About the Course
Delve into the core of reserve study fundamentals with our expert-led session. Learn the essential concepts, requirements, and processes vital for mastering this critical budgeting tool. Uncover practical strategies and gain the expertise needed to excel in reserve study activities. Join us on this transformative learning journey and take your budgeting skills to the next level. Enroll now to secure your spot! This is the most important reserve study course for any reserve professional, manager, or anyone else connected to the community association industry. While reserve studies have been around the industry for some 40 years there are still may misconceptions about what a reserve study is. Many of those misconceptions come from reserve preparers who think they know what a reserve study is and continue to spread bad information. This course sets the record straight. A reserve study is a budget, a financial projection. It is NOT a maintenance plan or component study but is based on a maintenance plan. This course examines the conceptual foundation of capital budgets in general, standards for reserve studies, the three disciplines that comprise the reserve study process, the skills required of reserve professionals, the importance of consistency of financial calculations, the relevance of the Fair Assessment Doctrine, why a consistent, structured reporting arrangement is necessary, and more.
Meet Your Instructor
Gary Porter, RS, FMP, CPA, RRC, is the CEO of Facilities Advisors International and president of ICBI. Gary has provided financial services to condominium and homeowners associations since 1976. He has authored seven books, more than 400 articles on association financial matters and has been quoted or published in the Wall Street Journal, Money Magazine, Kiplinger’s Personal Finance, Common Ground, Timesharing Today, Developments, Building Trades, The Ledger Quarterly and Florida Community Association Journal, The Ledger Quarterly, and the Practical Accountant. He has been performing reserve studies since 1982. He is the primary author of ICBI’s Generally Accepted Reserve Study Standards. He holds the FMP (Facilities Management Professional) credential, which designates him as an expert in facilities management, the most critical skill in component condition assessment. He was a recognized economics and valuations expert in the California Superior Court system for more than twenty years and has served as the court appointed independent expert on several occasions. He holds CAI’s RS (Reserve Specialist) designation and is also a registered reserve specialist in Nevada. Mr. Porter is also a Certified Public Accountant and possesses the skills directly applicable to preparation of a financial projection for future major repairs and replacements. He also holds the Registered Reserve Consultant (RRC) credential, the highest designation available to reserve preparers. His broad background gives him the global perspective of the entire reserve study process that most others lack, and the ability to write the book “Reserve Studies – The Complete Guide”. Mr. Porter has been active in the industry for decades. He was a founding member of the CAI Channel Islands California chapter in 1979 and served as CAI's national president in 1998. He has received numerous awards, including CAI's Distinguished Service and Author of the Year Awards, and CACM's Vision Award for outstanding service.
Ready to Master Reserve Study Fundamentals?
Unlock the secrets of reserve study activity and elevate your budgeting skills. Enroll now to secure your spot!