Cohousing-L Mailing List: Re: What is your community's reserve funding level?

[Kelly Bachman (happyvalleykelly]

Our community has a reserve study done every 3 years. We have 2 goals for
reserves based on the reserve study. We want to be at 70% funded in 30
years and we don’t want to be less than 30% funded in any of the next 10
years. If both goals are met, we increase reserve dues by 3% each year. If
not, we increase reserve dues by 3% plus CPI-U Inflation rate AND we have a
budget amendment to put half of the expected operating surplus into
reserves.

This strategy has given us a stable Funding Plan that both sides can live
with: the folks who want to minimize dues no matter what and the folks who
want to have enough in savings to avoid the chaos of deferred maintenance
or special assessments.  Plus mortgage lenders like it.

Kelly for Bellinghsm Cohousing
33 units, 24 years old

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