Cohousing-L Mailing List: Re: Community finances/ reserves

[Lynn Nadeau (welcome]

>We have a certain amount of
>money set aside for captital improvements, another amount set aside for
>maintenance and repair, and another amount for unexpected repairs and
>problems. What we don't know is how much we should have in each line item.

At RoseWind, these are the kinds of reserve funds we have (and add to 
annually, until a cap is met, ie the fund is "full") and how much we are 
putting in each year/and the cap, if known. 
There is also the Contingency line in the annual operating budget: it's 
not a reserve, so any surplus at year end does not roll over into the 
following year. We use 10% of the total annual budget, as contingency. 

Reserves include
Common house depreciation and repairs: 3000 a year/ cap unknown
Arbitration and Mediation (our conflict resolution process includes 
stages at which we are forced to share the cost of same, and other 
instances where we could choose to spend money on it): Mediation fully 
funded already at 1250. Arbitration @ 1000 per year/ cap 5000
Legal and professional consulting (not incl accountant) 500/ to 2500.
Mowing tractor replacement @3500 per year/ cap I forget, maybe three 
times that. 
Pedestrian path improvement 1000/3000.

We are starting a fund for common house furnishings, replacement and 
enhancement. No money is requested for this next budget cycle, but we'll 
put some into it from money generated by events at the common house, and 
it can accept donations. 


Lynn Nadeau, RoseWind Cohousing
Port Townsend Washington (Victorian seaport, music, art, nature)
http://www.rosewind.org
http://www.ptguide.com

_______________________________________________
Cohousing-L mailing list
Cohousing-L [at] cohousing.org  Unsubscribe  and other info:
http://www.communityforum.net/mailman/listinfo/cohousing-l