The Authority for Generally Accepted Reserve Study Standards

The International Capital Budgeting Institute (ICBI) is the independent standards-setting organization for the reserve study profession. ICBI established the only comprehensive, professional-level standards formally issued for the preparation and reporting of reserve studies.

ICBI standards are designed to promote:

• Clarity in methodology and reporting
• Consistency in professional practice
• Comparability across reserve study reports
• Confidence in reserve study outcomes

ICBI standards serve the public interest by providing a neutral, defensible framework for long-term capital budgeting and reserve study preparation.

Establishing a True Profession

The reserve study industry has existed for decades. The reserve study profession began in 2015 with the issuance of ICBI’s:

• Generally Accepted Reserve Study Principles
• Generally Accepted Reserve Study Standards

Professional-level standards are a defining characteristic of any recognized profession. ICBI provides that foundation.

Through collaboration with aligned organizations, the profession now includes:

• An agreed-upon body of knowledge
• Formal professional standards
• Academic education requirements
• Comprehensive testing of knowledge
• A professional credential
• Continuing education requirements
• Peer review and disciplinary frameworks
• A professional forum for dialogue and research

Together, this structure elevates reserve preparation from an industry practice to a recognized profession.

The Three-Pillar Professional Ecosystem

The reserve study profession is supported by three independent but coordinated organizations:

1. ICBI – Professional Standards

ICBI establishes and maintains:

• Generally Accepted Reserve Study Principles
• Generally Accepted Reserve Study Standards

These standards define the reserve study process, reporting framework, and required professional competencies. ICBI serves the public interest — not the interests of a trade organization.

2. BPCB – Credentialing and Proof of Knowledge

The Budgeting Professionals Credentialing Board (BPCB) administers the:

Registered Reserve Consultant (RRC)

The RRC is the only reserve credential requiring proof of knowledge through comprehensive testing.

Requirements include:

• 24 hours of required education
• Comprehensive examinations
• Continuing education compliance
• Peer review
• Ethics standards

3. ARP – Trade Organization & Professional Forum

Associated Reserve Planners (ARP):

• Provides education aligned with ICBI standards
• Supports continuing professional development
• Hosts conferences and technical programs
• Maintains research and information resources
• Provides a forum for professional collaboration

ARP supports the standards established by ICBI and the credentialing requirements administered by BPCB.