Reserve Fund Tracker

Who this is for

What goes into the reserve fund and what comes out. Each contribution and payment is recorded against the opening balance, with a running total and a list of the projects the money is set aside for, so leaseholders can see how much is still unallocated.

Directors, treasurers and freeholders who hold a sinking or reserve fund for a block or converted house and report on it to the other leaseholders.

What this helps you track

• Every contribution into the fund and every payment out of it
• The balance after each line, from the opening figure you enter
• The projects the fund is earmarked for and how much each one has
• How much of the closing balance is not yet set aside for anything

How to use it

1. Write the building, the fund name, the account it is held in, the opening balance and the date of that balance.
2. Record each contribution or payment on its own line in date order, with the project it relates to where there is one.
3. List in the earmarked projects table the works the money is being kept for and the amount set aside for each.
4. The running balance, totals and unallocated figure are worked out in the browser and the workbook; on paper, carry the balance down line by line.
5. Check the closing balance against the bank or building society statement before reporting to leaseholders.

Formats

• Printable PDF (A4 and US Letter)
• Fillable PDF with form fields
• Fill in online, saved in your browser
• Excel / Google Sheets workbook

The printable is laid out inside a box that fits both A4 and US Letter, so the two files are identical and neither one is scaled. The fillable PDF has real form fields. The workbook uses plain formulas only — SUM, IF, COUNTIF and the like — so it opens in Excel, LibreOffice and Google Sheets without anything breaking, and every calculated cell is grey so you can see which figures it worked out.

How to print

Download the A4 or US Letter file to match the paper in your printer, open it in a PDF reader and print at 100% — not "fit to page", which shrinks the writing space. Both files leave a 14 mm margin, which clears the unprintable edge on home printers. To print the online version with your entries in it, use the Print this sheet button, which prints only the sheet and none of the page around it. More on printing.

Questions

What is the difference between a reserve fund and a sinking fund?

The terms are often used for the same thing: money collected over time towards large or irregular costs such as roof or lift work. Some leases use one term or both. Use the name your leases and accounts use.

How much should the fund hold?

There is no figure here. The level is usually worked out from a survey or planned maintenance programme and what the leases allow to be collected. This sheet records what is actually held and committed.

Should the fund be kept in a separate account?

Keeping it apart from day-to-day service charge money makes it much easier to report on. Whether it must be held separately or in trust depends on the rules where you are, so check those.

How do I record interest?

Enter interest as a contribution on the date it is credited, with a description such as interest for the quarter, so the balance agrees with the statement.