|Re: contingency fund questions||<– Date –> <– Thread –>|
|From: Sharon Villines (sharonsharonvillines.com)|
|Date: Wed, 11 Nov 2009 06:56:32 -0800 (PST)|
On Nov 11, 2009, at 1:18 AM, Jodi Coleman wrote:
I have read that severalplaces have 10% of their budget as a contingency fund. Is this 10% of your operating budget, or is this the whole budget including any additions to themaintenance reserves? Have folks found your systems to be adequate?
Ours is 10% of total budget, or it was. I realize we haven't raised it since we set it up several years ago.
But we haven't used it either. We have reserves for replacement and for maintenance that we have used for "emergencies." Damage from a recent lightning strike was covered by replacement reserves. (We probably won't file an insurance claim because our management company said only use that for major damage like a fire. Otherwise your premiums go up.)
Sharon ---- Sharon Villines Takoma Village Cohousing, Washington DC http://www.takomavillage.org
contingency fund questions Jodi Coleman, November 10 2009
- Re: contingency fund questions Sharon Villines, November 11 2009
- Re: contingency fund questions Bonnie Fergusson, November 11 2009
- Re: contingency fund questions Larry Miller, November 11 2009
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