Funding the Reserve Fund

Funding the Reserve Fund

In BC, the contributions to the reserve fund by the developer are discussed under BC Start Up Rules

After turnover, the required contributions to the reserve fund are defined in Regulation 6.1:

• if the reserve fund has a balance of less than 25% of the amount of the annual operating contribution at the end of the fiscal year ( or estimated operating expenses in year 1), the minimum contribution is 10%
• if the reserve fund has at least 100% of the annual operating contribution, then any further contribution must be approved by a 75% vote

Otherwise any amount of contribution is acceptable