BVSA Projects List / How Projects Are Funded
The Reserve Fund (also called replacement fund) consists of funds put aside in reserve for the replacement of major components of a community’s common property. Typically, the Reserve Fund might be used to replace asphalt paving, air conditioning and heating of common property buildings, swimming pools, tennis courts, and many other varied property components. Adding a new item that would be a major improvement would be expensed through a Special Assessment or approved Capital Project.
Reserve Fund, Capital, DFAC and Special Assessment Projects
The list for the Reserve Fund, Capital and Special Assessment Projects is determined each year as part of the new fiscal year budget preparation. This list is generated from our Reserve Fund Asset Management System based on the life expectancy of the item. The list is reviewed by the BVSA Department Managers, Finance Committee and Board of Directors. This list is then edited for what truly needs to be replaced based on wear and tear and operational demands. The replacement schedule of the items on the list are moved forward and backward, based on the individual review of each item. This list then becomes the starting point for the fiscal year of what projects need specifications, planning, bidding and project management.
The projects list is provided for any home owners, individuals, businesses, and BVSA organized clubs to submit bids on these projects for the work that needs to be performed or items to be purchased for replacement. Indicated on the list is the basic description of the item, asset category type, and also indicated is whether a formal Request for Proposal (RFP) or Bid Format will be required. The list is subject to change based on BVSA Board of Directors approval and timing of projects slated for the fiscal year.
This list could also contain projects funded by Bear Valley Springs Community Recreation Facilities Foundation (BVSCRFF) 501(c)3 tax-deductible donations, or DFAC Projects funded by Recreational tax money (DFAC) that BVCSD receives now from Kern County.