Reserve Study Module Features
General Features
Accessible from any web enabled device
User Access Controls
Multiple Windows on Screen
Management Company, Region and Association Hierarchy
Association Phases Set Up
Hundreds of built in Diagnostic Tests to ensure data integrity
Group Purchasing Support
Unit / Lot Features
Import Member List
Enter Unit / Unit Type
Match member with Specific Unit / Lot
Annual Assessment Billings Directly From Facilities 7
Component Data Features
Real time data updates
No Limit on Number of Components
Mass Edit Capability
Multiple Category Levels
Major and Minor component Levels
Multiple Activities per Component
Complete Multi-level Location Tracking
Auto Extension of Calculations on Year Rollover
Auto creation of Replacement Activity on Completion
Grouping of Components
Insert Images / Photos
Financial Calculation Features
Regular Reserve Assessments – adjustable annually
Special Assessments
Loans
Interest Rate
Income Tax Rates on Interest Income
Inflation Rate
Contingency Rate as Percentage of Replacement Cost
Contingency as Flat Amount
Balance Allocation Overrides
Ability for Multiple “What If” Funding Scenarios
Annual Assessment Adjustment Factor
Reporting Features
Produce Reports in Telerik
Report Builder
Export Reports to Excel
Export Reports to Word
Export Reports to Adobe Acrobat
Facilities 7 is a dynamic, forward looking, smart facilities management system. Its basic data structure is unique, and allows for maximum flexibility in data management and reporting.
Most reserve study software essentially mimics the performance of Excel, meaning the financial calculations are irrevocably joined to the component. In contrast, Facilities 7 can attach financial calculations to components at either the major or minor component levels. This means that we can attach multiple activities to the same component. As an example, we would identify the slurry seal and overlay as the two major components for streets, and attach each individual street’s slurry seal and overly as the minor component. Why is this important? Again, accuracy of the financial calculations.
To illustrate how calculations might work, let’s follow our example of streets above. Assume that an association has 35 streets.
In an old style single category / single component level software system that means you’re going to have either two components (slurry seal of streets and overlay of streets) or 70 components, identifying each street individually. Those are your ONLY two options for seeing the data. If the individual streets are displayed you have too much data (70 components) to easily absorb. If you have grouped the data into two components, you have too little data and your spreadsheet type calculations can’t be accurate unless every street is on the exact same maintenance cycle. That doesn’t happen for two reasons; (1) the streets do not wear out at the same rate, and (2) the association will spread the maintenance and resulting cost over several years to ease cash flow.
In Facilities 7, if all streets were on the exact same cycle, we could perform financial calculations at the major component level for the two major component activities we identified (slurry seal and overlay). But, since the activities most likely do not occur on the same cycle, we will tell Facilities 7 to perform the financial calculations at the minor component level for our two components. The major component then simply acts as a “place holder” to accept the totals of all the minor component calculations. In this manner you can get extremely accurate calculations while still summarizing the data into an easily understandable format.
Other software features
Facilities 7 has a “developed specifically for the web” look, as contrasted to most other systems which still have that “desktop” look and feel. Facilities 7 also has many other unique features that provide benefits to you, the user, in terms of power and performance. These features put you in total control of your facilities maintenance management.