Commentary

Company Experience

and Reputation

13 years

excellent

43 years

excellent

The most experienced company in the industry

Analyst’s Professional Credentials included in report

Yes

Yes

Work performed by or under the supervision of a licensed Professional Engineer (PE) and Reserve Specialists (RS)

Association’s Objective

¨       Emphasize Financial Results

¨       Emphasize Engineering Detail

Yes

No

Yes

Yes

With Criterium Engineers, you get both.

Does Report fully comply with CAI Standards for Reserve Studies?

¨       Describe Physical and Financial condition

¨       Project Expenses, contributions over minimum of 20 years

¨       List inventory, value and estimated life

¨       List source of valuation estimates

¨       Describe level of service

¨       Fiscal year for study

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Criterium Engineers developed the CAI standards.  However, standards are generally used as a baseline.  In much of our work, we exceed these standards.  We consider local factors, phasing of work, and other matters that affect costs.  At our option, our approach goes beyond simple cookbook numbers, but is mindful of the work as a planning and budgeting tool.

Will study be performed by or under the supervision of a CAI designated Reserve Specialist (RS)?

Yes

Yes

Does the proposed analysis include:

¨       Cash flow method projection

¨       Component method projection

¨       Calculation of all cycles for components to 50 years

¨       Calculation for multiple critical years under the cash flow method.

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

When requested

Our tables can got out beyond 50 years, although the period of analysis does not

Does the Proposed  Analysis Offer:

¨       Interest on Reserves

¨       Inflation on Expenses

¨       Annual increase of contribution

¨       Simultaneous calculation of interest, inflation and annual increase

Upon request

Upon request

Upon request

Upon request

Yes

Yes

Yes

Yes

Our analysis, at your option, includes the effects of interest and inflation.  Furthermore, we provide a whole range of funding options: increasing contributions (in steps or by percentage), decreasing contributions, and special assessments.

Does the Proposed  Study Provide:

¨       Clear and useful graphs illustrating results and future funding and expenditure trends

¨       Modeling of cycling replacements

¨       Logical phasing of major expenses

¨       Up to 2400 line item inventory of components

¨       Flexibility to organize inventory by building, unit, or by aggregate amounts

¨       Ability to model phasing of the original construction

¨       Opportunity to use actual cost from community records

¨       Graph 30 year projection correlating expenses and results

¨       Project calendars for 30 years

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Our reserve study analysis incorporates tables and graphs that are almost infinitely flexible in terms of modeling replacements and repairs.  We can organize items any way the association wants, phase major expenses as need and budget dictates, and produce separate reports of the association has divided responsibilities.  The analysis is typically for 20 years, although anything from 5 to 30 years is possible.  Costs are taken from the most meaningful reference:  association records, personal experience, or interest tables.

Does Proposer attempt to model the policies and practices of the Board to the extent that good engineering and accounting permit?

Yes

Yes

If funding or maintenance schedules are part of the bylaws, we can generally take that into consideration.

Does price include at least 1 free revision?

Yes

Yes

Three options are contained in the first pass.  We will provide at least one revision at no charge.

Is Report:

¨       Clear, concise

¨       Easy to read and understand

¨       Useful planning tool

Yes

Yes

Yes

Yes

Yes

Yes

Clear, easy to read and understand reports are our hallmark.  A template is available on the BBS. 

Is proposer able to provide Alternate Funding Scenarios to help resolve severely under-funded situations?

Yes

Yes

Three alternatives included with report.

Quote

¨       Reserve Study

¨       Repair List

¨       Transition Study

$

$

$

$

$

$

A transition study is performed when the association takes over from the developer.  This is a good time to up sell a full reserve study.

Includes interviews with maintenance personnel

No

Yes

When available

Includes review of maintenance history

No

Yes

When available

Includes review of construction drawings

No

Yes

When available

Thorough report on current conditions

No

Yes

A complete narrative description of current conditions is contained in our report.  Most other companies do not even send someone to the site who is qualified to do this.

Includes evaluation of upgrades

No

Yes

When available

Ability to meet with board to present findings

Extra cost

Yes

Because we are local, this is an important part of our service.

Ability to discuss priorities with board

No

Yes

See above

Ability to review and analyze defects

No

Yes

This is part of the value added we bring as engineers

Ability to design repair solutions

No

Yes

See above

Ability to monitor construction and repairs

No

Yes

See above

Ability to provide ongoing consulting when necessary

No

Yes

See above

Ability to consider and plan for improvements

No

Yes

See above