $0 $0$0 $0 $0 $0 $0$0 $0 $0 $0 $0
$34 $24 $26 $29 $32$0 $0 $0 $0 $0$0 $0 $0 $0 $0
$2,983 $2,973 $2,975 $2,978 $2,981
$13,373 $0 $0 $0 $0$0 $0 $0 $0 $0$0 $0 $0 $0 $0$0 $0 $0 $0 $0
$13,373 $0 $0 $0 $0
$23,508 $26,480 $29,456 $32,434 $35,415
$3,937 $4,032 $4,129 $4,229 $4,331YES YES YES YES YES$0 $0 $0 $0 $0
0.00% 0.00% 0.00% 0.00% 0.00%2.41% 2.41% 2.41% 2.41% 2.41%0.10% 0.10% 0.10% 0.10% 0.10%
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YEARCALENDAR YEAR
PROGRAMMED EXPENDITURES, PRESENT WORTH VALUESSCHEDULE OF REPAIRS AND REPLACEMENTSCAPITAL IMPROVEMENT PROJECTS
BEGINNING YEAR BALANCEFINANCIAL ANALYSIS SUMMARY
INCOMECONTRIBUTION TO RESERVESLOAN DEPOSITSPLUS SPECIAL ASSESSMENTSPLUS OTHER FUNDS COMING DUEPLUS INVESTMENT INCOME ON PRIOR YEAR'S ENDING BALANCEINVESTMENT 1INVESTMENT 2TOTAL INCOME
EXPENDITURES, FUTURE VALUESSCHEDULE OF REPAIRS AND REPLACEMENTSCAPITAL IMPROVEMENT PROJECTSFINANCIAL LOAN PAYMENTOTHER DISBURSEMENTSTOTAL EXPENDITURES
END OF YEAR BALANCE
MINIMUM ACCOUNT THRESHOLDCALCULATED THRESHOLD AS A % OF TOTAL 30 YEAR COSTSFUNDING OBJECTIVE MET?MINIMUM REQUIRED CASH TRANSFER
ESCALATION, INFLATION, EARNINGS RATESANNUAL CONTRIBUTION ESCALATION: ANNUAL CONSTRUCTION COST ESCALATION: ANNUAL RESERVE ACCOUNT INCOME RATE
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16 17 18 19 202032 2033 2034 2035 2036
$16,653 $0 $0 $0 $0$0 $0 $0 $0 $0
$35,415 $14,599 $17,562 $20,529 $23,499
$2,949 $2,949 $2,949 $2,949 $2,949$0 $0 $0 $0 $0$0 $0 $0 $0 $0$0 $0 $0 $0 $0
$35 $15 $18 $21 $23$0 $0 $0 $0 $0$0 $0 $0 $0 $0
$2,984 $2,964 $2,967 $2,970 $2,972
$23,801 $0 $0 $0 $0$0 $0 $0 $0 $0$0 $0 $0 $0 $0$0 $0 $0 $0 $0
$23,801 $0 $0 $0 $0
$14,599 $17,562 $20,529 $23,499 $26,471
$4,435 $4,542 $4,651 $4,763 $4,878YES YES YES YES YES$0 $0 $0 $0 $0
0.00% 0.00% 0.00% 0.00% 0.00%2.41% 2.41% 2.41% 2.41% 2.41%0.10% 0.10% 0.10% 0.10% 0.10%
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YEARCALENDAR YEAR
PROGRAMMED EXPENDITURES, PRESENT WORTH VALUESSCHEDULE OF REPAIRS AND REPLACEMENTSCAPITAL IMPROVEMENT PROJECTS
BEGINNING YEAR BALANCEFINANCIAL ANALYSIS SUMMARY
INCOMECONTRIBUTION TO RESERVESLOAN DEPOSITSPLUS SPECIAL ASSESSMENTSPLUS OTHER FUNDS COMING DUEPLUS INVESTMENT INCOME ON PRIOR YEAR'S ENDING BALANCEINVESTMENT 1INVESTMENT 2TOTAL INCOME
EXPENDITURES, FUTURE VALUESSCHEDULE OF REPAIRS AND REPLACEMENTSCAPITAL IMPROVEMENT PROJECTSFINANCIAL LOAN PAYMENTOTHER DISBURSEMENTSTOTAL EXPENDITURES
END OF YEAR BALANCE
MINIMUM ACCOUNT THRESHOLDCALCULATED THRESHOLD AS A % OF TOTAL 30 YEAR COSTSFUNDING OBJECTIVE MET?MINIMUM REQUIRED CASH TRANSFER
ESCALATION, INFLATION, EARNINGS RATESANNUAL CONTRIBUTION ESCALATION: ANNUAL CONSTRUCTION COST ESCALATION: ANNUAL RESERVE ACCOUNT INCOME RATE
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21 22 23 24 252037 2038 2039 2040 2041
$2,573 $0 $0 $0 $0$0 $0 $0 $0 $0
$26,471 $25,304 $28,279 $31,256 $34,236
$2,949 $2,949 $2,949 $2,949 $2,949$0 $0 $0 $0 $0$0 $0 $0 $0 $0$0 $0 $0 $0 $0
$26 $25 $28 $31 $34$0 $0 $0 $0 $0$0 $0 $0 $0 $0
$2,975 $2,974 $2,977 $2,980 $2,983
$4,142 $0 $0 $0 $0$0 $0 $0 $0 $0$0 $0 $0 $0 $0$0 $0 $0 $0 $0
$4,142 $0 $0 $0 $0
$25,304 $28,279 $31,256 $34,236 $37,219
$4,996 $5,116 $5,239 $5,366 $5,495YES YES YES YES YES$0 $0 $0 $0 $0
0.00% 0.00% 0.00% 0.00% 0.00%2.41% 2.41% 2.41% 2.41% 2.41%0.10% 0.10% 0.10% 0.10% 0.10%
X6A20T X6A21T X6A22T X6A23T X6A24T
Page No. 27
YEARCALENDAR YEAR
PROGRAMMED EXPENDITURES, PRESENT WORTH VALUESSCHEDULE OF REPAIRS AND REPLACEMENTSCAPITAL IMPROVEMENT PROJECTS
BEGINNING YEAR BALANCEFINANCIAL ANALYSIS SUMMARY
INCOMECONTRIBUTION TO RESERVESLOAN DEPOSITSPLUS SPECIAL ASSESSMENTSPLUS OTHER FUNDS COMING DUEPLUS INVESTMENT INCOME ON PRIOR YEAR'S ENDING BALANCEINVESTMENT 1INVESTMENT 2TOTAL INCOME
EXPENDITURES, FUTURE VALUESSCHEDULE OF REPAIRS AND REPLACEMENTSCAPITAL IMPROVEMENT PROJECTSFINANCIAL LOAN PAYMENTOTHER DISBURSEMENTSTOTAL EXPENDITURES
END OF YEAR BALANCE
MINIMUM ACCOUNT THRESHOLDCALCULATED THRESHOLD AS A % OF TOTAL 30 YEAR COSTSFUNDING OBJECTIVE MET?MINIMUM REQUIRED CASH TRANSFER
ESCALATION, INFLATION, EARNINGS RATESANNUAL CONTRIBUTION ESCALATION: ANNUAL CONSTRUCTION COST ESCALATION: ANNUAL RESERVE ACCOUNT INCOME RATE
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
26 27 28 29 302042 2043 2044 2045 2046
$9,936 $0 $0 $0 $0$0 $0 $0 $0 $0
$37,219 $22,186 $25,157 $28,131 $31,108
$2,949 $2,949 $2,949 $2,949 $2,949$0 $0 $0 $0 $0$0 $0 $0 $0 $0$0 $0 $0 $0 $0
$37 $22 $25 $28 $31$0 $0 $0 $0 $0$0 $0 $0 $0 $0
$2,986 $2,971 $2,974 $2,977 $2,980
$18,020 $0 $0 $0 $0$0 $0 $0 $0 $0$0 $0 $0 $0 $0$0 $0 $0 $0 $0
$18,020 $0 $0 $0 $0
$22,186 $25,157 $28,131 $31,108 $34,088
$5,627 $5,763 $5,902 $6,044 $6,190YES YES YES YES YES$0 $0 $0 $0 $0
0.00% 0.00% 0.00% 0.00% 0.00%2.41% 2.41% 2.41% 2.41% 2.41%0.10% 0.10% 0.10% 0.10% 0.10%
X6A25T X6A26T X6A27T X6A28T X6A29T
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ASSESSMENT ALLOCATIONCROSSROADS FARM AMENITIES
TOTAL BUDGET
Year Reserve Assessment
Operating Budget Assessment Total Assessment
Reserves as a Percentage of Total
Assessment
Annual Increase In Total Assessment
2017 $2,949.00 $129,651.00 $132,600.00 2.22%
2018 $2,949.00 $132,775.14 $135,724.14 2.17% 2.36%
2019 $2,949.00 $135,974.55 $138,923.55 2.12% 2.36%
2020 $2,949.00 $139,251.06 $142,200.06 2.07% 2.36%
2021 $2,949.00 $142,606.53 $145,555.53 2.03% 2.36%
ALLOCATION CALCULATIONS221
Unit Type Single FamilyPercentage Allocation To Unit Type 100.00%
221
Annual Contribution Per Unit TypeYear Reserve
AssessmentOperating Budget
Assessment Total Assessment Special Assessments
2017 $13.34 $586.66 $600.00 $0.002018 $13.34 $600.79 $614.14 $0.002019 $13.34 $615.27 $628.61 $0.002020 $13.34 $630.10 $643.44 $0.002021 $13.34 $645.28 $658.62 $0.00
Monthly Contribution Per Unit TypeYear Reserve
AssessmentOperating Budget
Assessment Total Assessment
2017 $1.11 $48.89 $50.00 2018 $1.11 $50.07 $51.18 2019 $1.11 $51.27 $52.38 2020 $1.11 $52.51 $53.62 2021 $1.11 $53.77 $54.89
Total Number of Units
Number of Units of This Type
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Page No. 29
SCHEDULE OF COMPONENTSCROSSROADS FARM AMENITIES
LINE NUMBER COMPONENT NAME
FIELD MEASURED
QUANTITY OR COUNT
UNITS% QUANTITY TO BE REPLACED EACH
OCCURRENCECOMMENTS AND DESCRIPTION OF SPECIAL CONDITIONS
LAST IN- SERVICE
DATE
2002
1.00
1.00 Asphalt walkway 856 SY 100% PEALE'S PARK WALKWAY RESURFACING 2002
1.01 Stone retaining walls 336 SF 100% PEALE'S PARK RETAINING WALLS 2002
1.02 Stone retaining walls, mortar set 336 SF 100% PEALE'S PARK RETAINING WALLS 2002
1.03 Stone retaining walls 180 SF 100% BELLAVISTA CMU / STONE ENTRANCE WALL 2002
1.04 Stone retaining walls, mortar set 180 SF 100% BELLAVISTA CMU / STONE ENTRANCE WALL 2002
1.05 Stone retaining walls 200 SF 100% RED CLIFF LANE ENTRANCE MONUMENTS 2012
1.06 Stone retaining walls, mortar set 200 SF 100% RED CLIFF LANE ENTRANCE MONUMENTS 2012
1.07 Sign lettering 14 EA 100% BELLAVISTA ENTRANCE SIGN LETTERS 2002
1.08 Sign lettering 14 EA 100% RED CLIFF LANE ENTRANCE SIGN LETTERS 2012
1.09 Vinyl fence, 3-rail 233 LF 100% BELLAVISTA ENTRANCE RAIL FENCING 2002
1.10 Street name signs 20 EA 100% STREET NAME SIGNS 2002
1.11 Wood sign post 20 EA 100% STREET NAME SIGN POST 2002
1.12 Traffic control signs 37 EA 33% TRAFFIC / INFORMATION SIGNS 2002
1.13 Irrigation system electro mechanical controller 1 EA 100% IRRIGATION CONTROLLERS 2002
BASIC COMPONENT INFORMATION AGESITE VISIT INFORMATION
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Page No. 30
LINE NUMBER COMPONENT NAME
1.00
1.00 Asphalt walkway
1.01 Stone retaining walls
1.02 Stone retaining walls, mortar set
1.03 Stone retaining walls
1.04 Stone retaining walls, mortar set
1.05 Stone retaining walls
1.06 Stone retaining walls, mortar set
1.07 Sign lettering
1.08 Sign lettering
1.09 Vinyl fence, 3-rail
1.10 Street name signs
1.11 Wood sign post
1.12 Traffic control signs
1.13 Irrigation system electro mechanical controller
BASIC COMPONENT INFORMATION
DMAInteractive Reserve AnalysisCopyright © 2016 DMA, Inc.
LOCATION CCI 86.1 BASE CCI 86.1CURRENT
ESTIMATED USEFUL LIFE
(EUL)
REPLACEMENT INTERVAL
AFTER FIRST REPLACEMENT
REMAINING USEFUL LIFE OR
YEARS PAST DUE
NEXT REPLACEMENT
YEAR
% OF TOTAL QUANTITY TO BE
REPLACEDUNITS QUANTITY OR
COUNT UNIT COST REPLACEMENT COST, PER OCCURRENCE
DEFAULT DEFAULT 2017 AUTO CALC NO EDITING NO EDITING NO EDITING NO EDITING NO EDITING
15 15 0 2017 100% SY 856 $14.51 $12,420.56
50 50 35 2052 100% SF 336 $39.84 $13,386.24
35 35 20 2037 100% SF 336 $2.00 $672.00
50 50 35 2052 100% SF 180 $46.55 $8,379.00
35 35 20 2037 100% SF 180 $2.00 $360.00
50 50 45 2062 100% SF 200 $46.55 $9,310.00
35 35 30 2047 100% SF 200 $2.00 $400.00
25 25 10 2027 100% EA 14 $110.06 $1,540.84
25 25 20 2037 100% EA 14 $110.06 $1,540.84
25 25 10 2027 100% LF 233 $19.25 $4,485.25
20 20 5 2022 100% EA 20 $285.22 $5,704.40
25 25 10 2027 100% EA 20 $225.68 $4,513.60
10 10 (5) 2012 33% EA 37 $275.00 $3,357.75
10 10 (5) 2012 100% EA 1 $874.27 $874.27
COMPONENT LIFECYCLE AND COSTINGCROSSROADS FARM AMENITIES
LIFE CYCLEREPLACEMENT COST
Page No. 31
Year Index Difference % IncreaseDirect Cost Multiplier Period in Years
Average Annual Escalation Month
2015 206.7 0 0.00% 1.0000 0 n/a As of January2014 204.9 1.8 0.88% 1.0088 1 0.88% July2013 201.2 5.5 2.73% 1.0273 2 1.36% July2012 194.6 12.1 6.22% 1.0622 3 2.03% July2011 191.2 15.5 8.11% 1.0811 4 1.97% July2010 183.5 23.2 12.64% 1.1264 5 2.41% July2005 151.6 55.1 36.35% 1.3635 10 3.15% July2000 120.9 85.8 70.97% 1.7097 15 3.64% July
HISTORIC COST INDICESSource: R.S. MEANS
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