Office of NYS Comptroller - Local Management Guide for Reserves

Highlights Include:

Intended Use of Reserves - Page 2
Board Direction and Oversight - Page 3
Visibility of Reserve Fund Transactions - Page 4
Investment of Reserve Funds - Page 4
Reserve Fund Accounting Records and Reports - Page 5
Reserves Authorized by the General Municipal Law (GML) - Page 6
Capital Reserve Fund - Page 6
Repair Reserve Fund - Page 11
Contingency and Tax Stabilization Reserve Fund - Page 12
Snow and Ice Removal and Road Repair Reserve - Page 14
Reserve Fund for Payment of Bonded Indebtedness - Page 15
Airport Amortization Fund - Page 16
Airport Development Fund - Page 16
Workers’ Compensation Reserve Fund - Page 17
Electric Utility Depreciation Reserve Fund - Page 18
Mandatory Reserve Fund - Page 19
Unemployment Insurance Payment Reserve Fund - Page 20
Insurance Reserve Fund - Page 21
Solid Waste Management Facility Reserve - Page 23
Employee Benefit Accrued Liability Reserve Fund - Page 24
Retirement Contribution Reserve Fund - Page 25

Reserves Authorized By Other Statutes - Page 27
Property Loss Reserve and Liability Reserve Fund - Page 27
School District Capital and Tax Certiorari Reserve Funds  - Page 28
Tax Reduction Reserve Funds for School Districts  - Page 30
Career Education Instructional Equipment Reserve Fund–BOCES  - Page 31
General Reserve Fund–Suburban Towns  - Page 32
Reserve Fund for Improvement District–Suburban Towns  - Page 33
Reserve Fund for Judgments and Claims–Suburban Towns  - Page 34
Tax and Revenue Anticipation Fund for Counties  - Page 35
Appendix A: Reserves Authorized by GML Article 2  - Page 36
Appendix B: Towns in Adirondack Park - Page 37
Appendix C: “Specific” Sample Resolution  - Page 38
Appendix D: “Type” Sample Resolution  - Page 39
Notes - Page 40
Contacts - Page 42