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Maintaining Adequate Reserve Funds
When a newly elected co-op board is suddenly confronted with an exhaustive amount of major renovation and repair that is urgently needed and predecessor board members had not maintained a sufficient Reserve Fund, the new directors can be in a serious quandary about what to do.
Maintaining an “adequate” reserve fund is critical to the fiscal stability of every building.
The attached article, “Inadequate Reserve Funds – The Risks of Not Keeping Up” provides some important insight into that concept.
Recent Posts
- NY Co-ops Might Still Be Able to Collect Legal Fees July 5, 2020
- COVID-19 Phase Two Re-opening Guidelines June 23, 2020
- Co-ops Supported in Washington June 3, 2020
- Elected Officials in D. C. Advocate for Co-ops May 30, 2020
- COVID-19 and New Building Protocols for Co-ops & Condos May 21, 2020
- Virtual Annual Meetings during COVID-19 May 15, 2020
- Buying & Selling Co-ops and Condos during COVID-19 May 10, 2020
- ‘Tis the (COVID-19) Season for Annual Elections May 7, 2020
- PPP Update April 23, 2020
- COVID-19 Update for Co-ops & Condos as Employers April 16, 2020
- New OSHA requirements on COVID-19 cases April 16, 2020
- Federal Families First Coronavirus Response Act April 5, 2020
- NYC Provides Relief for Certain Small Businesses Adversely Affected by COVID-19 April 1, 2020
- Coronavirus Aid, Relief and Economic Security Act (The CARES Act) March 30, 2020
- COVID-19 Bronx Realty Advisory Board Agreement with SEIU 32BJ March 29, 2020
- Coronavirus in the Workplace — What Co-op & Condo Boards Need to Know March 11, 2020
- The S.H.I.E.L.D. law March 2, 2020
- Who Is In Charge of Your Building’s Money? February 25, 2020
- New Facade Inspection Rules Take Effect February 21, 2020
- NYC Property Tax Reform February 9, 2020
- Local Law 11 Changes Will Affect Co-ops and Condos December 25, 2019
- Albany Still Not Listening December 9, 2019
- Reducing Greenhouse Emissions in Your NYC Co-op or Condo October 3, 2019
- New Tenant Protection Law Forgot About Co-op Owners September 15, 2019
- Does the Warranty of Habitability extend to common areas? September 9, 2019
- Home Owner Insurance August 21, 2019
- New Tenant Protections Likely to Be Felt in Co-ops and Condos July 16, 2019
- Changes in S.T.A.R. June 22, 2019
- Hiring Military Service Veterans May 27, 2019
- Maintaining Adequate Reserve Funds May 23, 2019
- 2019 Contract Agreement with Local 32BJ March 14, 2019
- Board Decisions Are Protected Under the Provisions of the Business Judgment Rule (or are they?) March 2, 2019
- Negotiations with Local 32BJ Continue February 28, 2019
- New York State Mandates Parking Garage Assessments February 7, 2019
- Trust Transfers for Shareholders in Co-ops November 26, 2018
- Local Law 84 Deadline Approaches November 23, 2018
- To Hire or Not to Hire (building staff, after hours, that is) November 9, 2018
- Local Law 33 October 12, 2018
- The Question of Smoking in Co-ops and Condos September 13, 2018
- The Question of Dogs in Co-ops and Condos August 23, 2018
- The Question of Bedbugs in Co-ops and Condos July 30, 2018
- Local Law 154 Informs Residents July 23, 2018
- Co-ops and Co-op Boards Again Under Attack in Council April 30, 2018
- Maintaining Your Building’s “Bella Figura” April 21, 2018
- 32BJ Contract Agreement for Manhattan, Queens, Brooklyn & Staten Island April 15, 2018
- Legislators (Again) Seek to Govern Actions of Boards of Directors March 27, 2018
- Human Rights Commission Opposes Proposed Regulation of Co-ops, too! December 14, 2017
- More Regulation: Gas Lines Must be Inspected December 9, 2017
- New Law Relating to Conflicts of Interest in Co-ops and Condos October 24, 2017
- New Heating Regulations September 13, 2017
- Service Dog Scams Abound August 30, 2017
- Co-op Boards Must Establish Smoking Policies August 13, 2017
- Sidewalk Shed System is “Broken!” May 24, 2017
- Co-ops Push Back Against Bills to Speed Application Process March 3, 2017
- Newly Proposed Legislation Strikes At Autonomy of Co-op Boards February 13, 2017
- New Rules for Balcony Enclosures November 16, 2016
- Business in Your Co-op or Condo? Probably NOT! October 24, 2016
- Co-op Shareholders Deserve Reverse Mortgages, If They Want Them! September 25, 2016
- New Property Tax Classification for Co-ops and Condos Needed September 25, 2016
- Bill to Restrict Autonomy of Boards September 25, 2016
- North Riverdale Smart Growth Plan September 25, 2016
- Directors’ Ethics August 6, 2016
- Duties of Co-op / Condo Boards August 6, 2016
- In response to ARC requests, Congressman Engel petitions HUD for Reverse Mortgages for co-ops July 6, 2016
- Senator Jeffrey Klein Introduces Legislation to make Reverse Mortgages Available to Co-op Owners May 21, 2016
- Co-op Residents Deserve Reverse Mortgages, Too! May 12, 2016
- Proposed Changes in the Neighborhood April 7, 2016
- Problematic and Disruptive Neighbors March 10, 2016
- Fraudulent Service Animals March 10, 2016
- Senators Introduce New Co-op / Condo Property Tax Bill December 22, 2015
- Riverdale: Home to Many Notable New Yorkers December 1, 2015
- Responsibilities of Directors December 1, 2015
- How is Your Building’s Property Tax Calculated? May 8, 2015
- ARC Urges State Legislators to Renew Tax Abatement May 7, 2015
- 2015 Contract Settlement with Local 32BJ March 13, 2015
- Choosing Between a Co-op and a Condo December 2, 2014
- Sprinkler Disclosure Law Goes into Effect 12/3/14 December 2, 2014
- ARC Members to Meet Elected Representatives November 26, 2014
- Thinking of Buying A Co-op? November 19, 2014
- Hiring a New Building Manager? November 19, 2014
- Negotiating Management Contracts November 19, 2014
- 32BJ Contract to Expire in March 2015 October 8, 2014
- Bad Officials are Elected by Good Citizens Who Don’t Vote August 14, 2014
- Estate Planning March 24, 2014
- FEMA Policy to Assist Co-ops and Condos February 8, 2014
- Co-op and Condo Property Tax Guide February 8, 2014
- Property Tax Abatement – February 2014 February 8, 2014
- Con Edison to Bring Gas Lines to Riverdale November 20, 2013
- Hudson River Valley Greenway November 7, 2013
- Community Board to Consider Property Development November 4, 2013
- Bogus Therapy Dogs October 26, 2013
- The Mayor’s Carbon Challenge October 10, 2013
- Register Now for S.T.A.R. October 1, 2013
- City Council Primary, September 10, 2013 September 22, 2013
- Storm Recovery Grants for Co-ops & Condos July 30, 2013
- New FEMA Policy may Assist Co-ops and Condos July 29, 2013
- NYC Clean Heat Program for 2014 June 10, 2013
- Property Tax Abatement May 29, 2013
- Sound Fiscal Policy May 29, 2013
- Fair Admissions Policy May 29, 2013
ARC Riverdale
Contact Us
Association of Riverdale
Cooperatives & Condominiums
P.O. Box 630-033
Bronx, NY 10463
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