Condo Chat: Reserve Fund Studies: From Report to Real-World Planning

A Reserve Fund Study is more than a legislative requirement—it is one of a condominium corporation’s most valuable financial and strategic planning tools. This practical presentation will help board members and condominium managers interpret study findings, assess funding recommendations, anticipate major repair and replacement projects, and translate a 30-year forecast into a clear, actionable five-year plan.

This presentation provides condominium owners with a comprehensive overview of reserve funds and the critical role they play in the long-term financial health of their condominium corporation.

Topics will include an explanation of what a reserve fund study is (and isn't), the legal requirements surrounding it, and what should—and should not—be included in the study. We will explore how costs are calculated, the importance of accurate forecasting, and the potential consequences of underfunding.

The session will also address the question of whether reserve fund studies should be updated more frequently and examine the growing impact of extreme weather events on building components and reserve planning.

By the end of the presentation, owners will have a clearer understanding of how reserve funds function and why diligent planning and ongoing review are essential for protecting their investment.

Our Speaker: Shantel Kalakalo

Shantel Kalakalo is the President/Partner of KALHAM Consulting Ltd. Previously Shantel worked at Wade Engineering for nearly 18 years and has led the Reserve Fund group for 15 years. She has a passion for Reserve Fund reports and has shown remarkable dedication to this industry. Shantel is also a current Board Member of a condo (Treasurer/Account Signatory) and has owned condos in the past which confirms the practicality of advice offered.

• President/Partner of Kalham Consulting Ltd.
• Worked at Wade Engineering for nearly 18 years.
• Canadian Condominium Institute, Member.
• Condo Owner's Forum Society of Alberta (COF), Member.
• Strathcona County Condomium Association (SCCA), Member.
• Reserve Fund Analyst (reviewed more than 1,200 reports).
• Condominium Management experience.
• Client liaison/presents reports to Clients.
• CCI – North Alberta Chapter past Board Member for 10 yrs (Secretary/1st Vice President).
• Condominium Board Member – Treasurer

Our Sponsor: Kalham Consulting Ltd

KALHAM was established in 2022 as personnel purchased the assets of the Reserve Fund department from Wade Engineering. Key personnel have been completing Reserve Fund Studies/Life Cycle Costing Reports for the last 15 years. Currently we have eight (8) team members working on reports including two (2) engineers – one assesses the mechanical & electrical and another to stamp the final report.