First, there are a couple of documents that pertain. ASTM is a quasi- governmental agency that writes standards for a wide range of manufactured products in the US.
“Fund your reserves above the 70% level”. That’s what you thought I would say, because our industry has been telling you that for years, right? The answer is deeper than that.
The High Price of Paying for Reserve Projects with a Loan
So your roof just failed, and it’s going to cost the Association $250,000. On one hand, it wasn’t really surprising, because the roof is 15 years old, right on track for this type of roof failure.