what is reserved fund?

what is reserved fund?

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Answers (3)

8 months ago
A reserve fund is a savings account or other highly liquid asset set aside by an individual or business to meet any future costs or financial obligations, especially those arising unexpectedly. If the fund is set up to meet the costs of scheduled upgrades, less liquid assets may be used.
mhz vee
8 months ago
reserve fund

is a fund of money created to take care of maintenance, repairs or unexpected expenses of a business or a multi-unit housing development (often condominiums or a housing cooperative) operated by a homeowners association or other governing body. Most states require that homeowners associations maintain such a fund.
8 months ago
A reserve fund is a savings account or
other liquid asset managed by a
condominium, business or individual
for anticipated future expenditures,
such as major repairs and
improvements. Reserve funds usually
are set aside in an account separate
from the general operating funds.
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