SCT Reserve Study
Just received your SCT Reserve Study... now what?
Follow these steps and it will be ready for mailing.
Check key elements
Estimated Year-End Balance
Reserve balance estimate is located here.
Reserve allocation is expressed here as an annual figure.
The reserve allocation should match identically to the budget being prepared.
Turn to the Reserve Summary page, usually page 4.
Reserve allocation and estimated year-end balance should be reviewed (and corrected, if necessary) before final board approval.
Then, turn to the Component Identification Report page(s), usually starts on page 10.
Here is an example.
Double check major expenses are accounted for properly.
Send approved budget
Send your reserve provider the approved budget along with any changes, if necessary, mentioned above.
We will then finalize the reserve study, and the disclosure documents will be ready for mailing. They will look something like this.
SCT's disclosure pages are the Reserve Summary and Assessment and Reserve Funding Disclosure Summary.
A report is finalized when the monthly dues are added to the top of the Assessment and Reserve Funding Disclosure Summary.