Planning for the big repairs

Labels used on this site: Adopted Proposed Utah law Governing docs Best practice

What “reserves” means at Green Pines

The Replacement Reserve Fund, held at Edward Jones, is money saved for big, predictable repairs and replacements, such as roofs, siding, paving and similar components with long useful lives. At Green Pines, the word “reserve” refers only to this fund.

Money set aside for routine upkeep (like tree trimming) is held separately as a maintenance savings account. It is not a reserve.

The 2026 reserve study

Funding plan under discussion Proposed

The Committee is discussing a plan to direct $90 per unit per month to reserves and $10 to maintenance savings, rising about 3% a year. This has not been adopted. Any change will be announced in News and reflected in the annual budget.

What Utah law requires Utah law

Utah Code § 57-8-7.5 requires a condominium association to:

• give owners a summary of the most recent reserve study every year, and a full copy to any owner who asks;
• include a reserve line item in each year’s budget, in an amount the Management Committee finds prudent based on the reserve study; and
• allow owners to veto the reserve line item within 45 days after the budget is adopted, by a 51% vote of the allocated voting interests at a special meeting the owners call. If vetoed, the prior non-vetoed reserve line item applies.

The statute also limits how reserve money may be used. Read it at le.utah.gov or the plain-language guide from the Utah Department of Commerce. This summary is not legal advice.