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Trustees say no statutory reserve; chair recommends 25%–50% operating reserve
Summary
A resident asked whether law requires a specific reserve level; trustees said no statutory minimum was found and the chair said the best guidance she found recommends holding roughly 25%–50% of operating expenses in reserve.
During discussion of the 2026–2027 draft budget, resident Melanie Woodruff asked whether the district is required by statute to hold a particular reserve amount. Trustee Terry Zimmerly said the district has no statutory reserve requirement identified in the minutes. Chairman Cori Howell told the board that the best guidance she could find recommends keeping approximately 25% to 50% of operating expenses in reserve.
Board members and residents discussed reserve levels in the context of ensuring assessment income covers operating expenses. The minutes record the guidance as a recommendation rather than a legal requirement; no statute or ordinance was cited in the work session minutes.
