Managing an association’s finances and creating budgets that allow a community to preserve market values are key responsibilities for the board of directors. It’s essential that a board budgets for the future repair or replacement of major components in a community reserve fund. An up-to-date reserve fund is critical to the financial management of a community and it’s required by law in most states. But, legal compliance isn’t the only reason you should strive to have a well-funded reserve.     Read the article………………..