Building Savings (Reserve Fund)
Think of this like a retirement savings account for our building. It's meant to cover major repairs so owners aren't hit with surprise bills.
Our reserve fund is significantly underfunded. The recommended level is 70–100%.
Key Numbers
Current savings
$291,212
Ideal savings
$2,236,525
Shortfall
$1,955,897
Funding ratio
13%
Legal minimum contribution: 10%
We're at 9.4%
Projected Balance Over Time
This chart shows where the reserve fund is headed based on current contributions and planned expenses. Red areas indicate projected deficits.
Building Components
These are the major parts of the building that the reserve fund needs to cover. Click a column header to sort.
| Component | Category | Est. Cost | Year Due ▲ | Status |
|---|---|---|---|---|
| Entry Door Systems Main entry doors, fobs, and intercom system. | Security | $45,000 | 2026 | Urgent |
| Landscaping Overhaul Irrigation system and garden bed replacement. | Site | $35,000 | 2026 | Urgent |
| Garage Door Openers Commercial overhead doors for parkade entrance. | Mechanical | $18,000 | 2026 | Urgent |
| Parkade Membrane Two proposals received. Waterproof coating that prevents water damage to parkade structure. | Structure | $154,000 | 2027 | Urgent |
| Hallway Carpet Replacement Common area carpeting in all hallways and lobbies. | Interior | $65,000 | 2027 | Urgent |
| Fire Alarm System Update Panel and detector upgrades to meet current code. | Safety | $55,000 | 2027 | Urgent |
| Common Area Lighting — LED Upgrade Upgrade all common area fixtures to LED for energy savings. | Electrical | $28,000 | 2027 | Warning |
| Exterior Painting Full exterior repaint including trim and railings. | Exterior | $95,000 | 2028 | Warning |
| Balcony Membrane — Phase 1 Waterproofing for balconies on south-facing units. | Structure | $110,000 | 2028 | Warning |
| Parking Lot Resurfacing Surface parking areas and driveways. | Site | $78,000 | 2028 | Warning |
| Elevator Cab Interiors Refinish elevator cab walls, floors, and lighting. | Interior | $40,000 | 2028 | Warning |
| Roof Covering — Building A Torch-on membrane roof. Shows signs of aging. | Roofing | $185,000 | 2029 | Urgent |
| Roof Covering — Building B Same type as Building A. | Roofing | $185,000 | 2029 | Urgent |
| Elevator Modernization Full cab and controls modernization for both elevators. | Mechanical | $350,000 | 2030 | Warning |
| Hot Water Boilers Two commercial boilers serving both buildings. | Mechanical | $120,000 | 2031 | Warning |
| Sewer Line Maintenance Camera inspection and relining of main sewer lines. | Mechanical | $85,000 | 2032 | OK |
| Plumbing — Domestic Water Pipes Copper supply lines showing expected wear for age. | Mechanical | $420,000 | 2033 | OK |
| Windows & Sliding Doors Double-pane windows. Seals starting to fail on some units. | Exterior | $650,000 | 2035 | OK |
Why does this matter?
When the reserve fund is underfunded, owners may face special levies (unexpected bills) to cover urgent repairs. A well-funded reserve protects everyone from financial surprises.