2012 REPLACEMENT RESERVE BUDGET*
	BUDGET ITEMS					COST
	Erosion & Drainage					$14,420
	Landscape Sprinkler System					$5,150
	Concrete Driveways					$8,385
	Concrete Lead Sidewalks					$1,910
	TOTAL COST					$29,865
	*Reserve figures budgeted by The Villas at Falls Run Finance Committee
	for 2012 are based on a 2011 Reserve Fund Update from  Mason & Mason
	Capital Reserve Analysts, Inc., Fort Valley, VA.