Accountant

Finalizing Your

SCT Reserve Study

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Whether you are arming yourself with knowledge of your upcoming reserve study process or just received your reserve study and are looking for some direction, this page will shed some light. 

Check key elements

1

Reserve allocation, end of year estimated balance, and components should be looked over before final board approval. 

04 SCT Sample - 2021 Reserve Study.jpg

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. 

Then, turn to the Component Identification Report page(s), usually starts on page 10. 

Comp Report 3 pages.png

Here is an example. 

Double check major expenses are accounted for properly.

2

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. 

Disclosure 3 pages vertical.png