Revealing The Transparency Of A Reserve Disclosure
By Denise Dana, RA, RS
or the budget process to be transparent, common interest community board of
information to the membership prior to ratifying the budget. In addition to the summary of the budget, a supplemental reserve disclosure helps to illuminate the adequacy of the current contribution rate, the recommendations from the latest reserve study, and the trajectory of the proposed budget.
28 Community Associations Journal | September 2020 What To Include
outlined in Sections 4 (a – g) of both RCW 64.34.308 and RCW 64.38.025 shall include:
Current Funding Information
Budgeted annual contribution to reserves for the current
Percent fully funded as of the date of the most recent reserve study
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