A Reserve Study is a budget planning tool based on the National Reserve Study Standards of the Community Associations Institute. Kipcon’s founder Mitch Frumkin, PE, RS, played an integral role in the development of these standards, which is reflected in the quality of report produced by our team.The standards dictate that each study identifies the common area components that the Association is responsible to maintain and replace. The Study consists of two parts, the Physical Analysis, and the Financial Analysis.