The Depreciation Report and Reserve Fund Committee (DR&RF) is composed of volunteer residents of OGT who have expertise in financial planning and building/common area issues. 

The committee's purpose is to: 

1. Study and understand the 30-year DR projections and maintenance/replacement schedule for OGT elements.. 

2. Ensure all parties have a shared understanding of the DR through access to the Contractor preparing it.. ; a

3. Provide guidance to Council on appropriate Reserve Fund contributions to meet DR recommendations and maintain approved Maintenance requirements. 

The goals of the DR&RF Committee are: 

1. To provide financial planning for maintaining OGT assets using the DR as a guide.. 

2. To keep Strata fees in line with economic/inflationary movements.. ; a

3. To support the Operating Budget goal of $20-$25K per year.

4. To educate OGT residents on the purpose and importance of the DR through the OGT website. 

As of: 11 Nov 25

Council Lead: Russ Bula

Members:

1.  Laurie White

2.

3.

4.

5.

As of: 11 Nov 25

1. TBA

As of: 19 Oct 24

1. Plan new expenditures beyond Operating expenses with guidance from the Depreciation Report & Reserve Fund (DR & RF) study.

2. Decide on whether Windows and Doors should be re-introduced into the DR or be treated as operating expense, refer to 2017 DR.

As of: 27 Dec 23

1. Work with all Advisory Committees to understand their recommendations for short to long term projects that will require Reserve Fund support and timing.

2. Make recommendations to Council regarding current strata contributions and future requirements against Advisory Committee recommendations and scheduled or unscheduled DR projects.

3. Meet with Mountainside Enterprises by 01 May 24 to discuss any adjustments that might be recommended to our contributions vs future work to be done and review these findings with Council.

Best Outcome:

1. Starting in FY24/25, Preventative Maintenance and common area asset replacement projects are all managed and funded as described by a current (3 year refresh) Depreciation Report.

2. The Reserve Fund (RF) is adequately contributed to annually so scheduled work is carried out without interruption or Special Assessment.

3. This Council and subsequent Council’s have a better understanding of the importance of the 30 year Depreciation Report (DR) and work with Mountainside or similar to ensure the DR reflects all common area assets that will eventually require repair or replacement funding and timing from the Reserve Fund.

4. OGT members support and appreciate Council’s commitment to maintaining the value of the common area assets using the DR as a guide along with the necessary funding in place (RF).