It is just beginning to be that reserve study time of year. Why? It takes a little while to select a reserve professional and get the reserve study scheduled. And, you need to have the reserve study completed before you can complete your budget for next year.
Although state statutes generally permit anyone to perform the reserve study, asso-ciations should consider engaging a qualified, independent reserve professional. There are two professional designations available; the PRA (Professional Reserve Analyst) conferred by APRA, the Association of Professional Reserve Analysts, and the RS (Reserve Specialist) designation conferred by CAI (Community Associ-ations Institute). Both of these designations require the reserve professional to have completed at least 50 reserve studies and have at least one year of reserve study experience.