Nevada

Greg Libke, RSS

Who we are

  1. We wrote the book on reserve studies - "Reserve Studies - The Complete Guide"
  2. We wrote the standards on reserve studies - ICBI's Generally Accepted Reserve Study Standards - Facilities Advisors CEO Gary Porter is also president of the International Capital Budgeting Institute (ICBI)
  3. We use certified software guaranteed for accuracy - Our Facilities 7 internet-based software has been certified by ICBI and tested by an independent CPA firm

Nevada Revised Statutes (NRS) 116 establish the specific requirements for reserve studies in Nevada.  These statutes also require that reserve preparers in Nevada be registered by the State Department of Real Estate.  Gary Porter, CEO of Facilities Advisors International is registered as Nevada Reserve Specialist, certificate No. 186, and Greg Libke and Robbie Pepper also hold Nevada RSS permits.

The State of Nevada has established a Commission for Common Interest Communities and Condominium Hotels to monitor activities of the homeowners association industry within the State.  The Commission has also published Reserve Study Guidelines prepared by the University of Nevada in 2003.

Facilities Advisors has been preparing reserve studies since 1982, and in Nevada since 2006. We have prepared numerous reserve studies for all types of associations; condominiums, planned developments, timeshare Decorative block wall at street with desert landscaping. associations, and cooperatives. Our reserve study reports are unique - they are designed to meet your statutory requirements, to serve as a maintenance plan, and the reports and disclosures are designed to save you time. You save time in budget preparation because we prepare the reserve disclosures for you. Our unique reserve study comparison exhibit also saves you time by showing you where our current report differs from the previous report, no matter who prepared the prior report. It helps report users understand and evaluate what has changed since the prior report was issued.

Our Goals for your Reserve Study

Our first goal is to make your reserve study something more than simply the fulfillment of a statutory obligation. We believe that the reserve study should be a functional tool used in the financial management of the association. This means that the reserve study needs to be realistic. Too often, we hear from new clients that they don't believe their prior reserve study was correct. We believe that the reserve study should be a reflection of the Association's actual maintenance plan. Therefore we will ask you questions about recently completed and planned future reserve expenditures. While none of us can accurately predict the future over the next 30 years, the association's facilities manager usually has very concrete short-term plans (over the next 1 to 3 years). We attempt to incorporate that plan into the reserve study, otherwise the reserve study serves little purpose.

Our second goal is to make sure that your reserve study complies with statutory requirements.

Gary Porter RS, CPA, FMP, RRC, RSS

Gary Porter

Gary has provided financial services to condominium and homeowners associations since 1976. He has authored five books and more than 400 articles on association financial matters and has made dozens of presentations to industry groups.