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The sponsor did not create any emergency reserve fund for the building.
But Brian Schaefer, president of 401K Ventures in Palo Alto, Calif., suggested establishing an emergency reserve.
Because repairs will cut into profits, it's important to keep an emergency reserve.
But the president said he had not ruled out tapping into the emergency reserve later.
He said he did not expect losses, if any, to exceed the fund's emergency reserve.
FOR USE IN EMERGENCY Reserve Act Provides Methods by Which Federal Banks May Advance Funds.
The excess money is credited to the FHA's emergency reserve fund.
With the permission of the donors, $15 million was shifted into the less restrictive endowment trust as an emergency reserve.
Yes, he acknowledged, the emergency reserve was created in case of major supply disruptions, not to manipulate prices.
The FHA had been accumulating money ever since its emergency reserve fund was set up in 1992.
The Bigger Data and Smarter Scaling event was so successful, we had to bring in an emergency reserve of chairs — which were subsequently filled.
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