Pineloch Community Association ------------------------

CAPITAL RESERVE

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REVISION DATE: 11/21/02

PURPOSE

This policy is used to manage the Capital Reserve.

SCOPE

The capital reserve fund is used to provide funds for either the addition to or the replacement of capital equipment within the Pineloch Community Association.

DEFINITION(S)

Capital Equipment: Any piece of equipment costing more than $5,000.00.

POLICY

  1. A capital reserve study will be undertaken by an outside consultant a minimum of once every five years.

  2. A separate account is maintained for capital reserve funds.

  3. The management of the capital reserve funds is handled by a firm specializing in the management of funds.

  4. The fund management contract will be bid on at the direction of the Board.

  5. When a contract is awarded, the management company provides a controlled copy to all board members for inclusion with their controlled documents.

  6. The fund management company will provide a quarterly summary of account activity.
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Comments and questions about the Pineloch Community Association may be emailed to the Management Company at CMSI.

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