The 2010 American Disabilities Act (ADA) guidelines for the Accessible Design for Recreation
Facilities were revised and sign into law on September 15, 2010. The law specifies certain
elements of design to ensure that individuals with disabilities are able to access and use
swimming pools, spas, wading pools, and other aquatic recreation facilities.
Elevators are critical elements of modern-day, multi-story buildings. Owners expect they will function as reliably as the sun comes up in the morning. Unfortunately elevators, just like any
other mechanical component, eventually fail.
Significant Assets within Condominium Associations means that the current total cost of major maintenance repair and replacement of the reserve components is fifty percent or more of the gross budget of the association, excluding the budgeted reserve contribution.
It is our understanding that the purpose of the CA Civil Code 1365.2.5 form is to summarize Reserve Study results and clarify the current status of an Association’s Assessments and Reserves in a standard format on an annual basis, minimizing the chances of misrepresentation or surprise.
A Reserve Study helps the Board assemble a responsible budget to care for the Association’s major common area repair and replacement responsibilities, and disclose the Association’s Reserve Fund status to its members. The individual projects listed in the Reserve Study (roofing, painting, asphalt, elevator, etc.) are very different from an Association’s “total insurable value”.
Fund accounting segregates money according to different uses (Operating, Capital Replacement,
Capital Improvement, etc.). The concept of fund accounting is based on the nature of the
expense incurred by an association,
