A capital improvement reserve fund. Money set aside to pay for facility upkeep, where the amounts can be large, the ultimate need a certainty, but where the exact timing is uncertain. These are often big-ticket items, like replacing the roof, which are difficult to accommodate in a single year's budget. Also known as a replacement reserve. Typ [..]

Funds set aside to pay for facility upkeep, upgrades, unexpected repairs, and replacement of fixtures and facility systems that exceed money available through the regular budget. Also known as a replacement reserve. Typically, these are unrestricted, but board-designated funds.