Re: contingency fund questions
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 several
places 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 the
maintenance 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
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Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org





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