What documents do we need for a Reserve Study Update?

Reviewed on October 12, 2026

Keep the latest issued study, completed-work records and current reserve financial records available. The agreed scope determines which records are needed next.

Start with what you have

For the first scope request, explain the association's need and what prior study and changed-work records are available. Follow the current form's instructions. This checklist is not a requirement to upload every financial record before starting.

Keep the most recent issued study, component schedules and funding plan available. Identify the association, property and report date. Earlier editions can help explain a change. If the baseline is uncertain, read when an Update can fit.

Gather records as the scope becomes clear

The agreed work determines which supporting records are needed to complete the reviewed Update. Keep each record's date and purpose clear.

Staged Update preparation checklist
Record to keep available	Why it matters	If missing
Latest issued study and schedules	Establish the predecessor, component inventory and prior assumptions	Identify the edition and who holds the complete report.
Contracts, invoices and completion records	Distinguish partial work, full replacement and remaining scope	Name the project and ask the authorized record holder for its support.
Reserve balance, budget and contribution records	Align available funds and actual contributions to a stated date	Identify the financial as-of date and the person who can reconcile it.
Capital expenditures and unpaid commitments	Separate amounts already paid from obligations still outstanding	List the open amounts as unresolved rather than treating them as zero.
Specifications, inspection findings and current proposals	Review quantities, condition, timing and cost evidence	Identify the component and the measurement, quote or clarification needed.

Keep changed-work evidence together

Identify which component and portion of the property each contract or invoice covers. A repair to one area should not be recorded as replacement of the entire component. Keep specifications and warranties where available.

Completed-project guidance explains the difference between work finished and work still planned. Keep prior component entries and supporting project history together for historical-cost review.

Bring financial facts to the same date

A budgeted transfer and a transfer actually made are different facts. Mark projected amounts as projected. Identify reserve cash, expenditures, committed or unpaid project amounts and subsequent changes that could affect the position being reviewed.

The budget-season checklist helps the board connect those dates and changes to its next decision.

Identify missing records and share them safely

Name each missing record, its date if known, and who can provide it. Missing information remains an open question until resolved; it does not become an assumed fact.

Share association documents only through the authorized process. Supplied information requires review before it becomes an accepted study input. Requesting a scope does not itself complete an Update or establish professional eligibility.

Sources

ICBI Generally Accepted Reserve Study Standards, revised July 2020, Field Standards: component analysis and retained evidence.

Primary source accessed October 12, 2026. ICBI provides professional guidance, not a legal intake checklist or a certification of Ballast. The preparation and cost-basis guidance above describes Ballast's planning approach.