|Re: Spending reserve funds||<– Date –> <– Thread –>|
|From: Jim Snyder-Grant (jim.snyder.grantgmail.com)|
|Date: Thu, 6 Aug 2009 09:12:12 -0700 (PDT)|
At New View (Acton MA), reserve spending happens in phases: We keep the results of our reserve study in a spreadsheet. The budget committee modifies it each year & it gets approved as part of the regular annual budget process. There are only a few committees that are responsible for spending reserve money (landscape, maintenance, common house). A committee that wants to spend their money goes to the trustees (aka the steering committee) to get approval for spending. Steering decides if this is a routine matter that can be approved by steering alone, or if a wider process is called for. One exception; spending less than $1,000 on an item that is already called out in teh reserve spreadsheet as happening in the current year, can be done without steering approval. Two members of the finance committee are the signers on the reserve checks, and so they have the last bit of responsibility in making sure the process is followed. This process is NOT spelled out in our condo docs, which, as is typical, gives a LOT of power to the trustees. We evolved this process at a couple of group meetings after stumbling through for a while. -Jim Jim Snyder-Grant 18 Half Moon Hill Acton MA 01720 978 266-9409 On Sat, Aug 1, 2009 at 2:17 PM, <Thea_Hensel [at] vfc.com> wrote: > > Since most cohousing communities make decisions through a form of > consensus process I am wondering if you have some reference to voting > under certain circumstances. California law indicates that voting can be > granted if HOA dues are raised more than 20 % or decisions regarding > health and safety are needed. > > We included spending of reserve funds in voting agreement but it is now > being analyzed. How do other communities decide how Reserves are spend? > This is not for budgeted repair items but items that are included in our > reserve study that get amortized over a period of years. > Thanks for your input. > > > > Thea Hensel > PHO-707.545.5281 > FAX-707.545.4068 > CELL-707-953-1207 > _________________________________________________________________ > Cohousing-L mailing list -- Unsubscribe, archives and other info at: > http://www.cohousing.org/cohousing-L/ > > >
Spending reserve funds Thea_Hensel, August 1 2009
- Re: Spending reserve funds Jim Snyder-Grant, August 6 2009
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