conducted their reports within those standards and guidelines and provided consistent BASIC standardized reserve studies that were used for budgeting purposes.

Another result of the committee’s work was the creation of the Reserve Specialist (RS) designation program. Reserve study providers have to conduct a minimum number of studies and comply with the national standards to attain the RS designation.

Custom and Comprehensive Reserve Studies – the Next Generation

Boards have always expressed interest in furthering their duties as good fiduciaries to make sound business decisions about future replacements. Poehlmann and Salgado include value-added content to their reserve studies by providing EDUCATION and INSIGHT about a community’s future capital projects.

Today, their custom and comprehensive reserve studies include cost-saving best practices with options and choices on near-term replacements. Salgado and Poehlmann continue their leadership role in providing custom and comprehensive studies to empower association boards and professional managers with knowledge and insight about capital projects, how they’re conducted, and information to compare contractors’ bids to further the goals and financial interests of the community as good fiduciaries.

56 | COMMON INTEREST® A Publication of CAI-Illinois Chapter