Contents of studies
 29. (1) A reserve fund study shall consist of a physical analysis and a financial analysis.  O. Reg. 48/01, s. 29 (1). (2) The physical analysis shall consist of, (a) the component inventory of the corporation; and (b) an assessment of each item in the component inventory that states its actual or estimated year of acquisition, its present or estimated age, its normal expected life, its remaining life expectancy, the estimated year for its major repair or replacement, its estimated cost of major repair or replacement as of the date of the study, the percentage of that cost of major repair or replacement to be covered by the reserve fund and the adjusted cost resulting from the application of that percentage.  O. Reg. 48/01, s. 29 (2). (3) The financial analysis shall consist of, (a) a description of the financial status of the reserve fund as of the date of the study; and (b) a recommended funding plan projected over a period of at least 30 consecutive years, beginning with the current fiscal year of the corporation, that shows the minimum balance of the reserve fund during the period and, for each projected year, (i) the estimated cost of major repair or replacement of the common elements and assets of the corporation based on current costs for the year in which the study is conducted, (ii) the estimated cost of major repair or replacement of the common elements and assets of the corporation at the estimated time of the repair or replacement based on an assumed annual inflation rate, (iii) the annual inflation rate described in subclause (ii), (iv) the estimated opening balance of the reserve fund, (v) the recommended amount of contributions to the reserve fund, determined on a cash flow basis, that are required to offset adequately the expected cost in the year of the expected major repair or replacement of each item in the component inventory, (vi) the estimated interest that will be earned on the reserve fund based on an assumed annual interest rate, (vii) the annual interest rate described in subclause (vi), (viii) the total of the amounts described in subclauses (v) and (vi), (ix) the increase, if any, expressed as a percentage, in the recommended amount of contributions to the reserve fund over the recommended amount of contributions for the immediately preceding year, and (x) the estimated closing balance of the reserve fund.  O. Reg. 48/01, s. 29 (3). (4) In preparing or updating the component inventory of the corporation, the person conducting the study shall review, (a) the declaration and description; (b) if any, the current by-laws or proposed by-laws of the corporation establishing what constitutes a standard unit; and (c) if there is no by-law described in clause (b), a copy of the schedule that the declarant intends to deliver or has delivered to the board under clause 43 (5) (h) of the Act.  O. Reg. 48/01, s. 29 (4). (5) In preparing or updating the financial analysis described in subsection (3), the person conducting the study shall review, (a) the most recent audited financial statements of the corporation or, if section 60 of the Act does not require the corporation to appoint auditors, the most recent financial statements of the corporation; (b) all reciprocal cost sharing agreements, if any, of the corporation; (c) the most recent reserve fund study of the corporation; and (d) the most recent notice, if any, of future funding of the reserve fund sent to the owners under clause 94 (9) (a) of the Act.  O. Reg. 48/01, s. 29 (5); O. Reg. 180/17, s. 28.