ICBI Software Standards
Please visit CapitalBudgeting.org for complete set of ICBI's (International Capital Budgeting Institute) Generally Accepted Reserve Study Standards
Software Standards – Section 400
The Software Standards are necessary to ensure reliability and consistency of calculations
401 Calculation Standards
401.01 – Software must meet ICBI standards of accurately calculating future costs and expenditures considering the effects of inflation or deflation, and including one-time, non-repeat expenditures, and future funding amounts including special assessments, interest earned, and income tax calculations
402 Percent Funded Calculation Standards
402.01 – Software must be able to accurately calculate all three methods of calculating percent funded:
- Current cost method
- Inflation adjusted cost method
- Future cost method
403 Required Reports
403.01 - Software must be capable of producing all reports required by ICBI in an appropriate format. While exact formats are not dictated, the required reporting elements for each financial exhibit are specified
404 Timeshare requirements
404.01 - Software meeting timeshare certification requirements must be capable of tracking interior unit component inventory by unit in addition to tracking non unit common area components
Facilities 7 Software Training Modules
This list of training modules will evenutally consist of approximately 30 Adobe documents containing screenshots to show users how to perform various functions within the Facilities 7 software system.
The Future of Facilities 7 software
At Percipient Software, Inc., our philosophy is derived from our Company name: Percipient - meaning having perception, discriminating, perceiving or capable of perceiving. A "percipient" analysis of a facilities maintenance system is possible only with software capable of providing the information you need to make knowledgeable decisions. Only Facilities 7 can give you that information. Facilities 7 creates the integrated information management system necessary to manage facilities maintenance operations.
At Percipient Software, Inc., we understand how the process is SUPPOSED to work, so we designed Facilities 7 so your facilities maintenance system can work the way is is supposed to. In order to do this, the system must be capable of managing ALL portions of the maintenance management system. Facilities 7 presently consists of just the Reserve module. This is the most important module, as this is where physical components are identified. Our goal is to have Facilities 7 grow into seven separate modules, all operating from a single, integrated database. You will be able to easily manage the entire facilities life cycle – from anywhere – at any time. The 7 modules comprising the Facilities 7 software system are designed to meet the entire life cycle maintenance management needs of all your physical facilities and satisfy regulatory, statutory, and industry standard reporting requirements. The 7 modules comprising the Facilities 7 system are:
Facilities 7 four critical report features allow you to get whatever information you want in the format you want.
1) Virtually all reports can be designated to display in either monthly or annual format.
2) Virtually all reports can be designated to display at either category, major component, or minor component levels.
3) Our report builder allows each user to define their own report settings and save those settings. Then, you can specify in what order the entire set of exhibits should combine to print as a single, unified report.
4) All individual reports are generated in Telerik (a common reporting format) and can be exported to Adobe Acrobat (pdf), MS Word, or MS Excel.
Reports are grouped into three general types:
1) Administrative Reports
Organization – Displays all details of organization, by section
Association – Displays all details of association, by section
2) Narrative Reports (report writer)
3) Financial Exhibits
ICBI Statement of Position
Annual Cash Flow Analysis
Expenditure Matrix by Category or Component by Year
Expenditure Summary by Year by Category or Component
Expenditure Detail By Year
Expenditure Detail By Component
Percent Funded Exhibits
Percent Funded Annual by Category or Component
Component List Exhibits
Component List by Category, Major Component, Minor Component
Component List by Location
Component List Inventory with Photo
FASB Supplemental Disclosures by Category or Component
California Statutory Davis Stirling Disclosure Summary
Nevada NRS 116 Statutory Disclosure Summary
Delaware Statutory Disclosure Summary
The unique filtering capabilities built into Facilities 7 make this an extremely powerful management tool. Because every component has location fields, every component can be tracked by location.
As an example, in a timeshare association, a chair could be located in a specific unit, and the drill down search / filter might be:
1) Maui Sunset Resort
2) Unit 212
3) Living room
The above search by location would display ALL (minor) components in that location. You could either scroll through the components to find what you want or use the category and component filters to further refine your search. In this manner you can very rapidly search a large component database to locate the exact item you’re looking for.
The search function is also very useful in performing mass edits. As an example, if you discovered that sofas were now mispriced based on a single new purchase you just made, all you would have to do to update the pricing for all sofas is select the component you want for all (or selected) locations, then enter a single edit command, and all replacement costs would be changed. It takes only seconds to accomplish in Facilities 7 what it takes hours to accomplish in other systems.