The Community Associations Institute (CAI) is pleased to announce that it has reached a major milestone with its Reserve Specialist (RS) designation. At the end of February, the 50th RS designee was named.

According to Ann-Marie Johnson, Director of Credentialing Programs at CAI, "the highly selective Reserve Specialist designation is awarded by the CAI only to experienced, qualified Reserve Specialists. CAI is pleased to be able to recognize the extraordinary expertise of these 50 designees."

Reserves are funds—set aside by community associations from assessment income—that are used for long-term repair and replacement of a community association's major components, such as roofs, streets, sidewalks, central heating and cooling plants, swimming pool equipment and tennis courts.

Reserve Specialists can help ensure an association is planning for future needs, reducing the chance that special assessments will be levied to pay for unexpected expenses. One of the most important functions of a Reserve Specialist is the conduct of a reserve study, an analysis of an association's reserves that helps in planning for the long-term financial welfare of a community association, conducted according to a strict set of standards developed by CAI.

Reserve Specialist designees have a wealth of experience in the diverse aspects of component analysis and financial planning for community associations.

To qualify for the Reserve Specialist designation, a candidate must meet the designation's requirements, including:

• preparing at least 30 reserve studies within the last three years;
• holding a bachelor's degree in construction management, architecture or engineering (or equivalent experience and education); and
• maintaining professional level CAI membership in good standing.

The Community Associations Institute is a nonprofit association created in 1973 to educate and represent the nation's 231,000 community associations—condominium associations, homeowner associations and cooperatives. CAI members include homeowners, associations and the professionals who provide products and services to them.