Reserve Fund

Some states, including California and Florida, require associations to follow a reserve-fund formula, but in other states there is no good rule of thumb for how much is enough, Mr. Pearlstein says. ❋ Unknown (2007)

'In July 1649,' he writes, 'the new intruded officers and fellows of Magdalene College found in the Muniment-room in the cloister-tower of the College a large sum of money in the old coinage called Spur-royals, or Ryals, amounting to £1400, the equivalent of which had been left by the Founder as a reserve-fund for law expenses, for re-erecting or repairing buildings destroyed by fire, etc., or for other extraordinary charges. ❋ William Younger Fletcher (1871)

The less these conditions are developed, the more difficult it becomes, not only to lay out the money received to-day productively to-morrow, but the more imperatively does a proper foresight demand, that a reserve-fund should be maintained for times of necessity. ❋ Wilhelm Roscher (1855)

Warner, who crafted the reserve-fund language with Senator ❋ Unknown (2010)

"Given the depth of the recent recession, even these historically high reserve-fund balances proved insufficient to buffer fully the budgets of most states. ❋ Unknown (2010)