2 1 General Information about Depreciation Reports 2 Major Findings Agenda1 General Information about Depreciation Reports2 Major Findings3 Cash Flow Projections
3 1General InformationDepreciation Reports have been mandated in an effort to move from reactive action to proactive action
4 Reserve Fund Studies (a.k.a. Depreciation Reports Other provinces with similar legislationOntario, Alberta, New Brunswick, etc. * Also mandated in 30 US StatesOther provinces have drafted legislationOntario is mandated to be fully funded (i.e. Special Levies are not allowed)BC legislation specificsReports to be updated on a 3-year cycleFew regulations after report is acquired
5 2Major FindingsDepreciation Reports are providing strata corporations an understanding of their assets and the costs associated with maintaining and / or replacing them.
6 Major Findings Immediate Term & Year 1 $ 15,000 Gutters & Downspouts $250,000 Cedar roof system (as is)$ 10,000 Courtyard walkways$ 10,000 Ramp handrails$ 10,000 Garage structure investigation$ 25,000 Garage repairs$ 5,000 Building Envelope repairs$ 15,000 Windows (annually for repairs & replacement)$ 5,000 Suite identification numbers$100,000 DHW plumbing$ 1,800 Elevator repairs$ 10,000 Security cameras $456,800
7 Major Findings Year 2 $ 75,000 Balcony waterproofing membrane $ 10, DHW #2 replacement$ 30,000 Air handling unit $115,000Year 3$ 6,000 Depreciation report update$ 5,000 Gym Flooring$ 2,000 Refurbish gym (renovate / paint etc.)$ 2,000 Upgrade equipment $ 15,000
8 Major Findings Year 4 $105,000 Hallway flooring $ 75,000 Hallway walls & ceilings$ 45,000 Stairwell flooring$ 30,000 Elevator interiors$255,000Year 5$ 5, Landscaping$ 15,000 Enter phone replacement$ 3,500 Seismic safety valves (optional)$ 23,500