Proposed changes to The Villages Association Policy APo 304 Replacement Reserves Policy were approved for publication and member comments for the required notice and member comment period prior to formal approval consideration at the June 24, 2025, monthly board meeting. The purpose of the proposed changes is to modernize and align Reserve Account analysis with current updated software. This will improve the accuracy and efficiency of reserve planning.
As reported at the board meeting, in prior years The Villages staff was responsible for maintaining the Association reserve accounts, utilizing spread sheets and basic accounting methods. In an attempt to maintain an acceptable balance in our accounts, four rules were written into APo 304. These rules were found in APo 304 5 (b).
The Association Board authorized management to hire a Certified Reserve Analyst to modernize and refine our reserve accounts, and we have installed reserve software named Smart Property.
Smart Property has given the ABOD the ability to analyze our reserve plans and achieve results, in less time with greater accuracy in real time allowing us to protect, maintain and enhance Association assets – our homes.
Due to the sophistication of Smart Property, requirements of Davis-Stirling and the hands-on approach of our Certified Reserve Analyst, the rules in APo 304 paragraph 5 (b), as written, are no longer needed.
Therefore, it is recommended that the rules paragraph 5 (b) 1 through 4 in Apo 304 be deleted and replaced with the updates as reflected in paragraph 5, along with the additional updates as reflected in the redline version of APo 304.
Response to the proposed policy changes may be made by one or more of the following methods: 1) Participation in the discussion of the proposed changes at the Association Board of Directors at the June 24 board meeting, or 2) via written comments delivered to the Board through Board Services at BoardServices@the-villages.com
Deletions are noted in strikethrough font; additions are underlined.
