Overview

The board of directors of a 3,000-home master-planned community with several neighborhoods, each with its own reserve study, wanted to see a combined reserve funding plan. For years, BRG had provided a funding plan for each neighborhood (cost center), and while that was useful, a combined funding plan, summing all of the plans’ numbers, would enable the board (and investment adviser) to track the yearly fund balances against the investment portfolio.

Major challenge

Making such a report easy to read and understand was a major undertaking for the design team. The team needed to find a commonality across all the separate studies (which are really stand-alone associations with the specialized software) so the software could pull the correct numbers from each study. Finally, there would need to be a detailed audit report for those clients who want to see the math behind the math.

Solution

BRG went to work designing a new report that takes all of the elements of the 30 year reserve funding plan, for each cost center, and combines them into a single, one page, easy to read funding plan. This new report displays to the client, and eventually the client’s investment adviser, the combined funding plan, for the next 30 years, so the adviser can quickly and efficiently develop an investment strategy that takes into account all of the separate studies. Overcoming the commonality challenge was a snap as the design team came up with a list function whereby any of the client studies we have in the BRG software, can be a member of the custom list, thus tying together elements of the funding plan. This List feature has allowed BRG to create several other custom reports across many clients for unique reporting, especially to management companies.