The Board of Directors is working to continually update systems and ensure the integrity of the association’s finances while minimizing assessments
Best practices and the High Desert governing documents require that reserve funds for the repair and replacement of capital assets be maintained and that the reserve analysis be updated periodically. High Desert Investment Corp. established the initial Master Association reserve account balances in approximately 2001, and HDROA has made annual contributions to the reserve accounts since fiscal year 2005.
The first reserve study update was conducted by Felix Reserve Group in 2009, and reserve study updates have occurred every other year since.
Beginning in 2011 the reserve study updates have been conducted by Great Boards Community Association Services LLC. Association policy has been to use the amounts in the reserve study report to set required reserve asset balances and annual contributions.
Starting in 2016, the balances and annual contribution amounts for the Master Association set forth in the reserve study update reports began to show dramatic annual increases, and the Board of Directors became concerned that these contribution and balance requirements were becoming excessive.
A committee to study the reserve asset inventory and funding requirements for the Master Association was formed in the third quarter of 2018. This report presents the conclusions and recommendations of that committee.