reserve fund

Definition of "reserve fund"
  1. A pool of money set aside by a business or housing development for costs like maintenance, repairs, or unexpected expenses, controlled by a homeowners' association or similar entity
How to use "reserve fund" in a sentence
  1. The homeowners' association used the reserve fund to repair the community pool.
  2. When the elevator in the condominium building broke, the reserve fund was used to cover the repair costs.
  3. The business tapped into its reserve fund to cover unexpected expense due to an emergency.

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