contingency fund questions | <– Date –> <– Thread –> |
From: Jodi Coleman (jodicoleman1000gmail.com) | |
Date: Tue, 10 Nov 2009 22:18:02 -0800 (PST) |
Hello all, Last year (our second since moving in), our community created a contingency fund for unexpected and emergency expenses. We took the excess from our first year's budget (and the excess from each budget thereafter) to create the fund. We created the contingency fund so that each work team wouldn't feel the need to have a sizeable miscellaneous/emergency line in their section of our budget, and instead they would know that money could be available to them if they needed it. Going into our third year, we now have a healthy amount of money in this fund, so we are now needing to decide where to cap it. We are wondering how much money (what percent of the budget) other communities have in their contingency funds. 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? Any advice folks have would be greatly appreciated! Jodi Coleman Coho Cohousing, Corvallis, OR
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contingency fund questions Jodi Coleman, November 10 2009
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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
- Re: contingency fund questions evdavwes, November 12 2009
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Re: contingency fund questions Sharon Villines, November 11 2009
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