Re: Saving up for a capital expense
From: Elizabeth Magill (pastorlizmgmail.com)
Date: Wed, 4 Nov 2020 14:45:53 -0800 (PST)
Do you have a capital expense in mind that wouldn't be in the reserves?

We have two reserves--HOA reserves for buildings
and Cohousing reserves for furniture, washing machines, lawnmowers, hot
tub, etc. Things that cost not very much, more than a year's normal budget,
and that we want to be able to purchase as needed, without having predicted
it in the budget.

But it's still "reserves". Everything else we do not carry over.

Liz



On Wed, Nov 4, 2020 at 4:49 PM Linda Hobbet <coho [at] lindahobbet.com> wrote:

> Hi,
>
> We are working on our first annual HOA budget. Our treasurer, who is
> experienced with budgets in business, says we can't carry funds over
> from one year to the next (except for the reserve fund). So how can we
> save up for a capital improvement that is more expensive than we can
> collect in one year? Is there a way other communities handle this?
>
> Thank you,
> Linda
>
> --
> VillageHearthCohousing.com
> 706-202-7278
> coho [at] lindahobbet.com
>
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-- 
-Liz
(The Rev. Dr.) Elizabeth Mae Magill
Pastor, Ashburnham Community Church
Minister to the Affiliates, Ecclesia Ministries
www.elizabethmaemagill.com
508-450-0431

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