Reserves
Reserve fund
The reserve fund saves money for major repairs and replacements—roofs, paving, elevators, and similar big-ticket items. Healthy reserves reduce reliance on emergency special assessments. Boards track reserve projects separately from day-to-day operating expenses.
These definitions are for general education only. They are not legal, financial, or tax advice. HOA rules vary by community and location—confirm details against your governing documents and qualified professionals before you act.
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