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There is an annual Operating account, with its budget, and there is a Reserve account with its own budget
The Reserve Budget forecasts likely capital expenses over the next 20-30 years, for which there need to be funds in the Reserve account, when the time comes.
To help construct the Reserve budget, we contract for a periodic Reserve Study, the last one was done in 2022.
The Operating Budget covers annual expenses, and makes a contribution, each year, to the Reserve fund
Our monthly dues are almost the sole source of the funds in the Operating Account
The contribution to the Reserve is the excess in the Operating Account at the end of each year; the expected amount is built into the dues.
See Annual Budget/Dues Process for how the Budget is constructed.
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