Starting in 2017, transfers from our operating account and to/from our Reserve for Replacement Account will happen only once a year.
To do this efficiently we will keep the equivalent of one year's operating revenue in the operating account. Everything else will be transferred to the Replacement for Reserves.
Meaning, if our expected revenue for 2018 is $1,516,250 – then any amount greater than that as of 12/31 will be transferred to the Replacement Reserve once the statement has come in (realistically Jan or Feb of the following year). We will no longer allow transfers on a month to month or quarter to quarter basis.
For capital investments, we will transfer those funds from the Reserve Account to the Operating Account based on the budgeted amount once the calendar year starts as we normally do. This means there will be only two transfers in and out of the Reserve Account each year, unless specified/requested by the Board.