Accounting - Reserve fund Calculation

Purpose: Understanding the Reserve Fund Calculations.

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The PIC and Status Certificates reflect the Reserve Fund Balance listed under Corporation Maintenance in the Financial tab.

The Reserve Fund amount is calculated as: Reserve Equity (Balance Forward) + Current Year Reserve Contributions + Current Year Reserve Interest - Current Year Reserve Expenses.

• It does not directly reflect any individual account, similar to the Operating Fund.
• The Annual Reserve Fund amount should align with the Statement of Reserve Fund Report when run for Year-to-Date.
• The Monthly Reserve Fund amount should match the report when run for This Month.

When generating Status Certificates, the system retrieves the amount from a completed month, no more than 90 days prior to the selected "As Of" date, to ensure compliance with the Condo Act.  This period is considered sufficient to capture any significant financial changes without being outdated.