Reserve percentage

Is sharing the reserve percentage of our HOA allowed? I shared it with another Board member from a different HOA recently during a Board member training on Reserve Studies and Financials and the PM said that’s confidential information?? Can’t find anything online that states we can’t share the percentage of our Reserves.

I probably wouldn't have shared it, but I've never heard that the number is particularly confidential in the way that details about ongoing litigation is confidential.

For what it's worth, the percentage may be a target, but it will change over time as contributions are made and money is spent. So whatever you quoted will become inaccurate eventually and shouldn't be relied on as gospel.

I also wouldn't worry too much about it.

A PM was once hell-bented
To say we weren't properly percented
She said we were wrong
We told her so long
Now we are better represented

Have the PM cite the rule or law, Put up or Shut up.

Sue,
From reading the original post if we told you we would have to kill you. LOL we just did a new one after 3 years and are awaiting the final paperwork. In our case we are going to be way over 100% because our last PMC was deducting our Reserve allotment each quarter and then also taking the Fee that is documented in our CC&Rs as Working Capitol Fee of $300.00 and adding it to reserves. This meant that an additional 40 to 50k annually was going into reserves. This was double funding reserves.

We are going to have to make some decisions on future contributions and create a Working Capitol Fund to capture those funds so it can be used for future New projects. I think we will likely reduce our reserve contribution for a year and instead transfer that money into that account since we do not want to remove any funds from reserves which could cause a problem.

Trying again