IRS Reserve Fund Guidelines

I have been TFL for the past 8 years I think. ( TFL= treasurer for life). I have signed 10 irs tax returns and this much I can tell you they could care less about reserve funds.
What they do care about is where the funds came from if from assoc dues, special assessments they are tax free in Florida.

On all remaining funds, money for tv filming, motion picture filming, adds in the assoc magazines, newspapers and interest on operateing as well as savings accounts, cds and stocks and bonds, income from mining operations on your lakes etc are all taxed as income at the rate of 30 percent on every dime. We have a cpa do a thorough audit every 5 years and a standard business audit every year since I became Treas. It was the stipulation I made.( Later on I found it in the docs)