Every five years, Strathmeade Square Community Association contracts with external experts to perform a Reserve Study. This is a requirement under the Virginia Property Owners Act (the Act) and is intended to provide guidance and spending priorities for capital maintenance and improvements over the next five-year period. The study sets out areas to be addressed, estimates of the costs, and suggested yearly allocations to the community’s Reserve assets to ensure there is sufficient capital to cover the projects outlined in the study as well as for emergencies while growing the Reserve funds for the future.

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Major examples of Reserve expenditures in recent years are the major rehabilitation of the Pool, repaving of the paths on the east side of the community, annual curb and gutter repair, and stormwater management projects behind Breckenridge and Victor. Items such as landscaping, snow removal, trash, etc. are paid for out of general operating funds. Both are funded by the monthly homeowner assessments, as well as any special assessment that might be levied from time to time after approval by homeowners A line item in the Strathmeade annual budget transfers monies to the Reserve funds utilizing the Reserve Study as a baseline for the amount to be allocated.

The last comprehensive Reserve Study was done in October 2021. In addition to the normal items historically looked at every five years, the 2021 study for the first time included stormwater issues that will become ever more prevalent with climate change. The 2021 study is the planning document currently being utilized by the Strathmeade Board of Directors to determine proper Reserve allocations and project execution, as envisioned by the Act.

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