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FORESIGHT FINANCIAL SERVICES, INC.
AN INDUSTRY LEADER
The management of Common Interest Developments is a complicated and challenging endeavor and much of the focus is on financial control. Since its inception in 1986, Foresight Financial Services, Inc. has concentrated its expertise on the issues and complexities related to reserve analysis and long-range budgeting. Our dedication to service and our commitment to quality have earned us recognition as a leader in the Reserve Study industry. As consultants to Common Interest Developments, Accountants, Management Professionals, and Attorneys our service can play a vital role in the implementation of an effective financial plan.
As you would expect, our program is designed in accordance with the requirements set in California Civil Code Section 1365, complies with the Department of Real Estate - Reserve Study Guidelines, conforms to the American Institute of Certified Public Accountants Audit Standards and is continually enhanced to accommodate increasingly rigid specifications.
We recognize that accurate information is one of the most valuable resources in today’s complex environment. Our Reserve Study has set the standard to which all others are compared. Our proprietary software can accommodate the most demanding of specialized needs and is routinely enhanced in response to this dynamic industry. Unfortunately, the “canned” software used by our competitors makes it difficult to measure up. Our exclusive report format is well known, yet unequaled in the industry. It is specifically designed to be comprehensive, easy to understand, satisfy all legal requirements, and provide unparalleled detail. In addition, we provide a photographic journal as a standard part of our analysis.
Foresight Financial Services, Inc. is solidly committed to providing the finest analysis available. Accordingly, Reserve Studies are all we do. We are specifically organized for efficient performance in this unique field. We’re not an engineering firm, construction company or CPA firm who merely sideline in the industry.
We are dedicated to prompt personalized service and are always available to answer questions, provide guidance, or accommodate specialized needs. We also understand that each client is unique, presenting its own special set of challenges and requirements, so we don’t cram you into a generic “one size fits all” approach. You’re not just another account number to us and you won’t get lost in a frustrating maze of “Site Inspectors”, “Valuation Consultants”, “Project Managers”, etc.
Serving all Common Interest Developments including: Condominiums & Townhomes, Timeshares & Resorts, Commercial & Industrial Projects, and Planned Unit Developments, we are confident you will find our service second to none.
OUR PRESIDENT
Larry Tarantino possesses a unique blend of education and professional expertise that makes him particularly effective as a Reserve Analyst and Budgeting Specialist. Mr. Tarantino holds a Bachelor of Science Degree in Accounting and has attained advanced management positions, including Directorships and Controllerships, in Fortune 500 companies. He has extensive professional experience specializing in the areas of Finance, Cost Accounting, and Long-Range Budgeting.
Mr. Tarantino is also licensed in the State of California as a General Building Contractor and has successfully owned and operated a construction company specializing in the maintenance, renovation and improvement of Common Interest Developments.
FORESIGHT FINANCIAL SERVICES, INC.
RESERVE ANALYSIS SECOND TO NONE
LEGAL COMPLIANCE - As you would expect from an industry leader, our program is designed in accordance with the requirements set in California Civil Code Section 1365 including AB2718, complies with the Department of Real Estate - Reserve Study Guidelines, conforms to the American Institute of Certified Public Accountants Audit Standards and is continually enhanced to accommodate increasingly rigid specifications.
COMPREHENSIVE – We provide an Executive Report detailing the assumptions and results of our Study, and a Funding Analysis which determines ideal reserve balances, calculates annual and monthly funding requirements and evaluates the relationship between actual accumulated funds and ideal reserve balances. Additionally, sophisticated projection models including 30-year cash flow analysis are presented for sound financial planning.
EASY TO UNDERSTAND - An analysis is only useful if you can understand the results! Our reports are specifically designed, and well known in the industry, to be straightforward and easy to understand.
NO SMOKE & MIRRORS - The only way you can truly have confidence in an analysis is if you fully understand how it arrives at its conclusions. Our format provides a simple step by step presentation from the very beginning of the process to our ultimate conclusions. All formulas and computations are fully explained and you won’t need an advanced degree in Mathematics or Accounting to follow along.
PRACTICAL & REALISTIC - Our analysis is predicated on practical “real world” applications for your specific geographical area, not theoretical engineering standards or national averages.
THOROUGH - Some reserve components are obvious, however many are not and therefore often overlooked. Our experience and expertise in conducting a proper field inspection as well as scrutinizing relevant governing, legal and historical documentation insures that all items that may represent a reserve component will be properly addressed.
EXCLUSIVE - Our proprietary software can accommodate the most demanding of specialized needs and is continually enhanced in response to this dynamic industry. Our exclusive report format is well known, yet unequaled in the industry. It is specifically designed to be comprehensive, easy to understand, satisfy all legal requirements, and provide unparalleled detail.
PHOTO JOURNAL – Sometimes there is simply no substitute for photographs. Our Reserve Study always includes a photographic journal of reserve components in conjunction with an on-site inspection and there’s never an additional fee.
UPDATES - As a cost-effective alternative we also offer a “computer update” option when a full reserve study with an on-site inspection is not warranted. At a greatly reduced cost we can update a previous reserve study even if it was prepared by someone else. You should also note that our computer update will include our complete report package, not a scaled down version or “mini” report.
DRAFT REPORTS - In keeping with our dedication to thoroughness and accuracy our standard procedure provides for the submission of a draft version of all reports. They are provided for your review and approval prior to final publication of the Reserve Study.
SUMMARIES - Our Executive Summary is specifically designed to satisfy all legal reporting requirements. It eliminates the confusion over which information to include in the annual budget. All critical information is presented in summary format, which can also serve as a meaningful working document when making crucial financial decisions.
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