RRA Board Report | Reserve Study Audit

Joseph Weber & Amy Mudano

 

In early 2026 The RRA Board commissioned a reserve study that analyzed the neighborhood’s assets and expected expenditures.  The goal of the study was to ensure enough money is set aside in the reserve fund to handle upcoming maintenance items and weather any large expenses.
 
With the last HOA payment made to the city to cover the dam repair, the board wanted to ensure the cash reserves were appropriate to handle future large issues that may arise.  Additionally, some states have started issuing guidelines or laws requiring periodic reserve studies to ensure solid financial health.
 
The study found that the Riverchase Homeowners Association is currently very appropriately funded based on our neighborhood size and expected maintenance schedule for assets such as the signage and neighborhood monuments.  Our current reserve balance was very close to the suggested budget, with a recommended slight addition of $4400 to cover future needs.