Reserve Study – Annual Expenditure Detail

@peepso_user_21(Katherine S.) This was all scraped from the full report which is available in the Files for Owners section of the website.

@peepso_user_2(Dan) Thanks!

@peepso_user_21(Katherine S.)
*Useful life* - the number of years between when something is put in service vs when it needs to be replaced. It’s another way to say how long something typically lasts.
For example - the hot water tanks have a useful life of 12 years.

*Remaining life* - the number of years between now and when something needs to be replaced.
For example - the hot water tanks have a useful life of 12 years and they were installed in 2012. Since it is 2023, they have 1 year of remaining life.
When they were inspected last fall it seemed like we could get an additional year out of them so the remaining life was adjusted to 2 years.
This additional year gives us more time to save $ to replace it but could also create risk for other components connected to it. These tanks rust. That rust goes through the boilers, pump, filters and potentially shortens their lives. And these tanks will eventually fail. Failure could mean flooding in that part of the building and the associated remediation costs that go along with it.

@peepso_user_2(Dan) Thanks!