Reserve Study News and Events

April 29 - May 1, 2015 - Gary Porter, Pierre Del Rosario, and Lynn Salleee of Facilities Advisors International (FAI) attend CAI National conference in Las Vegas, Nevada.

April 21, 2015 - Gary Porter had an article published "International Group Adopts New Reserve Study Standards" at the industry resource website, HOA Pulse.  This article summarizes the new standards, which are the biggest change to the reserve study industry in twenty years..

April 17, 2015 - Facilities Advisors International (FAI) has long been recognized as a leader in reserve study methodology and software development. FAI is proud to have led the development of these new reserve study standards. FAI’s Gary Porter is also president of the International Capital Budgeting Institute (ICBI), and Pierre Del Rosario serves on its board of directors.

ICBI announced the adoption of new professional reserve study standards effective April 16, 2015. These standards, known as Generally Accepted Reserve Study Principles and Generally Accepted Reserve Study Standards, represent the culmination of a year-long effort by ICBI to provide standards for reliable, consistent reserve studies for the community association and timeshare industries. These standards represent the biggest change in the reserve study process in twenty years and will result in better reliability and consistency of reporting in reserves.

ICBI president Gary Porter formed a team of 16 industry professionals from six countries for this process. The ICBI standards committee included a broad spectrum of industry professionals that were able to provide a perspective reflecting all stakeholders in the industry. These are truly global standards and are already being applied in several countries.

The primary differences of the new ICBI standards as compared to previously existing standards are best summarized in four broad categories:

1) A more comprehensive definition of components – The standards expand and clarify the definition of components to reflect the true maintenance responsibility of the association. This results in greater consistency and reliability in reserve studies.

2) A more definitive description of service levels – ICBI provides for three service levels; independent study, reserve management plan (collaborating with the association), and consulting.    

3) A requirement for consistent calculations – ICBI standards establish requirements for consistent calculation methods and software capable of making accurate calculations. Standards also require consistent terminology definitions.    

4) A consistent and uniform approach to reporting on reserve studies – ICBI standards require specific, consistent reporting formats on a summary basis, generally with a report of no more than 20 pages. Supplemental schedules providing the detail are generally separated from the basic report.

The result to the public is a reliability and uniformity that benefits all users of reserve studies.

There are articles providing a more complete description of these standards in the Linkedin groups “Condo and HOA Finances” and “Condo and HOA Reserve Studies.” Another financial related group is “Condo and HOA Taxes.” All are open groups, but you have to be a member of Condo and HOA Finances before you can join the other two.

ICBI                www.capitalbudgeting.org

Standards        http://www.capitalbudgeting.org/index.php/rs-professional-standards

Committee      http://www.capitalbudgeting.org/index.php/rs-standards-committee

October 26 - 27, 2014 - Gary Porter presented a session of unique aspects of timeshare association reserve studies at the TBMA (Timeshare Board members Association) conference in San Diego, California.  There were a number of other individuals presenting sessions on various aspects of timeshare operations.

May 20, 2014 - Lynn Sallee attended the 2014 Cooperator New England conference in Boston, Massachusetts.

May 17 - 18, 2014 - Gary Porter attended the 2014 APRA symposium in Orlando, Florida.  The symposium included eight hours of continuing education on a number of technical reserve study topics.

May 14 - 16, 2014 - Gary Porter attended the 2014 CAI National conference in Orlando, Florida.  In addition to attending a number of educational sessions and the reserve professionals "shoptalk" session, Gary met with a number of management companies and large scale associations.

May 5 - 6, 2014 - Gary Porter presented a session of unique aspects of timeshare association reserve studies at the TBMA (Timeshare Board members Association) conference in San Antonio, Texas.  There were a number of other individuals presenting sessions on various aspects of timeshare operations.  This was a great event with a great group of speakers.

April 28 - 29, 2014 - Gary Porter presented a session of unique aspects of timeshare association reserve studies for more than 200 resort managers at the VRI (Vacation Resorts International) conference in San Antonio, Texas.  There were a number of other individuals presenting sessions on various aspects of timeshare operations.  This was a great event with a great group of speakers.

May 5, 2014 - Gary Porter had an article published "The 2012 Syndrome and Reserve Funding" at the industry resource website, HOA Pulse.  This article discusses the "head in the sand" approach used by some individuals because "I won't be here when those expenditures are required."

March 26, 2014 - Gary Porter had an article published "Penny Wise, Pound Foolish = Big Problems " at the industry resource website, HOA Pulse.  This article discusses the pitfalls failing to perform routine maintenance that results in much larger long-term expenditure requirements.

January 15, 2014 - Gary Porter had an article published "Funding Reserves Based on Percentage of Assessments" at the industry resource website, HOA Pulse.  This article discusses the pitfalls of approaching reserves based on available funds rather than actual expenditure requirements.

December 4, 2013 - Pierre Del Rosario and Gary Porter attend the 2013 Cooperator Florida conference in Ft. Lauderdale, Florida.  On the way back, spent two days in Sandestin, Florida working on a reserve study for an exclusive private residence club.

December 4, 2013 - Gary Porter had an article published "Reserve Loans and Interest Deductions" at the industry resource website, HOA Pulse.  This article explains the tax issues related to deductiblity of loan interest on loans made for reserve projects.

October 15, 2013 - Gary Porter had an article published "Who owns the Reserve Study report?" at the industry resource website, HOA Pulse.  This article discusses the different points of view regarding independent reports versus consulting reports.

September 19, 2013 - Gary Porter had an article published "Reserve Study Versus Insurance Appraisal or PCA" at the industry resource website, HOA Pulse.  This article explains the difference between the three different types of services commonly provided for homeowners associations.

September 4, 2013 - Gary Porter had an article published "Contingencies in the Reserve Study" at the industry resource website, HOA Pulse.  This article discusses the different ways that contingencies can be calculated and presented in the reserve study.

August 14, 2013 - Gary Porter had an article published "Selecting a Reserve Study Company" at the industry resource website, HOA Pulse.  This article helps the reader address the important issues in selecting a reserve study.

August 14, 2013 - Gary Porter had an article published "Setting the Scope of the Reserve Study" at the industry resource website, HOA Pulse.  The most important, yet most overlooked step in the reserve study process is explained in detail.  This helps YOU take control of your reserve study.

July 24, 2013 - Gary Porter had an article published "Reserve Studies and Remaining Life" at the industry resource website, HOA Pulse.  Discusses the importance of determining remaining life and the various methods that can be used to calculate remaining life.

July 10, 2013 - Gary Porter had an article published "The Importance of the Reserve Fund" at the industry resource website, HOA Pulse.

May 7, 2013 - Gary Porter had an article published "Some Brief Notes on Roof Maintenance" at the industry resource website, HOA Pulse.

April 2013 - Gary Porter had an article published "Calculating Reserves" at the industry resource website, HOA Pulse.  HOA Pulse is one of the industry's most heavily visited websites, attracting thousands of readers each month.

April 27, 2013 - Gary Porter presented a session of reserve studies for more than 100 homeowner members as part of the Wildernest Board member Bootcamp in Silverthorne, Colorado.  Other speakers of the day presented sessions on insurance, legal update, regulatory issues, keyless entry systems, and board member responsibilities.  A great event with a great group of speakers.

April 2013 - Gary Porter was a speaker on a panel of three reserve professionals on the subject of contracts for reserve study services.  This discussion was part of APRA's 2013 symposium in San Diego, California.

April 2013 - Pierre Del Rosario and Gary Porter attend the 2013 APRA symposium in San Diego, California.  The symposium included eight hours of continuing education on various reserve study topics.  Technical presentations included in the education courses included HVAC systems, Flat Roofing systems, legal issues.

April 2013 - Pierre Del Rosario and Gary Porter attend the 2013 CAI National conference in San Diego, California.  In addition to attending a number of educational sessions and the reserve professionals "shoptalk" session, from our booth in the exhibit hall we demonstrated  the Facilities 7 internet-based software system to a number of management companies and large scale associations.

In addition, since this was CAI's 40th anniversary, special recognition was given to all of CAI's past presidents.  Gary Porter was CAI's 25th president, and participated in the opening general session ceremony, attended the Presidents Club meeting, and introduced a group of speakers at a Friday morning educational session.

January 2013 - Gary Porter speaks as a panel member at CAI's Law Seminar in Tucson, Arizona.  The topics were associations finances and reserve issues, as part of the CIRMS Masters Series of courses.  Other panelists included three insurance professionals, and representatives of FHA and FNMA.

May 2012 - Pierre Del Rosario and Gary Porter attend the 2012 APRA symposium in Las Vegas, Nevada.  The symposium included eight hours of continuing education on various reserve study topics.  Technical presentations included in the education courses included swimming pools, decking, flooring systems, and energy efficient systems.

May 2012 - Pierre Del Rosario and Gary Porter attend the CAI National conference in Las Vegas, Nevada.  From our booth in the exhibit hall we intoduced a number of associations and management companies to the Facilities 7 software tool now available to them.

April 2012 - Facilities Advisors, Inc. announces the release of the reserve module of the Facilities 7 integrated facilities maintenance management system.  Facilities 7 is an internet-based system that allows associations to update their own information and reduce overall maintenance costs.  This knowledge based system utliizes a single component database to link all activities related to components.  The reserve study module is the normal data gathering tool and produces the long-term capital replacement budget.  Upcoming modules are Capital Improvements, Asset Tracking, Insurance Tracking, Operations maintenance Tracking, Depreciation, and Project Management.  Facilities 7 is the only integrated facilities maintenance management software available.

The team at Facilities Advisors, Inc. assisted in the design and development of Facilities 7 and now make it available to all clients of the firm.

November 2011 - Facilities Advisors, Inc. announces the opening of it's newest office in Miami, Florida

November 12, 2011 - Gary Porter presented at a Reserve and Budgeting Seminar and NEW Utah State Law in Salt Lake City, Utah

November 2011 - Facilities Advisors, Inc. announces the opening of it's newest office in Salt Lake City, Utah

June 2011 - Pierre Del Rosario and Gary Porter attend the 2011 APRA symposium in Chicago, illinois.  The symposium included eight hours of continuing education on various reserve study topics.  Technical presentations included in the education courses included elevator maintenance, siding installation and maintenance issues, and window installation and maintenance issues.

April 2011 - Pierre Del Rosario and Gary Porter attend the CAI National conference in Boca Raton, Florida.

July 2010 - Pierre Del Rosario and Gary Porter attend the CACM Expo in Anaheim, California.

April 2010 - Pierre Del Rosario and Gary Porter attend the CAI National conference in Las Vegas, Nevada.

March 2010 - Gary Porter receives CAI's Reserve Specialist designation. The Reserve Specialist (RS) designation is awarded to the qualified individual who demonstrates years of specialized experience and meets comprehensive requirements. Reserve Specialists assist community associations in preparing accurate reserve budgets. This requires skills in evaluating the condition of physical facilities and familiarity with various types of construction. Reserve Specialists must keep abreast of current industry conditions and pricing for a wide variety of building components and equipment. Furthermore, the Reserve Study Report requires the ability to create a long term financial projection.

Mr. Porter also holds the designations of Professional Reserve Analyst (PRA), issued by the Association of Professional Reserve Analysts, and the designation of Reserve Study Specialist (RSS), awarded by the State of Nevada.

Facilities Advisors, Inc. has been providing reserve studies for Homeowners Associations and Timeshare Resorts since 1982. The firm provides quality service, competitive fees, easy-to-read reports and a quick turnaround.

To reach Gary Porter at Facilities Advisors, Inc. please contact 877-304-6700 or visit our website at www.reservestudyusa.com.

February 2010 - Pierre Del Rosario receives PRA designation from APRA, Association of Professional Reserve Analysts.  The PRA designation signifies compliance with APRA qualifications and rules.  Only those individuals that can demonstrate significant experience in reserve study preparation will qualify for this designation.  APRA is the only organization dedicated solely to the reserve study industry, and is a recognized leading organization in the community association industry.

February 2010 - Gary Porter and Pierre Del Rosario attend the CAI Central Arizona chapter annual trade show in Tempe, Arizona.  The show was attended by several hundred industry professionals.

December 2009 - Gary Porter receives PRA designation from APRA, Association of Professional Reserve Analysts.  The PRA designation signifies compliance with APRA qualifications and rules.  Only those individuals that can demonstrate significant experience in reserve study preparation will qualify for this designation.  APRA is the only organization dedicated solely to the reserve study industry, and is a recognized leading organization in the community association industry.

October 2009 - Facilities Advisors, inc.(Fai) announces the opening of its new Arizona location.  Located in Tempe, Arizona, our new office was established to better serve the Reserve Study needs of condominium, timeshare and homeowners’ associations in Arizona.

FAI, an industry leader, has been preparing reserve studies nationwide since 1982 and in Arizona since 1999.  Our experience, quality service, competitive fees, easy-to-read reports and quick turnaround make us your preferred provider for reserve study services.

In addition to reserve studies, FAi is developing software that allows your association to better manage your facilities, creating a complete facilities maintenance plan to allow your staff to be more efficient and more cost savings for your association.

Facilities Advisors, inc. is a company geared with unique expert knowledge, skills and experience to serve your reserve study and facilities maintenance needs.  FAi can be reached at  This email address is being protected from spambots. You need JavaScript enabled to view it. and visit our website at www.arizonareservestudy.com or call (480) 478-0511 or nationwide toll-free  at (877) 304-6700.

September 2009 - Gary Porter receives RSS (Reserve Study Specialist) designation from the Nevada Real Estate Division.  The State of Nevada requires that all reserve professionals be registered with this agency to be qualified to perform reserve studies in the state of Nevada.  The RSS designation signifies compliance with Nevada qualifications and rules.  Qualifying individuals must demonstrate significant experience in reserve study preparation will qualify for this designation.