Purpose of Reserve. 1.1 The purpose of the appropriation reserve is to hold accumulated surpluses of the Joint Committee which can be made available, subject to the approval of the Joint Committee to:-
(a) Meet any deficits arising on the Revenue Budget
(b) Set aside sums for future capital investment purposes
(c) Finance any other specified use approved by the Joint Committee.
Purpose of Reserve. 1.1 The purpose of the Archive Acquisitions Reserve is to provide a source of funds available to finance archive acquisitions.
Purpose of Reserve. The Authority shall establish and maintain a separate non- routine maintenance reserve (NRMR) for the Home, using a portion of the Homebuyer’s monthly payment. The purpose of the NRMR is to provide funds for the nonroutine main- tenance of the Home, which consists of the infrequent and costly items of maintenance and replacement shown on the Nonroutine Maintenance Schedule for the Home (see paragraph b of this section). Such mainte- xxxxx may include the replacement of dwell- ing equipment (such as range and refrig- erator), replacement of roof, exterior paint- ing, major repairs to heating and plumbing systems, etc. The NRMR shall not be used for nonroutine maintenance of common property, or for nonroutine maintenance re- lating to the Home to the extent such main- tenance is attributable to the Homebuyer’s negligence or to defective materials or work- xxxxxxx.
Purpose of Reserve. To the extent that total operating receipts (including subsidies for operations) exceeds total operating expenditures of the Project, the LHA shall establish an operating reserve up to the maximum approved by HUD in con- nection with its approval of the annual oper- ating budgets for the Project. The purpose of this reserve is to provide funds for (1) the in- frequent but costly items of nonroutine maintenance and replacements of common property, taking into consideration the types of items which constitute common property, such as nondwelling structures and equipment, and, in certain cases, common elements of dwelling structures, (2) nonrou- tine maintenance for the Homes to the ex- tent such maintenance is attributable to de- fective materials or workmanship not cov- ered by warranty, (3) working capital for payment of a deficit in a Homebuyer’s NRMR, until such deficit is offset by future monthly payments by the Homebuyer or at settlement in the event the Homebuyer should purchase, and (4) a deficit in the oper- ation of the Project for a fiscal year, includ- ing a deficit resulting from monthly pay- ments totaling less than the break-even amount for the Project.
Purpose of Reserve. 1.1 The purpose of the capital reserve is to provide a source of funds available to finance capital expenditure
Purpose of Reserve. The LHA shall establish and maintain a separate NRMR for each home, using a portion of the homebuyer’s monthly payment. The purpose of the NRMR is to provide funds for the nonroutine maintenance of the home, which consists of the in- frequent and costly items of mainte- xxxxx and replacement shown on the Nonroutine Maintenance Schedule for the home (see paragraph (b) of this sec- tion). Such maintenance may include the replacement of dwelling equipment (such as range and refrigerator), re- placement of roof, exterior painting, major repairs to heating and plumbing systems, etc. The NRMR shall not be used for nonroutine maintenance of common property, or for nonroutine maintenance relating to the home to the extent such maintenance is attrib- utable to the Homebuyer’s negligence or to defective materials or xxxxxxx- ship.
Purpose of Reserve. To the extent that total operating receipts (including subsidies for operations) exceed total operating expenditures of the Project, the LHA shall establish an operating reserve up to the maximum approved by HUD in connection with its ap- proval of the annual operating budgets for the Project. The purpose of this re- serve is to provide funds for
(1) The infrequent but costly items of nonroutine maintenance and replace- ments of common property, taking into consideration the types of items which constitute common property, such as nondwelling structures and equipment, and in certain cases, common elements of dwelling structures,
(2) Nonroutine maintenance for the homes to the extent such maintenance is attributable to defective materials or workmanship not covered by war- ranty,
