ON SITE UPDATE AND REVIEW STUDY (Annually if needed)

1. Assess each reserve component’s condition based upon an on-site visual observation
2. Adjust the Use Life, Remaining Use Life as needed based upon visual inspection
3. Adjust Valuation Estimates of Repair or Replacement to current costs
4. Update current reserve account balance and budget projections
5. Update current reserve account earned interest rates and inflation factors
6. Test the Current Fund Status and other Funding Plan using the Cash Flow Method
7. Develop and recommend a practical Funding Plan

These Studies address the normal deterioration of properly built and installed components with a predictable life expectancy. Catastrophic or events beyond reasonable predictability are not considered as a depreciable factor in this report.