reserve fund analysis software
Reserve Analysis and Management Made Easy!
Reserve Fund Analysis Professional (RFA Pro) is Reserve Fund Study or Depreciation Report preparation software. RFA Pro is compliant with the International Capital Budgeting Institutes Generally Accepted Reserve Study Standards. RFA Pro is the Canadian brand of the PRA System which has been widely used in several countries over the past 30 years and is continuously being updated.
RFA Pro is a user friendly web based platform creating organization and efficiencies well beyond the cost. Time is money and the flexibility allows the reserve planner to provide superior service and the data and funding plans provided to the client in an easy to read format.
Frequently asked questions
The original DOS system was released in 1989 and the Internet version was released in 2007.
Reserve Study Providers, Property Management Companies (wholly owned and timeshare/vacation ownership), individual associations, CPAs, Real Estate Developers, Insurance Valuation Adjusters, Schools, Churches; basically, any entity that is trying to project future costs for maintaining real and personal property.
RFA Pro’s core calculations are done on a monthly basis which allows for tracking individual financial instruments and is the only system that has received a Quality Assurance Evaluation from a Certified Public Accounting firm.
In the RFA Pro System, you can setup Sites which would hold multiple properties. A Site could represent different management companies, multiple locations, etc.
Yes, export also, update worksheet, import back in.
When you download the blank worksheet the field names will be at the top for Description, Category, etc. There is also RFA worksheets that can be printed for with current data and placed on a clip board to gather data. This will be mute when we have the system working on tablets and iPads.
If I understand what you are asking, you can currently segregate items by Category and we will be probably adding a sub-category. You can sort and print in every combination.
Users currently cannot set overall Property Criteria Definitions. This is a one-time set up for a property and depending on what is trying to be accomplished, a basic setup could only a few minutes.
If you are rolling the analysis date forwards, adjusting the items that need to be rescheduled, finalizing financial analysis, producing the final report with auto table of contents and page numbering, if it takes more than hour you are probably not taking advantage of the system. The money is in the updates.
It is unlimited support. After a user gets through their 1st and 2nd report, we barely hear from them. We have two users that have three analysts each and they did over 600 reports each last year.
We are set up to do and have addressed the issues it but it isn’t going to be immediate. RFA Pro is always in active development. There is no one else out there actively developing or updating what they are offering.
We use Google Cloud Platform. All our servers are Windows Server 2008. We host our own SQL Server with a central database. We have an option to host a complete individual system on a private server with VPN access.
This is the AICPA report from their Audit and Accounting Guide for Common Interest Realty Association. This report is required in the association’s annual audit. This is their format. This sample report has analysis date is July 1, 2010, 6/30/2010 would represent the balance as of end of the previous year and the beginning balance as July 1, 2010.
RFA Pro has reports that do as of the analysis date and project forwards on an annual basis up to 40 years.
This is a timeshare feature where maintenance fee billings go out let’s say December. You can tell the system when will these fees be deposited, i.e. 50% received in January, 25% received in February, etc. This gives a more accurate calculation of interest earned based on when the cash is deposited on a monthly basis. Also, if maintenance fees are not monthly, they could be quarterly, semi-annual, etc.
No ownership selections are required in RFA Pro Project Definition. You can have proportional or fixed based on model types.
You have complete control of the financial plan with the features in Global Parameters.
Current cost as of analysis date has inflation applied to it calculate the future cost.
CLARITY, COMPLIANCE AND QUALITY
RFA Pro has been endorsed by Associated Reserve Planners of Canada (ARPC) and complies with the International Capital Budgeting Institute’s software Standards. The included narrative reports and financial exhibits ensure compliance with these standards and the Financial Reporting & Assurance Standards Canada. RFA Pro has been independently audited for accuracy.