Condominium Boards are required to provide annual disclosures to the community with relation to the reserve account, percent funded and loans / special assessments being planned or implemented.
All of our reserve studies include a disclosure form which complies with state regulations. Sample Assessment & Disclosure Form Here >>>
Typical disclosure requirements include the adopted budget amount, reserve allocation amounts, the adequacy of the reserve allocation versus the reserve study recommendations and loan/special assessment planned or implemented.
Knowledge of building & site components, costs and concepts such as the fully funded balance and percent funded are needed to adequately comply with state disclosure regulations. As a service to our clients we include these disclosure forms in our fees for the reserve studies performed.