Tallyn's Reach Reserves
The Tallyn’s Reach Metro District boards want to ensure the future of the community by consolidating District No. 2 and No. 3 boards and structuring the mill levy in a way that helps not only save money through consolidation, but helps create a steady stream of funding into the Reserve account for future needs. The health of a metro district reserve is critical to the future of a community.
CURRENT VALUE OF COMMUNITY REAL ESTATE: $1,218,000,000
TALLYN’S REACH RESERVE CURRENTLY FUNDED AT 6%
Upcoming Reserve Items within the next 10 years: | Measures of strength are as follows: | |
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100% Funded: 70% - 99% Funded: |
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What are Reserve Assets? “Reserve” assets are items that are the responsibility of the metropolitan district to maintain, have a limited Useful Life, predictable remaining useful life expectancies, typically occurs on a cyclical basis that exceeds 1 year, and costs above a minimum threshold cost. |
31% - 69% Funded: |
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This differs from an “operating” expense, which is typically a fi xed expense that occurs on an annual basis. For instance, minor repairs to a component for damage caused by high winds or other weather elements would be considered an “operating” expense. However, if the entire component needs to be replaced because it has reached the end of its life expectancy, then the replacement would be considered a Reserve expense. |
0% - 30% Funded: The information on this page is taken from the 2020 Tallyn’s Reach Metro District Reserve Study and/or estimates and projections from the Tallyn’s Reach Treasurer. |
Reserve Shortfall
Ideal Reserve Fund | $10,586,297 |
Projected Reserve Balance as of December 2022 | $600,000 |
Ideal Annual Reserve Contribution | $1,728,000 |
2022 Combined Reserve Contribution | $500,000 |
2023 Projected Annual Contribution with new Mill Levy | $200,000 |
2023 Projected Annual Contribution from Quarterly Fees | $300,000 |